Lanrun Assets wants to “transfusion” Yunsheng Medical: vetoed by more than 100,000 shares

After the equity transfer became the largest shareholder of Yunsheng Medical , Sichuan Lanrun Asset Management Co., Ltd. (hereinafter referred to as Lanrun Assets) quickly entered the role. On the one hand, it costs real money to increase its holdings; on the other hand, it has successively “transfused blood” to listed companies with low performance. Unexpectedly, some shareholders of Yunsheng Medical did not seem to appreciate this. At the recent shareholders meeting of the listed company, a loan proposal of Lanrun Assets was rejected by more than 100,000 shares.

Major shareholder "transfusion" failed

According to the announcement of Yunsheng Medical on the 13th, the company held the resolution of the first extraordinary shareholders meeting in 2017 on January 12. The only proposal of the meeting was whether the “Loan Contract” of Yunsheng (Shanghai) Medical Technology Co., Ltd. and Sichuan Lanrun Asset Management Co., Ltd. was rejected at the meeting.

Earlier, Yunsheng Medical announced at the end of December 2016 that Lanrun Assets intends to provide the company with a loan of 200 million yuan to supplement the working capital. The borrowing rate is calculated according to the RMB loan interest rate as stipulated by the People's Bank of China. As of November 28, 2016, Lanrun Assets held a total of 55,286,500 shares of Yunsheng Medical, accounting for 16.21% of the company's total share capital, making it the largest shareholder.

According to the data, Yunsheng Medical lost a total of 70.243 million yuan in 2015 and a loss of 4,403,670 yuan in the first three quarters of 2016. As of the end of the third quarter of 2016, the balance of its monetary funds was only 13,846,500 yuan.

In fact, Yunsheng Medical, which is “lack of money”, intends to refinance through the capital market. At the beginning of 2016, the company launched a non-public offering of shares, and plans to issue shares to raise no more than 437 million yuan investment "Internet health ecosystem construction and operation." However, during the period, the company's largest shareholder changed, and Jiuchuan Group transferred the company's largest shareholder to Lanrun Assets for a total price of approximately RMB 840 million. In October 2016, the listed company terminated the non-public offering on the grounds that “the plan is no longer suitable for further promotion”.

Judging from the attendance of shareholders of the shareholders' meeting, there were 11 shareholders and agents attending the meeting, and the number of shares held was 55,479,800 shares. However, after deducting the number of shares held by Lanrun Assets, the number of shares with voting rights of shareholders attending the meeting was only 21.12 million shares. According to Yunsheng Medical's 2016 third quarterly report, the top 10 shareholders are mostly funds, trusts and asset management plans, with more than 1.95 million shares. Obviously, the enthusiasm of institutions to participate in voting is not high.

The voting results showed that the number of votes agreed was 72,400 shares, and the number of votes against 138,800 shares prevailed. In the end, the “transfusion” motion of Lanrun Assets was rejected by 138,800 shares.

As soon as the news came out, Yunsheng Medical's share price fell 5.02% on the 13th, and the market value of 260 million was dissipated.

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