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Xie Yu

CEFC Anhui International, a unit of China’s fallen oligarch Ye Jianming, runs the risk of getting kicked off the Shenzhen Stock Exchange, after securities regulators on Tuesday called for the company to provide detailed disclosure of its financial and debt status. 
The company has until May 15 to respond to the exchange’s query. 
Regulators requested CEFC Anhui, the listed unit of China’s troubled oil giant CEFC China Energy, to explain the reason its auditor issued a disclaimer of opinion against its annual report for 2017.
They also called for the company to spell out the potential impact the auditor’s note would have on the credibility of the company’s annual report. Regulators also called for CEFC to disclose the size of its debt, along with maturity dates, and detailed plans for repayment.
CEFC officials could not be reached for comment.
Last week, CEFC Anhui received a delisting warning from the bourse.
How media-shy, mysterious Chinese businessman Ye Jianming came to global attention
According to its annual report, CEFC Anhui saw a net loss at 245 million yuan to 360 million yuan (US$38.5 million to US$56.54 million) in the first six months versus a net profit at 239.6 million yuan a year ago, largely due to a business downturn. 
CEFC China, the biggest private oil conglomerate in China, has been unable to halt a growing crisis at the company, after claims earlier this year that its chairman Ye Jianming was under investigation.
China detains oil entrepreneur, wiping US$153 million off stocks
The group has 11.8 billion yuan of bonds due during the remainder of 2018, according to data compiled by Bloomberg. The company’s units have already missed payments totalling 85 million yuan on debt sold via an internet finance platform.
A creditors’ meeting in Shanghai last Friday was attended by financial institutions who had invested 10 billion yuan into bonds issued by CEFC. 
Creditors are pushing CEFC to disclose more about their cash flow and how they plan to repay debt at bondholder meetings in the coming weeks.

Creditors qualified to attend the meetings have been urged to sign confidential agreements that “safeguarding legal interest rationally”, according to a notice seen by the Post.
The Post reported earlier that the Shanghai municipal government had attempted to bail out the energy conglomerate via state-owned Shanghai Guosheng, but the investment and financing firm pulled out after reviewing CEFC’s finances.
On Friday, CEFC China’s planned takeover of Russian oil giant Rosneft collapsed. The US$9 billion deal for a 14 per cent of Rosneft fell apart after sellers, which included a consortium of Qatar’s sovereign wealth fund and mining giant Glencore Plc, decided not to proceed.


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Regulation

Fallen Chinese tycoon Ye Jianming’s CEFC Anhui risks getting kicked off Shenzhen exchange

CEFC's founder Ye Jianming. CEFC China Energy is the principal unit of CEFC Shanghai International Group, which in turn controls the Shenzhen-listed CEFC Anhui International Holding. Photo: Handout

FILE PHOTO: A CEFC logo is seen at CEFC China Energy's Shanghai headquarter in Shanghai, China September 14, 2016. REUTERS/Aizhu Chen/File Photo

Millions of dollars in value wiped out in stocks tied to detention of CEFC’s founder Ye Jianming

Ye Jianming, chairman of CEFC China Energy, which owns a 14.16pc stake in Russia’s Rosneft, was detained for questioning

FILE PHOTO: A logo of Russian state oil firm Rosneft is seen at its office in Moscow, October 18, 2012. REUTERS/Maxim Shemetov/File Photo

A 21 February 2017 file photo showing a general view of the Yuganskneftegaz pumping station in Priobskoe oilfield, 200 km from Nefteyugansk in Russia. More than a third of the 2015 total was produced by the state oil company Rosneft, in which CEFC owns 14 per cent. Photo: EPA/YURI KOCHETKOV

Shares of CEFC Anhui, related to troubled tycoon Ye Jianming, sink 10pc after month-long suspension

CEFC China Energy is the principal unit of CEFC Shanghai International Group, which in turn controls the Shenzhen-listed CEFC Anhui International Holding. Photo: Reuters

Ownership structure of CEFC China Energy and its principal subsidiary CEFC Shanghai international Group Su Weizhong (50%), Li Yong (49%), Zheng Xiongbin (1%) Shanghai Zhong An United investment Fund Shanghai CEFC Financial Holding Su Weizhong (6.17%), Zheng Xiongbin (4.93%) Zang Jianjun (95%), Zhuang Miaozhong (5%) Shanghai Jinzhuan Equity Investment Fund China CEFC International Equity Investment Shanghai Energy Fund Investment CEFC China Energy CEFC Shanghai International Group Source: Stock exchange filing of CEFC Anhui International Holding SCMP

State-owned Citic takes over troubled tycoon Ye Jianming’s investments in Czech Republic 

CEFC has invested heavily in the Czech Republic, with some of those investments being taken over by Citic Group. Photo: handout

Ye Jianming of CEFC and Milos Zeman, Czech President at the meeting in Czech Republic. Photo: Citic

A CITIC Securities logo is seen at a building where its branch is located in Beijing, China, March 23, 2016. REUTERS/Kim Kyung-Hoon/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH 'BUSINESS WEEK AHEAD APRIL 25' FOR ALL IMAGES

Mystery tycoon Ye Jianming under investigation in China, Czech presidential office says

Ye Jianming, a merchant from Fujian, emerged from obscurity to become head of the country’s fourth-largest oil conglomerate in just five years. Photo: Handout

Chadian President Idriss Deby attends a meeting with EU and African leaders to discuss how to ease the European Union's migrant crisis, at the Elysee Palace in Paris, on August 28, 2017. Seven African and European leaders met in Paris on August 28 to try to build a "new relationship" aimed at stemming the flow of migrants into Europe from northern Africa in return for aid. / AFP PHOTO / ludovic MARIN

KEWCTW Moscow, Russia. 24th Oct, 2017. CEFC China Energy President Chan Chauto at a plenary session of the 9th VTB Capital Russia Calling! annual investment forum. Credit: Mikhail Metzel/TASS/Alamy Live News

How media-shy, mysterious Chinese business heavyweight Ye Jianming came to global attention

CEFC's founder Ye Jianming, described by Fortune magazine as a ‘mysterious tycoon’. Photo: SCMP Handout

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