After announcing a loss of 1.379 billion yuan, Shanghai Laisse closed down again today and the price stayed at 7.57 yuan.
This is the ninth consecutive drop of Shanghai Laisse since its resumption on December 7. Compared with the closing price of 19.54 yuan per share before its resumption on December 7, the decline is 61.25%. The former Blood King with a market value of 100 billion yuan has shrunk to 37.7 billion yuan and evaporated 59.4 billion yuan from 97.1 billion yuan before resumption.
The sharp decline of stock price not only makes Shanghai Laisse into a dilemma, but also makes Shanghai Laisses high proportion Pledged Shares face the risk of bursting positions. According to Wind data, the total amount of Pledged Shares in Shanghai Les is 3.592 billion shares, and some of the shares pledged by the two controlling shareholders have defaulted. In addition, the companys planned acquisition plan of 39.1 billion shares also faces the risk of failure.
Stock speculation lost nearly 1.4 billion yuan
On the evening of August 21, Shanghai Laisse reported a net loss of 847 million yuan in the first half of the year. The net profit of Shanghai Laisse in the same period last year exceeded 700 million yuan, which is a big change in performance. The main business of Shanghai Laisse has not changed a lot. The reason for such a huge change is that the company lost 1.378 billion yuan in stock speculation.
The following three quarterly reports showed that Shanghai Laisse lost 1.293 billion yuan in real and net profit in the first three quarters of 2018, more than double the decline from the same period last year. Among them, investment losses exceeded 1.1 billion yuan. The company announcement said, due to the fluctuation of the capital market, the companys securities investment has a greater loss, which is the main cause of net profit loss.
Reporters found that Shanghai Laisses investment losses were mainly due to the two stocks of Chongcang Wanfeng Awey and Xingyuan Environment, both of which fell more than 60% in the year. In response, Shanghai Laisse said that it planned to stop adding new securities investment in the future, and that the original securities investment would gradually withdraw at the appropriate time in the future.
It is understood that Shanghai Laisses stock speculation began in January 2015, and is known as stock speculation master. At that time, the company announced that it planned to use its own funds for venture capital up to 1 billion yuan, with a period of two years. In 2015 and 2016, Shanghai Laisse earned 870 million yuan and 830 million yuan respectively in the A-share market, accounting for 60% and 51% of net profit respectively. In 2016, Shanghai Laisse raised its investment limit to 4 billion yuan and extended its service life to 3 years. ?
Pledge 3.59 billion shares
Nearly 200 million pledges have been breached
Behind the collapse of stock prices, Shanghai Les High Proportional Pledge Equity is facing the risk of bursting positions. According to Wind data, the total amount of Pledged Shares in Shanghai Les is 3.592 billion shares, accounting for 72.21% of the total equity, of which 3.565 billion shares are pledged by the top five shareholders, and all of them are nearly 100% pledged.
The share prices pledged by two major controlling shareholders, Les China and Corey Tiancheng, constitute a default and risk passive reduction.
It is reported that the two companies pledged 1.5 billion shares and 1.51 billion shares respectively, accounting for 30.16% and 30.36% of the total share capital of Shanghai Laisse, of which 103 million shares and 96.88 million shares triggered passive reduction risk, accounting for 208% and 1.95% of the total share capital of Shanghai Laisse.
Among them, Corey Tiancheng not only faces the risk of reducing its holdings, but also encounters the default of pledge.
According to the announcement issued by Les China on Dec. 10, Corey Tiancheng pledged to Guotai Junans shares because part of the overdue amount constituted a breach of contract. If the two sides fail to reach an agreement in the near future, Guotai Junan has the right to deal with the breach of contract of the pledge, which may lead to passive reduction.
Nearly 40 billion restructuring plans cant stop the fall
In fact, Shanghai Laisse has been restructuring for nearly 10 months, but on November 6, the SFC issued the Guidelines on Improving the System of Stopping and Restoring Stocks of Listed Companies, saying that effective measures will be taken to prevent long-term suspension. A large number of listed companies with suspension protection plates have to resume trading.
Shanghai Les resumed its cards on December 7. On the day of resumption, Shanghai Laisse put forward a restructuring plan of nearly 40 billion yuan.
On the same day, Shanghai Les announced a major asset restructuring plan: the company intends to issue shares to buy all or part of the GDS stake held by Kirifu and 100% of Tiancheng Germany stake held by Tiancheng German shareholders, with a total transaction price of about 39.1 billion yuan. At the same time, no more than 3 billion yuan of matching funds have been raised. As of the announcement date of the restructuring plan, the existing shareholders of Tiancheng Germany are Tiancheng International, and the existing shareholders of Tiancheng International are Ten shareholders including Tiancheng Wealth controlled by Corey Tiancheng, the controlling shareholder of the company, Les China.
The announcement shows that the main business of Shanghai Laisse is the production and sale of blood products. GDS is a wholly-owned subsidiary of Kirifu, a world-renowned blood products company. It is a blood testing company specializing in the production of blood testing equipment and reagents. Its main business is nucleic acid testing, immune antigen and blood group testing.
According to previous analysis, if the transaction can be successfully completed, it will be conducive to Shanghai Laisse fully participating in the global market competition, and is expected to become the largest overseas M&A of A-share pharmaceutical companies this year. But investors dont buy. So far, Shanghai Les has been restored for 9 consecutive years.
At the same time, compared with the acquisition price of 39.1 billion yuan, the total assets of Shanghai Laisse are only 11.5 billion yuan. At the end of the trading day, there are 2117,000 orders on the Shanghai Laisse drop stop board, and nearly 1.6 billion yuan of funds are waiting to escape. In this way, the industry said that the nearly 40 billion yuan M&A is also facing the bubble risk.
The data from the Dragon and Tiger List after the market shows that the share price of Shanghai Laisse has fallen sharply. Behind it is the crash of the institution.
Todays Dragon and Tiger List data show that special seats for institutions sold 7.57 million yuan.
In the previous two days, the first one sold by Shanghai Laisse was agency-specific seats. On the 18th day, 17.74 million yuan (35.83%) were sold for agency-specific seats, while on the 17th day, 9.34 million yuan (70.14%) were sold for agency-specific seats.
Source: Ji Xueying_NN6784, responsible editor of China Foundation Newspaper