The actual controller of Jiahua energy is suspected of manipulating the securities market
Investigation by SFC
According to the announcement on the evening of August 7, 2020, the company received a notice from Mr. Guan Jianzhong, the actual controller and chairman of the company, on August 7, 2020, and received the investigation notice issued by China Securities Regulatory Commission (hereinafter referred to as CSRC) on August 6, 2020. As Mr. Guan Jianzhong was suspected of manipulating the securities market, the CSRC decided to implement the According to the relevant provisions of the securities law of the peoples Republic of China, Mr. Guan Jianzhong was placed on file for investigation.
Jiahua Energy said that the investigation is aimed at Mr. Guan Jianzhongs personal investigation, and the companys production and operation activities will not be affected. The company will timely fulfill the obligation of information disclosure according to the investigation.
On August 7, Jiahua energy had a one word limit. As of the closing, Jiahua energy reported 11.22 yuan, and the latest total market value was 16.1 billion yuan.
Insider trading of Jiahua energy as supervisor of Meifu petrochemical
Fined 300000 yuan
It is worth noting that on July 13, the CSRC website published a written decision on administrative punishment. It shows that the CSRC investigated and tried the insider trading of Jiahua energy stock by Yin Zhangwei, then the supervisor of Meifu petrochemical.
In fact, it goes back to 2016. At the end of 2016, Guan Xiaozhong, chairman of Jiahua energy, planned to issue shares to Meifu Petrochemical Company, which he actually controlled. However, on June 30, 2017, Zhejiang Securities Regulatory Bureau issued a letter of concern to Jiahua energy. After that, Jiahua energy convened a meeting of the directors and main responsible persons to discuss the issues of the letter of concern. On October 13, 2017, Jiahua energy held the first on-site meeting of intermediary agencies. At the on-site meeting, Guan Xiaozhong explained that Jiahua energy would acquire Meifu petrochemical.
To sum up, Jiahua energys acquisition of Meifu Petrochemical constitutes a major asset restructuring of the listed company. The insider information was formed no later than September 10, 2017, and was disclosed on December 26, 2017. Guan Xiaozhong is an insider of inside information.
Yin Zhang Wei was the supervisor of Meifu Petrochemical Company and was the legal insider of the case. In addition, Yin Zhangwei and Guan Mou Zhong are old friends for many years and have a close relationship. They often contact each other through meeting parties, telephone and wechat voice. Before the disclosure of inside information in this case, the two contacted many times.
It is disclosed that Yin Zhangwei bought 44100 shares of Jiahua energy on September 20, 2017, with a transaction amount of 392500 yuan. On October 20, 2017, 410000 shares were purchased with a transaction amount of 3.81 million yuan. As of the survey date, 200 shares were actually sold, with a transaction amount of 1638 yuan, and the rest of the stocks were not sold.
According to the relevant provisions, the CSRC decided to order Yin Zhangwei to deal with the illegally held securities in accordance with the law, confiscate the illegal income and impose a fine of 300000 yuan on Yin Zhangwei.
Now, Guan Mengzhong, chairman of Jiahua energy, involved in the case, is also under investigation by the CSRC for suspected manipulation of the securities market.
The net profit of Jiahua energy is RMB 55.5 billion in the first half of the year
Down 14.8% year on year
It is reported that Jiahua energy is an energy chemical enterprise. The companys main steam, chlor alkali, ortho para, fatty alcohol (acid) and sulfuric acid and other products.
On August 6, Jiahua Energy announced its first half performance. The semi annual report shows that in the first half of 2020, the company realized a total operating revenue of 2.512 billion yuan, a decrease of 8.40% over the same period of last year; the net profit attributable to the shareholders of the listed company was 555 million yuan, down 14.80% compared with the same period of last year; the net profit after deducting non recurring profit and loss attributable to shareholders of listed company was 552 million yuan, decreased by 11.57% compared with the same period of last year; the realized earnings per share was 0.3985 yuan, down from the same period of last year 13.50%u3002
In this regard, Jiahua Energy said that in the first half of 2020, the company actively responded to the impact of the new crown epidemic, reduced the impact of logistics obstruction, did a good job in resuming production, and maintained a stable production load; the downstream industries of some products suffered price decline due to blocked export business, which affected the operating income and net profit.
Due to the performance of the first half of the year less than expected, Jiahua energy on August 6, August 7, two consecutive limit. Since July, the share price of Jiahua energy has risen rapidly, with a cumulative increase of 58.58% in 26 trading days as of August 5. However, in the long run, compared with the historical high price on April 11, 2019, the market value has evaporated by 9.6 billion yuan.
*St contacted the actual controller for suspected breach of trust laws and regulations
Investigation by SFC
Coincidentally, on the evening of August 7, * ST liaison also announced that the CSRC decided to investigate the company and its actual controller, Mr. He Zhitao, on suspicion of illegal information disclosure.
*Inquiry letter of St contact frequency receiving Annual Report
About 226 million shares held by the actual controller are waiting to be frozen
Since the beginning of this year, there has been a lot of negative news from * ST, one of which is the problem of its 2019 annual report.
On August 7, the Shenzhen Stock Exchange once again sent an annual report inquiry letter to * St. The Shenzhen Stock Exchange asked * st to contact and explain at the end of 2019, the interest corresponding to the factoring accounts receivable of your company has been overdue, and the relevant funds have not been repaid as of the date of issuance of the audit report, and your company has not taken relevant legal recovery procedures for overdue matters, the independent director of the company, Lu Guohua, has expressed his abstention vote on the contents of the annual report.
In addition, * ST contacted and received the consumption restriction order, the resignation of the companys directors, and the overdue loan contract, was sued by the Bank involving 100 million yuan of property, and was sued by Guangming branch of Bank of Beijing, demanding repayment of 300 million principal and interest.
On July 16, * ST contacted and announced that about 226 million shares of the company held by Mr. He Zhitao, the actual controller of the company, were waiting to be frozen, accounting for 10.37% of the companys total share capital, with a freeze period of three years. Mr. He Zhitao holds 512 million shares of the company, accounting for 23.53% of the total share capital of the company; the number of shares to be frozen this time accounts for 44.05% of the companys shares.
*STs contact with 10 billion cross-border causes huge losses
Market value evaporation exceeds 100 billion
It is reported that * ST contact was originally a high-tech company specializing in computer system integration and application software development, mainly for customers in key industries such as electric power and tobacco. In 2014, the company carried out major asset restructuring and placed 100% equity of Beijing Digital Tianyu Technology Co., Ltd. (hereinafter referred to as digital Tianyu), and its main business changed from the original computer system integration and application software development and sales, system integration and technical support and service to the R & D and operation of mobile terminal operating system, middleware platform and related applications. At the same time, the company controlled the company The shareholders were changed to he Zhitao, Guo Jingbo and Chen Li.
After the reorganization, * ST liaison has been involved in the cross-border business of 10 billion yuan. During this period, its performance was very amazing, and its share price soared. After the resumption of trading on April 8, 2014, the stock price continued to soar. As of March 25, 2015, it reached a record high. During the period, the stock price increased by 1078.81%, and the total market value at that time was as high as 110 billion yuan.
In 2017, * ST contacted the all media industry layout of the company and planned to purchase 28% of the shares of the win-win situation of Di case in cash. After the implementation of the acquisition, the company will hold 49% of the equity of the win-win of the company. For the acquisition, * ST liaison said that in the future, the development of four business sectors (e-commerce, media, intelligence and Finance) will be more balanced, and the synergy effect between the four sectors will be more significant.
However, for listed companies, it is easy to cross-border and difficult to integrate.
From 2017 to 2019, the total operating revenue was 12.345 billion yuan, 13.989 billion yuan and 12.468 billion yuan respectively, which was significantly increased compared with that of 1.2 billion yuan in 2016. However, it is worth noting that its net profit is in the opposite direction. From 2017 to 2019, the net profit attributable to the parent company was 65 million yuan, - 669 million yuan and - 3.235 billion yuan, respectively. The net loss expanded year after year. In the first quarter of this year, the net profit of parent company decreased by 473.72% year-on-year, which shows that there are huge problems in its operation.
Since the companys net profit has been negative for two consecutive years, delisting risk warning (* st) has been implemented since June 29, 2020, and the abbreviation of securities has changed from contact interaction to * ST liaison.
By the end of August 7, the stock price of * ST was 1.40 yuan, and the current total market value was only 3.05 billion yuan, a decrease of more than 100 billion yuan or 98% compared with the peak in 2015.
*St contacted the latest number of shareholders with a total of 132600. On August 7, the stock closed down at 1.4 yuan, and the company is facing the challenge of shell protection. Once the market is finally delisted, investors will suffer even greater losses.
Source: China fund daily Author: Li Zhi, editor in charge: Wang Xiaowu_ NF