20percent limit! Is this bull stock completely cool after being filed for investigation by the Securities Regulatory Commission?

category:Finance
 20percent limit! Is this bull stock completely cool after being filed for investigation by the Securities Regulatory Commission?


The announcement also showed that the companys shares will resume trading from the opening of the market on October 21, 2020 (Wednesday).

It is worth noting that China submarine has planned cross-border acquisition more than once, and both of them are terminated or there is significant uncertainty.

Cross border acquisitions have been planned for many times and are terminated or subject to significant uncertainty. However, the stock price has risen nearly 8 times since early May 2019. With the recent information disclosure of a series of restructuring matters of China submersible, there are more and more voices of questioning the companys speculation with the concept of stock price.

In addition, in 2019, the company has promoted a series of cross-border actions, including the acquisition of 100% equity of Beihai Huiyu Network Technology Co., Ltd. with RMB 1 yuan, the establishment of a wholly-owned subsidiary Beihai Zhongqian with an investment of 1 million yuan, and the acquisition of 100% equity of Shanghai Zhaoxin by means of acquisition and capital increase.

Up to now, the North Sea China potential business has stagnated, and Shanghai bidding and credit equity has been sold. But at the same time, the companys share price has risen nearly eight times since early may2019.

The fundamentals are flat, but the share price is soaring

If you look at the performance of the company, by the end of 2019, the companys net asset per share was only 3.37 yuan. However, this year, the stock price soared to around 200 yuan, with a price to book ratio of more than 56 times. That is to say, for every 1 yuan of assets of the company, investors have to pay a high price of 56 yuan. If the companys profitability is very strong, it can barely be said, but in 2019, the companys net asset value per share is only 3.37 yuan The stock return is only 0.18 yuan.

Before being investigated, it has been paid attention to by supervision for many times

In April this year, the company was repeatedly questioned by the Shenzhen Stock Exchange, involving the reasons for the companys transfer of the equity of its subsidiary blue sports, the acquisition of Beihai Huiyu, the acquisition of Suzhou senruite and the acquisition of loss making company Datang storage.

In July this year, due to the failure to disclose the related relationship and other reasons, the company received a decision on administrative supervision measures issued by Guangdong securities regulatory bureau. The securities regulatory bureau pointed out at that time that Shenzhen Zhongtian diving equipment Co., Ltd. and Huizhou Yayan Beauty Service Co., Ltd. were the enterprises actually controlled by Zhang Shun, the actual controller of the company, and were related parties of the company. The company did not disclose the associated relationship with these companies, and these companies and listed companies and their subsidiaries have a number of continuous large amount of capital transactions. In 2019, the company and its subsidiaries directly transferred funds to the above-mentioned related parties totaling 89.7571 million yuan, and the above-mentioned related parties directly transferred funds to the company and its subsidiaries totaling 73.354 million yuan. The above-mentioned capital transactions constitute connected transactions, but the company fails to perform the examination and approval procedures and information disclosure obligations for the above-mentioned related transactions, which violates the relevant provisions of articles 2 and 48 of the administrative measures for information disclosure of listed companies.

Data shows that Datang storage focuses on the design and development of memory control chips, mainly engaged in integrated circuit design, research and development and sales of integrated circuits, electronic components and related products, as well as research and development of electronic communication products and network equipment. After that, the companys stock price rose by 130% from March 13 to April 2.

However, on October 9, the company announced that due to the failure to reach an agreement on the main commercial terms, after careful consideration and friendly negotiation, the company terminated its intention to purchase shares of Hefei Datang Storage Technology Co., Ltd.

On October 13, the Shenzhen Stock Exchange issued a letter of concern to the company, asking the company to explain whether there were exaggerated propaganda and misleading investors in the previous disclosure contents, and whether there were matters such as cooperating with stock price speculation through information disclosure.

Source of this article: Yang Bin, editor in charge of CFA_ NF4368