It should be pointed out that the only bidder for these two auctions is probably one. Behind the auction, there is a shareholding of Xingyin Fund Management Co., Ltd. (hereinafter referred to as Xingyin Fund) jointly established by Huafu securities and Guomai Technology (002093. SZ).
Leads to bidders
Beijing sky Hongding Investment Center (limited partnership) (hereinafter referred to as sky Hongding) was originally the shareholder of Henan diamond. On January 18, 2020, Beijing No.1 Intermediate Peoples court ruled to accept the bankruptcy and liquidation case of sky Hongding, and appointed Guohao lawyer (Beijing) office as tiankong Hongding manager on March 26, 2020.
According to the bankruptcy process of sky Hongding, the 91954023 shares of Henan diamond held by sky Hongding (accounting for 7.63% of the total share capital of the company) will be publicly auctioned on Taobao judicial auction network platform from 10:00 on August 21, 2020 to 10:00 on August 22, 2020. Finally, the bid was sold by the buyer with bidding number m8211, with a transaction price of 201 million yuan and a cost of about 2.1855 yuan per share.
Source: Ali auction
Source: Ali auction
After some speculation in the market, Yu diamond revealed the situation at that time on the evening of October 19. It is reported that on August 22, 2020, Shanghai Xinghan Asset Management Co., Ltd. (hereinafter referred to as Xinghan Asset Management Co., Ltd. (hereinafter referred to as Xinghan asset management, on behalf of Xinghan asset management - Xinghan No. 8 single customer special asset management plan) successfully bid for about 201 million yuan, and obtained 91.954023 million shares of Yu diamond held by sky Hongding (accounting for 7.63% of the total share capital of the company). On October 16, 2020, the transfer of shares has been completed.
So what about a new round of auctions? Beijing No.1 Intermediate Peoples court ruled on April 24, 2020 to accept the bankruptcy liquidation of Beijing Tianzheng ocean fund management center (limited partnership) (hereinafter referred to as Tianzheng COSCO), and appointed Beijing Puhua law firm as Tianzheng ocean manager on May 15, 2020. According to the official auction website of Ali, this auction is about 229885057 shares of Henan diamond held by Tianzheng Yuanyang (accounting for 19.07% of the total share capital), which was also bought with real gold and silver of about 968 million yuan, at a cost of about 4.2125 yuan per share. Sky Hongding and Tianzheng ocean were settled in through the fixed increase at the end of 2016.
Source: Ali auction
Source: Ali auction
It is worth noting that in the statement of changes in equity, when referring to the plan for the next 12 months, Xinghan asset management said that it would participate in the judicial auction of 229.885057 shares held by Tianzheng COSCO, and there were no other plans to increase its holdings. It can be seen from the official website of Alibaba auction that only one company signed up to participate in the auction process of Tianzheng COSCO. The two clues directly point to Xinghan asset management, which is very likely to be the buyer of Tianzheng COSCO.
Behind it are Huafu securities and Guomai technology
What kind of company is Xinghan asset management?
The data show that Xinghan capital management is registered in Shanghai with a registered capital of RMB 300million, legal representative zhangguiyun and xingyin fund holding 100%. It mainly carries out asset management business of specific clients and other businesses permitted by CSRC, which serves both the real economy and the diversified needs of customers for wealth management.
Xinghan asset management still holds 8.31% shares of * ST Kangde (002450. SZ). Xinghan asset management originally issued entrusted loans to sky Hongding through banks on behalf of Kaiyuan No.8 asset management plan, so its participation in the auction also represents the Kaiyuan No.8 asset management plan. The term of validity of the contract is 72 months. The management fee of the asset manager is calculated at a fixed amount of 2 million yuan per year, and the custody fee of the asset trustee is calculated at the fixed amount of 100000 yuan per year.
According to Tianyan information, Xinghan asset management is 100% owned by xingyin fund, which was formerly known as Huafu Fund Management Co., Ltd., and xingyin fund was 76% owned by Huafu securities and 24% by Guomai technology.
Further, Huafu securities is mainly held by Fujian Energy Group Co., Ltd., 33.71% by Fujian investment and Development Group Co., Ltd., and 20% by Fujian Communications and Transportation Group Co., Ltd., all of which are 100% controlled by Fujian SASAC. In addition, Industrial International Trust Co., Ltd. (hereinafter referred to as industrial international trust) holds 4.35%, industrial international trust is 73% controlled by Industrial Bank (601166. SH), and Xiamen International Trade (600755. SH) also holds 8.42% of industrial international trust.
Knight in white from Societe Generale Bank?
Looking back at Tiantian Hongding and Tianzheng Yuanyang, Tianzheng Hongding invested 800 million yuan and Tianzheng Yuanyang invested nearly 2 billion yuan to settle in Henan diamond. The lock-in period is 36 months, that is, it can be listed and circulated on November 7, 2019.
For the fixed increase completed in November 2016, on November 29 and 30 of the same year, Tianzheng Yuanyang and sky Hongding successively pledged their shares without any remaining shares. The pledgee was Zhengzhou branch of Industrial Bank.
After all, the total subscription fund of RMB 2.8 billion is not a small amount. It is bound to relieve the pressure of capital cost to realize the stock pledge. According to the penetration information of Tianyan inspection, there is a common speaker, Wang Gang, behind the sky Hongding and Tianzheng Yuanyang. Therefore, it is reasonable that they act in accordance with each other.
Some media have sorted out the relationship behind the scenes: Wang Dehua is Wang delis brother, Wang Gang and Wang Qiang are Wang delis sons, Wang Bo is Wang Dehuas son, and Wang Gang is Wang Qiangs brother.
Originally, if yu diamonds share price has been steadily rising all the way, hello to the hostage holders, we are brothers. However, since January 25, 2018, Yu diamond has experienced a cliff like decline, with its share price falling from 15 yuan all the way to 1.78 yuan. Although we do not know where the warning line and closing line are, nearly 90% of the market value has evaporated. It is difficult for anyone to calm down in this round. In fact, on June 19, 2018, yudiamond had received a notice, and the shares of sky Hongding and Tianzheng ocean had reached the closing line at that time, and there was risk of closing positions. Due to the restriction of sales, in the absence of collateral supplement, the industrial bank is directly hit.
Then, the xiangxingye bank suffered a violent attack, and the xiangxinghan asset management chose to take action. If this is the case, the right to speak in the hands of Xinghan asset management is as high as 26.7%. At present, public information shows that the actual controller of Henan diamond is Guo Liuxi and Henan Huajing, who acts in concert. The total shares held by Yu diamond are about 332 million shares, accounting for 27.56% of the total share capital. It seems that the strength of the two is very close.
Judging from the equity structure of xingyin fund, which holds 100% of Xinghan asset management, industrial bank also indirectly holds shares in xingyin fund. Does this mean that xingyin fund is the knight in white invited by industrial bank to take charge of the aftermath? However, no matter what, the risk of becoming a shareholder in Henan diamond is not small, and how it will develop in the future is still unknown.