This private placement lost miserably! The company that broke 600 million gambling shells is now in vain

category:Finance
 This private placement lost miserably! The company that broke 600 million gambling shells is now in vain


The house leaks and rains at night. Three months ago, Jikai shares suspended trading to plan for restructuring, and then came up with a restructuring plan of backdoor listing, which brought three trading limits after the resumption of trading. Unexpectedly, less than a month later, the company announced the termination of the restructuring, and the stock price gradually fell back to the origin.

In December 2016, Dingjie asset, the third largest shareholder of Jikai shares, transferred its 22 million shares (11% of the total share capital) to Hangzhou Yanre, with a unit price of 29 yuan / share and a total consideration of 638 million yuan. After the implementation of 10 to 7 in 2017, Hangzhou Yanres shares increased to 37.4 million, and the shareholding ratio remained unchanged.

In the past four years, Hangzhou Yanre seems to be as he said when he entered the board: he is optimistic about the future development of Jikai shares and seeks for financial value-added investment. But a close look at the four-year hard journey is more helpless.

According to the inquiry, when Hangzhou Yanre took out 638 million yuan to pay the bill, the price of 29 yuan / share was slightly discounted from the stock price at that time, and the companys share price was once 36 yuan higher. However, in the past four years, the overall trend of the companys share price has declined, and the current stock price is only more than 5 yuan. Taking into account the factors of profit distribution over the years, the largest decline in the range is as high as 75%.

Why does Hangzhou Yanre, with a registered capital of 500 million yuan, fall in love with Hebei Jikai shares?

In fact, it is not a single person in the fight, with it there is Niu San Jing Hua, both in another shell company taste sweet. At the beginning of 2016, Hangzhou Yanre and Jinghua jointly transferred shares of Honglei (now known as Rendong holding) shares and became allies. After Hangzhou Yanres rapid reduction, it gained a lot. In December 2016, Hangzhou Yanre switched to Jikai shares, and Jinghua followed up at the same time and carried out the brand raising of Jikai shares. In 2017, Jinghua took advantage of the success and pursued, and the proportion of shares held by Jikai rose to 11.26%.

In other words, during a period of time, Hangzhou Yanre and Jinghua two allies controlled more than 21% of Jikai shares. Who expected that in 2016, the financial regulatory environment changed rapidly, and the transformation of Jikai shares, whose main business was flat, was fruitless, and the stock price fell continuously.

Interestingly, zhuozhongdafu, who became the owner at the beginning of 2016, after two years of inaction at the helm, handed over the control of the listed company to Feng Chunbao, the former actual controller, indicating that its leading transformation has failed.

When the tree falls, the monkeys scatter. From May to July, 2018, Jinghua, an old capital hand, went all out to trade Jikai shares illegally and short-term. He sold nearly 6% of the shares in total. When the proportion reached 5%, he failed to disclose according to regulations. Later, he was fined 600000 yuan by Hebei securities regulatory bureau. In November 2018, the shares held by Jinghua were also strongly balanced by Hengtai securities.

Before the suspension and reorganization of Jikai shares in July this year, Jinghua had disappeared from the list of the former top ten shareholders.

For Hangzhou Yanre, whose shares are fully pledged, the only way to get rid of the problem is to restructure successfully and raise the stock price. Unfortunately, Minshan Huannengs backdoor listing plan ended a month later, and Hangzhou Yanre failed to wait for the opportunity to turn over the market, and was finally put on the shelf of China Thailand securities.

Up to now, the latest market value of Jikai shares purchased by Hangzhou Yanre with 638 million yuan is less than 200 million yuan.