100 billion yuan private placement Gaoyi asset response to investigation: legal compliance of block trading

 100 billion yuan private placement Gaoyi asset response to investigation: legal compliance of block trading

Before the launch, Zhu Kejun said: the company has decided to complain to the China Securities Association of a large V who first published the so-called Gy investigated on microblog and currently serves as a securities firm. Meanwhile, all the rumors and infringers including the big V will protect the legal rights of Gaoyi assets and its fund investors through judicial means, with serious circumstances The right to pursue criminal responsibility will also be reserved.

As a matter of fact, the conference was held in a hurry. Late at night on November 19, near 23:40, a reporter from securities daily received a message saying: Hello, sorry for the hasty notice. We have also decided to hold this meeting temporarily. Gao Yi asset will hold a media communication meeting in the Office (Beijing, Shanghai and Shenzhen at the same time) this communication is our detailed response to the main questions of this wave of rumors from the outside world The risk control and compliance management in the investment process is more clear.

Legal compliance of block trading of two stocks

At the press conference, Zhu Kejun introduced the block trading of two stocks last year and this year. He said that the company began to gradually lay out the game industry at the end of 2019. As one of the industry leaders, a certain game stock belongs to one of the key research targets. Considering that a company is expected to release a new game in the middle or second half of this year, which may become a growth point of performance, it has gradually built a position on the stock since the beginning of this year, and has completed several large purchases in the early months of the year through the intermediary information provided by a head broker, and participated in the fixed increase of the stock in March this year (the listed company made an announcement in April). However, the companys new game soon fell short of expectations after it went online in early July, and its share price began to fall gradually in early July. Therefore, the company decided to gradually sell the large and fixed increase shares after unlocking in the middle and late July. The whole selling process lasted for several months, which was legal and compliant, and there was no so-called illegal behavior of selling during the lock-in period.

As for the block trading of a Chinese medicine stock, the investment logic of the fund manager in charge of the transaction is weak system, odds first and always keeps a high position. In August this year, according to the information provided by a head broker, a Chinese medicine stock had the opportunity to buy a small amount of discount block trading, and some of the shares were non-specific shares and were not subject to the lock-in period. Due to the strict risk control restrictions on the 5% card raising line implemented by Gaoyi assets, the intermediary broker informed the seller that the seller required to sell at least 5% of the shares, so as to ensure that the proportion of the positions held during the period would not exceed 5% During the period of buying one by one through block trading, the fund manager portfolio sold a small number of non specified shares that are not subject to lock periodic restrictions by means of centralized bidding, and finally completed the whole process of building positions. At any point in the whole process of building a position, Gaoyi assets position in the stock did not exceed the 5% card raising line, and it never sold any shares subject to lock-in period during the lock-in period.

The company and its employees are in good condition

Zhu Kejun also said that the company and its employees are in normal performance. In addition, Tencent is a financial investor with minority shares held by Gaoyi assets. At present, Tencent holds a single digit percentage of equity, and has no director seat. It does not participate in the companys investment, operation and management. Gaoyi assets and Tencent did not conduct any form of information exchange related to investment decisions. Therefore, there is no concerted action relationship between Gaoyi assets and Tencent.

Compliance first comes first

Zhu Kejun explained the hot issues concerned by the market one by one, and also introduced the companys compliance risk control system. He said that at the beginning of the companys establishment, Gao Yis partners have clearly established the core values of three first, in which compliance first is the first, that is, in any case, compliance comes first. When there is a conflict between the companys business development and compliance, compliance comes first. In the long run, only by ensuring compliance can the business develop sustainably.

According to Zhu Kejun, the highest authority of the companys compliance risk control is the risk control committee. As the chairman of the risk control committee, he has full authority to lead the work of the committee, and directly leads the compliance department and the operation Department to jointly conduct all-round risk management and monitoring on the investment, transaction and operation of the whole company before, during and after the event. In addition, an information technology team of about 10 people has been set up to independently construct and maintain all business-related systems, especially those related to trading, investment management, and operational risk control, providing strong technical support for the management of the companys compliance risk control system.

Source: Securities daily.com Author: Wang Ning editor: Wang Xiaowu_ NF