YOUNGOR Li Rucheng'S "Dream" Will Be Lost.

Many institutional investors and super Niu San are bogged down in the mire of the two level market.

And famous for equity investments.

YOUNGOR, a garment maker, has been in capital through its participation in the issuance and investment of PE.

According to the statistics of flush, from January 1st to October 11th this year, YOUNGOR participated in a total of 11 listed companies, with 8 floating losses, and a total loss of about 40000000 yuan.

The investment PE project, Hainan rubber, was successfully listed in January 7th. YOUNGOR holds 20 million shares of restricted stock, and YOUNGOR has a floating profit of about 112 million yuan at the closing price in October 11th.

Analysts pointed out that fixed gains failed, PE cautious, YOUNGOR's financial investment path may have to change the "single handedly" path to specialization and platform.

Fixed increase float loss 40 million

Statistics show that this year, YOUNGOR has spent about 1 billion 480 million yuan to participate in the private placement of Guizhou power, Guang Bai pharmaceutical, Hai Zheng pharmaceutical, Hai Lide, Xing Rong investment, Sheng Yi technology, Jinggong technology, Yunnan Tian Hua, San Nong development, Eastern zirconium industry, Xinjiang public and 11 listed companies.

In addition to the clouds, Xinjiang Zhonghe and Dongfang zirconium industry 3 small floating surplus, the remaining 8 were floating loss, total float loss of about 411 billion 171 million yuan.

Among them, the former is the Sheng Yi technology, Guang 100 shares, Guizhou power, floating 15 million 540 thousand yuan, 15 million 440 thousand yuan, 14 million 426 thousand yuan respectively.

Tracing the history of YOUNGOR's growth, we can see that it began to emerge in 2007.

In those days, YOUNGOR "newborn calf is not afraid of tigers", participated in Haitong Securities Private placement, and spent 3 billion 588 million yuan to subscribe for 100 million shares.

In May 2008, Haitong Securities offered shares and YOUNGOR holdings increased to 200 million shares.

After lifting the ban in 2009, YOUNGOR reduced all the shares of Haitong Securities, but the stock price was at 13-15 yuan low. YOUNGOR did not announce the loss, and its losses were reported to be as high as 600 million yuan.

Haitong Securities's huge losses plus the financial crisis in 2008, YOUNGOR did not sell in 2008.

In 2009, YOUNGOR became active again. It participated in the 7 private placement companies, namely, Rongxin shares, first open shares, Antai group, Zhongtian Technology, Suning Appliance, Shanghai Pudong Development Bank and Dongfang Electric Company.

After the lifting of the above shares in 2010, the remaining 5 were profitable except Dongfang Electric and Suning appliances.

According to YOUNGOR's 2010 annual report, the shares of 7 companies have all been sold, with a total profit of 374 million yuan.

In 2010, YOUNGOR continued to make progress, and participated in the 8 companies such as ZOOMLION, Dongli pmission, Chuan Hua stock, Shanghai automobile, Futian Automobile, China Air China, Lingyun group and Jin Zi wine company.

At present, there are 5 float ups and 3 losses.

Enquiries on YOUNGOR's 2010 annual report show that the total profit of the 8 companies is 110 million yuan.

The carding of the thread can be a snoop of YOUNGOR's investment.

It is no wonder that since the disclosure of semi annual report in 2011, the market has never seen YOUNGOR again.

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PE cautious investment

Compared with participating in the fixed increase failure, investment unlisted companies, YOUNGOR's profit or slightly rich.

This year, YOUNGOR rubber, which was invested successfully by YOUNGOR, was listed on the market. It was allocated 20 million original shares and the investment cost was only 60 million yuan.

Up to now, Hainan rubber has brought 112 million of book income to YOUNGOR, which has increased by nearly 2 times compared with the original investment.

In fact, YOUNGOR's stake in unlisted companies began with CITIC Securities.

In July 1999, YOUNGOR invested 320 million yuan to participate in the establishment of CITIC Securities and became its second largest shareholder.

In 2003, CITIC Securities rose after the listing price rose from the issue price of 4.5 yuan, and the bull market in 2007 rose to a historical high of 115 yuan.

Since 2007, YOUNGOR has reduced its holdings of CITIC Securities by about 6 billion yuan.

After having tasted sweetness on CITIC Securities, YOUNGOR began to actively participate in PE investment, and invested in yeco technology and Bank of Ningbo.

The 2010 annual report shows that the total number of PE projects invested by YOUNGOR has reached 10.

But this year, YOUNGOR only added 200 million yuan investment to UnionPay business limited, and no new projects appeared.

"We are also looking for new projects, but the PE project takes a long time to track."

Liu Xinyu, YOUNGOR's deputy director, said.

In fact, PE has generally shown a cautious attitude this year.

Li Daxiao, director of the British Securities Institute, told reporters, "in 2009 and 2010, the share price of small and medium-sized board companies has increased considerably. Under this background, PE investment has been profitable. This has led to the rapid warming of PE investment and the oversupply of PE market.

As a result, competition makes PE project investment costs rise, and this year's two tier market performance is weak, return on earnings significantly decreased.

Therefore, PE investors in the two tier market "double bottom" than direct investment projects may also be cost-effective.

It is noteworthy that YOUNGOR's financial investment manipulator, in addition to YOUNGOR and its subsidiary YOUNGOR investment company, there is also a holding company - Shanghai Kai Shi investment company.

An anonymous insider said that YOUNGOR was not content to participate in the fixed investment and PE investment with its own strength. Kay stone investment, as the "Pathfinder" of its financial empire dream, has gradually changed to the comprehensive platform for financial investment. The business of equity investment, asset management and financial inquiry has been developing rapidly, and the assets under management now exceed 10 billion yuan.