Demon Stock Shares In The Stock Market Record: Letter Phi Illegal Collection Of Regulatory Letters Secretaries Resigned

China shares, which had surged 19 times, welcomed Waterloo.

? ? On April 7th and 8, the Sino Japanese stock market stopped trading for two consecutive trading days. In the past month, the seemingly uncommon listed company is still on the rise in the "5G", "storage" and "chip" acquisition cases. The cumulative increase has reached 177.71% since 2020, and the intraday share price has climbed to 219 yuan, price earnings ratio. Break a thousand times.

But in less than a week's time, the plot was in sharp decline. In the middle of the Sino Japanese stock market, the stock price was in the ascendant, but there were a series of incidents such as the acquisition of "shell company", the resignation of senior executives, insider trading and information disclosure violations. The Guangdong Securities Regulatory Commission has made a public statement. It will conduct a comprehensive verification of the media queries. If we find any clues, we will initiate the investigation procedure and strictly investigate and deal with it in accordance with the law.

In April 6th, the management department of the Shenzhen Stock Exchange gem issued a regulatory letter to the Sino submarine shares, pointing out that the information disclosure of its acquisition of Datang stock ownership matters is inaccurate and incomplete.

On the evening of April 8th, the China Stock Exchange announced that Zhang Jihong had resigned and resigned from the company's duties as a result of the collection of regulatory letters.

In twenty-first Century, the economic news reporter also learned from people close to regulators that the exchange has already excavated its materials in view of the problems of abnormal trading in Sino submarine shares.

Dive into a "monster"

Pierced the fuse of the "hidden share" mask, which originated from its latest acquisition.

? In March 13th, the Sino submarine shares disclosed a "suggestive notice" on signing the letter of intent to purchase shares (hereinafter referred to as the "tip notice"), which said the company signed an equity contract with Hefei high tech Datang Industrial investment partnership (limited partnership), Hefei Yi Chao Electronic Technology Co., Ltd., Hefei Rui Han Electronic Technology Co., Ltd., and Qingqing City Hai core investment partnership (limited partnership). The letter of intent is to purchase 9.05% stake in Hefei core technology Co., Ltd. and Hefei Datang Storage Technology Co., Ltd. (hereinafter referred to as "Datang storage") through cash, so as to seek to hold more than 80% of the controlling stake in Datang storage. 100%

The shares of the latter will be revised to 75.065% from 84.116%.

In the acquisition process, the Sino submarine shares have been emphasizing "promising prospects for storage chips, secure storage products and other fields", thus cutting into the new high-tech industry field.

At that time, coincided with the chip plate in the ascendant, a large influx of technology stocks valuation increased sharply. In the absence of fundamental support, the share price of the shares was also "up and down" in the unsettled takeover, which rose by 151.97% in March. However, its strange operation has attracted the attention of the market.

As of March 12, 2020, the company had not signed the relevant letter of intent to purchase the core of the city, nor did it disclose the main financial data for the acquisition of Datang storage. Until the Shenzhen Stock Exchange urged, the real situation of Datang storage came to the surface.

The company was established in August 2018, in 2019 and in 2020, with a net profit of -810.02 million yuan, -250.96 million yuan, and total assets of 153 million yuan, the high price of 270 million yuan was invested by the Sino Japanese stock market.

In addition, two days after the purchase intention was released, Yan Hong and Jiang Xiao, deputy general manager of China stock exchange, resigned. Yan Hong also held 1 million 536 thousand and 300 unexercised A share options granted by the company's stock option incentive plan in 2019.

In fact, this kind of "hot spot" type of flickering restructuring of the hidden shares did not do less. Since 2019, there have been many companies in the Sino submarine stock market, most of them are not long established, which are in line with the hot topics at that time. It includes the 100% share of Beihai Hui Yu Network Technology Co., Ltd., which entered the field of big data in 2019, at the cost of 1 yuan, which was purchased in the middle of 7 months, at the cost of 1 yuan. In the 9 month of 2019, in the middle of the month, the shares were re thrown, and the Shanghai letter, which paid 0 capital at that time, was purchased at RMB 1 yuan, pursuing the concept of "gold trading APP".

What's more weird is that before a series of capital operations, hot spots and stock prices go wild, a private agency has already lurked ahead of schedule. Starting from May 9, 2019, Beijing Ze Ying Investment Co., Ltd. (hereinafter referred to as "Beijing Ze Ying") has bought 16 large shares of potential shares through many private equity funds, and only 5.71% of its shareholding ratio has been disclosed in October 30, 2019.

In Beijing Ze Ying began to buy, the Sino submarine shares immediately "strange" rose, up to May 9, 2019 up to 13 times, turnover and turnover rate is not long.

Wind data show that in the nearly 9 months after the most intense surge (July 2019 -2020 March), the share price of China Central shares rose 1032.85%, but the turnover rate was only 13.79%, with a total turnover of only 17 billion 361 million yuan. At the same time, the number of shares in the Sino submarine stock market is declining. In June 30, 2019, the number of shareholders was 12342, but in September 30th the same year it was reduced to 8276. At the end of 2019, the number of shareholders decreased to 4905, only 3900 households in March 20, 2020.

"Sino submarine shares are typical small cap stocks, with a total capital stock of only 170 million 700 thousand shares and 170 million 100 thousand shares in circulation. Such a small dish, the management is easy to pull up the stock price, do not rule out the suspicion of sitting. In April 8th, a senior investor in Southern China pointed out that

Supervision and enforcement of violations

At the moment, the hottest acquisition of shell companies and information disclosure violations has attracted the attention of regulators. If the illegal behavior is sitting on the spot, the case investigation and various sanctions can not be escaped, only 8 days ago, in April, the shares of the potential stock had received two letters of concern.

And China shares are just the corner of regulators to clear up the A share market ecosystem and crack down on illegal activities. Since the implementation of the new securities law, the illegal and illegal costs of listed companies and key minority have increased significantly.

According to the statistics of reporters, in March, 42 companies were in the "letter of acceptance" because of the letter. Among them, four stocks, such as abbin chemical, were more under investigation by the SFC. At the same time, the new securities law also strengthened the responsibility of Dong Jian Gao's letter. 42 companies received letters, and 119 executives were punished.

At the beginning of April, the 35 Internet company, also known as the "monster stock" in the A share market, was fined by regulators because of the problems of "hot spot mergers and acquisitions" and "information disclosure violations". 35 Internet and its controller Gong Shaohui, chairman and general manager, and then Ding Jiansheng, chairman of the board, were condemned publicly for disclosing information on reorganization, inaccurate disclosure of the reduction plan, and failing to fulfill their reporting obligations.

The new securities law severely punishments some behaviors that violate the principle of information disclosure, and substantially increases the amount of fines, so as to make information disclosure more sound, protect the interests of small and medium-sized investors, and crack down on insider trading. Because a lot of insider trading behavior is to obtain illegal income through asymmetric information, by increasing the penalties for information disclosure violations, so that more investors can get fair information. Yang Delong, chief economist of Qianhai open source fund, pointed out. (Editor: Wu Yan Ling)

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