Zhongxin Jingwei Client September 8 (Zhang Yunan) In 2019, the A-share market staged a "prison situation". According to the statistics of Zhongxin Jingwei client, up to now, the actual controllers of 12 listed companies have been arrested, involving 771,200 shareholders.
12 actual controllers were arrested
The client of Zhongxin Jingwei noticed that the actual controllers of 12 A-share listed companies were arrested during the year. From the reasons, there were many cases involving economic crimes, including illegally absorbing public deposits, illegally disclosing important information, misappropriating funds, etc. ST Changyu and the actual controller of Storm Group are suspected of bribery; In addition, the real controllers of Sunflower Pharmaceutical and Xincheng Holdings are individuals suspected of committing crimes; *ST Zhongke real controller involved in triad crimes.
*ST Kangde has received much attention since the disclosure of the annual report on April 30, and 12.2 billion yuan of funds have gone astray, and the company’s annual report has also been issued with "non-standard" opinions. On May 12th, Zhong Yu, the actual controller, was forced to take measures. Since July 8th, the stock has been suspended, and the former White Horse shares have fallen from the altar. In 2015-2018, the company’s net profit was actually negative for four consecutive years, which touched the situation of major illegal forced delisting, and the company’s shares may be subject to major illegal forced delisting.
Storm Group said that since Feng Xin was arrested, the company has been negatively affected in terms of strategic landing, business development and personnel stability. In terms of performance, in the first half of the year, Storm Group achieved a year-on-year decrease in revenue of 89.44%; The net profit was-264 million yuan. According to the regulations, if the net assets of Storm Group are negative in 2019, the Shenzhen Stock Exchange may suspend the listing of the company’s shares.
The youngest controller of these 12 companies is Tang Jun, who was born in 1987 and was selected in the list of "30 elites under the age of 30" by Forbes China in 2017. On March 28th, Derivative Technology announced that Tang Jun, the actual controller of the company, Zhang Lin, the chairman and general manager, Yu Jun, the director, and Jin Haiman, the deputy general manager and secretary of the board of directors, were taken compulsory measures by the public security organs for allegedly illegally absorbing public deposits. The company’s semi-annual report shows that the revenue in the first half of the year decreased by 59.78% year-on-year; The net loss attributable to shareholders of listed companies was 242 million yuan, compared with a profit of 382 million yuan in the same period last year.
Born in 1971, Luo Jing, the actual controller and chairman of Boxin shares, is known as "Mulan in business", and owns Chengxing International Holdings, a listed company in Hong Kong, Boxin shares, a listed company in Singapore, and Camsing Healthcare.
On July 5, Boxin announced that Cyndi Luo, the actual controller and chairman of the company, and Jiang Shaoyang, the director and chief financial officer, were criminally detained by Yangpu Branch of Shanghai Public Security Bureau on June 20, 2019 and June 25, 2019, respectively, and related matters have yet to be further investigated by the public security organs. According to the announcement of Boxin Co., Ltd. on August 8, the board of directors received a written resignation report from Chairman Cyndi Luo on August 8, and after his resignation, Cyndi Luo no longer held any other positions in the company.
Nearly 80 billion market value is gone.
Once the actual controller or chairman has problems, although most listed companies will announce that "related matters will not have a significant impact on the company’s production and operation", the secondary market does not seem to buy it. According to the rough calculation of the Sino-Singapore Jingwei client, the market value of nearly 80 billion yuan evaporated. In addition, Boxin, ST Tianbao and *ST Pengqi all closed down on the day of news disclosure.
From April 30th, the share price of Kangdexin has fallen by 29.6%, and the market value has evaporated by 5.24 billion yuan, involving 155,500 shareholders.
As a GEM stock that has created 29 daily limit records, after Feng Xin, the actual controller of Storm Group, was arrested, the latest closing price of the company was only 4.58 yuan/share, with a total market value of only 1.5 billion yuan. Previously, the highest stock price of Storm Group once reached 123.83 yuan/share, with a market value of over 30 billion yuan.
After Tang Jun, the actual controller of the spin-off technology, surrendered himself voluntarily, the company’s share price went down for nine consecutive "I" boards. Up to now, the share price has dropped from 52.5 yuan on March 27th to 11.2 yuan, and the market value of the company has evaporated by nearly 16 billion yuan in half a year.
After Zhang Changhong, the controlling shareholder and actual controller of Great Wisdom, was detained by the public security organ, the stock had three daily limit boards. After Wang Zhenhua, the actual controller of Xincheng Holdings, was arrested, the company’s share price had four short-term limit drops, with a cumulative drop of 37%, and the market value exceeding 35 billion evaporated.
The exchange "hands out" inquiries
Photo by Xin Jingwei Xiong Jiali in the data map
The negative news of the actual controller will bring a series of chain reactions to listed companies, such as the stock price plummeting, the market questioning the company’s debt and operation, etc., and the regulatory authorities also rushed to "shoot". Sunflower Pharmaceutical, *ST Kangde and Storm Group all received regulatory letters from the exchange.
On April 10th, some media reported that Guan Yanbin, the former chairman and actual controller of Sunflower Pharmaceutical, was arrested by the People’s Procuratorate on suspicion of intentional homicide. The Shenzhen Stock Exchange issued a letter of concern, asking Sunflower Pharmaceutical to explain whether the above matters may lead to the change of the actual controller of the company and whether the production and operation activities of the company are affected.
Sunflower Pharmaceutical said that the company’s control right is stable and the actual controller has not changed. In response to media reports that Guan Yanbin was suspected of intentional homicide, Sunflower Pharmaceutical said that the actual controller of the company had a dispute with others for personal reasons and caused physical injury, and the judicial authorities took compulsory measures. After the company’s self-examination, there is no situation that should be disclosed but not disclosed in time.
* The progress of ST Kangde’s alleged violation of laws and regulations has also attracted much attention from the market. *ST Kangde announced on July 5 that it had received a notice of administrative punishment from the CSRC in advance, and planned to take measures to ban Zhong Yu, Wang Yu and Zhang Lixiong from the securities market for life. At present, *ST Kangde has only received the Advance Notice of Administrative Punishment and Market Prohibition, and the final result still needs to be confirmed by the Decision of Administrative Punishment.
In its reply to the inquiry letter of Shenzhen Stock Exchange, Kaiying Network said that Wang Yue resigned on March 25th, 2019 and no longer held any position in the company. Wang Yue’s loss of contact and detention did not affect the company’s business development, daily production and operation, and the stability of management. Feng Xianchao, the deputy general manager, is being investigated by the public security organs for his alleged personal economic crimes. During the investigation, Feng Xianchao’s work was taken over by other members of the company’s management. The matters under investigation did not affect the company’s business development and daily production and operation, and other members of the company’s management still performed their duties normally. (Zhongxin Jingwei APP)
(The opinions in this article are for reference only, and do not constitute investment advice. Investment is risky, so you should be cautious when entering the market. )
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