Holding change on the eve of the stock price suddenly fell institutions fled!

In Guo Guangchang's Fosun galaxy opened "sell sell sell" process at the same time, another well-known Zhejiang businessman Shen Guojun's Yintai system, but also in the capital market for the big retreat.

After completely withdrawing from Beijing Investment Development (once known as "Yintai shares"), on December 5, Yintai Gold announced that the company received a notice from Shen Guojun, the company's de facto controller, and the controlling shareholder, China Yintai Investment Company Limited, on December 4, 2022, and was informed that a certain enterprise was actively contacting it to carry out equity cooperation in the gold and resources sector. Resources sector to carry out equity cooperation, does not exclude its through the enterprise agreement to transfer its shares of the company to realize the change of control matters.

However, and the general company reorganization eve of the stock price soared on the contrary, on Friday Yintai gold but volume down. After-hours LW list data show that the day of the deep stock pass special seats to buy 151 million yuan and sold 138 million yuan, the second agency net buy 51.967 million yuan, three agencies net sell 273 million yuan.

2022 at the end of the third quarter, Guangfa Multi-factor Flexible Fund, BARCLAYSBANKPLC (Barclays Bank PLC), Huatai Berry Fortune Fund new into the top ten outstanding shareholders of Yintai Gold.

Yintai gold or change of ownership

Equity counterparty for the gold industry

December 5, yintai gold opened the market is suspended.

Yintai Gold announced on the same day, the company received on December 4, 2022, the company's actual controller Shen Guojun, controlling shareholder of China Yintai Investment Co., Ltd. notice, was informed that an enterprise is actively approaching, to carry out equity cooperation with its gold resources sector, does not preclude it through the transfer of its shares held by the company to the enterprise agreement to achieve the change of control matters.

Yintai gold said, the aforementioned transaction matters such as the smooth implementation of the counterparty will obtain the company's 20.93% of the shares, the specific program to be signed by all parties to the relevant transaction agreement shall prevail, the above matters may lead to a change in control of the company. The counterparty for the gold industry, transaction-related matters are subject to the prior approval of the authorized departments.

From the point of view of the company's operation, since the significant growth in 2018, the performance of Yintai Gold in recent years have maintained a good development trend.

In the first three quarters of 2022, Yintai Gold realized an operating income of 643,241,500 yuan, an increase of 9.92% over the same period last year, and realized a net profit attributable to shareholders of the listed company of 93,065,100 yuan, a year-on-year decrease of 10.39%; however, the company's third-quarter net attributable profit of 364 million yuan was an average of 28% more than that of the first and second quarters.

For the future development, 2021 Yintai gold has done a 2-3 years development plan, intends to through 2-3 years of efforts, and strive to realize the company's control of the amount of retained resources, the main product production doubled at the end of 2020 on the basis of.

In the 2021 annual report, yintai gold specifically emphasized the strategy of going out, showing the company's determination to speed up international mergers and acquisitions. The company's subsidiary, Shanghai Shenghong, set up a Singapore subsidiary, and made corresponding layouts in terms of talent reserves, capital, financing channels, etc., to actively prepare for going out.

In the operation of the existing mines at the same time, yintai gold has been actively investigating domestic and foreign high-quality projects, the company will choose the opportunity to continue to promote the acquisition of projects, and strive to make the company to add a few more mines with good profitability, to further expand the company to make the company grow stronger, so that the company's development to a new level.

According to the investor relations activity record sheet released by Yintai Gold, in 2022, investment institutions have had two centralized conference call research on the company. One was on August 29-August 30,*** with 101 institutions participating in the research; the other was on October 30-November 3,*** with 130 institutions participating in the research.

Stopping before the release of the volume of down, institutions flee

However, and the general company reorganization eve of the stock price surge on the contrary, on Friday, Yintai gold, although the early morning high open, but a minute after the beginning of the turn down until the afternoon to seal the downward trend. After-hours LW list data show that day, the special seat of the deep stock pass to buy 151 million yuan and sell 138 million yuan, two institutions net buy 51.967 million yuan, three institutions net sell 273 million yuan.

Prior to this, yintai gold shares have been oscillating upward, but since November 28 began to turn around and downward.

From the secondary market holdings, at the end of the third quarter of 2022, the institutional shareholders of Yintai Gold, in addition to Huaxia Energy Innovation Fund holdings and Shanghai Baotu Investment Management Center (limited partnership), there are new entries into the top ten liquidity of GF Multi-factor Flexible Fund, BARCLAYSBANKPLC (BARCLAYSBANKPLC), and Huatai Perry Wealthy Fund. Among them, yintai gold is huatai berry wealth fund's first big position, in the fund's top ten positions, in addition to yintai gold, there are three gold stocks, namely, zhongjin gold, shandong gold, hunan gold.

Currently, in the A-share gold stocks, there are state-owned holdings in the gold gold, Shandong gold, western gold, Hunan gold, Hengbang shares, as well as private capital Zijin Mining, Zhongrun resources, Chifeng gold, *ST Ronghua.

For the company's stock price in December 2 volume drop, yintai gold on December 5 in the investor interactive platform response said, at present the company's production and operation of all normal, huasheng gold mine resource reserves filing work is in progress.

Yintai Gold also announced on the evening of December 5, the company's third largest shareholder Cheng Shaoliang in the period from September 9, 2022 to November 25, 2022, reduce the company's shares of about 25.24 million shares, reducing the shares accounted for the company's total shares of 0.91%.

Cheng Shaoliang had been the executive president and director of China Yintai Investment Co. from October 1999 to May 2009; from May 2009 to July 2015, he was the executive director of China Yintai Investment Co. and the vice chairman and president of Jingtou Yintai (now Jingtou Development). It was also on July 8, 2015, that Cheng Shaoliang resigned from all positions in Jingtou Development.

"Yintai system" retreat

Yintai Group official website shows that the company by Shen Guojun (full name "China Yintai Investment Co., Ltd.") was founded in 1997, the business covers commercial retail, commercial real estate, business development and investment. The company's business covers commercial retailing, commercial real estate, mineral resources exploration and development, equity investment and other fields, and it owns a number of holding and equity participation companies both at home and abroad, and has developed into a modern enterprise group with outstanding main business, diversified development, and dual-wheel drive of industry and capital.

In the investment and finance sector, Yintai has invested in more than 80 companies in recent years, with an investment amount of more than 10 billion dollars, of which 15 companies have grown into unicorns with a valuation of more than 1 billion dollars, more than 40 companies have realized a smooth exit, and more than 10 have completed listing. The investment scope covers intelligent logistics, intelligent finance, intelligent retail, new energy and other fields, such as Cainiao Network, Netcommerce Bank, Ant Group, ByteDance, Village Bird, Youbao Online, Car and Home, Fun headlines, etc., which help consumer upgrading, technological innovation, and change a lot of traditional industries.

In the secondary market, Shen Guojun's "Yintai system" has repeatedly set off mergers and acquisitions, and Shen was one of China's top 10 mergers and acquisitions figures in 2006.

Previously, the "Yintai family" was involved in holding A-share listed companies, including Yintai Gold, Beijing Investment Development, New World, Wushang Group and Nandu Property.

As of 2008, China Yintai was the largest shareholder of Beijing Investment Development. But from 2009, the top shareholder changed to Beijing Infrastructure Investment Co. and Yintai retreated to second place, a shareholding pattern that lasted until 2014. Since then, Yintai's original 24.83 percent stake has been split into 20.78 percent held by Cheng Shaoliang and 4.05 percent held by Yintai, and this shareholding pattern has continued until the end of 2020.

But from the first quarter of 2021, Yintai began to reduce its stake in Beijing Investment Development, by the end of 2021, its shareholding dropped to 1.05%; in the first quarter of 2022, it further dropped to 0.84%, with only 6,236,650,000 shares remaining. in the second quarter of 2022, Yintai had withdrawn from the top ten shareholders of Beijing Investment Development.

From now on, Shen Guojun and its Yintai holding of A-share listed companies is only left in Yintai Gold, if the change of controlling stake in Yintai Gold is successfully completed, Shen Guojun's flag has no more holding of A-share listed companies.

Previously, on May 19, 2022, the Beijing Third Intermediate People's Court issued a consumption restriction order against Shen Guojun, requiring him to refrain from committing acts of high consumption and consumption that are not necessary for life and work.

The Restriction of Consumption Order shows that the applicant for the enforcement of this case is Holsworthy Limited, because of the case of Zhijiang New Industry involving domestic and foreign arbitration awards, and failed to fulfill the obligation to pay determined by the effective legal instrument according to the period specified in the notice of enforcement, therefore, Zhijiang New Industry and Shen Guojun, the company's legal representative, were restricted from high consumption.