Hua Tian Hotel shareholders are accused of insider trading before the good buy accurate

Our correspondent Tian Lei with Everbright Securities was identified as insider trading and was issued by the SFC "the most serious ticket in history", let the event come to an ending, however, the capital market has never been no lack of opportunistic, coincidentally, to pull off the appearance of high growth, Huatian Hotel (000428) was pushed to the cusp of insider trading. Large shareholder increase in point of dispute August 29, Huatian Hotel released 2013.5 Annual report, the data show that the first half of the hotel to achieve business income of 904 million yuan, the year-on-year growth of 17.05%, attributable to the owner of the parent company profit of 62.6019 million yuan, an increase of 27.29%, The company also estimated the first three quarters of Year-on-year net profit growth 60-100%. This means that in the first three quarters of this year the company's earnings were 1.4-175 million yuan, corresponding to the earnings per share reached 0.195-0.244 yuan. Such high performance expectations are also a surprise to many investors, perhaps when investors see such beautiful data would like to buy the shares of Huatian Hotel, but the fact is that the company's share price has already reflected such growth, August 29 data shows that The company's share price closed at 8.88 Yuan, up 128% from its low of 3.9 this June. It is worth noting that all this seems to be in the hands of the company's big shareholders and executives, who are also accused of insider trading for their precise buying before the price surge. Huatian Hotel large shareholder's holdings were as early as the beginning of this year. February 1, Huatian Hotel announced that the holding shareholder of the group's concerted action, the company executives and holding subsidiaries of senior executives from January 29 to 31st through the two-tier market increased the company's shares. Among them, Hua Tian Group chairman Chen Jiming, discipline Inspection Secretary Guo Min, chief accountant Guo Lihua and party committee member Yin Wei four people accumulated increased 113800 shares; Huatian Hotel and its holding subsidiary executives (including relatives) accumulated more than 343400 shares. Huatian Group and its concerted action committed to the next 12 months with its own funds to continue to overweight, accumulated not less than 300,000 shares. June 20, Hua Tian Hotel issued a notice, received the holding shareholder Hua Tian Industrial Holdings Limited, the notice, February 1, 2013 to June 17, 2013, Hua Tian Group through the Shenzhen Stock Exchange trading system total increased holdings of the company's 4.2712 million shares, accounting for the company has issued the total shares of 0.5941%, has completed overweight plans. On the same day, the CIC Securities Zhang Radium published a study, pointed out that major shareholders to complete overweight, to boost market confidence, to maintain the company's strongly recommended rating, the target price of 6-7 yuan. The company held its fifth session of the 16th meeting of the Board of directors in the two weeks after the major shareholder completed the announcement, and adopted six bills including the motion on introducing new development model in the development of company real estate projects. The prelude to the company's stock price soared. July 8, Zhang Lei, a securities analyst at CIC, released the study again, saying the contract model would boost potential release and maintain a strongly recommended rating. July 13, the company announced the first half of the performance growth 55-65% performance forecast. July24th, the company again published the Voluntary Disclosure report of the Trusteeship Hotel, introduced the situation of six hosting hotels. On the same day, Zhang Lei, a securities analyst at CIC, released another study, saying that the hotel trusteeship of the off-site expansion of the new growth of profits, maintain a strong recommended rating. During this period, the company's share price has maintained a steady rise in the pattern. Since entering August, the company's share price has started to accelerate, rising to a high of 9.75 yuan before the announcement of the report. There is no doubt that the company's frequent release of positive information and the Agency, represented by the CIC Securities researcher Zhang Radium, have been repeatedly recommended as the driving force behind the rise in share prices. For big shareholders, it is hard not to be suspicious of insider trading, as it is difficult to get overweight before a listed company makes an intensive announcement. So, exactly what kind of money is behind the scenes to pull the real strength of the stock price? Hunan Department of Hot money to promote the stock price rise or close contact with the company from the Hua Tian Hotel announced half a year, the top ten circulating shareholders without funds or brokerage figure. 6.318 million shares of the first quarter of the Xinhua industry Cycle Fund Also in the semi-annual report withdrew the top ten circulating shareholder list. No agency intervened before the stock price soared. And in the July after the rapid rise in stock prices, has three times into the billboard, there are few institutional figures. As can be seen, although the brokerage fellows desperately sing much, but the buyer's agency does not seem to buy it. Hot money is the main driving force driving the price rise. So which of the hot money is driving the stock price up? Data show that the hotel in the current round of the rally, in July 18, July 26, August 8 three times to touch the trading board. According to the Billboard data, a total of four Changsha in Hunan province are listed in the Securities sales office. Among them, China International Finance Co., Ltd. Changsha 31 Avenue Securities Business Department, Fortune Securities Limited liability company Changsha Shaoshan North Road Securities Sales department two times respectively, China National Securities Limited Liability company Changsha Station North Road Securities Business Department, Founder Securities Co., Ltd. Changsha Huang Xing Road Securities business Department respectively on the list. It can be seen that the Changsha area of hot money is to promote the company's share price rise the most important long strength. It is worth noting that the Huatian Hotel itself is a Hunan listed company, registered in Changsha. It is unclear whether there is a subtle link between the floating capital and the listed companies and their major shareholders. But there is no doubt that the big shareholders and the executives of listed companies that have increased their holdings prior to the stock market should be the biggest winners in a short jump in shares of listed companies and their executives, controlling shareholders, local capital and brokerage fellows. An endless stream of information disclosure errors it is noteworthy that the company issued the "correction notice" the second day of the semi-annual report, and this is the hotel in 2 years, the fifth time in the release of the correction notice, the information shows that the original announcement did not disclose participation in financing margin business shareholders, while the top ten circulating shareholders have appeared a margin margin account " Huatai Securities Co., Ltd. Customer credit transaction Guarantee Securities account ", the change of the notice will be given in this case, and at the same time to the top ten circulating shareholders to participate in the specific situation of bond customers to give specificDew。 The company said that in the future will strengthen the relevant rules to learn, to avoid similar mistakes happen again. As we all know, the information disclosure of listed companies is a bridge for public companies to fully communicate information to investors and the public, which is self-evident to investors. However, the retrospective, surprisingly in 2011 since the Hua Tian Hotel has issued five correction notices, throughout the "patch bulletin" error content, accounting errors, digital errors, such as the motion of the "error" abound. In particular, the February 2011 company Distribution Bulletin said that the 07-09-year total tax payment of 4.08 million yuan, and the first quarter of 2011 impact, the same year December the company issued a correction announcement, said in advance confirmed the transfer of equity investment income of 53.986 million yuan, Other receivables of 122 million yuan, so that 2011.5 annual reports, three quarterly changes have taken place. The 2012 correction was a correction to the issue of the fifth general meeting of the provisional shareholders, the number of previous issues changed from 5 to 6, while individual issues changed, while the correction in 2013 involved digital errors that led to a digital error in the number of shareholding holders increasing. For these errors, the company is the same as "staff negligence" "Staff of the rules understand not thoroughly", the bulletin also did not forget to investors said "sorry", but repeatedly involved in the direction of errors can not be used "negligence" two words to stall. Some investors have questioned, for those who broke some very important, enough to affect investors judgment, is a listed company, "deeply sorry, please understand" can be made up? "Most corrections bulletins reveal information about changes to basic data, but this is important if it involves information that can affect stock price movements." Like 2011.5 Annual report, three quarterly bulletin, this not only reflects the confusion of internal governance, but also the attitude of the problem. "Insiders in the interview, said that for listed companies in the Information disclosure links do not pay attention to the current situation, should cause regulatory concern."