Shandong benefit small shareholder's loss trading (PHOTOS)

Will you transfer the original stock of an upcoming industry leader to the original price? Many people say "no," but others do, and more than one person has done so more than once. The protagonist of this scene is Shandong Yi Sheng Species Livestock Co., Ltd. (hereinafter referred to as "Shandong Yi Sheng") Chairman Cao Jishong and more than 10 original Shandong benefit shareholders.　　This "strange" incident began in Yantai, a small local enterprises restructuring. Shandong Probiotics Stock Ownership Structure chart Handong Cao Jishong Other 24 shareholders 7.19% 68.61% 24.2% Shandong Animal Husbandry Information Center Hu Xiuling 30% 70% 60% 40% Holstein cow Lunan Boar probiotic Medicine probiotic Dairy Disease Research Institute plant tissue Culture Mountain The road of the east benefit breed Livestock and Poultry Co., Ltd. as China's largest ancestor breeder breed chicken breeding Enterprise, Shandong benefits before the successful meeting soon, will land a a-share market.　　However, today's "Chicken King" was just a small and obscure state-owned enterprise. Shandong benefit of the predecessor of the former Yantai Yi Sheng Poultry Co., Ltd., by the Cao Jishong and other 34 natural persons with cash funds to set up.　　They are the former Yantai foreign economic and Trade Commission subordinate Yantai food import and export company subsidiary-Yantai Foreign Trade poultry Company's employees. 1996, Foreign Trade poultry restructuring, to 1.3 million yuan price will be transferred to foreign trade poultry property rights to foreign trade poultry internal workers.　　Turn to the new Year, foreign trade poultry Cao Jishong, Handong and other 34 employees to raise funds established Yantai Yi Sheng Poultry Co., Ltd. (hereinafter referred to as "Yantai Yi Sheng") paid by the above assets. At that time, Yantai Yi Sheng registered capital of 1.475 million yuan, all the capital from the Yantai benefit of 34 employees jointly funded by the form of bearer shares issued.　　Among them shareholder Cao Jishong invests 842,000 yuan, the contribution proportion 57.08%, is the controlling shareholder. 1998, Yantai Yi Sheng carried out the first equity transfer and increase capital, shareholders Yongdian will be 30,000 yuan, Shambin will be 20,000 yuan, a total of 50,000 yuan in accordance with the original amount of capital transfer to Li Ziyu (Lee was the head of the Logistics department, now retired).　　Shareholder Li Jiangshan, Li Shanqiang, Cao Liyan, Teng Yikun, Chen Peijun respectively held their own yantai benefit of 10,000 yuan, Rijer will be held by the yantai benefit of 8,000 yuan capital, a total of 58,000 yuan in accordance with the original amount of capital transfer to Gombellian (Geng was at that time as the deputy general manager of Yantai Yi Sheng, the current company vice Chairman). At the same time, Yantai benefit students in cash to increase the amount of capital increase by 27 of the shareholders in cash payment. After the completion of the replenishment of Yantai, the registered capital increased from 1.475 million yuan to 2.1405 million yuan.　　Cao Jishong's shareholding has been slightly increased to 57.37% per cent. Now, everything seems to be normal, the normal transfer of equity, the normal increase in capital, although the transfer price is based on the original amount of capital, but the company just set up two years, the future is not clear, the original price transfer seems to be nothing wrong.　　But this is just the beginning. "BeforeSubsequent "Liben 2000, Yantai Yi Sheng again carry out equity transfer and increase capital, sun as will hold Yantai benefit 30,000 Yuan Capital, Yu Hongmei will hold 15,000 yuan capital contribution, total 45,000 yuan in accordance with the original amount of capital transferred to Gombellian 15,000 Yuan, Sprinus (song at that time as technical director, Research and development agencies are responsible for 10,000 yuan, Wang Guohua (Wang was then sales manager, the current procurement minister) 10,000 yuan, Liu De hair (Liu was the production director, the current General manager assistant) 10,000 yuan.　　At the same time, Yantai benefit to increase the capital to 2.9636 million yuan, the transfer of equity and increase in capital, Cao Jishong shareholding ratio increased to 59.66%. 2001, a similar transfer of equity and capital increase again. Shareholder Shangqiang will transfer 60,000 yuan to Wang Ling according to the original contribution amount. At the same time, again in cash to increase capital, and the absorption of new shareholders Liaobao, Jiang two people (Yao has been the director of Feed factory, Jiang for technicians, the current minister of hatching).　　After the completion of this increase, the company registered capital increased to 4.1418 million yuan, Cao Jishong shareholding ratio and slightly increased to 60.5%. The same is the same as the "Original amount of capital" transfer.　　Taking into account the growing growth of Yantai probiotic, taking into account the years of deposit interest and inflation, shareholders to transfer shares at the original price seems to suffer some losses. More "Suffer" is still in the back. The same year in September, Yantai benefits to capital accumulation fund of 5.8582 million yuan to increase capital, the company registered capital from 4.1418 million yuan to 10 million yuan, increased by more than one times, the original shareholders in proportion to share the amount of the increase.　　This means that shareholders who had previously transferred their shares by the original price have lost the chance to double equity. According to conventional logic, if a company develops well, the price of its original shares should be getting higher. But in the case of benefiting, there seems to be no such situation.　　Shareholders are still "on the same wave" of the original contribution of the transfer of shares, waves after wave, until 2007 years. Only one premium in February 2002, Yantai Yi Sheng changed its name to Shandong Yi Sheng species Livestock and Poultry Co., Ltd. (hereinafter referred to as "beneficial to the Limited"), the same year July,　　Shareholder Yao June will be the owner of a limited 72,000 of the capital contribution of 17,000 yuan in accordance with the original amount of capital transfer to Wang Ling (the king at that time as a technician, is leaving) and Cao Jishong, of which the transfer of 13,500 yuan to shareholders Wang Ling, 3,500 yuan transfer to shareholders Cao Jishong.　　Since then, in the three-year period of 2005-2007, Cao Jishong frequently absorbed small shareholder shares at the original price. 2005, shareholders Li Ziyu, Sun Zhongcai, Wang Ling will each hold their own 238,700 yuan contribution (accounted for 2.17%), 253,000 yuan contribution (accounted for 2.3%), 173,000 yuan Contribution (1.57%), shareholder Chen will hold a beneficial limited 31,900 Yuan Capital contribution (accounting for 0.29%　　) is transferred to Cao Jishong in accordance with its original contributions. 2006, Tang Yigang will be 265,100 yuan (accounted for 2.41%), Yao June will be 55,000 yuan contribution (accounting for 0.5%) according to its originalTransfer of funds to Cao Jishong. Through several equity transfers, the Cao Jishong shareholding has increased to 68.61%, up 11.73% from 1997.　　At this point, from 1997 to 2007, about 10 years of time, a total of 19 equity transfer, and regardless of the event near, all is in accordance with the original price transfer, and the transferee exclusively for the company at all levels of supervisors or technical personnel.　　There are exceptions, however. August 2007, the benefit of the limited overall change to the stock company on the eve of a transfer. Cao Jishong, who had often played the role of the transferee, had become the transferor, and would hold about 122,200 yuan (1.11%) to transfer to Liu Yingwei (incumbent director of Beijing). This time not at the original price, but a premium, the transfer price of RMB 1 million yuan whole. This is also the only one of the 20 transfers that the prospectus shows. Before the capital accumulation was converted to capital in 2001, Cao Jishong's contribution was $2.5059 million, and after a proportional increase, Cao gained 3.5441 million yuan, with a total contribution from 2.5059 million to 6.05 million yuan.　　In other words, the transfer of the 122,200 Yuan, Cao actual contribution only 50,000 yuan a little more, Cao Dayo earned 950,000 yuan.　　If the transfer is used as a reference, the shareholders who have been transferred by the original contribution will not know how to feel.　　Profit and loss arithmetic through a simple arithmetic question can know how to transfer the shares in the original amount of money in the end how much loss. 2007, at that time, the benefit was limited to allocate 30.9172 million yuan in the unallocated profit, distribute the cash dividend, and distribute the shareholders according to the proportion of their contribution. In 2008, Shandong Probiotics allocated 6 million yuan of the unallocated profit to the paid-in capital of 81 million yuan, distributing cash dividends and distributing the shareholders according to their proportion.　　In 2009, Shandong Probiotics allocated 20 million yuan of the unallocated profit to the paid-in capital of 81 million yuan, distributing cash dividends and distributing the shareholders according to their proportion. The total profit of three times is 56.9172 million yuan. If a shareholder who transfers shares with the original amount of capital contribution, at that time, 10,000 yuan (for example, the Li Jiangshan of the transfer of shares in 1998), after an increase in capital gains, the contribution will become 24,100 yuan, accounting for about 0.22% of the total share capital, then he now received a cash dividend of about 125,000 yuan.　　But it's all hypothetical. At the same time, Chairman Cao Jishong's shareholding ratio has been increasing year after year. Whether it is a company dividend or a stock listing, Cao should be the most profitable. In the province and the benefit of the industry very similar listed companies and shares to do the comparison, people and shares yesterday close to 16.95 yuan, at this price, Cao Jishong Wealth of about 940 million yuan.