Suning nearly hundred billion truth: Zhang near Dong Hongyi solution sets of senior executives overweight

The drought was a rain. There must be a catch?

Suningyun (002024.SZ) in the recent announcement of the proposed bank business, the impact of the September 24 close to the recent highs of 13.21 yuan, the market value of 97.5 billion yuan. The following two days, its share price adjusted, 26th closed to 11.77 yuan. On June 25, the company's stock price was low to 4.56 yuan, corresponding to the market value of 33.6 billion yuan. This little board once bear stocks, less than three times times the market value of hundred days, looming hundreds of billions of dollars.

Today, the stock price of Suningyun, has basically recovered to last July when the two major subscription party-Jindong wholly-owned subsidiary of Nanjing Run East Investment Co., Ltd. (hereinafter referred to as "Nanjing run East Investment" and Beijing Hong Yi 0 One 0 Equity Investment Center (hereinafter referred to as "Hong Yi Investment") of the subscription price of 12.15 yuan. At the time, the market was doubtful that the two would insist on a price increase of about 30% per cent above market prices, which, after more than a year of tortuous changes, might have been convincing for the market.

For Jindong, because of the falling share price has been forced to add a pledge of the stock of the embarrassment also basically disappeared, his pledge on the stake in the pressure is also significantly eased.

The recent surge in the news, the reporter also found that in the proposed launch of the banking industry, shortly before the announcement, the company executives two times overweight appears to be very accurate, the increase in the shareholding so far floating surplus to 48.13 million yuan.

Jindong was forced to pledge additional equity

"Before this round of stock price rises, Su Ning shares the long-term downward to jindong pressure quite big." "September 26, a beijing-based private person who has long been concerned about Suningyun business, told reporters.

Let the time return to July 7, 2012, Suningyun stock abbreviation is still "suning appliance".

At that time, the company said it had completed 2011 years of Non-public offerings, and the issue of shares will be listed on July 10. Interestingly, its per share price increased by 12.15 Yuan compared to the stock at that time 8.5 yuan market price of nearly 30%.

The original participation in the increase is also Xinhua life. But the latter, in the face of the 30% price difference, eventually did not choose to participate. As a result, the number of suning appliances issued from 453 million to 387 million shares, raising funds from the planned 5.5 billion yuan to 4.7 billion yuan.

At that time, in response to outside questions, Hong Yi Investment President Hony said that the investment in Suning is based on value, Hong Yi is not to earn two-tier market money, so Hong Yi is not concerned about the performance of the two-tier market. Suning's share price will be much higher than 12.15 yuan in the future. ”

In early June 2012, Jindong pledged its 630.5 million shares to 9.01% per cent of total equity, in order to subscribe for private offerings. Jindong Original shareholding ratio of 27.9%, after the completion of the subscription, Jindong Direct and indirect shareholding ratio increased to 30.34%, Hong Yi Investment is held 1.34%. As agreed, the shares involved in the issue of subscription should be locked for 36 months.

After the completion of the fixed increase, suning continued to descend. Whether Hong Yi does not care about the performance of Suning appliance two market is unknown, but the stock price downward to Jindong brought the visible pressure. In early August 2012, Suning fell to about 6.5 yuan. Su Ning Bulletin said, because of recent stock price fluctuation, according to the Prophase and the trust signed the related financing agreement stipulation, Jindong additional pledge 442 million shares.

"Additional pledged shares to see the two sides agreed, generally after the share price fell 20%." "September 26, a beijing-based investment banker told reporters. According to the above two points of the stock price, the difference is indeed about 20%.

The Beijing private equity Personage said, at 6.5 yuan per share Jindong carried on the additional pledge, June 25, 2013 each share 4.56 yuan, if the stock price continues downward, Jindong may also want to add the pledge.

In fact, there are few shares in the Near East that can be pledged. According to Suningyun 2013.5 Annual report, as at the end of June, Jindong's shareholding of 1.95 billion shares, of which 1.42 billion shares have been pledged.

But starting from the June 25 lows, the Suningyun business gradually rose, September 24 reached the closing price of 13.21 yuan.

For Jindong and Hong Yi Investments, the rebound in share prices or the best response to previous market questions. September 22-24th, in Shenzhen, "Hong Yi Investment 2013 Global Conference", Jindong said, "The last year is the largest since the creation of Suning, we and Hong Yi have experienced the test of the capital market."

Today, Jindong's pressure on equity pledges has eased markedly. According to the Suningyun 2013.5 Annual report, as Jindong part of the stock pledge has been lifted, as of August 30, the disclosure of the report, Jindong pledged shares of the company only about 760 million shares.

Executive Precision Overweight

August 23 is a key node for the Suningyun to rise.

On the same day, the company announced that it is actively engaged in banking operations related to the declaration. At present, the company has submitted to the relevant departments of the initial intention to set up a plan, but because the private banks to set up a supporting regulatory system needs to be further clarified, the company to report the plan also needs to be followed by the relevant rules to optimize and improve, the bank set up matters still need relevant departments of specific

"Suningyun's recent rally, with the announcement of the most active banking relationship." "September 26, two of investors concerned about the Suningyun business of the securities analysts said to reporters.

The private-equity people said that although the preparation of the banking business may not be profitable in the first few years, but in the current market sentiment, this factor has obvious irritant. In addition, the transformation of the Suningyun business is also an imaginative story.

August 23, the company's shares rose 6.11%. Thereafter, continue upward. "The back of the rally is somewhat unexpected, basically out of the fundamentals. I recently, a fund manager told me he was mainly through technical analysis to buy Suningyun, I laugh he is too bad. A brokerage analyst told reporters.

The company's share price went up, but the reporter found that in less than one months before the launch of the bank's blockbuster news, the company's executives were two overweight, and the ambush on the stock-price hike seemed to be very precise.

According to the company announcement, July 15, Suningyun Vice Chairman Weimin, President Kim Jinming, Vice President Mengxiang wins, Vice President Jingun (collectively, "Management") based on the company's strong confidence in the development prospects, on July 15, the total increase of 5,451,847 shares, accounting for 0.074% of the total shares, The average price is 5.29 yuan, the total amount of overweight is 2,884.390,000 Yuan.

July 16, overweight continued. The company's management also added 2,032,100 shares, accounting for 0.028% of the total, an increase in the average price of 5.47 yuan, increase the total amount of 1,111 230,000 yuan.

If the closing price of September 26, 11.77 Yuan, Suningyun business management in July Two increase in the shares of the floating surplus has reached 48.13 million yuan.

Previously, the company management has been overweight. From December 13, 2011 to January 12, 2012, the company's management and other total 12 core managers increased the company's shares, when the average price was 8.486 yuan and 8.438 yuan.

It is noteworthy that the two-time increase in mid-July this year was less than 1 months away from August 23, and Suningyun executives were informed of the company's plans to carry out banking operations in advance?

In fact, August 23 was not the first time the market had been informed of this information. August 21, there are reports that Suningyun is applying to the relevant departments to set up "Suning Bank." Suning confirmed the news and said the move was in response to the country's policy support for rural finance. On that day, Suningyun business Rose 8.43%.

"In July, Suningyun and a lot of buyers to communicate with each other intensively, exchange company's related plans." Of course, it may not be involved in the preparation of the banking business. July 26, a beijing-based brokerage analyst told reporters.

The Beijing private-equity figures confirmed the analyst's statement to reporters. For executives, he argues, the idea of a major issue such as banking will take time to prepare, and they are likely to know in advance.

In response to this issue, the reporter July 26 contact Suningyun, the company said due to process restrictions, the same day can not give the corresponding reply.