Treasure Break Mystery Investigation: Zhang's brother Capital maneuver

Click to view the latest quotes January 7, the Guangdong Anju Digital Technology Co., Ltd. (300155.SZ, under the "Residential Treasure") listed transactions all the way down, the first day break was questioned.　　After the break of the stock price low hovering, unpopular industry positioning, surprise shares of the suspense, "shell" subsidiary of the delicate layout, the cloud of doubt is likely to become a gem expansion of the image of the alternative specimens. This reporter Sun Yongjie intern mana from Guangzhou January 17, Home treasure Listing Day, no celebration banquet, no thank you. The successful landing of the gem does not seem to bring enough joy to the otherwise obscure High-tech company. "At a sensitive time, all the top executives have been meeting for several days."　　January 18, the head of the Investor relations Department of Bao An, said to the Times weekly reporter.　　Obviously, the first day break, the stock price continued to lower, let the home treasure deep Mire, but originally a corners from the primary market investors of the rich feast, also seems to be a temporary solution to the chaos of the Bureau. "Broken Mmmm," the leader of the January 15, a brief announcement, the annual profit of 2010 is expected to reach 62 million-66 million yuan, a 20%-30% increase than last year.　　However, such a major positive news, for the first day of the market break of the home treasure, did not play any stimulus, the state of the stock price downturn is still continuing. "It may be aesthetic fatigue, there are so many new shares, pricing is high, the industry is not familiar." "Not every stock has the energy to elaborate," said He Yangyang, an analyst at China Mail Securities.　　Obviously, did not tell a wonderful story, not enough hype but set a high price of the home treasure, the first day break did not surprise the industry. "Mainly affected by the trend, because a lot of recent break, before the price is relatively high, by the trend dragged down, the morning of January 18 even five new shares have fallen below the IPO prices."　　January 18, China Airlines Securities analyst Chu Chen to The Times weekly reporter, on behalf of the industry for the settlement treasure break the unanimous view. However, it is worth noting that, as the first day break in 3 months of new shares, is also in the second round of the new issue system reform after the first break of new shares, the impact of the market, it is clearly not a reasonable reason for the day of the home, even can say that the IPO restart, the third wave broke mmmm leader. "It is said that the SFC in the National Work conference this year, the new Sanbanxi began to expand, accelerate, to reduce the threshold, and the current OTC transactions are some of the main technology companies, pricing prices are relatively low, this for the news of the same time the listing of the home treasure also has a certain impact."　　"Chu Chen said. The mysterious "Big Brother" prospectus shows that in 2008, the market share in the industry in 12.1%, in the leading position. However, there is no indication of the source of data and third-party sources of information. Almost all the investment bank and securities practitioners interviewed said that the "community security" and "building intercom" system softwareRelatively unpopular industry positioning, in the home treasure before the listing, there are few specialized industry analysis reports, the relevant data are not known. The core competitiveness of the Home Depot is not reflected in the prospectus. "Mainly is intercom system, home system, do not know is not in the means of implementation has its own characteristics." If it is general or commonly used security software, it will not have a unique competitive advantage.　　"Chu Chen said. According to the prospectus, the development of residential treasure product development has been leading the industry, a total of 35 patents, software copyright 8. But 2008 years to be identified as the software industry, the core technology is more like "temporary" acquisition. November 7, 2007, Mr. Zhang control people, Zhang Pin will be the individual's Guangzhou easy to see Communications Network Technology Co., Ltd. (hereinafter referred to as "easy to see communications") 80% of the equity injected into the home treasure. The prospectus said, "Easy to see communications in the business only for the issuer to provide building intercom system and intelligent Home system software products", and prior to the main engaged in the purchase of liquid crystal displays, lenses, IC chips, cameras, electronic components, etc., welding assembly, and then sales.　　Obviously, it is possible to undertake the easy to see the core technology of communication, but also by the use of High-tech software so more vulnerable to the concept of the capital market.　　And after the acquisition of the transformation of the software enterprise, according to the sale of software revenue can be levied 17% to 14% of the principle of housing treasure to receive tax concessions, the performance has been greatly enhanced in the prospectus reporting period, VAT rebate in its annual profit of the proportion of even reach 30.45%.　　What is even more curious is that, January 15, the annual performance growth of the housing PO issued after the announcement, its Investor relations department of the Times weekly reporter said, "Performance growth factor is too sensitive, is still not published." Surprise-making rich questioning than the surprise integration of mergers and acquisitions to seek a listing, housing treasure suspected of a surprise stake in the creation of wealth, before more public concern, questioning sound continues. At the end of 2009, Zeng Li invited three companies to invest in the venture, and Thai venture investment, the sea sinks venture Investment, Canton letter Germany respectively shares 1.5 million shares, 1.5 million shares, 1 million shares.　　However, the background of three VC companies is intriguing. According to the public information, Guang letter is a wholly-owned subsidiary of GF Securities, the company has a direct investment companies in the state letter Hongsheng Securities will be the obvious opportunity to transfer GF Securities, the reason has been puzzling.　　According to the Shanghai Business Daily reported that the project by the GF Securities Investment Bank is responsible for the Canton letter is also introduced by the German, but then the GF securities to take over the securities, the internal reasons unknown. However, the outside world is more concerned about and Thai venture investment, Sea Exchange Ventures-the two established time soon, the ownership structure of a very special venture company. Hai Hui Venture was founded on August 12, 2008, its general partner for Limingzhi, limited partner for Zhongshan Venture Capital Enterprise (limited partnership), Partners for 4 natural persons, Jiangxi Mei-yuan pharmaceutical industry, 2 natural shareholders, Lin Lina and 20 natural persons. Prior to that, the Sea Exchange venture hadParticipate in the Pre-ipo package, however, the project was urgently called off before the listing.　　and Thailand to invest a total of 40 shareholders, the largest shareholder ratio of 4.4%, the first 10 shareholders in total holding only 34.49% shares, the company has no holding shareholder, no actual control. and two venture capital companies have securities practitioners looming, the company is a shareholder of CITIC Securities Guangzhou Sales Department general manager Chu Wen Sheng, and Thai venture investment there are three former securities practitioners: Oriental Securities original financial advisor Ling Junjie, Oriental Securities original brokerage business headquarters Shang and the Fund research Department of the former deputy general manager Xu Bin. At the same time, and Thai venture to invest in the original shareholder Li Xia in August 2010 before the listing of 1.8 million yuan will be held to hand over the shares, home Bao sponsor securities have a securities practitioner Li Xia.　　Earlier, the Shanghai business newspaper and other media have questioned whether the two people are the same person, and to provide convenience for the listing of the treasure. With its 49 yuan issue price calculation, to 8 yuan per share of the cost of the shares and Thai venture investment, the sea to create more than 60 corners investors all 3 million shares, a total profit of 123 million yuan. "A lot of venture capital companies are now led by senior members of the securities industry to absorb the scattered funds of the two-tier market and participate directly in the new investment in the first market, a bit similar to the ' death squads ' of the two-tier market."　　"The Deputy Director of Investment Management in Beijing, said the time reporter, relying on the listing of the treasure, the rapid creation of successful and Thai venture investment, Sea exchange ventures are likely to be representatives of such investment banks." Zhang's brother dark chess in addition to from the corners of more than 60 VC company shareholders, home treasure listing, the biggest beneficiary is obviously the company's actual control of Mr. Zhang, Zhang Pin Brothers.　　To the issue price of 49 yuan, holding 28.1 million shares of the Mr. Zhang and holding 19.4 million shares of Zhang Pin, holding the stock market value of 1.376 billion yuan and 950 million yuan, holding the company 1 million Mr. Zhang wife Li Le, the price is nearly 50 million yuan.　　However, unlike the single main body of the common gem listed company, apart from the housing treasure, Zhang Brothers in the integration before the listing, not integrated into the listed company assets of the subsidiary of Germany (Guangzhou) Electronic Technology Co., Ltd. (hereinafter referred to as "de Ju ann Guangzhou"), is left "infinite reverie." According to the prospectus, building Research and Development Center is one of the important goals of the public fund-raising.　　April 16, 2007, Guangzhou Land and resources and the Housing Authority signed the "state-owned land use right to sell the contract" (Sui country out of 440116-2006-No. 0000103), the contract is the area of 46581 square meters, the total amount of transfer of 16769160 yuan. At that time, Guangzhou and the land resources and the Housing Authority agreed that the contract will be the project company in Guangzhou, the use of construction land. The settlement treasure paid the land transfer, but the German residence in Guangzhou subsequently to the Guangzhou land resources and Housing Authority applications, Guangzhou the land and resources and the Housing Authority agreed to the aforesaid contract by the issuer of the predecessor changed to the German home of Canton.　　By November 2009, the Home Depot has been unable to meet the production and operation needs of the production base, at a price of 45.009 million yuan to the German residence in Guangzhou to buy the land and the ground under construction part of the project, and prepaid 50% money. June 30, 2010, the total assets of the German home in Guangzhou 69278937.83 yuan, net assets of 33480245.65 Yuan, liabilities of 35798692.18 Yuan.　　This 35.7987 million-dollar debt, at least 22504500.00 yuan from the housing treasure, is the "prepaid" to the German home in Guangzhou to buy the building of money. Obviously, although the relationship between the residential treasure and the German residence in the canton of the related transactions, occurred in the stock before the listing, legal compliance and "does not harm the interests of investors." However, before the listing has been an advance of the large capital of the treasure, is still in the construction of the building of the German residence in Guangzhou will not affect the business is still unknown. "The issue is too sensitive to be answered in the near future and will certainly invite you to attend," the statement said. January 18, the Secretary of the Office of the Secretary for the Times weekly reporter conveyed to the secretary of the Huang Weining, the current refusal to answer the relevant questions.