A major merger and reorganization of a listed company that was hailed as a model by the industry, at the beginning of the stock price take-off, quietly appeared a mysterious account to open a large position. The account named "Feng Chengtian", after just opening the trading rights of the GEM stocks, bought all the shares of the Shenzhen Stock Exchange GEM (300269, SZ), and rushed to buy 2,200,900 shares. In the third quarter of 2013, the top ten shareholders and the top ten shareholders of the top ten shareholders.
Immediately, Lianjian Optoelectronics suspended trading on October 14, 2013 due to restructuring matters.
According to the public information, Shen Wei, the representative of the listed company and the former executive general manager of the Oriental Securities Investment Bank, left the company on August 31, 2013 before the sensitive time of the letter. According to the reporter's investigation, Shen Wei is also the sponsor representative of Feng Chengtian's family business and Shenzhen Chengtian Weiye Technology Co., Ltd., a listed company.
In the aforesaid relationship, Feng Chengyu, the father of Feng Chengtian and the chairman of Chengtian Weiye, confirmed the reporter. However, Feng Xueyu refused to explain Feng Chengtian’s surprise purchase of Lianjian Optoelectronics. Shen Wei also refused to accept the interview.
After the listing in October 2011, Lianjian Optoelectronics continued to fall, and the stock price was consolidating below 10 yuan. The market value was only several hundred million yuan. It was only two months before the reorganization of the suspension, and it suddenly turned around and unilaterally rose. The last trading day closed at $17.23. After the resumption of trading on December 20th, it continued to triumph, rising to a maximum of 42.5 yuan.
Mysterious account
On October 14, 2013, Lianjian Optoelectronics announced that the company will disclose major restructuring matters and temporarily suspend trading on the same day. On December 20th, the company resumed trading and disclosed the major mergers and acquisitions that have been hailed as “classic†in recent years.
According to the restructuring plan, Lianjian Optoelectronics intends to acquire 100% of the shares of Timeshare Media held by 12 counterparties such as He Jilun in cash and issue shares, and raise matching funds. The acquisition target price is 860 million yuan.
Lianjian Optoelectronics has a high self-evaluation of this asset restructuring. The announcement stated that through this transaction, the company's outdoor advertising service capabilities will be greatly enhanced, thus enabling the original LED manufacturing and advertising operations business chain to be further improved. This transaction is an important step for listed companies to enter the downstream outdoor media industry. If this transaction is implemented, the company's main business structure will be shifted from LED manufacturing to LED manufacturing and outdoor media operations. The industrial structure extends from the secondary industry to the tertiary industry.
The parties to the market also praised the restructuring. During the interview, the reporter repeatedly heard the evaluation of “textbook-style reorganization†and “paradigm reorganizationâ€.
The fund manager of a large fund company in Beijing said that the restructuring of Lianjian Optoelectronics was “a smashing into a magical merger†because the company was originally an electronic company with a price-to-earnings ratio of only 10 times, and the stock price was half dead, but this time. Mergers and acquisitions have opened up the upstream and downstream, resulting in synergies, both upstream and downstream can make money, selling advertising and selling LED screens to make money, and the advertising industry's valuation is relatively high, generally can give more than 30 times the price-earnings ratio" Therefore, the company's share price immediately started the process of value revaluation after the reorganization. "It has risen very sharply and is a bit more than expected."
An investment banker in Shenzhen who had contact with Lianjian Optoelectronics told reporters that when he first saw the reorganization announcement, the first reaction was that "this stock will cost 50 yuan."
Under the prestige of the exchange, the restructuring plan of Lianjian Optoelectronics has also quickly obtained the “conditional adoption†of the regulatory authorities.
On March 5, 2014, Lianjian Optoelectronics was suspended again due to the reorganization. It only waited for 5 trading days. On March 12, the Securities and Futures Commission listed company merger and acquisition review committee announced the results of the audit, Lianjian Optoelectronics mergers and acquisitions The matter was “conditionally passedâ€. The specific opinion is “Request the applicant to further improve and supplement the specific arrangement of the target company's excess profit incentive measures and the impact of the arrangement on the listed company. Please consult the independent financial adviser and issue a clear opinionâ€, request that Lianjian Optoelectronics implement it item by item. And submit the relevant supplementary materials and revised reports to the listed company for supervision within 10 working days."
The high-profile restructuring and high share price of Lianjian Optoelectronics has buried a major suspicion that has been ignored by the outside world, namely the emergence of the mysterious account “Feng Chengtianâ€.
According to the investigation by the reporter, Feng Chengtian only opened the trading authority of the GEM stocks in July 2013. After obtaining the trading rights of the GEM stocks, he immediately opened a warehouse to build the company. "Coincidentally" is that Lianjian Optoelectronics has just started to increase its volume from the 31st of the month. After nearly two years of yin decline, it has opened a "four-fold trip" with a daily limit without any warning.
From the daily limit calculation on July 31, as of the last trading day before the suspension, on October 11, the stock price started from 8.62 yuan, closing at 17.23 yuan. There were 46 trading days in total, with a total turnover of 1.93 billion yuan. The weighted average price was 12.7 yuan.
From the opening date of Feng Chengtian to the third quarterly report, Feng Chengtian mainly bought 2,200,900 shares in August and September. Feng's cost of opening a warehouse is estimated to be more than 20 million yuan. If you hold the suspension until October 14th, you can make a profit of about 10 million yuan. If it is held so far, its maximum floating profit can reach more than 60 million yuan.
The same sponsor of both companies
Shen Wei is the sponsor representative of Lianjian Optoelectronics when it went public in 2011. After the company went public, it continued to be responsible for continuous supervision work. It has been working until August 31, 2013. Lianjian Optoelectronics Announced Shen Wei from Oriental Citigroup (by Oriental Securities and Citigroup) Global Finance merged in June 2012.) Resigned, no longer served as the company sponsor representative and no longer responsible for the company's continuous supervision.
After the announcement, the sponsor representatives of Lianjian Optoelectronics were Meng Hao and Hu Liubin. The company also made changes in the announcement and F10 materials.
Shen Wei from the Eastern Citigroup resigned and no longer responsible for the joint construction of optoelectronics work, to the Changyuan Group (10.11, 0.12, 1.20%) (600525, SH) short-term work. Lhasa Mayor Yingjia Investment Co., Ltd., a wholly-owned subsidiary of Changyuan Group, is the fifth largest shareholder announced by Lianjian Optoelectronics in its 2013 third quarterly report.
According to a survey by the reporter, Shen Wei went to work in Changyuan Group in October 2013, but soon left the Changyuan Group in February 2014 and returned to Lianjian Optoelectronics – but Lianjian Optoelectronics did not announce this time. Instead, he quietly re-recorded Shen Wei’s name into the “Sponsor Representative†column.
The time period when Shen Wei left Lianjian Optoelectronics and served as Changyuan Group was the sensitive period for Lianjian Optoelectronics to disclose the restructuring plan.
According to people close to Cheng Tian Weiye and Shen Wei, following Shen Wei’s short-term appointment to the Changyuan Group, Feng Chengtian’s husband, Song Moumou. The relationship between Shen Wei and the Feng family is not only that.
Feng Chengtian, father of Cheng Chengwei, and Feng Xueyu, chairman of Chengtian Weiye, confirmed to reporters that Shen Wei, the sponsor representative of Lianjian Optoelectronics, is also the project leader and sponsor representative of Chengtian Weiye's listed projects.
In November 2011, Orient Securities issued a “due diligence report on Shenzhen Chengtian Weiye Technology Co., Ltd.â€.
Oriental Investment Bank Shenzhen Investment Banking Department A member of the investment banking department who participated in Chengtian Weiye's due diligence investigation also confirmed to reporters that Shen Wei is the person in charge of Chengtian Weiye's listing project, and Chengtian Weiye is a project. “It can also be considered to some extent. It’s Shen Wei’s business for the company.â€
Shen Wei had led a team to conduct due diligence for Cheng Tian Weiye two or three years ago, and continued to provide listing sponsorship services, and had direct work with Feng Chengtian. Feng Chengtian ranked first among the shareholders of Chengtian Weiye Industrial and Commercial Materials, directly holding 4.8% of the company's shares, which is higher than his father's share of 4.68%. At the same time, the father and the daughter passed the investment of Shenzhen Chengtian Shengye. The company, through the company, holds a 55% stake in Chengtian Weiye.
Silently
On March 18, 2014, in the conference room of Shenzhen Chengtian Weiye, regarding the relationship between Shen Wei and Cheng Tian Weiye, Feng Chengtian and Feng Xueyu’s father-daughter relationship, the reporters were all recognized by Feng Xueyu’s personally, and he also confirmed “purchase joint constructionâ€. Feng Chengtian of the photoelectric stock is his daughter Feng Chengtian.
However, when asked Feng Chengtian to suddenly build a warehouse to build a photoelectric, Feng Xueyu interrupted the topic.
On the same day, the reporter encountered an interview barrier at the Lianjian Optoelectronics Office Building in the Antongda Industrial Plant in Baoan District, Shenzhen. After talking about the identity of the reporter and the reasons for the interview, Lian Jianying, the secretary of the Board of Directors of Lianjian Optoelectronics, said that he was "in the city, and is not in the factory, and is temporarily unable to accept the interview."
On March 25, the reporter continued to send an interview letter to Liu Hujun, the chairman of Lianjian Optoelectronics, Shen Wei, the sponsor representative, and Zhong Juying, the secretary of the Board of Directors. At the time of writing, there was no reply.
The reporter also called Shen Wei, who directly said on the phone that he refused to accept the interview.
On March 19th, the reporter reflected the investigation information to the Management Department of the Shenzhen Stock Exchange and the Shenzhen Stock Exchange Office and requested an interview. However, as of press time, no reply has been received.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
Immediately, Lianjian Optoelectronics suspended trading on October 14, 2013 due to restructuring matters.
According to the public information, Shen Wei, the representative of the listed company and the former executive general manager of the Oriental Securities Investment Bank, left the company on August 31, 2013 before the sensitive time of the letter. According to the reporter's investigation, Shen Wei is also the sponsor representative of Feng Chengtian's family business and Shenzhen Chengtian Weiye Technology Co., Ltd., a listed company.
In the aforesaid relationship, Feng Chengyu, the father of Feng Chengtian and the chairman of Chengtian Weiye, confirmed the reporter. However, Feng Xueyu refused to explain Feng Chengtian’s surprise purchase of Lianjian Optoelectronics. Shen Wei also refused to accept the interview.
After the listing in October 2011, Lianjian Optoelectronics continued to fall, and the stock price was consolidating below 10 yuan. The market value was only several hundred million yuan. It was only two months before the reorganization of the suspension, and it suddenly turned around and unilaterally rose. The last trading day closed at $17.23. After the resumption of trading on December 20th, it continued to triumph, rising to a maximum of 42.5 yuan.
Mysterious account
On October 14, 2013, Lianjian Optoelectronics announced that the company will disclose major restructuring matters and temporarily suspend trading on the same day. On December 20th, the company resumed trading and disclosed the major mergers and acquisitions that have been hailed as “classic†in recent years.
According to the restructuring plan, Lianjian Optoelectronics intends to acquire 100% of the shares of Timeshare Media held by 12 counterparties such as He Jilun in cash and issue shares, and raise matching funds. The acquisition target price is 860 million yuan.
Lianjian Optoelectronics has a high self-evaluation of this asset restructuring. The announcement stated that through this transaction, the company's outdoor advertising service capabilities will be greatly enhanced, thus enabling the original LED manufacturing and advertising operations business chain to be further improved. This transaction is an important step for listed companies to enter the downstream outdoor media industry. If this transaction is implemented, the company's main business structure will be shifted from LED manufacturing to LED manufacturing and outdoor media operations. The industrial structure extends from the secondary industry to the tertiary industry.
The parties to the market also praised the restructuring. During the interview, the reporter repeatedly heard the evaluation of “textbook-style reorganization†and “paradigm reorganizationâ€.
The fund manager of a large fund company in Beijing said that the restructuring of Lianjian Optoelectronics was “a smashing into a magical merger†because the company was originally an electronic company with a price-to-earnings ratio of only 10 times, and the stock price was half dead, but this time. Mergers and acquisitions have opened up the upstream and downstream, resulting in synergies, both upstream and downstream can make money, selling advertising and selling LED screens to make money, and the advertising industry's valuation is relatively high, generally can give more than 30 times the price-earnings ratio" Therefore, the company's share price immediately started the process of value revaluation after the reorganization. "It has risen very sharply and is a bit more than expected."
An investment banker in Shenzhen who had contact with Lianjian Optoelectronics told reporters that when he first saw the reorganization announcement, the first reaction was that "this stock will cost 50 yuan."
Under the prestige of the exchange, the restructuring plan of Lianjian Optoelectronics has also quickly obtained the “conditional adoption†of the regulatory authorities.
On March 5, 2014, Lianjian Optoelectronics was suspended again due to the reorganization. It only waited for 5 trading days. On March 12, the Securities and Futures Commission listed company merger and acquisition review committee announced the results of the audit, Lianjian Optoelectronics mergers and acquisitions The matter was “conditionally passedâ€. The specific opinion is “Request the applicant to further improve and supplement the specific arrangement of the target company's excess profit incentive measures and the impact of the arrangement on the listed company. Please consult the independent financial adviser and issue a clear opinionâ€, request that Lianjian Optoelectronics implement it item by item. And submit the relevant supplementary materials and revised reports to the listed company for supervision within 10 working days."
The high-profile restructuring and high share price of Lianjian Optoelectronics has buried a major suspicion that has been ignored by the outside world, namely the emergence of the mysterious account “Feng Chengtianâ€.
According to the investigation by the reporter, Feng Chengtian only opened the trading authority of the GEM stocks in July 2013. After obtaining the trading rights of the GEM stocks, he immediately opened a warehouse to build the company. "Coincidentally" is that Lianjian Optoelectronics has just started to increase its volume from the 31st of the month. After nearly two years of yin decline, it has opened a "four-fold trip" with a daily limit without any warning.
From the daily limit calculation on July 31, as of the last trading day before the suspension, on October 11, the stock price started from 8.62 yuan, closing at 17.23 yuan. There were 46 trading days in total, with a total turnover of 1.93 billion yuan. The weighted average price was 12.7 yuan.
From the opening date of Feng Chengtian to the third quarterly report, Feng Chengtian mainly bought 2,200,900 shares in August and September. Feng's cost of opening a warehouse is estimated to be more than 20 million yuan. If you hold the suspension until October 14th, you can make a profit of about 10 million yuan. If it is held so far, its maximum floating profit can reach more than 60 million yuan.
The same sponsor of both companies
Shen Wei is the sponsor representative of Lianjian Optoelectronics when it went public in 2011. After the company went public, it continued to be responsible for continuous supervision work. It has been working until August 31, 2013. Lianjian Optoelectronics Announced Shen Wei from Oriental Citigroup (by Oriental Securities and Citigroup) Global Finance merged in June 2012.) Resigned, no longer served as the company sponsor representative and no longer responsible for the company's continuous supervision.
After the announcement, the sponsor representatives of Lianjian Optoelectronics were Meng Hao and Hu Liubin. The company also made changes in the announcement and F10 materials.
Shen Wei from the Eastern Citigroup resigned and no longer responsible for the joint construction of optoelectronics work, to the Changyuan Group (10.11, 0.12, 1.20%) (600525, SH) short-term work. Lhasa Mayor Yingjia Investment Co., Ltd., a wholly-owned subsidiary of Changyuan Group, is the fifth largest shareholder announced by Lianjian Optoelectronics in its 2013 third quarterly report.
According to a survey by the reporter, Shen Wei went to work in Changyuan Group in October 2013, but soon left the Changyuan Group in February 2014 and returned to Lianjian Optoelectronics – but Lianjian Optoelectronics did not announce this time. Instead, he quietly re-recorded Shen Wei’s name into the “Sponsor Representative†column.
The time period when Shen Wei left Lianjian Optoelectronics and served as Changyuan Group was the sensitive period for Lianjian Optoelectronics to disclose the restructuring plan.
According to people close to Cheng Tian Weiye and Shen Wei, following Shen Wei’s short-term appointment to the Changyuan Group, Feng Chengtian’s husband, Song Moumou. The relationship between Shen Wei and the Feng family is not only that.
Feng Chengtian, father of Cheng Chengwei, and Feng Xueyu, chairman of Chengtian Weiye, confirmed to reporters that Shen Wei, the sponsor representative of Lianjian Optoelectronics, is also the project leader and sponsor representative of Chengtian Weiye's listed projects.
In November 2011, Orient Securities issued a “due diligence report on Shenzhen Chengtian Weiye Technology Co., Ltd.â€.
Oriental Investment Bank Shenzhen Investment Banking Department A member of the investment banking department who participated in Chengtian Weiye's due diligence investigation also confirmed to reporters that Shen Wei is the person in charge of Chengtian Weiye's listing project, and Chengtian Weiye is a project. “It can also be considered to some extent. It’s Shen Wei’s business for the company.â€
Shen Wei had led a team to conduct due diligence for Cheng Tian Weiye two or three years ago, and continued to provide listing sponsorship services, and had direct work with Feng Chengtian. Feng Chengtian ranked first among the shareholders of Chengtian Weiye Industrial and Commercial Materials, directly holding 4.8% of the company's shares, which is higher than his father's share of 4.68%. At the same time, the father and the daughter passed the investment of Shenzhen Chengtian Shengye. The company, through the company, holds a 55% stake in Chengtian Weiye.
Silently
On March 18, 2014, in the conference room of Shenzhen Chengtian Weiye, regarding the relationship between Shen Wei and Cheng Tian Weiye, Feng Chengtian and Feng Xueyu’s father-daughter relationship, the reporters were all recognized by Feng Xueyu’s personally, and he also confirmed “purchase joint constructionâ€. Feng Chengtian of the photoelectric stock is his daughter Feng Chengtian.
However, when asked Feng Chengtian to suddenly build a warehouse to build a photoelectric, Feng Xueyu interrupted the topic.
On the same day, the reporter encountered an interview barrier at the Lianjian Optoelectronics Office Building in the Antongda Industrial Plant in Baoan District, Shenzhen. After talking about the identity of the reporter and the reasons for the interview, Lian Jianying, the secretary of the Board of Directors of Lianjian Optoelectronics, said that he was "in the city, and is not in the factory, and is temporarily unable to accept the interview."
On March 25, the reporter continued to send an interview letter to Liu Hujun, the chairman of Lianjian Optoelectronics, Shen Wei, the sponsor representative, and Zhong Juying, the secretary of the Board of Directors. At the time of writing, there was no reply.
The reporter also called Shen Wei, who directly said on the phone that he refused to accept the interview.
On March 19th, the reporter reflected the investigation information to the Management Department of the Shenzhen Stock Exchange and the Shenzhen Stock Exchange Office and requested an interview. However, as of press time, no reply has been received.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
Radio Fence,E-Dog Fence,Wireless Invisible Fence,Above Ground Electric Dog Fence
Elite-tek Electronics Ltd , https://www.aetertek.ca