With such a huge increase in "Delong" stocks, if there is a so-called "banker" involved in the market rumor, its profit is quite amazing.
The early financing
was guaranteed by Xinjiang Delong and its parent company Urumqi Delong Real Estate, and its subsidiary Xinjiang Financial Leasing Co., Ltd. issued 1 million yuan of "special financial bonds".
According to the data, Xinjiang Financial Leasing Company played a very important role in the early financing of Delong Department. This company was established in February 1996 by 11 Xinjiang companies and institutions, including "Tunhe, Xinjiang" and "Delong, Xinjiang". "Xinjiang Delong" and "Xinjiang Tunhe" each contributed 7 million yuan, each accounting for 12.73% of the shares.
in October p>1996, "Xinjiang Delong" intervened in "Tunhe, Xinjiang" and became the third largest shareholder (holding 1.185%). Only four months after the listing of "Tunhe, Xinjiang", the interval is short, which seems to have been arranged long ago.
in April, 1997, six months after the intervention in Tunhe, Xinjiang, that is, two months before the intervention in Alloy Shares, Xinjiang Financial Leasing issued 1 million yuan of "special financial bonds" (with a term of three years and an annual interest rate of 11%).
the two companies that guarantee this "special financial bond" are both "Delong" companies.
one is Xinjiang Delong, the parent company of Xinjiang Financial Leasing. What it pledged was its 14,11,8 shares of "Tunhe, Xinjiang" (the shareholding ratio was 8.19%) as legal person shares and the dividends paid after the pledge registration date.
The other guarantee company is Urumqi Delong Real Estate Development Company, the parent company of Xinjiang Delong, which mortgaged some floors of its subordinate City Hotel.
This pledge was "omitted" in the 1998 interim report of Tunhe, Xinjiang. Since then, after the announcement on this mortgage issued by China Government Securities Depository and Clearing Co., Ltd., Tunhe, Xinjiang has also issued a "Correction Announcement".
the guarantee that the affiliated company has invested so much money, and the omission of the "Xinjiang Tunhe" newspaper, make the use of the 1 million yuan of funds obtained by "Xinjiang Financial Leasing" particularly eye-catching.
Two listed companies of Delong Department also revised their articles of association, and each company provided 2 million yuan loan guarantee for Shanghai Xingtehao. Most of the downward investment of Alloy Shares was completed around Shanghai Xingtehao, and Shanghai Xingtehao obtained 4 million yuan bank loan through the guarantee of two listed companies of Delong Department.
in order to clear the obstacles to guarantee Xingtehao, in April 1999, two listed companies of Delong Department passed a resolution at the same time, giving the board of directors the power to handle external guarantee matters. "Alloy Co., Ltd." held a general meeting of shareholders on April 6, and passed a resolution: "The general meeting of shareholders authorized the board of directors to make independent decisions and be responsible for the implementation of financial guarantees for direct or indirect holding companies of the joint-stock company in the future? quot; Also in April, Xiang Torch, another listed company controlled by Delong, also revised its articles of association, changing "the board of directors can exercise the decision-making power for projects with a capital of less than 4 million yuan" to "the board of directors is responsible for handling external guarantees and can exercise the decision-making power for projects with a net asset of less than 2% of the company".
On May 2th and 26th, the board of directors of Alloy Co., Ltd. and Xiang Torch respectively issued announcements, each providing 2 million yuan bank loan guarantee for Shanghai Xingtehao Company. If "Shanghai Xingtehao" fails to repay the loan on time, the two listed companies will pay all the loan principal and interest to the bank.
I have to point out that if Alloy Co., Ltd. provides loan guarantee for Shanghai Xingtehao because it is an affiliated enterprise of the company? quot; Then the guarantee behavior of "Xiang Torch" is irrelevant. Even if the profit prospect of "Shanghai Xingtehao" is good, it cannot be reflected in the interests of "Hunan Torch". Once "Shanghai Xingtehao" fails to repay the loan on time, the shareholders of "Xiang Torch" will have to bear huge debts for it. This guarantee has seriously damaged the interests of minority shareholders.
through the joint guarantee of "Alloy Stock" and "Xiang Torch", "Shanghai Xingtehao" obtained a loan of 4 million yuan. The whereabouts of this loan is of particular concern.
according to the announcement of "alloy stock", the total downward investment of "Shanghai Xingtehao" is about 175 million yuan. If we say that the above-mentioned 4 million yuan loans are all used for investment, then the whereabouts of the other 2 million yuan loans are a question mark-and these loans are all guaranteed by listed companies.
on the other hand, through a lot of dazzling investment actions such as "Shanghai Xingtehao", the announcements of "Alloy Shares" in 1999 kept emerging, and the "good news" in the stock market emerged one after another.
frequent investment, transfer and high share delivery have caused the stock price to soar
Xiang Torch has made frequent investments, and there are many related transactions
Since mid-1998, Xiang Torch under the control of Delong Department has started to make frequent investments. In two years, 11 investment actions were announced, involving 21 companies, including many related transactions.
the most typical example of related party transactions is that in April 2, Xiang Torch, Shanghai Aoshen Environmental High-tech Co., Ltd. (hereinafter referred to as "Shanghai Aoshen") and Zhongji Holdings jointly established Zhuzhou Xiang Torch Environmental Protection Technology Co., Ltd. Hunan Torch is invested in kind, such as factory buildings, and it is estimated to be 16 million yuan, of which 51 million yuan is invested as capital, accounting for 51% of the total share capital. The excess is assessed as the liability of the joint venture company to Hunan Torch.
apart from the relationship between "Zhongji Holdings" and Delong, what are the reasons for such generous capital contribution? quot; Shanghai Aoshen is also a member of Delong School. "Shanghai Aoshen" was incorporated in 1999, and its legal representative is Tang Wanping.
During the frequent investment of Xiang Torch, the share price of Xiang Torch is also rising.
in November, 1997, Xinjiang Delong took over the Hunan torch. Up to now, after three rights issues, one share has become 4.7 shares, and the share price has changed from 7.6 yuan/share in 1997 to 85 yuan/share on March 23, 21, which has increased by more than 1,1%, and has even increased by 3, since listing.
Magic trading, stimulating the stock price: "Beijing Tai Alloy" changed hands within one year, with a profit of 18 million yuan.
in 1997, after "Xinjiang Delong" entered the "alloy stock", it announced the 1997 allotment plan. At the ratio of 1: 3, the total share capital is 51.685 million shares, with 15.555 million shares allocated by * * at the price of 5 yuan per share, and * * * raised 77.52 million yuan.
according to the prospectus, the raised funds are mainly used for establishing "Beijing Tai Alloy Dynamic Film Complete Equipment Development Co., Ltd." with "Beijing Space Shuttle Entertainment Equipment Co., Ltd." (hereinafter referred to as "Beijing Tai Alloy") as a joint venture, with a total investment of 4 million yuan and "Alloy Shares" accounting for 8% of the shares. The payback period of the project investment is 1.87 years and the annual investment profit rate is 8%. According to the plan, the project should start to recover investment in early 2.
however, only one year later, in June, 1999, Alloy Co., Ltd. transferred 8% equity of Beijing Tai Alloy to Xinjiang Oriental Osman Cosmetics Co., Ltd. at a price of 5 million yuan. Before the investment is completed, it will make a profit of 18 million yuan. Such a good "business" shows that Delong is unusual for "alloy shares"? quot; Build capacity "(the transfer income accounts for 15% of the company's net profit in that year, and we noticed that Shenyang Hualun Certified Public Accountants, which audited the company, issued an unexplained audit opinion on the annual report of that year).
Alloy Co., Ltd. also made a series of other investments, which also played a role in promoting the stock price rise.
On June 6th, 1997, Xinjiang Delong became the owner of Alloy Shares. Up to now, after four rights issues, one share has become 6.2 shares, and the share price has changed from 12 yuan/share in 1997 to 186 yuan/share on March 2th, 21, with an increase of 15%.
The stock price of "Xinjiang Tunhe" started two years later, and it also started from frequent investment.
Since Xinjiang Financial Leasing issued 1 million yuan of special financial bonds in April 1997, it was not until 2 that the stock of "Xinjiang Tunhe" suddenly made another effort. In the blank time between? quot; Alloy shares "and" Xiang Torch "have soared.
In March p>2, Delong Department increased the holding proportion of Xinjiang Tunhe, and owned nearly 28% of the shares of Xinjiang Tunhe. Since then, after two years of silence, "Tunhe, Xinjiang" has started a series of frequent investments, just like the other two listed companies of Delong Department.
excluding several projects earmarked for the rights issue of "Xinjiang Tunhe" in 2 and "Tunhe Cement Company" funded by physical assets, "Xinjiang Tunhe" invested 7 million yuan in the past year. Such intensive investment is even more doubtful. Judging from the operating performance and annual report of Tunhe in Xinjiang, it is difficult to support such a huge investment.
Since Xinjiang Delong entered Xinjiang Tunhe, Xinjiang Tunhe has gone through several rights issues, and the original share became 5.48 shares. After being reinstated, the share price per share reached 127 yuan on March 23, 21, with a cumulative increase of more than 1,1%.
The equity was transferred to the company controlled by natural person
It was transferred at a loss, and the "Beijing Head Office" faded out. The internal equity of Delong Department changed hands
Relevant information shows that from September 1999 to June 2, the interest of Delong Department in Alloy Shares occurred once among its upper-level affiliated companies in Beijing.
in September, 1999, "Beijing Head Office" transferred 18.1 million shares of "Alloy Shares" (accounting for 8.46% of the total share capital) to "Beijing Shenshida" at a transfer price of 1.48 yuan/share.
compared with the price of 3.11 yuan/share in 1997 when "Beijing Head Office" took over these shares, after two years of operation, "Beijing Head Office" not only failed to recover its capital, but also suffered a "loss" as high as 29.5 million yuan. At this time, the net asset value of "alloy shares" has greatly increased. Why did the "Beijing General Office" actually "lose money"?
after investigation, "Beijing Shenshida" is a company invested by a natural person and registered in January 1998. Wang Qi, who graduated from Tsinghua University for only one year, contributed 8 million yuan (accounting for 36.2% of the total share capital), while Bai Wei and Yang Yi each contributed 7 million yuan (accounting for 31.9% of the total share capital). Among them, Bai Wei attracted special attention. In October 1997, she was elected as the chairman (legal representative) of Beijing Wanxinda, the third largest shareholder of Alloy Shares.
in June, 2, the shareholding structure of Beijing wanxinda, the major shareholder of Alloy Co., Ltd., also changed. After the company increased its registered capital, the equity of Zhang Wanjun, a member of Delong Department, increased from 1% to 48%, becoming the largest shareholder; Another newly added individual shareholder, Yang Li, holds 46% of the shares. The original largest shareholder "Beijing Jiji" reduced its shareholding from 75% to 6%; Tang Wanchuan, the second largest shareholder who originally held 15%, withdrew from "Beijing Wanxinda".
In this way, the company directly controlled by the "Delong" natural person becomes the major shareholder of "Alloy Shares".
The original important role of Delong School-Beijing General Office has little interest in Alloy Shares. As a result, during our investigation, neither the Beijing Municipal Administration of Industry and Commerce nor the Chaoyang District Administration of Industry and Commerce in Beijing (the business license of "Beijing General Office" was stamped with the seal of the bureau) found any relevant information. It seems that the "Beijing General Office" has faded out of the "Delong School".