After acquiring ST King Kong (300064.SZ) shares through two online public auctions, Xinghan Asset Management became its largest shareholder.
On the evening of December 7, the equity change report disclosed by ST King Kong showed that Shanghai Xinghan Asset Management Co., Ltd. (representing Xingyuan No. 8 Asset Management Plan, hereinafter referred to as "Xinghan Asset Management") bid to acquire Beijing Tianzheng Ocean Fund Management
The center (hereinafter referred to as "Tianzheng Ocean") holds 230 million restricted shares of ST King Kong, spending 968 million yuan.
At present, the transfer of bidding shares has been completed.
In addition to the ST King Kong equity acquired by Xinghan Asset Management in the previous auction, as of December 3, Xinghan Asset Management has become its largest shareholder, with a shareholding ratio of 26.7%.
It should be pointed out that the actual controller of Xinghan Asset Management is Huafu Securities.
Tianyancha shows that Huafu Securities holds 76% of the equity of Xingyin Fund Management Co., Ltd. (hereinafter referred to as "Xingyin Fund"). The controlling shareholder of Xinghan Asset Management is Xingyin Fund, which holds 100% of the equity of Xinghan Asset Management.
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In other words, Huafu Securities became the largest indirect shareholder of ST King Kong.
Earlier, a request letter was circulated about Huafu Securities imploring relevant parties to "support Yu Diamond (changed to ST Diamond on November 4) to resolve risks and avoid delisting", which aroused great concern in the market.
Ao Changjing, general manager of the office of Huafu Securities, exclusively responded to China Business News, saying that Huafu Securities has never issued any request letter for "Yu Diamond to avoid delisting."
"The day after this request letter was circulated, Huafu Securities reported the case to the Fuzhou local public security bureau. It is still unclear who wrote and distributed this 'request letter'." There is currently no update on the acceptance of the case.
Progress.
In recent years, the controlling shareholders and actual controllers of ST King Kong have frequently occupied company funds and provided illegal guarantees. The performance of listed companies has continued to decline and is on the verge of delisting.
In the first three quarters of this year, ST King Kong lost 500 million yuan in net profit and was involved in as many as 64 lawsuits.
So, why did Huafu Securities want to take over the deal at this time?
After the largest shareholder of ST King Kong officially changed hands and became the largest shareholder of ST King Kong, Xinghan Asset Management stated that it will exercise shareholder rights in accordance with the law and recommend qualified director candidates to the listed company. The shareholders meeting of the listed company will follow relevant laws and regulations
and company articles of association for director election.
According to the announcement, before the completion of this share auction, Tianzheng Ocean held 19.07% of ST King Kong’s equity and was its largest shareholder.
Due to the bankruptcy of Tianzheng Ocean, these shares were publicly auctioned on the Taobao judicial auction network platform.
On October 17, the shares in the auction were successfully bid by Xinghan Asset Management for 968 million yuan, with an average cost per share of 4.21 yuan.
In fact, it was "expected" that Xinghan Asset Management would "swallow" this part of ST King Kong's equity.
The company has previously announced: "Based on the need to resolve its own risks, the information disclosure obligor (Xinghan Asset Management) will participate in the judicial auction of 229,885,057 ST King Kong shares held by Tianzheng Ocean."
At the same time, the Alibaba auction platform showed that only one person signed up for this auction.
China Business News found out that in August this year, Xinghan Asset Management had acquired some shares of ST King Kong through auction.
On August 22, Beijing Sky Hongding Investment Center (hereinafter referred to as "Sky Hongding") went bankrupt and auctioned its shares. The 91.954023 shares of ST King Kong it held were purchased by Xinghan Asset Management for 200 million yuan.
At that time, Xinghan Asset Management became the fourth largest shareholder of the listed company, with a shareholding ratio of 7.63%.
Tianyancha shows that Xinghan Asset Management was established on February 16, 2015 and is 100% controlled by Xingyin Fund. The latter is held by Huafu Securities and Guomai Technology (002093.SZ) for 76% and 24% respectively.
The actual controller of Fujian Securities is the State-owned Assets Supervision and Administration Commission of Fujian Province.
According to the securities classification rating information released by the China Securities Regulatory Commission, the rating results of Huafu Securities in 2018, 2019 and 2020 are A, BBB and BB respectively.
However, the reason for the downgrade has not been disclosed so far.
Industrial Bank's equity pledge business "stepped on thunder". Why did Huafu Securities take over ST King Kong from Tianzheng Hongding and Tianzheng Sino-Ocean?
Judging from the source of shares, the ST King Kong shares held by Tianzheng Hongding and Tianzheng Ocean came from the private placement in 2016.
In 2016, Yu Diamond issued 527,356,321 new shares in a non-public offering at that time, priced at 8.7 yuan per share.
Among them, the actual controller Guo Liuxi spent 1 billion yuan to subscribe; Tianzheng Ocean and Sky Hongding spent 2 billion and 800 million yuan respectively to subscribe for about 230 million shares and 91.95 million shares, accounting for 19.07% and 7.63% of the company's total share capital.
The lock-in period of this fixed-increase investment is 36 months, and the listing and circulation time is November 7, 2019.
However, after the fixed-increase shares acquired by the two companies for 2.8 billion yuan were fully pledged, their market value shrank significantly and they were unable to pay the entrusted loan interest on time, and both companies eventually went bankrupt.