"this time it's the floor." after five consecutive days of boom-and-bust, the sudden drop in electricity triggered a heat attack。
On 4 january, electricity fell; on 5 january, when the opening was suspended, it rebounded and, as at the time of receipt, $20. 45, fell by 9. 43 per cent. Prior to that, the market value of the company's stock had increased to $10,845 million, but the fall on 4 january alone had evaporated the market value of $1 billion。
After five consecutive days of boom and stoppage, on 3 january, the office issued a regulatory working letter to shinma on matters related to stock price volatility in the company, targeting listed companies, directors, supervisors and senior managers。
On the same night, in a reply to the surrendering office, shinma power stated that “to date, there have been no significant matters affecting the abnormal fluctuations in the prices of shares traded by listed companies; there have been no significant matters that should be disclosed but not disclosed, including, but not limited to, major asset reorganizations, equity issues, debt restructurings, business restructurings, asset stripping and asset injections”
On 4 january, the times ministry of electricity and securities was repeatedly called by the ministry of finance and finance, and the other party was not heard。
Five days in a row. Who's buying
According to wind data, equity prices rose by 61. 04 per cent within five days of successive power booms. On 4 january, the unit ran into a maximum of $25. 84 per unit, the highest price since 4 september 2020。
Source: wind
According to the data submitted, the cumulative deviation from the closing price increase in the three consecutive trading days was 30. 50 per cent between 27 december and 29 december 2023; on 2 january and 3 january 2024, the stock of the company continued to increase and on 2 consecutive trading days, the cumulative deviation from the closing price increase was 21. 23 per cent。
In accordance with the relevant provisions of the shanghai stock exchange rules of exchange, this “five-gauge” of electricity is a case of unusual fluctuations in stock transactions。
It is worth noting that the relevant business departments, such as côte d ' ivoire, gutai koon-ann, specialized institutions, financial security, specialized stock exchanges, eastern wealth, light securities, and chinese securities, have been the main purchasers of institutions during the unusual fluctuations in the electricity trade. In particular, on 27 december, when the first freeze was lifted, the seats reserved for the two bodies split between the first and the second。
Source: access to the internet
Stock exchanges are highly volatile
Times finance and business combs have found that the power of the gods has fluctuated in recent years. According to choice data, since 2019, the company has issued 33 bulletins on unusual fluctuations in stock transactions plus responses to letters of enquiry。
At the same time, in each of these bulletins, el niño stated that the current production operations were normal and that there had been no significant change in the company's internal or external operating environment; that the company had not found media reports or market hearsay that required clarification or response, nor had there been any corrections or additions to the information disclosed by the company in the prior period; and that it had found no other significant events that could have a significant impact on stock exchange prices, nor had it been discovered that the company's shareholders and their co-sponsors had bought and sold the company's shares。
In other words, stock price variation is normal for power. A member of the legal profession has told the economics of the times that “generally, stock prices are rising and falling, the exchange issues regulatory letters, which are clearer in their determination of the irregularities of listed companies than the letters of concern, indicating public warnings to them”
On 4 january, the vice-president of the chinese business capital union, pa wenxi, told the times that “regulated correspondence is a more stringent regulatory measure that is usually used to alert listed companies or their executives to the compliance of their actions with legal and regulatory requirements. If the listed company or its executive fails to comply, the regulatory body may issue a regulatory letter requiring it to correct the violation, fulfil its obligations or take other necessary measures. Regulatory letters usually require the listed company or its executive to respond within a certain period of time, indicating the measures taken and the results thereof.”
“the reasons for issuing regulatory letters against stock discrepancies may be multiple. On the one hand, regulators may consider that the variation in the share prices of listed companies reflects the company's problems, such as lack of transparency in information disclosure, irregularities, etc. By issuing a regulatory letter, the regulator may request the listed company to account for its stock price variation and to rectify its existence. On the other hand, regulators may wish to alert investors to risks by issuing regulatory letters, and require listed companies to enhance information disclosure and risk alerts.”berwinh added。
Uncertainty in future production operations
According to publicly available information, the company, which landed in 2019, was mainly engaged in the development, production and sale of products such as the composite insulation of electrical power transformers, the composite insulation of transmission and distribution lines and rubber seals, which are the head of rubber seals for domestic electrical equipment。
According to the shinma power press, the company holds 62. 46 per cent of the company's shares directly and is a controlling shareholder. Mabin holds 94. 67 per cent of the shares of the shanghai shinma power holdings ltd. Mabin and chen xiaoqin are husband-and-wife relationships, and they jointly hold 82. 05 per cent of the company's shares, directly and indirectly, and are the actual owners of the company。
In addition to the significant differences between the first restrictive equity incentive disclosed by the company on 16 december 2023 and the trigger and target values of the first employee equity plan, according to the power power bulletin of unusual volatility and risk alert for stock exchanges, the company may be affected in its future production operations by such factors as government macroregulation policies, capital market trends, domestic and foreign economic conditions and fluctuations in raw materials prices, and there is a greater risk that performance indicators will be met with greater uncertainty. Companies alert a large number of investors to the risks of secondary market transactions, rational decision-making and prudent investment。
At the same time, the latest rolling market share of shinma electricity was 81. 01 times higher, with valuation significantly above the average of companies listed in the same industry。
From the performance of the last five years, the power of the gods achieved a net profit of 127 million yuan, 131 million yuan, 101 million yuan and 49 million yuan from 2019 to 2022, respectively. In 2023, the profitability of the company was initially restored。
In the first three quarters of 2023, the total operating income from the power plant was $673 million, an increase of 22. 37 per cent over the same period, resulting in net profit of $96 million to the mother, an increase of 291. 7 per cent over the same period. In the third quarter of 2023, companies achieved an operating income of 257 million yuan, an increase of 44. 27 per cent over the same period, and a net profit of 45 million yuan for mothers, an increase of 842. 65 per cent over the same period。
On 11 august 2023, shinma power stated on the investor exchange interactive platform that “profits are expected to continue in the first half of the year 2023 and in the future, with a significant increase compared to 2022”
It is worth mentioning that the institutional study on the power of the gods is still in 2021, while the wind data show that “the company does not have a profit forecast for nearly 180 days”
(welcome to reproduce, please add a message, id:rafe0101)
- the guangdong times media group
