Another confusing operation occurred in the A-share market.
Recently, Ye Jinyou, a shareholder of Jiangnan High Fiber, issued a statement apologizing for buying and selling the company’s stocks that constituted short-term trading. Talking about the reasons for illegal transactions, Ye Jinyou said: He did not understand securities laws and trading rules.
Short-term trading due to lack of understanding of securities laws and trading rules
On the evening of February 24, Jiangnan High Fiber announced that the company received the “Explanation and Apology Statement Regarding My Stock Buying and Selling Constituting Short-term Transactions” issued by shareholder Ye Jinyou on the 24th. Because Ye Jinyou did not understand securities laws and trading rules, on January 26 After buying the company’s stocks from February 1 to February 15, he then bought and sold the stocks, constituting short-term trading.
Jiangnan High Fiber stated that Ye Jinyou bought a total of 16,739,640 shares of the company from January 27 to February 15, and sold 534,100 shares and 868,400 shares of the company’s shares on February 11 and 15 respectively. The above transactions violated relevant regulations and constituted short-term trading.
According to relevant regulations, Ye Jinyou’s income from this short-term transaction should be recovered by the company’s board of directors. The income from this transaction is 103,427.14 yuan. Ye Jinyou is willing to turn over the above transaction income to the company’s board of directors.
Ye Jinyou sincerely apologizes to the company and investors for this behavior, and at the same time promises not to buy or sell the company’s stocks within 6 months from the date of this announcement.
Investors are buzzing about this. Some investors said that even though more than 10 shareholders bought shares worth more than 38 million yuan, Jiangnan High-Fiber did not rise in price. Does this stock still have a future?
Some people think it is not easy to evaluate. “A big boss spent more than 200 million in cash to buy a stock. Do you think we can evaluate someone who can spend this amount of cash?”
Raising placards without trust
On the evening of February 23, Jiangnan High Fiber announced that when the company inquired about shareholder shareholdings on February 22, it was found that Ye Jinyou already held 109,801,601 shares of the company, accounting for 6.34% of the company’s total share capital.
Therefore, the company immediately notified Ye Jinyou and required him to fulfill his information disclosure obligations. On February 23, the company received the “Jiangsu Jiangnan High Fiber Co., Ltd. Simplified Equity Change Report (Ye Jinyou)” signed by Ye Jinyou.
The announcement disclosed that on January 25, Ye Jinyou increased his holdings of 6,343,100 shares in the company, accounting for 0.37% of the company’s total shares. After this equity change, Ye Jinyou holds 90,930,361 shares of the company, accounting for 5.25% of the company’s total shares, exceeding 5% of the company’s total shares for the first time.
From January 26 to February 17, Ye Jinyou continued to increase his holdings by 18,871,240 shares, accounting for 1.1% of the company’s total shares. As of the report disclosure date, Ye Jinyou held shares accounting for 6.34% of the company’s total share capital.
Why don’t you believe it? Jiangnan Gaofian said that because Ye Jinyou did not understand securities regulations and did not know his specific shareholding ratio, he did not know that his shareholding ratio exceeded 5% until he received a notice from the company on February 22, so he did not perform his obligation to disclose information on changes in equity in a timely manner. .
And then continued to buy stocks without disclosing any announcement on changes in equity, and at the same time reduced its holdings by 1,402,500 shares in February. Ye Jinyou reflected on his illegal stock trading behavior, deeply apologized for the negative impact it had brought to the company, and sincerely apologized to all investors.
Jiangnan High Fiber stated that it will organize the actual controllers, shareholders holding more than 5% of the shares, directors, supervisors, and senior managers to carefully study the “Several Provisions on the Reduction of Shareholdings by Shareholders, Directors, Supervisors, and Senior Management of Listed Companies” and other relevant laws, regulations, and norms sex documents.
Jiangnan High Fiber’s net profit dropped by more than 50% year-on-year last year. In recent years, it has been keen on financial management and has not participated in hedging.
It is understood that Jiangnan High Fiber is one of the polyester top and composite staple fiber manufacturers with the largest production scale and the most complete varieties in China. It was listed on the Shanghai Stock Exchange in November 2003.
Last month, Jiangnan High Fiber issued a pre-reduction announcement for 2021 annual performance. It is expected to achieve a net profit attributable to shareholders of the listed company of approximately 108.17 million yuan in 2021, a year-on-year decrease of approximately 53.51%.
Jiangnan High Fiber stated that there are two main reasons for the decline in performance: First, in 2020, the sales of composite short fiber products experienced a boom, and the sales volume and average sales price of composite short fiber products increased significantly year-on-year, resulting in a significant increase in operating performance last year. . Second, in 2021, affected by insufficient demand in the downstream market and intensified industry competition, the sales volume and average sales price of composite short fiber decreased year-on-year, and the increase in the price of its main raw materials led to a decrease in product gross profit.
It is worth noting that Jiangnan Gaoxian “loves” financial management.
The reporter inquired about Jiangnan High Fiber’s announcements in recent years and found that at the end of 2017, Jiangnan High Fiber had been conducting cash management on idle raised funds and investing in related products. Announcements have been made frequently in the past three months.
In recent years, the company has not issued any announcement on hedging business.
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