Author |Deepwater Finance & Economics **
Dad's company exploded, and the stock price was cut in half;The son's company also suffered, falling twice in 3 days.
On December 17, Hywin Wealth, a U.S.-listed company under the "Haiyin System", officially announced that there was a cashing crisis.
Hywin Wealth is a third-party wealth management company, and the actual controller is Han Hongwei. Han Xiao, the actual controller of Rock Shares, Han Hongwei and Han Xiao are father and son.
The market generally suspects that the ** of Rock shares is related to the cashing crisis of Haiyin Holdings.
On the evening of December 18, Rock shares hurriedly issued an announcement to clear up the relationship and start the repurchase of the disk. However, in recent years, the scandalous rock shares still have a big hidden danger in themselves.
Following the "thunder" of the planting system, recently, the third-party wealth management company Haiyin Wealth product redemption problem is also terrifying.
Recently, investors on multiple social platforms have broken the news that the payment of Haiyin Wealth's products has been delayed. On December 13, the share price of Hywin Wealth fell off a cliff**, closing down 4261%。
On December 14, Hywin Holdings issued an announcement, admitting that some products have redemption problems, and the asset managers of the above products are unable to reach a deferred redemption agreement with relevant customers, although the company is only acting as a distributor of these asset-backed products, but customers are now demanding the company to repay.
At noon on December 17, Hywin Fortune (HYWo) The official WeChat of Tongfu issued an announcement saying that at present, Hywin Wealth has set up a special team to actively coordinate with the relevant parties of the project to plan the disposal plan.
Hywin Wealth said in the announcement that at present, according to the latest regulatory policies and industry guidance, Hywin Wealth has taken the initiative to withdraw and sort out the existing business, and the relevant plan will be given to you before the end of the month, hoping that everyone will not believe the rumors or spread the rumors.
Since then, the stock price has continued to fall sharply, and as of December 15**, Hywin Fortune has fallen 153%。In the more than 2 years since its listing, the market value of Haiyin Wealth has fallen by almost 90%.
The daily chart of Hywin Wealth since its listing.
According to the official website of Hywin Wealth, in 2006, Hywin Wealth was established in Shanghai, and has set up more than 170 wealth centers in more than 80 cities in China, and has gradually deployed in Hong Kong, the United Kingdom and the United States, with more than 2,500 employees and more than 14 cumulative services60,000 high-net-worth individuals and institutions.
In March 2021, Hywin Holdings was listed on the U.S. stock market, becoming the second third-party wealth management company to be listed in the U.S. after Noah Wealth. In its previous prospectus, it was disclosed that based on the transaction volume in 2019, Hywin Wealth is "the largest provider of real estate fixed income products in China", and the products provided are invested in the real estate projects of large developers such as Evergrande and Sunac.
With the rupture of the capital chain of many domestic developers, Hywin Holdings is also gradually reducing its dependence on real estate products. However, it is still inconclusive whether the current crisis is related to Evergrande and Sunac.
The father's company had an accident and "collapsed" his son's company.
As of December 18, the A-share listed company Rock Shares (600696) fell twice in three trading days.
Rock shares recent stock price trend daily chart.
On the evening of the same day, Rock shares hurriedly issued an announcement to dissociate itself from Haiyin Holdings, and the company said that the share price of Haiyin Holdings, a related party, fluctuated greatly. Up to now, the company and Haiyin Holdings and its subsidiaries only have liquor sales business, and the transaction amount is 4880,000 yuan, in addition to the above business, the company has no other business dealings with Haiyin Holdings.
At the same time, in order to stabilize the stock price, Rock shares also plan to repurchase the company's shares with 60 million yuan and 100 million yuan, and the repurchase price does not exceed 3260 yuan shares, all used for employee stock ownership plans or equity incentives.
However, the rock shares are not as light as they say, and there are a lot of troubles here.
In July 2022, the company was investigated by the China Securities Regulatory Commission (CSRC) on suspicion of illegal information disclosureOn September 29 this year, the company and the actual controller Han Xiao were fined 2 million yuan and 3 million yuan respectively by the Shanghai Securities Regulatory Bureau for false records in the annual reports for four consecutive years.
In addition, Rock shares have also been exposed to large-scale external mining of base wine, pyramid scheme wine sales and other problems.
According to the data of the 2022 annual report of Rock Co., Ltd., the company will only have a liquor production capacity of 1,600 tons in 2022, but it has created 4,932The sales volume of 60 kiloliters is about 3,946 tons, that is, more than 2,000 tons of wine products are processed on an OEM basis throughout the year.
According to Jiemian News, Shanghai Guijiu has been attracting investment in major regions across the country, setting assessments for high salaries and high performance targets. (This) forced the salesman to 'brush his face', find his classmates, friends, owner groups, parent groups, community groups and other relationships to sell alcohol, and if he couldn't complete the task, he would be eliminated.
According to the 2022 annual report, the company had 865 employees at that time, and the number of dealers soared to 4,883. The dealer channel contributed 76.9 billion yuan in revenue, according to this calculation, an average dealer only contributes 15 percent of revenue throughout the year750,000 yuan.
There is another big hidden danger in the rock shares.
On December 5, 2019, Rock Co., Ltd. announced that it would change its name to "Shanghai Guijiu Co., Ltd. has fully entered the liquor industry;But now more than 4 years have passed, and the Shanghai Stock Exchange still has not approved the company's abbreviation to change to "Shanghai Guijiu";On May 18 this year, the company said at the performance briefing that it would continue to communicate and report with the Shanghai Stock Exchange on the change of the abbreviation.
This is related to the trademark dispute of Guizhou Guijiu Group, a subsidiary of Yanghe Co., Ltd. (002304). As the "Guizhou time-honored brand" in liquor, the "Guijiu" brand of Guizhou Guijiu has long been deeply rooted in the hearts of the people, while Shanghai Guijiu's use of "Guijiu" as the core brand name of the enterprise is easy to be confused with the real Guizhou Guijiu.
Although on June 19 this year, Guizhou Guijiu sued Shanghai Guijiu for alleged abnormal competition and did not win the lawsuit, but Shanghai Guijiu's wholly-owned subsidiary, Guijiu Liquor Industry, was also sentenced to stop the trademark infringement of Guizhou Guijiu and compensate Guizhou Guijiu 1.5 million yuanShanghai Guijiu is jointly and severally liable for 100,000 yuan for displaying the allegedly infringing goods** in the WeChat *** article and using the allegedly infringing logo.
Judging from the current verdict, the dispute over the surname "Gui" is a big hidden danger for Shanghai Guijiu after all.
According to the disclosure of the performance briefing of rock shares, Guizhou Guijiu sued the company in January and March this year on the same grounds with the Shanghai Pudong New Area CourtAccording to Shandong Business Daily, on September 19 and 20, the trademark dispute between Guizhou Guijiu and Shanghai Guijiu was filed for two consecutive days, and has been ** five times so far, but there is no public information to disclose the details of the trial.
(Exclusively released by Shenshui Finance and Economics, a global market capitalization research institution, **Please indicate the source for citation).