Recently, the share price of Rock Co., Ltd. of the 600696 is 2253 yuan shares, the stock price was rapid in the next few days, and even fell for two days, and the final stock price exceeded 20%. And the full name of this rock share is Shanghai Guijiu Co., Ltd. *** is a wine company. Why would a wine company be called Rock Shares, and this abbreviation has nothing to do with the full name?
Looking back on the past and present life of 600696, we can find that this company is a famous "name change king" on the a** field, changing its name many times, rubbing hot spots many times, and changing its main business many times.
600696 this company was listed on the Shanghai Stock Exchange in December 1993 and has been a veteran of A-shares for 30 years, but it has never "learned well".
In 1989, Haosheng (Fujian) Co., Ltd., a Sino-Taiwan joint venture, was founded, and its main business is architectural ceramics. On December 6, 1993, it was listed on the Shanghai Stock Exchange, referred to as Fujian Haosheng.
In November 2000, the actual controller of Fujian Haosheng was changed, and Zhongqiao Group and Jinjia became the indirect controlling shareholders of the company.
In August 2001, the company and Lijia Industrial (Fujian) Group implemented a major asset replacement. In November 2001, the company's name was changed to Lijia (Fujian) Co., Ltd. In December 2002, the company was registered and moved to Shanghai, and the company was renamed Lijia (Shanghai) Co., Ltd.
In July 2006, with the approval of the Ministry of Commerce, the name of the company was changed from Lijia (Shanghai) Co., Ltd. to Shanghai Duolun Industrial Co., Ltd., and the abbreviation was changed to Duolun Co., Ltd., and the actual controller was Chen Longji.
600696 the actual controller of Duolun shares has been changed from Chen Longji to Li Yonghong, Xian Yan and Yin Qun, and Duolun shares have become a capital operation platform.
In December 2011, Li Yonghong won 3600 million yuan to take over Duolun shares 1175% of the shares and became the actual controller of the company.
In May 2012, Xian Yan, a lawyer, took over as the new actual controller, and he took 3400 million yuan acquired Duolun Investment controlled by Li Yonghong, and indirectly held 11 shares of Duolun75% of the shares. Xian Yan, born in 1975, from Xiangyang City, Hubei Province, has a college degree, and was the head of Beijing Tianyi Law Firm. It is said that his lawyer has outstanding business and ability, and "has studied financial laws such as the Company Law and the * Law, and can often find flaws and loopholes in existing laws".
In November 2014, Yin Qun received the equity of Duolun Investment and indirectly held 5 shares of Duolun87% of the shares, the transfer price is 400 million yuan. However, the actual management rights and part of the equity of the company are still in the hands of Xian Yan.
In 2015, Internet finance P2P became popular. In the A** field, in May 2015, Duolun shares, controlled by Xian Yan, changed the name to Pi Lupi, and rubbed this P2P outlet, although the company had nothing to do with Internet finance P2P at that time, but it still gained six price limits, with a cumulative increase of 7737%。
600696 convex pi became famous because of the hype, which attracted the attention of Han Hongwei and Han Xiao of Haiyin Group. Because Han Hongwei was punished by the Securities Regulatory Commission and could not go out on his own, in December 2015, his son Han Xiao won a convex horse by controlling Wuniu**, Xian Yan resigned as chairman of Pi Convex Pi, and Han Xiao took over as chairman.
Since then, Xian Yan has used the capital obtained by speculation to control another A-share listed company, Huiqiu Technology, and in 2016, he threw out 1001 proposals that shocked the entire first-class ticket market, including "On the Company Establishing and Improving the Employee Love Approval System" and "The Proposal on the First Largest Shareholder Donating No Less Than 10 Billion Yuan in Cash to Listed Companies Every Year" and other strange content.
On March 30, 2017, the China Securities Regulatory Commission issued the most severe fine to Xian Yan:
Xianyan used the advantages of concentrated funds, shareholdings, and information to continuously buy and sell, traded between the ** accounts under his actual control, and made false declarations, etc., which affected the trading volume and trading volume of Duolun shares, and the illegal gains totaled 57.8 billion yuan. The confiscation of Xian Yan is illegal and a penalty of 289.2 billion yuan in fines, with a total of 34 fines and confiscations700 million yuan. He was given a warning and fined 600,000 yuan for his illegal information disclosure. Xianyan was banned from the market for life.
Around May 2019, Xian Yan **. It is alleged that when arresting Xian Yan, he showed his old character as a lawyer, used his legal knowledge to confront the law, and even applied for recusal on the grounds that there were pregnant women in the person concerned who made him uncomfortable.
In January 2021, the Shanghai High People's Court sentenced Xian Yan to 4 years and 3 months in prison and a fine of RMB 11.8 million. Around August 2021, Xian Yan was released from prison. At present, Xian Yan is still deeply involved in civil litigation.
Han Xiao, the new actual controller of Pi Lupi, was born in May 1989, a native of Yongcheng, Shangqiu, Henan Province, with a bachelor's degree. In 2011, Han Xiao, who had just graduated from university at the age of 22, served as the chairman of Wuquan Investment Management. He was only 26 years old when he won the convex horse in 2015, and Han Xiao will be 34 years old in 2023.
Han Xiao is a rich second generation, and he personally holds 30% of the shares of Wuniu**, and the remaining 70% is held by the company under the name of his father Han Hongwei.
Han Hongwei, born in February 1965, is a native of Yongcheng, Shangqiu, Henan Province. Han Hongwei once served as a soldier, and after retiring from the army, he worked in a state-owned enterprise, but soon gave up his job, raised 10,000 yuan, set up a steel business department, and also founded Yongcheng County Automobile Repair Factory, and later developed the auto repair plant to maintain the repair factory, and gradually entered the automobile ** and car rental, and later the business focus gradually shifted to Shanghai.
Han Hongwei took the lead in establishing the Shanghai Henan Chamber of Commerce in Shanghai and served as its president. An important business of Yushang Group, an important enterprise under its name, is "emergency financing consulting", with the mission of "alleviating personal financing difficulties".
After that, Han Hongwei founded Hywin Financial Holding Group, which is a well-known financial capital group in China. Controlled by Han Hongwei himself, his wife Wang Pei, his son Han Xiao, and his daughter Han Yu, Haiyin Group, Haiyin Assets, Haiyin Assets, Yushang Group, Wuniu and many other companies, involving private equity, wealth management, small loans, guarantees, mutual funds, etc., have built a huge financial territory. In 2022, Han Hongwei and Han Xiao father and son will rank 1050th in the "2022 Hengchang Burnt Fang Hurun Report" with a wealth of 6 billion.
Since 2013, Han Hongwei has been constantly raising cards for A-share listed companies, and the frequency is crazy, in 2013 and September 2015, respectively, 5% of the shares of Tianmu Pharmaceutical and New Huangpu. In 2015, there was a sensational acquisition dispute of Oriental Silver Star in the capital market, and Han Hongwei's Yushang Group and Haiyin Wealth failed to disclose the relevant information in accordance with the regulations in the process of buying and selling Oriental Silver Star, and used employee accounts to use the wealth management funds of Yushang Group to trade Oriental Silver Star, and made millions of yuan. Haiyin Fortune was fined nearly 5 million, and Han Hongwei was given a warning and fined 50,000 yuan, and was not allowed to acquire listed companies for three years.
Therefore, in 2015, the acquisition of a convex horse could only be made by his son Han Xiao. In the process of acquiring Pi Lu Pi, Han Xiao informed his friend "Niu San" Zhang Shaobo of the inside information in advance, and Zhang Shaobo used the inside information to speculate on Pi Lu Pi ** and made a profit of more than 25.85 million yuan.
According to an administrative penalty letter issued by the Shanghai Regulatory Bureau of the China Securities Regulatory Commission in April 2019:
Zhang Shaobo, born in April 1987, is a native of Shishi City, Fujian Province. Zhang Shaobo is two years older than Han Xiao. The two have a close relationship and are good friends.
In July 2015, Wuniu** made a lot of profits in trading Pi Boss** and held a lot of Pi Bump**. In August, Wuniu** proposed to acquire Pi Lu Pi, and the acquisition decision was formed in October. In December, five cattle ** entered the main horse convex horse. During this period, Zhang Shaobo communicated with Han Xiao very frequently, and controlled multiple accounts to sell after a large increase.
The Shanghai Supervision Bureau decided to confiscate Zhang Shaobo's illegal gains of more than 25.85 million yuan and impose a fine of 77.55 million yuan, with a total fine of 10.3 billion yuan.
Han Hongwei and Han Xiao of Haiyin Group are engaged in finance and are definitely interested in P2P. He took over P2P Internet finance. But P2P Internet finance is not easy to do, Han Xiao has been operating for two years and quickly lost money, in March 2017, the company was *ST, and in June 2018, it was changed to ST.
Previously, on August 24, 2017, the company's name was changed from Pi Lu Pi Financial Information Service (Shanghai) Co., Ltd. to Shanghai Rock Enterprise Development Co., Ltd. *** abbreviation changed to Rock Co., Ltd.
In 2018, P2P Internet finance was no longer available, and the company considered transformation. To be honest, the company has not gone far on this evil path, and it has not been lost.
In 2018, the market just set off a soy sauce wine craze, Moutai sauce and other mainstream brands are booming, and the sub-high-end soy sauce wine is rising, which is a critical period for soy sauce wine to enter the mainstream stage. Seeing the opportunity, Rock Co., Ltd. decisively abandoned Internet finance and entered the sauce wine track by mergers and acquisitions. On November 16, 2019, it was announced that the name of the company was changed from Shanghai Rock Enterprise Development Co., Ltd. to Shanghai Guijiu Co., Ltd
However, there was a conflict between the name of Shanghai Guijiu and Guizhou Guijiu Group, a subsidiary of Yanghe Liquor, and although the full name of the company was changed, the abbreviation could not be changed. Although Guizhou Guijiu is not very famous, it was founded in 1950, even earlier than Moutai Distillery. As a result, Guizhou Guijiu launched four lawsuits against Rock Co., Ltd. (Shanghai Guijiu) and related parties, with a total compensation amount of 35 million yuan, and one case is currently withdrawn, and the remaining three are still in litigation.
Shanghai Guijiu was originally an OEM business, and the liquor was actually brewed by Guizhou Gaojiang Liquor. At the end of 2020, the controlling shareholder donated 52% of the controlling stake of Gaojiang Liquor free of charge, and the company gradually opened up the whole industrial chain of liquor mining, production, supply, storage and sales.
Gaojiang Liquor is located in Lurongba Village Famous Liquor Industrial Park, Sanhe Town, Renhuai City, Zunyi City, Guizhou Province, not in Moutai Town, not even Moutai Town Liquor. According to the map navigation, Gaojiang Liquor is about 23 kilometers away from Moutai Distillery, which should not be counted as the core production area of soy sauce liquor.
Moreover, Gaojiang Liquor is a small distillery with a production capacity of 1,500 tons per year, and the production capacity can reach 4,500 tons per year after the completion of the ongoing expansion project, and Gaojiang Liquor also has its own brand. And the production capacity of Moutai is 560,000 tons per year, and the expansion project can reach more than 80,000 tons per year after completion. Even Guizhou Guijiu has an annual production capacity of nearly 10,000 tons.
Of course, after Rock Co., Ltd. switched to soy sauce wine, its performance improved significantly, and it successfully took off its hat in 2021.
Yan Keya, general manager of Rock Co., Ltd., once said in public that "Shanghai Guijiu is not a wine seller, but a brand management company."
It is said that the company's employees will receive the task of buying wine after joining the company, and its 53 degrees 500ml soy sauce wine is priced at 899 yuan bottle, but it does not sell well, and some employees complain that the company is a direct sales company.
In 2022, the total revenue of Rock Co., Ltd. will be 109.1 billion yuan, of which the revenue of strong fragrance, sauce fragrance and fruit wine was 5976 respectively70,000 yuan, 82.5 billion yuan, 20.1 billion yuan, but the net profit attributable to the parent company is only 3397850,000 yuan, which is very rare in wine companies.
According to statistics, there are currently 20 liquor companies in the A-share market. In the first three quarters of 2023, the revenues of Moutai, Wuliangye, Yanghe, Shanxi Fenjiu, Luzhou Laojiao, and Gujing Gongjiu will all exceed 10 billion, and Shunxin Agriculture (Niulanshan) and Jinshiyuan are also expected to exceed 10 billion yuan throughout the year. Rock shares (Shanghai Guijiu) is 135.4 billion, a significant increase from last year, ranking 17th. Golden Seed Liquor, Tianyoude Liquor, and Huangtai Liquor ranked last.
In addition to Zhang Shaobo's insider trading, Xianyan's Pi Lu Pi era also brought a number of civil lawsuits to 600696 Rock Shares. However, Han Xiao and the company did not respond properly and were placed on file for investigation in July 2022.
On September 28, 2023, Rock Co., Ltd. and its actual controller Han Xiao received the administrative penalty decision issued by the Shanghai Securities Regulatory Bureau
From 2017 to 2020, Shanghai Shangqu Industrial Co., Ltd. paid 1956 civil compensation for market misrepresentation infringement on behalf of Rock Shares930,000 yuan, 744500,000 yuan, 1531100,000 yuan, 770310,000 yuan. From 2018 to 2020, Shanghai Chuxing Property Management paid 9.85 million yuan, 5 million yuan, and 5.4 million yuan of legal service fees arising from the civil compensation case of ** market misrepresentation infringement on behalf of Rock Co., Ltd. respectively.
That is, the above compensation is not paid by Rock Shares, but by other companies of the Han family, with a total amount of up to 7027840,000 yuan. After a series of substitution expenses were accounted for, there were false records in the annual reports of Rock in 2017, 2018, 2019 and 2020.
Han Xiao, who was a director of the company at the time, failed to perform his duties faithfully and diligently in the four annual reports, and was the person in charge who was directly responsible.
The Shanghai Securities Regulatory Bureau decided:
Rock shares were ordered to make corrections, given a warning, and fined 2 million yuan. Han Xiao was given a warning and fined 3 million yuan. Among them, Han Xiao, as the directly responsible person in charge, was fined 1 million yuan, and as the actual controller, he was fined 2 million yuan.
The stock price of Rock Co., Ltd. in December 2023** is not a big problem in the company's own operation, but is affected by the delayed payment of Haiyin Wealth products, a wealth company under its affiliated company Haiyin Holdings.
In March 2021, Hywin Wealth Management*** was listed on NASDAQ and billed itself as "the third largest and fastest-growing third-party wealth management service provider in China". Its products are mainly invested in real estate companies, mainly for Evergrande, Sunac, Country Garden and other large real estate companies, after these large real estate companies fell into a crisis, Haiyin Wealth can not be left alone, it is said that the scale of the thunderstorm is at least tens of billions.
Although Haiyin Fortune seems to be the company of his father Han Hongwei, and Rock Shares is the company of his son Han Xiao, the previous experience of the Han family father and son is not very reassuring.
The price of the first rock shares moves frequently, and it claims that the relationship with Haiyin Wealth is to sell 50,000 yuan of wine, and it is also a **repurchase, and it is **pledge.
On December 22, 2023, Rock shares closed at 1779 yuan shares,**2.89% with a total market capitalization of 59500 million yuan.