China Cinda, which has grown with Kailuan shares all the way, wants to open Luan shares again, but the amount involved is not much. Kailuan, a coal company in Hebei, is not outstanding in the market, with unstable performance and long-term stock price. However, it has attracted China Cinda, CITIC** and many public offerings and other funds to rush in. The secret that has caused a lot of money to come is its high dividend rate.
At a time when the share price of Kailuan shares hit a new high, China Cinda quickly threw out the first plan.
On January 6, Kailuan announced that China Cinda wanted 15.88 million shares, involving an amount of about 12.7 billion yuan. It should be noted that on January 5, Kailuan shares rushed to 825 yuan shares, a new high since May 2022.
Retrospectively, China Cinda is one of the original shareholders of Kailuan. The two intersected in 2001, and then through the conversion of provident fund to share capital and fixed increase, China Cinda's shareholding in the listed company was changed to 33.6 billion shares.
Judging from its history, although Kailuan shares have gone through China Cinda many times, the number of each time is not much. The reason why Kailuan shares have attracted China Cinda to follow for a long time may be high dividends.
The flush shows that the pre-tax dividend rate of Kailuan shares is 82%, and the dividend payout ratio is 4975%。Stretching the timeline, Kailuan shares, which were listed in 2004, have completed 17 dividends. Among them, China Cinda received a dividend of about 700 million yuan.
It is worth mentioning that China Cinda has been in the A-share market for many years, and has appeared among the top ten shareholders of 21 listed companies, with a market value of more than 25 billion yuan.
China Cinda intends to cash out 1200 million yuan
Under the popularity of coal stocks, China Cinda chose to "retrograde" and planned to open Luan shares.
On January 6, Kailuan announced that the company's shareholder China Cinda said that it would ** 15.88 million shares of the company through centralized bidding from January 29 to April 27 this year. If the ** price on January 8 is 802 yuan shares, China Cinda may cash out 12.7 billion yuan.
As for the reason for cashing out, China Cinda said that it was due to business needs. It is worth mentioning that in the intraday before the announcement of Kailuan shares, its share price just hit a new high since May 2022, 8$25 shares.
From this point of view, China Cinda is more interested in the bag.
As an important shareholder of Kailuan shares, China Cinda holds 33.6 billion shares, with a market value of about 2.7 billion yuan.
Judging from the origin of the two, China Cinda, as its original shareholder, spared no effort to provide financial support. According to the data, in 2001, Kailuan Group and six companies including China Cinda and China Huarong jointly established Kailuan shares.
After listing, China Cinda held 1015 shares of Kailuan shares60,000 shares. Thereafter, in the second quarter of 2006, **18170,000 shares fell to 996870,000 shares. Three years later, Kailuan shares provident fund converted to 10 shares for every 10 shares, and China Cinda's shares in the listed company increased to 1993740,000 shares. By the second quarter and third quarter of 2014, it was **140030,000 shares, 1577610,000 shares, bringing the number of shares held down to 276100,000 shares, and at the same time, it also withdrew from the top 10 outstanding shareholders in the fourth quarter of the same year.
At the end of the following year, Kailuan shares were set to increase by 1.9 billion yuan, and China Cinda fully subscribed to 5The unit price of 38 yuan shares was subscribed for 35.3 billion shares.
After that, China Cinda is also looking for opportunities to cash out. The coal industry in 2021 was relatively prosperous, and this sign was especially obvious from the third quarter of that year to September of the following year, when the entire coal sector **8938%, Kailuan shares also on September 13 share price hit a new high since 2012, 1065 yuan shares (before the right to reset). When the share price of Kailuan shares is growing by leaps and bounds, China Cinda is also waiting for the opportunity to throw out a plan to not exceed 2% of Kailuan shares. According to the data, from September 6, 2021 to September 7, 2022, China Cinda**171598.51 million shares.
Over 8% dividend rate
With more than 20 years of companionship, and the number of previous ** is not much, what is the attraction of Kailuan shares to China Cinda?
As an enterprise with coal mining as one of its main businesses, Kailuan's performance is susceptible to cyclical effects, so its performance has not been stable in recent years. In addition, even in the boom period of the industry, Kailuan shares have increased revenue but not profits.
The data shows that from 2020 to the third quarter of 2023, Kailuan's revenue will be 1817.7 billion yuan, 2316.6 billion yuan, 2600.4 billion yuan, 1704 billion yuan, year-on-year changes were. 25%、-13.20%；The net profit attributable to the parent company for the same period was 107.9 billion yuan, 192.6 billion yuan, 185.1 billion yuan, 99 billion yuan, year-on-year changes were. 60%、-3.90%、-45.62%。
While its performance is volatile, it is highly volatile in the secondary market.
It is reported that in 2004, the issue price of Kailuan shares was 7 yuan shares, and two years later in 2007, its share price went all the way down after reaching a historical high, and now its ** price is 811 yuan shares (31 yuan shares after resumption).
However, even though the secondary market is volatile, under the high dividend, Kailuan shares are still followed by many funds.
At the end of June 2023, 51** held the stock;As of the end of September 2023, there are 10** companies that have placed Kailuan shares in their top 10 heavy stocks;CITIC** also with 606580,000 new shares became the third largest circulating shareholder of Kailuan shares.
In addition, it has also attracted northbound funds to increase their positions. In the third quarter of last year, northbound funds, known as "smart money", increased their positions by 527210,000 shares.
Public offerings, brokers, northbound and other funds are rushing in, or Kailuan shares are extremely arrogant in dividends. Straight flush data shows that its pre-tax dividend ratio is 82%, and the dividend payout ratio is 4975%。In the 18 years from 2004 to 2022, 17 dividends have been paid. After its listing, it paid out a total of 472.7 billion yuan.
As Bo Lè, China Cinda has naturally benefited a lot. Roughly calculated, in the 17 dividends of Kailuan shares, China Cinda received a total of about 700 million yuan.
China Cinda holds an A** value of more than 25 billion
Kailuan is just one member of China Cinda's A-share territory. Choice data shows that up to now, China Cinda has appeared in the top ten shareholders of 21 listed companies.
Data**: choice
It can be seen that among the above-mentioned companies, there are many well-known enterprises in the market, such as Shanghai RAAS, which was previously favored by Haier Group, China Heavy Industry Co., Ltd., and China Power, which are under China Shipbuilding.
If the above-mentioned shares have not been ** so far, and according to the ** price of the listed company on January 9, the market value of China Cinda's holdings in A-shares is about 25.3 billion yuan. Among them, its positions with a market value of 1 billion yuan include Gansu Nenghua, Salt Lake Shares, China Dynamics, Kailuan Shares, China Nuclear Construction, Founder**, and China Heavy Industries.
However, China Cinda, which has been deeply involved in A-shares for many years, has recently had a number of ** plans, such as **Founder**, China Dynamics, and Shengxiang Biotechnology.
And ** these shares may be able to "subsidize" households. In the past two years, AMC has been returning to its main business, and its performance has been significantly affected by the "balance sheet reduction".
The data shows that from 2020 to the first half of 2023, its revenue will be 10038.7 billion yuan, 9773.1 billion yuan, 9773.1 billion yuan, 3429.8 billion yuan, a year-on-year change of 441%、-2.65%、-17.13%、-16.87%；Profit attributable to shareholders for the same period was 1215.8 billion yuan, 1103.5 billion yuan, 530.2 billion yuan, 354.8 billion yuan, a year-on-year change of 189%、-9.24%、-51.95%、-21.30%。
As for the decline in total revenue, China Cinda pointed out in its annual report that it was mainly due to the decrease in inventory sales revenue, changes in the fair value of non-performing debt assets and income from non-performing debt assets measured at amortized cost compared with the same period last year, partially offset by the increase in interest income.
Among the above revenues, inventory sales revenue accounted for 70 percent in the first half of 202239 billion yuan, down 697% to 2132.8 billion yuan. This part of the decline in revenue is due to the year-on-year decrease in the scale of projects delivered by Cinda Real Estate in the first half of last year, and the decline in real estate sales revenue.
It is worth mentioning that the decline in real estate sales revenue is accompanied by a decline in gross profit margin. According to its semi-annual report, its gross profit margin on real estate sales increased from 159% fell to 15. in the first half of 20230%。
AMCs, which are in the cycle of "shrinking their balance sheets", are gradually withdrawing some equity and returning to their main business.