In the week of January 29 to February 2, the three major A-share stock indexes showed a wave of accelerated bottoming trend, and the Shanghai Composite Index fell below the 2,700-point integer mark intraday on February 2. With the decline of the three major stock indexes, ** also declined, and the controlling shareholders of A-share full pledge became the focus of market attention. According to the statistics of Flush iFinD, as of February 4, a total of 40 controlling shareholders of A-shares, including Ningke Biotechnology (600165), Elion Clean Energy and Jiayu Shares, have pledged 100% of their shares, and are in a full pledge state.
The controlling shareholders of the full pledge.
According to the statistics of Flush iFinD, as of February 4, a total of 40 controlling shareholders of A shares are in a full pledge state.
According to statistics, the controlling shareholder's full pledge includes 40 shares, including Ningke Biotechnology, Elion Clean Energy, Fushun Special Steel, Antai Group, ST Peng Dr., ST Kao, ST Shentian, Palin Biotechnology, and Zhongrun Resources.
Taking Ningke Biotech as an example, as of the end of the first three quarters of 2023, the company's controlling shareholder is Shanghai Zhongneng Enterprise Development (Group)**, holding 200 million shares of the company, with a shareholding ratio of 292%, and the number of pledged shares is 200 million shares, accounting for 100% of its shares.
Since September 30, 2023, Ningke Biotech has not disclosed the announcement on the release of the pledge by the controlling shareholder.
The controlling shareholder of ST Kao is Kao International Construction Group, hereinafter referred to as "Kao International"), which holds 12.9 billion shares, with a shareholding ratio of 368%, as of September 30, 2023, Kao International pledged 12.9 billion shares, accounting for 100% of its shares.
Zhang Xuefeng, a financial commentator, told a reporter from Beijing Business Daily that there is a certain market risk in the full pledge of controlling shareholders. When the volatility is large, the market value of the pledged may shrink significantly, resulting in the controlling shareholder needing additional collateral or facing forced liquidation. Secondly, the pledge risk also involves the level of corporate governance, and the controlling shareholder raises funds through full pledge, which may affect the company's independence and decision-making power on the one hand, and may also lead to potential conflicts of interest on the other hand. If the value is pledged, the controlling shareholder may face financial pressure, affecting its role and responsibilities in the company.
Pan Xiangdong, chief economist of Qirhenium Research Institute, also said that generally speaking, the more shares pledged, the less pledge can be supplemented in the later stage when facing the first pledge warning, and the greater the risk of liquidation. The high proportion of pledges by controlling shareholders is prone to the risk of liquidation, which can easily affect the listed company, and directly affect the stability of the company's production, operation and control.
In addition, according to the statistics of Flush iFind, there are also many ** controlling shareholders in a state of almost full pledge, such as smart agriculture, Selen New Materials, Rifa Precision Machinery, Aikang Technology, Letong shares and other 17 controlling shareholders pledge ratio of 99Between 9% and 100%.
Jiayu shares fell the most during the week.
According to statistics, among the 40 controlling shareholders who pledged their full positions, in addition to ST Shihua, 39 shares appeared to varying degrees from January 29 to February 2.
Among them, Jiayu shares fell the most during the week, according to statistics, in the five trading days from January 29 to February 2, the company's cumulative decline reached 4208%, as of February 2**, the company's share price was 15 yuan shares, the lowest intraday touched 143 yuan shares, the latest total market capitalization is 107.5 billion yuan.
It is understood that the main business of Jiayu Co., Ltd. includes new energy business and energy-saving doors, windows and curtain wall business, and in the first half of 2023, the company's new energy business revenue will be 63.9 billion yuan, contributing more than ninety percent of revenue. In response to the company's secondary market-related issues, a reporter from Beijing Business Daily called the office of the secretary of the board of directors of Jiayu Co., Ltd. for an interview, but no one answered.
followed by Ningke Biological, the company fell by 28 in the five trading days from January 29 to February 257%；There are also 13 stocks such as Huahong Technology, Ruyi Group, and Kexin Development, which have fallen by more than two percent; Huaxi shares, ST Dr. Peng, ST Xuefa, *ST Quanzhu and other 20 shares have fallen between 10% and 20%; The remaining 4 shares of Palin Biological, Shenwu Energy Conservation and Yuanxing Energy have fallen between 0% and 10%.
From January 29 to February 2, the cumulative decline in the Shanghai Composite Index was 619%。According to statistics, in this range, among the above 39 stocks, the smallest cumulative decline is Yuanxing Energy, with a cumulative decline of 707%, which also means that the above 39 shares have underperformed**.
Yang Delong, chief economist of Qianhai Open Source, said on February 4 that now the market is accelerating to the bottom, and the decline in small and medium-sized enterprises is relatively large, so investors lack confidence. The market needs external guidance to be able to end this downward trend ahead of schedule. If you rely on the market's own forces to reverse, it may take longer and there may be a larger increase**. The direction of the policy is also very clear, and the follow-up may further increase the policies that are good for the economy and the best policies. It is also possible that the national team will step up its efforts and thus turn the trend of the market**. Yang Delong said.
More than seventy percent of the ** performance is under pressure.
Judging from the performance of the above 40 shares, 29 shares will be under pressure in the first three quarters of 2023, accounting for 72 of the 40 shares5%。
Judging from the performance of the first three quarters of 2023, among the 40 shares, 19 shares, including Antai Group, *ST Meishang, and Ningke Biotechnology, are in a state of loss, among which Antai Group has the highest net profit loss.
Financial data shows that in the first three quarters of 2023, Antai Group achieved an attributable net profit of about -4$3.7 billion; There are also 7 shares with losses of more than 100 million yuan, including *ST Meishang, Ningke Biotechnology, Huahong Technology, Rendong Holdings, and Jiayu Shares, and the remaining 11 shares have losses of less than 100 million yuan.
Excluding losses**, 21 of the 40 shares are profitable in the first three quarters of 2023, but 10 of them have a year-on-year decline in net profit, including Yuanxing Energy, Elion Clean Energy, Jingyi Shares, etc.
According to statistics, Elion Clean Energy's net profit in the first three quarters of 2023 declined the most, and the company's attributable net profit during the reporting period was about 63.37 million yuan, a year-on-year decrease of 9197%。It is understood that Elion Clean Energy's industry is classified as chemical raw materials and chemical products manufacturing industry.
On January 30, Elion Clean Energy disclosed the 2023 performance forecast, showing that the company expects to achieve an attributable net profit of about 36.45 million to 52.86 million yuan during the reporting period, a decrease of 69436 compared with the same period last year (statutory disclosure data).870,000—67,795870,000 yuan, a year-on-year decrease of 9501%—92.77%。
Xu Xiaoheng, an investment and financing expert, said that from a legal point of view, the pledge of major shareholders does not fully belong to major shareholders, especially some companies with sluggish operating conditions, which will inevitably cause investors to worry about the overall operation of the company.
Beijing Business Daily reporter Ma Changchang.