Under the continuous intervention of the regulatory authorities, the hype of the Metaverse concept stalled, and a large amount of funds began to flee.
On November 9, the "suspected" Metaverse concept stock Yishang showed heavy volume and fell to the limit. Previously, the stock had hit the daily limit for 4 consecutive trading days.
On the evening of November 9, Yishang Display received a letter of concern from the Shenzhen Stock Exchange. Regarding the recent rise in the company's stock price, the letter of concern directly asked: Are you taking advantage of the hot spots in the Metaverse?
Image source: Wind
The stock price fell to the limit and a large amount of funds fled
On November 9, Yishang showed a change from the previous trend, falling about 4% at the opening, and then fluctuated lower, with weak performance throughout the day, closing at 23.48 yuan per share, a drop of 10 %, the turnover rate was 36.56%, and the transaction volume throughout the day was 1.136 billion yuan. As of the close, there were still 1,752 sell orders on the lower limit board.
Because the turnover rate exceeded 20% and the deviation value of the increase and decrease reached 7%, Yishang Display once again appeared on the dragon and tiger list. Data from the Dragon and Tiger List show that after the sustained surge, a large amount of funds began to scramble to flee. The top 5 seats bought a total of 48.0348 million yuan that day, while the top 5 seats sold a total of 88.1585 million yuan, with a net sales amount of 40.1237 million yuan. It is worth noting that the sell 1, 2, and 3 seats listed on the list on November 9 are all the buy 1, 2, and 3 seats listed on the previous trading day, and there are obvious signs of capital flight.
Stimulated by the concept of the metaverse, Yishang has shown continuous strong daily limits in the past four trading days. During this period, bad news came out that part of the company's controlling shareholder's equity was judicially frozen, but even so, the price limit did not stop.
Picture source: Wind
Does it follow the concept of the metaverse?
Recently, the hype of the Metaverse has attracted close attention from regulators, and the exchange has issued multiple letters of inquiry urgently, pointing to issues such as the hype of the Metaverse concept.
In response to the company’s previous announcement of borrowing 50 million yuan to increase investment in the Metaverse industry, on the evening of November 9, the Shenzhen Stock Exchange issued an inquiry letter requesting a detailed description of the company’s existing business based on the company’s existing main business. The relevance to the Yuanverse industry, the current status of related businesses, revenue and profit ratio, whether the company has the necessary talents, technology and business reserves to carry out related businesses, and whether it can form a stable business model.
At the same time, the Shenzhen Stock Exchange also requires that the company’s current monetary fund balance, financing credit line in the bank and specific future investment plans be explained to explain the specific time when the second largest shareholder Lin Qingde intends to provide loans to the company, and fully demonstrate that the company’s loan to Lin Qingde The specific reasons and necessity of financing, whether the company has "increased the company's investment in the Yuanverse industry" by disclosing "hot spots", and whether the relevant information disclosure behavior is prudent, and whether there is any situation that misleads investors.
reporters found out that the news about the Metaverse that attracted the attention of regulators originated from an announcement made by the company on the evening of November 5. The company stated in the announcement that in order to support the company's business development needs, the company's second largest shareholder Lin Qingde plans to provide the company with a loan of no more than 50 million yuan to supplement the company's working capital, expand the company's production and operation development, and increase its support for the yuan. Investment in the space industry. It was this news that once again aroused strong market attention, and the company's stock price soared.
Picture source: Shenzhen Stock Exchange website
The stock price trend is out of performance
Data show that Yishang Display is a national high-tech enterprise with cultural creative design and three-dimensional digital technology as its core. It is one of the earliest domestically dedicated to 3D, AR, VR, A listed company that independently develops and commercializes holographic technology.
In addition, the company stated in this year's semi-annual report that the company has made large investments in research and development and promotion of emerging technologies such as 3D, AR, VR, holography, and AI, and will continue to invest in the update, promotion and application of related technologies. However, Whether it can generate higher operating income and profits in the future is highly uncertain. Although
's recent share price performance has been eye-catching, in comparison, the company's performance has disappointed investors. Data show that in the third quarter, the company achieved operating income of approximately 140 million yuan, a year-on-year decrease of 34.64%; net profit attributable to the parent company was -10.25 million yuan, a year-on-year decrease of 259.64%. In the first three quarters, the company achieved operating income of 609 million yuan, a year-on-year decrease of 1.43%; net profit attributable to the parent company was 20.08 million yuan, a year-on-year decrease of 22.26%.
Not only that, the company’s controlling shareholders and actual controllers may also change in the next step. On October 24, the company announced that controlling shareholder Liu Menglong was planning to transfer part of his equity to Lin Qingde. If the transaction is completed, it may lead to changes in the company's controlling shareholders and actual controllers.
Editor: Yawenhui
