text｜AI Finance and Economics Wu Yue
Edit｜Shi Jin
At around 10 pm on May 15, the live broadcast room of Weibo user " Ye Fei Private Equity Champion" attracted more than 430,000 people. In the live broadcast room, in addition to the anchor Ye Fei, there were two beauties sitting.
But more netizens came for Ye Fei’s “shock information”. This former private equity champion recently became a "popular" in the capital market because of the shady story of "market value management" of listed companies such as Zhongyuan Home Furnishing . He claimed that he planned to expose 18 listed companies to 40 media in 40 days. Now he answers strange calls every day with a lottery...
public opinion wave, a group of "Ye Fei concept stocks " fell to the limit on Monday. Some small and medium-sized listed companies encountered "voting with their feet" of funds. brokerage stocks , which once rose in volume on Friday, were also scared and "willed".
Industry insiders said that the A-share market may usher in an unprecedented rectification storm. Some lawyers said that once the charge of market manipulation is confirmed, all participants will bear legal responsibility for their actions, including the "broker" Ye Fei.
It has caused a "tornado" in the stock market
Last Sunday evening, CSRC responded to the storm. In response to recent media reports that relevant parties are suspected of conspiring to commit illegal acts, according to the exchange's verification, the CSRC decided to investigate the relevant accounts suspected of manipulating stock prices such as Litong Electronics , Zhongyuan Home Furnishing and other stock prices.
The China Securities Regulatory Commission has always had zero tolerance for illegal acts such as market manipulation. Ye Fei's "revelation" is obviously no longer a simple "melon-eating exercise". What he calls "market value management" is the specific operation of the actual controller or major shareholder of a listed company, inviting dealer to raise the stock price, and then attracting public funds and securities asset management to take over in the form of kickbacks and rebates. People who are in the game are called "market value management", but their essence has touched the high-voltage line that manipulates the securities market.
As of now, there are 11 listed companies named by Ye Fei. In addition to Zhongyuan Home Furnishing and Litong Electronics, Oriental Fashion, Weixinnuo , Haozhi Mechanical and Electrical, Longi Machinery , ST Huayu, Jinchuang Group , Frank , Xiangxin Technology, and *ST Zhongying are also among them.
In addition to listed companies, the "next" mentioned by Ye Fei includes Tianfeng Securities , Minsheng Securities , Hengtai Securities , and Shenwan Hongyuan , which belongs to the previous company Liu Peng. Among them, Guan Xuan, who was Ye Fei's next home, resigned from Hengtai Securities on March 29.
According to Ye Fei, in the process of finding a proxy for Zhongyuan Home Furnishing , Ye Fei contacted the takeover party Minsheng Securities and Tianfeng Securities through his next home. However, on the day of trading on March 31, Minsheng Securities bought 15.43 million yuan, and Tianfeng Securities "did not buy it after the stock price fluctuated by more than 5% because of strict risk control."
Among the top ten shareholders of Zhongyuan Home Furnishing at the end of the first quarter, Minsheng Securities, as a new shareholder, held 552,300 shares. According to the stock price on the day of the transaction, this data is basically consistent with Ye Fei's statement.
Minsheng Securities responded that Minsheng Asset Management did not participate in the market value management of Zhongyuan Home Furnishing . In the first quarter of this year, an investment manager of the proprietary department did buy Zhongyuan Home Furnishing shares within the investment authority, but the company will definitely not participate in the market value management of listed companies.
Tianfeng Securities responded that the company has never participated in Ye Fei's related behavior of maintaining market value management of Zhongyuan Home Furnishing . The self-operated and asset management departments have not had stock transaction records suspected of Zhongyuan Home Furnishing market value management in 2021. The self-media big V (referring to Ye Fei) said that it is false. "Ye Fei Concept Stock" hurt 800,000 shareholders
Although many listed companies have publicly denied Ye Fei's report, on May 17, the secondary market still staged a plot of "abandoning the small and buying the big".
Under the trend of institutions choosing blue chip and joining a group of white horses, small and medium-sized market-value companies are bound to face a more stringent "trial" in the market.
3 opened on May 17 , and "Yefei Concept Stocks" fell across the board. Among them, 6 stocks, Oriental Fashion, Longi Machinery, Jinchuang Group, Franket, Xiangxin Technology, and ST Huayu, closed at the limit down. Zhongyuan Home Furnishing once fell more than 7% at the opening and finally closed down 6.59%, with a stock price of 17.28 yuan per share, with a total market value of 1.382 billion yuan.
As early as the evening of the 16th, there was a news from the Internet that a securities firm received regulations and issued a notice requiring that from May 17, 2021, in addition to the market value requirement of more than 20 billion, the stock research opening targets will be attached with the conditions of more than 500 million in the average daily turnover of more than 20 billion yuan, and it was clear that "if a junk stock is found, the company will definitely transfer the relevant responsible persons to the judicial authorities." Although
is just a rumor, some securities firms said that this incident will inevitably be a warning to the industry, and (abandoning the small and buying the big) will also become a trend.
As of the close of May 17, 11 listed companies and 2 listed brokers had evaporated by more than 17 billion yuan compared with the previous trading day. As of the end of the first quarter of this year, the number of shareholders of 13 listed companies was close to 800,000.
As early as May 13, Shanghai Stock Exchange had already started to check the relevant accounts, and issued a "Supervision Work Letter" to Zhongyuan Home Furnishing in the afternoon of the same day, requiring the company to conduct self-inspection and truthfully disclose the relevant situation. It is reported that the dispatched agency has summoned the company and relevant parties and initiated verification procedures.
According to the latest news, the Anji County Public Security Bureau stated on May 17 that it had accepted the report of Zhongyuan Home Furnishing , but the cause of the case was not the rumored "slander".
Zero tolerance for vicious manipulation
Although investors are not unfamiliar with concepts such as "sitting to the market" and "pig killing market", after seeing the dark stories in the industry, some netizens were both angry and sighed: it is too difficult for retail investors to trade stocks.
On one hand, retail investors and investors were cut off, while on the other hand, market makers, brokers and takeover parties were "mutually beneficial and win-win". According to Ye Fei's description, the Zhongyuan Home Furnishing platform once promised to pay a benefit fee of 6.5 points. Ye Fei would get 0.5 points according to the industry regulations, and the remaining 6 points were allocated to downstream institutions.
Ye Fei made it clear on social media that he stood up to report because he was "bullied by his superiors and his subordinates" and his personality.
During this revelation, Ye Fei Weibo and other social media fans' traffic soared rapidly. In addition to the 40-day "appetite-sniffing" revelations, he also repeatedly hinted that reporters had to pay for information from him, and the price was not cheap.
Just two hours before the official website of the CSRC issued the above notice, Ye Fei posted on Weibo , saying that he received a call from the Tibet Securities Regulatory Bureau and the China Securities Regulatory Commission Inspection Corps, and asked "Content and tone, do you want to know?", saying that 2,888 yuan plus V+ members can share the phone content, and reporters are given priority. Before this, Ye Fei also expressed his hope that netizens who supported him would pay him money for "hiring bodyguards."
Another key figure in this transaction is one of the market parties Pufeidi . After Ye Fei posted Pu’s personal information, netizens soon dug out the background of this beautiful Panfang: a former employee of New Era Securities, currently the actual controller and legal representative of Xin Angel Fund Management (Shenzhen) Co., Ltd. (hereinafter referred to as Xin Angel).
Multiple information shows that Pu Feidi is accused of being a capital broker. Previously, Pu Feidi had provided securities accounts to others and borrowed huge amounts of funds to speculate in stocks, and had huge loan disputes with many "customers". Among the relevant legal documents, some courts pointed out that Pu Feidi seriously hindered the order of securities trading and was suspected of illegal operation of securities business or fraud and other illegal activities.
ShiZe Law Firm Zang Xiaoli told AI Finance and Economics that once the fact of manipulating stock prices is confirmed, listed companies, market parties, middlemen, and takeover parties will not be able to escape legal punishment. Another legal person pointed out that Ye Fei’s revelation is not exactly the same as surrendering himself.
In the notice, the China Securities Regulatory Commission emphasized that in the future, the "zero tolerance" attitude will continue to maintain a "zero tolerance" attitude towards vicious market manipulation and other illegal and irregular acts. For listed companies and actual controllers, private equity funds, , public funds and other relevant institutions and individuals engaged in or participated, they will work with the public security organs to thoroughly investigate and punish them in accordance with the law and will never tolerate them. They also expressed that all parties in the market, especially those who understand the situation and have evidence, will report clues of major illegal and criminal activities of securities futures through conventional channels.
This article is originally produced by AI Finance and Economics, a subsidiary of "Financial World" Weekly. Please do not reprint it on any channel or platform without permission. Violators will be prosecuted.
