Friends in the asset management industry probably all understand that managing financial services on behalf of customers is really hard work. Especially when you have made enough money and have a net worth of 10 billion, is it still necessary to make that hard-earned money?
Brokerage China reporters learned that futures tycoon Ge Weidong recently transferred large-scale equity shares of the private equity holding company Chaos Daoran under his name, and the private equity controlling equity also changed hands as a result. Does this mean that Ge Weidong intends to fade out of the private equity circle? The big boss's actions left a big question mark on the industry. Although its products have struggled in recent years, Ge Weidong's personal investment vision has always been amazing. With the help of A shares, has risen sharply, and the legendary tycoon's profit this year has exceeded 2 billion in stock investment alone.
Ge Weidong's transfer of private equity in his name
Tianyan Check information shows that the private equity fund under Ge Weidong's subsidiary Shanghai Dun Daoran Asset Management Co., Ltd. has recently changed its investors' equity. Ge Weidong sold the shares of Shanghai Chaos Investment (Group) Co., Ltd., which he controlled, and was no longer the major shareholder of Chaos Daoran. The takeover of the company, Shanghai Daoran Jieyi Enterprise Development Partnership (Co., Ltd.), became a controlling shareholder with a 47.50% equity ratio. After the equity change of
was completed, Chaos Daoran's largest shareholder changed from Chaos Group to Daoran Jieyi. The difference between the two is that Ge Weidong holds 82.86% of Chaos Group's shares, which can be regarded as Chaos Group controlled by Ge Weidong, while Daoran Jieyi's shareholder list does not have Ge Weidong's name.
Previously, Chaos Group and Ge Weidong held a total of 89.81% of Chaos Daoran's equity. After this equity change, Ge Weidong's direct shareholding ratio was still 40.26%, while the indirect shareholding ratio through Chaos Group dropped sharply from the original 49.55% to 2.05%. The two currently hold a total equity ratio of 42.31%.
This means that Ge Weidong has officially transferred the controlling stake in the private equity fund, Chaos Daoran.
Ge Weidong started his business with futures investment. It is rumored in the industry that he started trading futures in 2000, and in more than 10 years he made 1 million assets worth 15 billion. Ge Weidong himself graduated from the Department of Economics of Sichuan University. In 2005, he initiated the establishment of Shanghai Chaos Investment Co., Ltd., which covers commodity trade, commodity futures investment, securities investment, equity investment, etc.
In 2007, it initiated the establishment of Shanghai Chaos Daoran Asset Management Co., Ltd., which specializes in securities market investment. The Hurun wealth list released last year shows that Ge Weidong ranked 211th in the Hurun Rich List with a net worth of 16 billion, up 5 places compared with 2017 and an increase of 1 billion in assets.
According to Tianyan Check data, currently, companies with Ge Weidong as the legal representative include Shanghai Chaos Investment (Group) Co., Ltd., with a registered capital of 298 million yuan; Guizhou Dongjing Real Estate Development Co., Ltd., with a registered capital of 317 million yuan. As a shareholder, there are four companies, in addition to the three companies mentioned above, including Chaos Daoran, Chaos Investment and Dongjing Real Estate, there is also a name called Shanghai Dongjing Metal Co., Ltd.
The official website of the Fund Industry Association shows that Chaos Daoran currently has 29 employees, the legal representative is Wang Xin, and Ge Weidong serves as the chairman. It was disclosed that there were 10 funds established after the implementation of the Interim Measures. Except for one product that showed a delayed liquidation, the rest of the status was "in operation".
New Third Board listed company Hun Dun Tiancheng is another commodity futures investment management company under Ge Weidong. Recently, the company announced that due to the problems of competition among the former affiliate Dun Daoran and the company in asset management business, the company's controlling shareholder Dun Group and actual controller Ge Weidong promised to inject Dun Daoran assets into the company by the end of 2020, and make relevant arrangements for the two's asset management business to avoid competition. At present, the control of Chaos Daoran has been transferred, Chaos Group is no longer its controlling shareholder, and there is no competitive relationship between the company and Chaos Daoran.
However, CITIC Securities stated in the risk warning announcement issued by that Chaos Group did not inject Chaos Daoran into Chaos Tiancheng as agreed in the promise, but transferred it to an unrelated third party. It is a matter of commitment adjustment and needs to be reviewed and approved by the company's shareholders' meeting.At the same time, the company's announcement also shows that since the number of non-affiliated directors attending the board of directors is less than three, the proposal still needs to be submitted to the company's shareholders' meeting for deliberation.
Chaos Daoran product performance rebounded strongly this year
Shanghai Chaos Daoran Asset Management Co., Ltd. was founded in 2007 by private equity tycoon Ge Weidong, with a registered capital of 77 million yuan. Ge Weidong serves as the company's chairman, and Wang Xin, former deputy director of the Foreign Affairs Department of the International Department of the Bank of Communications, serves as the company's general manager. In terms of investment, the former is responsible for futures, while the latter is responsible for stock investment.
Although Ge Weidong is famous for his personal investment, his asset management business has continued to struggle in recent years.
As early as the abnormal fluctuations in A-shares in 2015, the net value of Chaos Value No. 1 and 2 funds under Chaos Daoran experienced a sharp retracement. The unit net value of Chaos Value No. 2 funds, which was established later, fell to 0.66 yuan in September of that year. In order to stabilize investor confidence and help investors recover their losses, the company issued an apology letter in August and announced in September that it would add 150 million yuan to its two funds and transfer investment returns.
In December 2016, the performance of products under Chaos Daoran once again showed a sharp retracement, and the net value of Chaos Value No. 2 Fund fell to a new low of 0.57 yuan. Chaos Investment, the controlling shareholder of Chaos Daoran, once again came up with an additional plan. The company took out 300 million yuan as funds to subscribe for its funds, of which 100 million yuan was used to subscribe for Chaos Value No. 1 and transfer its profits; the other 200 million yuan was used to subscribe for Chaos Value No. 2 and transfer its profits until the net value returned to 1 yuan.
However, since 2019, the performance of products under Chaos Daoran has rebounded significantly. According to Chaoyang Perpetual Data, many of its private equity products have a yield of more than 30% in the year, ranking high in the industry.
The big guy bet on many big bull stocks, and the profit has exceeded 2 billion
The big guy Ge Weidong and his company's holdings have always been the focus of market attention. Ge Weidong prefers technology stocks. Some people who are familiar with him know that investing in the future and innovation is more meaningful in Ge Weidong's opinion. Judging from the shareholding situation, Ge Weidong obviously made great profits in the capital market this year, and he bet on many bull stocks, and his floating profits may have exceeded 2 billion yuan.
According to Wind data, according to the latest released financial reports of listed companies, Ge Weidong's A-share listings in the top ten circulating shareholders as a natural person include: Guoxin Health (000503), iFLYTEK (002230), Northern Huachuang (002371), Coswood (300192), Tibet Pharmaceutical (600211), UFIDA Network (600588), Inspur (603019), and Zhaoyi.com (603986).
UFIDA Network (600588)
The first one to bear the brunt of UFIDA Network. The latest data shows that Ge Weidong holds 71.4 million shares and ranks fifth among the top ten circulating shareholders. Since the beginning of this year, UFIDA Network has risen by 11.78 yuan per share or 55.3%, and UFIDA Network alone has brought more than 800 million yuan in profits to Ge Weidong.
Inspur (603019)
On Inspur, Ge Weidong's floating profit is also amazing. According to the annual report of Inspur, Ge Weidong holds 31.32 million shares and also ranks second among the top ten mobile shareholders. Based on this year's increase, Ge Weidong's profit on Inspur may have exceeded 700 million yuan.
iFlytek (002230)
The third-ranked stock to bring Ge Weidong's profit this year is iFlytek. According to the third quarter report last year, Ge Weidong held 35.37 million shares. According to the latest increase, Ge Weidong's floating profit on iFLYTEK may have reached 350 million yuan.
Other
Some other stakes in Ge Weidong have also made good profits. Among them, Northern Huachuang has increased by more than 80% this year, and has held 3 million shares in the third quarter report last year. Ge Weidong, the stock alone, made a profit of more than 90 million yuan this year.
Another stock, Guoxin Health, has increased by as much as 76% this year. Last year's third quarter report showed that Ge Weidong held 9.71 million shares, ranking second among the top ten circulating shareholders. Based on this calculation, Ge Weidong's profit on this stock has exceeded 100 million this year. Guoxin Health issued an announcement on March 22, intending to acquire Shanghai Jingyi Technology Co., Ltd., involving a major asset restructuring, and the company is currently suspending trading.
In addition, Ge Weidong also made some achievements in the three stocks of Tibet Pharmaceutical (600211), Zhaoyi NetNew (603986), and Coswood (300192).
It is worth mentioning that the holdings of private equity funds under Chaos Daoran have also achieved good returns this year. According to Wind data, Chaos Daoran's main products Chaos Value No. 1 and Chaos Value No. 2 heavy holdings include Tibet Mining (000762), Luyang Energy Conservation (002088), Greenmei (002340), Huangshan Tourism (600054) and Qianhe Flavor Industry (603027). The stock prices of these companies have increased by more than 20% this year, and Qianhe Flavor Industry, which has the largest increase, has increased by 56%.
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