Fukai Abstract: , which is eager to sell shells, Ningbo Fubon , encountered a setback in the first battle. Not only did the restructuring end in failure, but insider trading was also revealed.
Author | shirely, WeChat public account: Fukai Finance (ID: fukaicaijing)
The niece of the actual controller was fined for insider trading
January 5, the China Securities Regulatory Commission issued an insider trading fine. Ying Yanhong, deputy general manager of Ningbo Fubon's holding company, made a profit of 358,000 yuan during the sensitive period of insider information, and was fined 1.43 million yuan by the China Securities Regulatory Commission. The other party involved in the insider transaction is the chairman of Fubon Holdings, which is the actual controller of Ningbo Fubon. According to the investigation by the China Securities Regulatory Commission, in February 2016, Song Hanping interacted with Tianxiang Interactive Entertainment and Tianxiang Interactive to plan restructuring matters; on March 31, Ningbo Fubon issued an announcement on the suspension of trading on major matters; on July 12, Ningbo Fubon issued an announcement stating that it plans to purchase 100% of Tianxiang Interactive Entertainment's equity for a price of 3.75 billion yuan and acquire 100% of Tianxiang Interactive's equity for 150 million yuan in cash; on March 14, 2017, Ningbo Fubon resumed trading.
On March 23 and 26, 2016, Song Hanping, as an insider of the insider of Ningbo Fubon's issuance of shares and payment of cash to purchase assets, spoke to Ying Yanhong, who was also the deputy general manager of Ningbo Fubon's holding company three times. The latter bought a large amount of Ningbo Fubon from March 29 to 30, and his behavior was different from usual. Regarding this insider trading, the CSRC's corresponding punishment for Yan Hong is to confiscate illegal income and impose a three-fold fine.
This matter has been fermenting for a long time, and the China Securities Regulatory Commission’s fine is not the first time it has been disclosed. There are also negative news in the stock bar, but there is more than this hurdle facing Ningbo Fubon. The asset restructuring that interacts with Tianxiang has failed, the main business is sluggish, and the shell selling is not going well, and the future is not optimistic.
cross-border restructuring was inquired and modified and failed
According to Fukaijun, according to the initial transaction plan, Ningbo Fubon purchased 100% of Tianxiang Interactive Entertainment by issuing shares and paying cash, and purchasing 100% of Tianxiang Interactive's equity. The issuing shares will raise no more than 1.843 billion yuan. At that time, it was the new backdoor regulations, and Ningbo Fubon quickly attracted attention with the behavior of swallowing the big ones with a small one, and the Shanghai Stock Exchange issued an inquiry letter.
Subsequently, Ningbo Fubon modified the transaction plan and purchased 70% of Tianxiang Interactive Entertainment's equity by issuing shares and paying cash. The transaction price was 2.625 billion yuan. 100% of Tianxiang Interactive's equity by paying cash. The transaction price was 150 million yuan. At the same time, the planned supporting financing will not exceed 1.12 billion yuan.
reduces the scale of acquisition assets, reduces the fundraising, and reduces the number of shares issued. It is clear that sincerity is seen, but unfortunately, it ends in failure. In March this year, Ningbo Fubon issued an announcement to terminate the restructuring. Regarding the reasons, Ningbo Fubon said that due to the continuous changes in the domestic securities market environment and objective situations such as policies and regulations, all parties believe that the conditions for continuing to promote this restructuring are not mature enough.
However, investors who had been waiting for a year were not satisfied with this. At the investor briefing held at that time, investors raised a total of 17 questions and hoped that Ningbo Fubon would give an answer, focusing on whether to continue to reorganize with Tianxiang Company and the company's future development.
net profit deducted non-operating items for 9 consecutive years and was eager to sell the shell
for one year, the Shanghai Stock Exchange asked twice, and the restructuring plan was revised once. Ningbo Fubon and Tianxiang interacted with each other, which took great pains to hold hands, but in the end, it still ended in failure. Not only did it end up in a short time, but it also made an insider transaction, which made it very fishy.
Ningbo Fubon, which failed the first battle, would not have given up. In the words of the secretary of Ningbo Fubon's board of directors at that time, after walking through the eighteen bays of the mountain road, I want to say that if my heart is there, my dream will be there. At worst, I can start over again. After all, from the perspective of the industry, Ningbo Fubon's main business has been in a downturn for many years and has long become shell resource .
It is understood that Ningbo Fubon mainly engages in the manufacturing and production of non-ferrous metal composite materials, new alloy materials, aluminum and aluminum alloy plates, belts, foils and products, and aluminum profile products. From 2008 to 2016, Ningbo Fubon's non-restricted net profit has been losing 9 consecutive years.
In the first half of this year, Ningbo Fubon's revenue was 395 million yuan, a year-on-year increase of 17.12%, but a net profit loss of 13.3688 million yuan; in the first three quarters, Ningbo Fubon's revenue was 590 million yuan, a year-on-year increase of 11.79%, and the net profit turned to 88.3171 million yuan, but a net profit loss of 21.4429 million yuan after deducting non-net profit.
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