Youngor's performance "shadow": increase by 12% to 90%

The slump in the secondary market is causing the agencies that previously participated in targeted private placements of listed companies to face the situation of “lifting the ban, that is, deepening the ban.” This includes increasing the number of households. The reporter also counted the 23 stocks lifted by Youngor so far in the second half of last year, and calculated the market value at yesterday's closing price, and found that 20 of them were floating losses and the amount of floating losses was 1.2 billion. If Youngor cashes out after the lifting of the ban on the highest share price of these companies, there are still 10 stocks whose losses are relative to their investment costs (of which Huaxin Cement has not lifted the ban).

Investment Jinggong Technology Losses 52%

In the early years, Youngor benefited from over two billion investment in the two investments of CITIC Securities and Ningbo Bank. Subsequently, he successively participated in the private placement of companies such as Haitong Securities, Shanghai Pudong Development Bank and Zoomlion. Maybe it was a taste of sweetness. In 2011, Youngor participated in the fastest growing pace of listed company's pace of growth. It participated in Wuyuan Power, Guangbai Group, Hisun Pharmaceutical, and Haikou at an average rate of “one monthly bill”. A total of 12 companies including Lide, Xingrong Investment, Shengyi Technology, Yuntianhua, Jinggong Technology, Shengnong Development, Dongfang Zirconium Industry, Xinjiang Zhonghe and Huaxin Cement have issued private placements with a total investment of 2.664 billion yuan. The largest investment amount was Wuyuan Power, which purchased RMB 53.43 million of Wuyuan Power for RMB 900 million.

From January of this year, the restricted shares held by Youngor's 12 companies have been lifted one after another. Taking into account the company’s dividend payout plan, and in accordance with yesterday’s closing price, with the exception of Oriental Zirconium’s approximately 14 million floating profits, the remaining 11 companies have floated losses, and the accumulated floating losses amounted to approximately 400 million yuan.

Judging from the degree of floating losses, the top three of the highest levels are Guangbai, Xinjiang Zhonghe and Jinggong Technology. Their losses are 39%, 41%, and 52% respectively, and the amount of floating losses is between 30 million and 40 million yuan. .

Take Jinggong Technology as an example, although Youngor's allocation amount was only 990,000 shares, after two times of ex-rights increase to 2.97 million shares. However, judging from the trend of Jinggong Technology's share price, the institutions participating in the increase will have experienced a “roller coaster”.

The main business of Jinggong Technology is the production and manufacturing of ingot furnaces and it is a photovoltaic equipment manufacturing industry. In 2010 and 2011, as the downstream manufacturers substantially increased their production capacity, the photovoltaic equipment industry reached a historical high. From the end of September 2010, Jinggong Technology announced that it has increased its share price from 15.49 yuan at the bottom to 70 yuan on May 9, 2011. In late May, Jinggong Technology implemented a private placement, under the scrutiny of subscription agencies. The price increase will be as high as 60.1 yuan.

Since then, Jinggong Technology's share price has continued to rise to the historical peak of 79.95 yuan. However, with the photovoltaic industry entering the adjustment period in 2011, the company's share price has also experienced a sharp drop, after a "10 get 10" and "10 get 5 After that, the current share price is only 9.5 yuan, equivalent to 28.5 yuan before ex-rights, a drop of 52.5% compared to the fixed price increase of 60.1 yuan. In the same way, Youngor had never had a chance to withdraw after this stock was lifted.

It is worth noting that, as the holding subsidiary of Youngor, and also the actual trader of Younger's fixed-income business, Shanghai Kaishi Investment Management Co., Ltd., the funded and managed Tianjin Kaishi Yijin equity investment fund partnership company also participated. The increase in power science and technology, at the time it cost 120 million to get 2 million shares, is currently facing the same heavy losses.

According to Youngor's quarterly report, the company’s available-for-sale financial assets decreased from 9.362 billion yuan at the beginning of the year to 8.34 billion, and the investment income from the disposal of available-for-sale financial assets was 185 million yuan. However, it is not clear whether Youngor’s reduction of the above shares by fleshing.

Absence of increase in 2012?

In fact, Younger’s increased participation in the second half of 2010 is not considered “ideal”. According to the statistics of the newspaper, the fixed-income increase projects it participated in include Donglikeng, Foton Motors, Xugong Machinery, SAIC, Lingyun, Hua Lu Hengsheng, China Gold Gold, Air China and Shan Coal International, and Youngor holds these companies’ The stocks were all lifted in the second half of last year. Among them, the shares of Foton Motors, Air China and Lingyun have never "stopped" after the lifting of the ban, and the current stock price is set to increase, and Youngor's float loss ratios are 27% and 45%, respectively. 55%.

It is worth noting that perhaps Youngor is dissatisfied with the above-mentioned results. Since this year, Youngor has not appeared in the list of private placements of any listed company. In addition to the fund of Kaishi Investment Management that participated in the private placement of Nanyang Technology, Jiugui Liqun, Minhe Group, Yinlun Securities and Chaohua Technology, Youngor Group did not participate in the private placement of listed companies.

According to industry insiders, the funding for the investment of Kaiser Investment is mainly raised in the market in the form of a trust plan, rather than Youngor. Since 2010, at least five funds specialized in private placements have been issued.