The trend of Rendong Holdings may be a mystery in the A-share market this year.
On December 15, Rendong Holdings, which had a limit of 14 consecutive days, broke the limit and staged the “Earth and Sky Board”. As of the close, the share price of Rendong Holdings has risen 10.03% to 15.14 yuan, with a total market value of 8.477 billion yuan, which has evaporated 27.7 billion yuan from its high.
Rendong Holdings announced in the evening that the shares of Tokyo Foundation Group Co., Ltd. were reduced by 10.56 million shares through a centralized bidding, accounting for 1.88% of the total share capital. The average price of the reduction was 15.14 yuan per share, that is, the daily limit price; it was on April 13 Today, it has reduced its holdings by 11.829 million shares, accounting for 2.11% of the total share capital. The reduction method is all through centralized bidding.
The turnover of 2.1 billion in 1 minute, where does the mysterious funds come from?
Today, Rendong Holdings still opened with a lower limit, but it was divided into a watershed at 9.32, and the turnover instantly exceeded 2.1 billion yuan.
During the call auction stage, Rendong Holdings sealed the price limit with more than 1.6 million lots. At 9:32, a huge amount of funds of over 1.7 million hands suddenly entered the market, took all the sell orders, and took 39 seconds to push Rendong Holdings to the limit.
Rendong Holdings has been suspended from financing purchases, so where does this mysterious fund of 2.1 billion come from?
After-market data showed that the top five business departments bought a total of 681 million yuan, of which, Everbright Securities Foshan Lvjing Road bought 359 million yuan, Haitong Securities Shenzhen Branch Huafu Road business department bought a net 135 million yuan; BOC International Securities The Shanghai Xinhua Road Securities Business Department of Co., Ltd. and Caitong Securities Co., Ltd. Qingdao Branch sold about 300 million yuan. Among them, the business department of Everbright Securities Foshan Lvjing Road is called “Foshan Wuyingjiao” in the industry, and it is the top hot money. Its main seats also include the business department of Everbright Securities Foshan Jihua 6th Road. It relies on its own large capital advantage and ultra-short-term Operate strategies to quickly arbitrage in the market.
According to Wind data, as of December 14, Rendong Holdings had a financing balance of nearly 3 billion yuan, accounting for more than 38% of the total market value in circulation, involving securities companies and 18 brokers. Except for Guorong Securities 45%, the financing margin ratio of the remaining 18 companies is 100%. The margin ratio for securities lending varies greatly, with China Merchants Securities and Nanjing Securities being 110% and 100% respectively, and Huatai Securities, CITIC Securities, and Huabao Securities at 50% to 75%.
Rendong Holdings stated this evening that Rendong Tianjin, the company’s controlling shareholder, acting in concert with Rendong Information, received a notice from CITIC Construction Investment that Rendong Tianjin’s two integrations with CITIC Construction Investment will continue between December 15 and 18. Upon expiration, if Rendong Tianjin fails to repay all the liabilities before the contract expires, China Securities Investment Corporation will perform a mandatory liquidation based on the market and trading conditions after the contract expires. At the same time, Rendong Information’s two financing businesses in Minmetals Securities Co., Ltd. may trigger a forced liquidation due to the recent sharp fluctuations in stock prices.
Earlier, due to 14 consecutive price limits and loss of individual stock liquidity, the impact of Rendong Holdings’ plummet has spread to brokerages. According to industry insiders, Rendong Holdings’ two financings are mainly concentrated in some securities, which has a great impact on concentrated securities firms.
According to media reports, Jufeng Investment Co., Ltd. believes that Rendong Holdings unexpectedly opened the market today, and the brokerage crisis will obviously be alleviated. Chuancai Securities analysts believe that today’s prying board is a self-rescue behavior. There are a lot of institutional funds trapped by Rendong Holdings, especially the passive loss financing.
The Shenzhen Stock Exchange previously named “mysterious shareholders” and asked for self-inspection of whether transactions violated regulations
Just yesterday evening, the Shenzhen Stock Exchange issued a letter of concern, requesting Rendong Holdings to explain whether Chongzuo Zhongshuo’s establishment time, reasons, shareholding structure and actual controller status are required to perform information disclosure obligations; Chongzuo Zhongshuo is the first The specific circumstances of the transaction starting to buy and sell the company’s stock, explain the institution’s source of funds, and self-examine whether there are violations of laws and regulations in the relevant transactions.
According to its three quarterly reports, Chongzuo Zhongshuo holds a total of 3.55% of Rendong Holdings. According to Qixinbao, after the equity penetration, the actual controllers of Chongzuo Zhongshuo, Wang Shishan, Huang Hao, and Liu Changyong, are themselves the directors and executives of Rendong Holdings.
Coincidentally, the time when Chongzuo Zhongshuo was established was very close to the time when the share price of Rendong Holdings climbed. Chongzuo Zhongshuo bought Rendong Holdings in the fourth quarter of 2019, and only held one A-share of Rendong Holdings.
As of the end of the first quarter of this year, Chongzuo Zhongshuo held 21.094 million shares of Rendong Holdings, accounting for 3.77% of the total equity of listed companies. At that time, the market value of its holdings was close to 500 million yuan. During this period, the share price of Rendong Holdings has climbed, with a cumulative increase of nearly 50%. Since then, Chongzuo Zhongshuo began to reduce its holdings in Rendong Holdings, which has reduced its holdings of 1.22 million shares in the third quarter.
Currently, the market is waiting for a response from Rendong Holdings, involving the time of Chongzuo Zhongshuo’s first transaction, source of funds, and senior management team.
At the beginning of December, Rendong Holdings was confirmed as “Zhuanggu.” Some media quoted regulators as saying that the dealer of Zuozhuang Rendong Holdings has been controlled by the police. In addition, Li Yuezong, a capital tycoon engaged in OTC and virtual disk trading, has been controlled by the Pudong police, and Li Yuezong is likely to be highly related to Rendong Holdings.
Reprint indicated source：Spark Global Limited information