Zhou Dafu buy Wu Yangtze stake over two months has not yet been transferred

In May 27th, the CSRC issued a number of regulations on the reduction of shares of shareholders of listed companies and supervision of directors and supervisors (hereinafter referred to as the reduction of new regulations), which shall come into force as of the date of promulgation. The Shanghai Stock Exchange and the Shenzhen Stock Exchange have also issued special rules to improve the reduction system.

A total of 103 stocks lifted in June A month total equity, the current ban lifted 10 billion shares, the market value of 130 billion 541 million yuan, which is held by NVC founder Wu Changjiang Elec-Tech 130 million shares of restricted shares, in June 17th lifted circulation.

Wu Changjiang held 130 million restricted shares in March 16th this year, has been Zhou Dafu's two companies to 741 million yuan reserve shot, because the case procedure is complex, more than two months still no transfer.

At that time, the restricted stock price of 5.7 yuan / share, while Elec-Tech the latest price of 4.48 yuan / share, Zhou Dafu intends to hold 130 million shares of Elec-Tech, has been carrying Fukui 158 million 600 thousand yuan. Insiders pointed out that Zhou Dafu will become passive Elec-Tech long-term investors.

From floating profit 55 million 900 thousand yuan to the huge loss of more than 100 million

130 million shares held by Wu Changjiang Elec-Tech was limited to the sale of shares in 2014 Elec-Tech placement, will increase the price of 5.86 yuan / share, the lock up period of three years, in June 17th this year to ban the circulation.

This 130 million shares of restricted shares in February 13th this year for the first time the auction, the auction in March 16, Taobao auction platform idle fish again. In the end, Zhou Dafu's two companies took pictures.

The auction sale of 130 million shares of restricted shares are still divided into two standard, were 58 million shares and 72 million shares, the price of 329 million yuan and 412 million yuan, the total price of 741 million yuan per share, corresponding to 5.7 yuan, 5% lower than the first auction starting price of 6 yuan.

Two buyers are Wu Changjiang's creditors, including Tibet Linzhi Fu investment company limited and new world strategy (Beijing) Investment Consultants limited. The gold owners behind the two companies are Zhou Dafu.

As early as May 2014, when Zhou Dafu, founder of the Hongkong business legend Zheng Yutong is in Wu Changjiang, Zhou Dafu respectively to the indirect control of the two companies to borrow 250 million yuan and 200 million yuan, the loan period of 3 months, the annual interest rate is 20%. Two loans pledged Elec-Tech stock were 72 million 222 thousand and 200 shares and 57 million 777 thousand and 800 shares, the auction and the equity of two corresponding to the standard. Since nearly three years ago, Wu Changjiang has not yet paid interest payments, the pledge of equity has also been applied for judicial auction in Guangdong City, Zhuhai province court. The auction proceeds will be used to repay, "Tong Shu" had already passed away, the actual repayment head also became the eldest grandson Zheng Zhigang Zheng Yutong.

The restricted shares auction price of 5.7 yuan / share, when Hao Tiande Runda price of 6.13 yuan, Zhou Dafu, the book floating profit 55 million 900 thousand yuan, however, with the downturn in the market Elec-Tech the latest price of 4.48 yuan / share, down 26.92%, Zhou Dafu intends to hold 130 million shares of Elec-Tech, has been carrying Fukui 158 million 600 thousand yuan.

Court auction before the transfer risk has been prompted

However, over the past two months, the announcement did not follow news of the auction this year, Elec-Tech a quarterly list of shareholders, Wu Changjiang is still ranked among the top second shareholders with 130 million shares.

In May 26th, the reporter called Elec-Tech Elec-Tech, said the person, do not know the transfer of the buyers, but Wu Changjiang held 130 million shares of restricted shares Elec-Tech relates to the case is more complex, by more than one court to freeze and waiting to freeze, may not be so easy. If the transfer is completed, because it is more than 5% of the equity change (Wu Changjiang holdings accounted for 9.31%, Elec-Tech) will be released simple changes in equity book.

In March 16 month auction announcement, the court said, the auction can handle the transfer procedures and handling time, please bid themselves to the relevant departments to understand the consultation confirmed in the bid before, because of the subject matter or there are other reasons can not delay the transfer formalities and handle the transfer costs caused by the increase of the consequences. The court only issued executive ruling and assist in the implementation of the notice of the transfer of the subject matter does not make any promise.

Will Zhou Dafu lose because of the fall in share prices? Insiders pointed out that Zhou Dafu's two companies to pay bond auction auction reserve price of 741 million yuan, only 5%, that is 37 million 50 thousand yuan, if you give up the payment transaction, the loss of 37 million 50 thousand yuan bond auction, more than 741 million yuan with 130 million shares Elec-Tech, Fukui 158 million 600 thousand yuan worth it.

However, a auction companies officials said, as the application executor of Zhou Dafu's Tibet Linzhi Fu investment company limited and new world strategy (Beijing) Investment Consultants Limited, should apply to the court, with 130 million shares of stock rights and debt Elec-Tech, must pay 741 million yuan total transaction price, so on may transfer links need to solving the obstacles.

A passive Elec-Tech long-term investors

According to the March 16th Elec-Tech equity auction announcement, if the auction, in accordance with the law, apply for enforcement shall have the right to apply to the court for repossession.

Chongqing Normal University professor Tian Ying believes that in March this year, Zhou Dafu bids Elec-Tech equity, should not fully predict the future stock price decline and the reduction of the Commission today issued new regulations, therefore, to participate in the bid.

If Elec-Tech 130 million shares in June 17th this year after the lifting of the ban, and finally transfer to Zhou Dafu through the efforts of the two companies, the Commission will be affected by the implementation of the new regulations to reduce the constraints, as planned by the securities trading