Take its toll! Just now, the shareholders of our Le Home Furnishing illegally reduced their holdings and were fined more than 49 million yuan
Text | Yang Wanli
The shareholders who illegally reduced their holdings finally paid the price and praised the speed and strength of the regulators.
On Friday evening (September 15), the Jiangsu Regulatory Bureau issued the "Prior Notice of Administrative Punishment", ordering Fan Yi, Yantai Evie Trading Co., Ltd., Tibet Aiwei Venture Capital Co., Ltd., and Yantai Aiwei Pipe Industry Co., Ltd. to make corrections, give warnings, confiscate about 16.5349 million yuan of illegal gains, and impose a fine of 32.95 million yuan, with a total fine of 49.4849 million yuan.
On the same day, the SSE made a disciplinary decision, publicly condemning Yu Fanyi, a shareholder of our home furnishing, Liu Fujuan and Yantai Aiwei Pipe Industry Co., Ltd., and circulating criticism of Tibet Aiwei Venture Capital Co., Ltd. and Yantai Aiwei Trading Co., Ltd.
It is understood that Yu Fanyi and Liu Fujuan are husband and wife, and they individually / collectively own 100% of the equity of Yantai Evi Pipe Co., Ltd., Tibet Aviy Venture Capital Co., Ltd. and Yantai Evi Trading Co., Ltd., and Yu Fanyi serves as the executive director and/or general manager of Yantai Aviy Pipe Co., Ltd., Tibet Aviy Venture Capital Co., Ltd. and Yantai Evi Trading Co., Ltd. respectively. Therefore, the parties act in concert.
The reason why Yu Fanyi and his concerted actors were severely fined by the regulator stemmed from his recent violations.
Due to the recovery of the concept of the real estate industry chain, our home has pulled out a total of 8 price limit boards from August 28 to September 6. On September 5 and September 6, when the stock price of our Le Home rose to a high level, Yu Fanyi and his concerted actor Liu Fujuan and others reduced their holdings in large quantities. Generally speaking, shareholders holding more than 5% of the shares should disclose their holdings in a timely manner.
On September 7, Yu Fanyi, a shareholder of Wele Home, and his concerted actors were placed on file for investigation by the CSRC for suspected over-proportional reduction of their holdings.
On September 8, in the "Announcement on Responding to the Regulatory Work Letter of the Shanghai Stock Exchange", Yu Fanyi and his concerted actors expressed sincere apologies for the illegal reduction of shareholding, said that they would buy back the excess reduction of shares in this violation as soon as possible, and also said that if this part of the share repurchase involves the proceeds of the income will be owned by the listed company.
In less than half a month, the regulator quickly dealt with Yu Fanyi, a shareholder of our home furnishing, and his concerted actors, because they were suspected of over-proportional reduction of their holdings, and rectified the discipline of the secondary market.
We are concerned that as early as September 16, 2021, Wele Home disclosed the "Announcement on Shareholders Receiving a Warning Letter from the Jiangsu Securities Regulatory Bureau", and that when the cumulative shareholding reached 5%, Every Management Industry and its concerted actors failed to disclose and stop trading in a timely manner as required, but continued to increase their holdings of the company's shares, and the Jiangsu Securities Regulatory Bureau took administrative supervision measures against Fan Yi and its concerted actors, which were recorded in the integrity file of the securities and futures market.
At that time, Yu Fanyi and his concerted actors said in the announcement that they would obey the administrative supervision measures decision of the Jiangsu Securities Regulatory Bureau and said that they would prevent such a situation from happening again.
Ironically, two years later, Yu Fanyi and his co-operators violated the law again.
It is worth mentioning that the subject involved in this case is Yu Fanyi and his concerted actors, which are independent financial investors of our home furnishing and do not involve listed companies.
On the interactive platform, the staff of our home furnishing said in response to investors' questions that the actual controller and controlling shareholder of the company have never reduced their holdings since their listing.
According to the data, our home is engaged in the design, research and development, production, sales and related services of overall kitchen cabinets and whole house customized furniture products. As of the first half of 2023, the proportion of whole house customization and overall kitchen cabinets in the company's revenue was 70.15% and 29.85%, respectively.
In terms of performance, in the first half of 2023, our home furnishing achieved revenue of 736.3 million yuan, a year-on-year increase of 3.53%; The attributable net profit was 59.8631 million yuan, a year-on-year increase of 48.26%, mainly due to the increase in distribution business and bulk business income compared with the same period, and the relatively small base of the previous year.
In terms of stock prices, after the stock price soared to 17.46 yuan on September 7, it entered a correction channel. The latest closing price on September 15 was 12.91 yuan, down more than 19% from the high of 17.46 yuan.