The relationship between Liu Luanxiong and Xu Jiayin is like the relationship between China Land (hereinafter referred to as China Land) and Evergrande, some of which are connected, like grasshoppers on a rope, not to die of cold lips and teeth, but as long as Evergrande is not happy, ACN will not have a stable life. Although Mr. and Mrs. Liu Luanxiong still seem to be full of confidence in Xu Jiayin (Evergrande), the shock and decline of Evergrande's stock price has made ACN unprofitable in the whole of 2021. So it wasn't just Gambi who released Evergrande's shares twice in half a month in his private name and directly cashed out 120 million yuan, in fact, ACN recently disclosed that it had reduced its holding of 109 million shares of Evergrande through the Stock Exchange from August 30 to September 21, directly cashing out 246 million. And this is just the beginning, according to ACN's announcement, it plans to liquidate Evergrande's shares within one year, even if it loses tens of billions of yuan.
This is a very delicate signal, although in terms of concept, ACN's decision is fundamentally contrary to Liu Luanxiong's current attitude, but in the end, Liu Luan cannot fully represent ACN Today, after all, he has nominally left ACN, and the only bond between him and ACN is Gambi - Gambi is the CEO of ACN and the wife of Liu Luanxiong, which is the only connection between the two at this stage. Therefore, both are independent roles, which is why Liu Luanxiong will continue to buy 76 million shares of Evergrande in the name of Tianfa Securities, rather than in the name of ACN. Obviously, he made a good distinction and tried to ensure that the two were not implicated and affected, but everyone was accustomed to tying Da Liu and Hua Di together, and there was a kind of Decision of Da Liu that was AO's policy.
In an interview after becoming the CEO of ACN in 2021, Gambi once stressed that he never talked about business with Da Liu when he went home, and Da Liu did not ask about ACN's decision-making and development, which shows that Da Liu really did not care, so his support for Evergrande and Gambi (ACN)'s confidence in Evergrande is not at all contradictory. Looking back at ACN and Evergrande, under the leadership of Liu Luanxiong, ACN bought a large number of shares in Evergrande and became one of the largest investors in Evergrande, and now ACN's investment in Evergrande accounts for 26.6% of ACN's total investment, this volume is already quite large, as long as Evergrande has any wind and grass, it can affect the development of ACN, even if it is not fatal, it will definitely not make ACN's business statement look good. In the financial report of the first half of 2021, ACN published the first half of the year, which was obviously profitable as a whole, but lost money because of holding shares in Evergrande, with a loss of 4.9 billion yuan, and the bane was Evergrande.
If we want to change ACN's current financial situation, it is inevitable to let go of Evergrande shares. ACN has been waiting and watching for the past two months, and unfortunately, in the second half of the year, Evergrande's stock price continued to decline in the shock, and now it has fallen below 3 yuan. If you do not compare the actual numbers, it is difficult to imagine what this concept is, to know that when ACN bought Evergrande shares, Evergrande's shares were still hovering at a high price of 25.95 yuan, and in today's decline, it fell by nearly 90%. After all, ACN is a large enterprise, to account for the shareholders, even if the children of Gambidai hold 75% of the shares, it is impossible to cover the sky with one hand, and if you want to develop, you must stop the bleeding, and the only way is to adhere to the shares.
Gambi is a starter, on August 26, she had already reduced her shareholding in Evergrande, but the number of shares she reduced at that time was not much, and she also stressed that this was a normal investment behavior and did not attract much attention. In fact, since August 30, ACN has also begun to sell shares in Evergrande, and it is worth mentioning here that excluding the shares of Evergrande held by Liu Luanxiong, the shares held by ACN in Evergrande are divided into two parts, one part is privately held by Gambi and the other is held by Gambi in the name of Evergrande. ACN recently issued an announcement on the reduction of Evergrande's shares, saying that between August 30 and September 21, ACN sold 109 million shares of Evergrande, cashing out 246 million, with an average price of 2.26 yuan per share, which is a very low price. At present, ACN still holds 751 million shares in Evergrande, accounting for 5.66% of Evergrande's issued shares.
ACN began selling shares in Evergrande, which is only the first stage of the reduction. According to Evergrande's public report, according to the relevant regulations, the directors will be granted the right to sell for the approval of the relevant shareholders, and after September 23, all or part of the authorized Evergrande shares held by ACN will be sold within 12 months, that is, ACN will release all Evergrande shares within one year, which shows that ACN has lost confidence in Evergrande. Indeed, if calculated according to Evergrande's share price of 2.27 yuan on September 21, it is expected that as of December 31, ACN will lose 9.4863 billion yuan because of its shares in Evergrande, and if it is calculated together with the shares that have been reduced during the year, it will lose 10.863 billion yuan for the whole year. Of course, whether the sale of shares can be carried out as scheduled, there is still room for flexibility, in short, whether the Evergrande crisis can be resolved.
ACN fully sold Evergrande's shares, this is a last resort, from Liu Luanxiong's point of view, he does not have any opinions, nor is it convenient to give advice, but in any case, ACN is his years of hard work, he does not want to work so hard, should let go, if you still remember the old and Xu Jiayin's personal feelings, you will increase your own shares in Evergrande, as long as you do not involve ACN, anything is easy to say.
PS: The pictures are all from the Internet