Pi Hai Chau | Cube everyone talks columnist
"Please support NORD, next year's market value is not 50 billion, I apologize for it", this is a message recommended by his own company's stock in the WeChat circle of friends at about 10 p.m. on October 22, but a few minutes later, Chen Yubi deleted the message.
However, although Chen Yubi deleted this message, Chen Yubi's message still left footprints in the circle of friends, and pushed Chen Yubi, who "cut his belly" to recommend his own stock, to the front of the stage. On October 26, the relevant screenshots of the circle of friends were widely circulated on the Internet, and on October 27, the stock price of NORD shares rose by 6.54% against the trend. Although NORD Co., Ltd. clarified the news of Chen Yubi's "cutting belly and recommending shares" on the evening of October 26, saying that "the outlook involving the company's future market value in the screenshot is based on the personal outlook for the securities market of the new electric sector, and does not make investment recommendations to anyone and does not represent the company's position", the company's stock price rose sharply the next day, indicating that the influence of Chen Yubi's "cutting belly and recommending shares" is still quite huge. When the vice president of a listed company dares to recommend his own stocks with "cutting his abdomen and thanking him", this "confidence" can still affect the market, so that investors cannot help but believe it.
So, as the vice president of NORD shares, why does Chen Yubi recommend his own company's stock in the way of "cutting his stomach and apologizing"? Although NORD shares said in the clarification announcement that chen Yubi's "cut belly recommended stock" news was released to a small number of his personal friends, and Chen Yubi's release of this message was an operation error when setting up a small number of friends in the WeChat circle of friends to see, but Chen Yubi's recommendation to "a small number of friends" is also a recommendation, and it is a "small number of friends" in the circle of friends, in the Internet world, "a small number of friends" will soon evolve into "the public". Therefore, Chen Yubi's recommendation of his own company's stock to a "small number of friends" is not substantially different from recommending his own company's stock to the public, and even the influence of recommending stocks to "a small number of friends" is greater. Therefore, even if Chen Yubi recommends his company's stock to a "small number of friends", it will not change the fact that he recommends his own stock.
Of course, the reason why Chen Yubi dared to recommend his own company's stocks in the way of "cutting his stomach and thanking his guilt" did show a kind of confidence in the company's stocks. This is actually the company's development in recent years to give Chen Yubi the confidence.
According to public information, the main business of NORD co., Ltd. is the research and development, production and sales of electrolytic copper foil for lithium-ion batteries. Its main products are electrolytic copper foil for lithium batteries, electrolytic copper foil for printed circuit boards, and ultra-thick electrolytic copper foil. Lithium battery copper foil is used in lithium-ion battery products, and eventually applied to new energy vehicles, 3C digital, energy storage systems and other terminal products. Among them, new energy vehicles are currently the largest application area, which is also an outlet in the current market.
At the same time, Guohai Securities also mentioned in the research report that in 2021, due to the shortage of lithium battery copper foil, the processing fee has been raised many times. From the perspective of the fourth quarter of 2021, the new production capacity of the head company is very limited, NORD is currently in full production, the orders are abundant, and there is no new effective capacity in the fourth quarter of this year. Due to the high investment intensity of lithium battery copper foil, about 800 million yuan / million tons of investment, core equipment cathode roller and other dependence on imports, overseas equipment manufacturers long delivery cycle, taking into account the environmental impact assessment and other factors, the construction of new production capacity basically needs 1.5 years to 2 years or so, overall, taking into account the lithium battery copper foil expansion cycle, power battery demand rapid growth and other factors, it is believed that lithium battery copper foil processing fees are expected to continue to rise.
Because of this, NORD shares can be considered as a company that is currently standing on the cusp of the market, and the resulting growth in the company's performance is obvious. According to the semi-annual report of NORD shares, the company achieved operating income of 2.008 billion yuan, an increase of 153.42% year-on-year; achieved a net profit attributable to shareholders of listed companies of 201 million yuan, a year-on-year turnaround, with a loss of 17.6934 million yuan in the same period last year. Corresponding to the growth in performance is a sharp rise in the company's stock price. Since the beginning of this year, NORD shares have risen from the lowest 6.64 yuan to the highest 25.18 yuan, the stock price has increased by nearly 4 times, and on October 22, the company's stock market value was 31.3 billion, and there is still nearly 60% room for growth from the market value of 50 billion.
Of course, Chen Yubi's "cutting belly" to recommend his own company's stocks is also concerned about the gains and losses of personal interests. In April this year, NORD completed the grant registration of the 2021 stock option incentive plan, and a total of 133 people were granted a total of 28.5 million stock options at a price of 7.55 yuan per share. Among them is Chen Yubi, who received 1,556,100 awards, accounting for 5.19% of the total number of grants, and he is also the largest recipient. According to the closing price of Nord shares on October 22, the market value of Chen Yubi's stock reached 34.86 million yuan, and if the stock market value of Nord shares stood at 50 billion yuan, the market value of Chen Yubi's shares could reach 56 million yuan. In 2020, Chen Yubi's annual salary is 730,000, and the stock market value is 76 times his annual salary. This is obviously a huge asset for the working class. It is precisely because of this that Chen Yubi's "cutting belly" to recommend his own company's stock is a strong motivation.
But Chen Yubi's approach is clearly illegal, even if it is intended to recommend his own company's stock to a "small number of friends". This is not only suspected of leaking the insider information of listed companies, but also easy to constitute insider trading, and even suspected of manipulating stock prices by means of insider information. Of course, if Chen Yubi's recommendation is not true, it is suspected of misleading investors. According to Article 2.4 of the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange, a listed company and the relevant information disclosure obligor shall publicly disclose material information to all investors at the same time, ensuring that all investors have equal access to the same information and may not disclose or leak it to individual or partial investors. Article 2.6 stipulates that the disclosure of information by listed companies and relevant information disclosure obligors shall be objective, shall not exaggerate, and shall not contain misleading statements. Chen Yubi's actions clearly violated relevant regulations.
It is precisely for this reason that the Shanghai Stock Exchange not only issued the "Regulatory Work Letter on Matters Related to media Reports of NORD Investment Co., Ltd." to Nord Investment Co., Ltd. on October 26, but also made a regulatory warning decision for Chen Yubi himself. As far as the regulatory measures taken by the Shanghai Stock Exchange against Chen Yubi are concerned, it is only a matter of obvious that the regulatory warning is somewhat light, and it is necessary to further investigate Chen Yubi. If it does involve the disclosure of inside information, or constitute insider trading, or the manipulation of stock prices, it is necessary to punish them according to law.
Editor-in-charge: Liu Anqi | Review: Li Zhen | Director: Wan Junwei