On May 21, Changchun High-tech (000661.SZ), a 100 billion pharmaceutical white horse stock known as "Northeast Moutai", suffered a rare stop. The company's stock price has been lower since the opening of the market, and finally closed at a stop of 455.5 yuan / share, and the daily trading volume reached 8.153 billion yuan, which is the highest scale in the near future.
Who is selling "Northeast Moutai"? Have there been any changes in company fundamentals?
<h4>The day before the plunge, the individual major shareholder "fled" 1.938 billion yuan at a discount</h4>
A post-market announcement by the company may have uncovered some of the answers to the plunge. Changchun Gaoxin announced after hours that the company received a notice from Jin Lei, a natural person shareholder holding more than 5% of the shares, that it had reduced its holdings in the company by a total of 8.0932 million shares, accounting for 1.9997% of the company's total share capital, in a block transaction from December 22, 2020 to May 20, 2021.
According to Oriental Wealth Choice data, yesterday (May 20), Changchun Gaoxin appeared a large transaction of 1.938 billion yuan, divided into 34 transactions, with a transaction number of 4.1242 million shares, accounting for 1.01% of the company's total share capital.
According to the details of Jinlei's reduction disclosed in today's after-hours announcement, 34 large transactions yesterday were sold by Jinlei, with a transaction amount of 1.938 billion yuan and an average transaction price of 470.01 yuan / share, which was about 7% discounted compared with the closing price of the day of 506.11 yuan / share, that is to say, Jinlei sold some shares at a discount.
The announcement shows that after the change of rights and interests, the proportion of Changchun high-tech shares held by Jin Lei in total dropped from 10.4994% to 8.4997%.
The 21st Century Business Herald reporter found that the shares obtained by Jin Lei originated from the merger and acquisition of Kinsey Pharmaceutical held by Jin Lei and others by Changchun High-tech two years ago.
In November 2019, Changchun Gaoxin issued 23.2617 million shares to Jinlei and 6.6006 million shares to Lin Dianhai, totaling 29.8623 million shares to purchase 29.5% minority stake in Changchun Kinsey Pharmaceutical Co., Ltd. at an issue price of 86.35 yuan per share, and 450 million yuan of convertible bonds to Jinlei to purchase related assets.
On December 16, 2020, the aforementioned acquisition involved the lifting of the restriction on the sale of 15.9711 million shares, accounting for 3.95% of the total share capital of the company.
Among them, Jin Lei's holdings of 12.4409 million shares and Lin Dianhai's holdings of 3.5302 million shares.
(Pictured: Shares held by Jin Lei and Lin Dianhai to lift the ban, source: listed company announcement)
On April 20, 2021, Changchun Gaoxin ushered in another share lifting, with the number of shares lifted to 19.9669 million shares, accounting for 4.9342% of the company's total share capital. Among them, Jin Lei's unbanned shares were 15.5557 million shares, and Lin Dianhai's holdings were 4.414 million shares.
Judging from the time when Jin Lei reduced his shares, it also coincided with this.
On December 16, 2020, after Jin Lei's holding of part of the shares of Changchun High-tech met the conditions for lifting the ban, it began its first reduction on December 22, 2020, reducing its holdings by 791,000 shares, and then reduced some of its shares through block transactions on December 23, 2020, December 31, 2020 and May 20, 2021, respectively.
On May 21, the Changchun High-tech Dragon and Tiger List showed that Shenzhen-Hong Kong Stock Connect sold 436 million yuan, for the first largest seat, the institution sold 198 million yuan, for the sale of the second largest seat, Guosen Securities Shanghai Zhangyang Road Securities Business Department sold 162 million yuan, for the sale of the third largest seat, in addition, the institutional special and Huatai Securities Zhenjiang Branch sold 160 million yuan and 135 million yuan respectively, respectively, sold four and five seats.
<h4>Another leading HGH stock also fell sharply</h4>
From a fundamental point of view, Changchun High-tech achieved operating income of 2.281 billion yuan in the first quarter of 2021, an increase of 37.35% year-on-year; net profit of 875 million yuan, an increase of 61.21% year-on-year.
It is worth noting that another growth hormone leader in A shares, Anke Bio (300009.SZ), also fell sharply today, closing at 16.25 yuan / share, down 13.06%, with a trading volume of nearly 2 billion yuan, a recent high level, with a turnover rate of 10.16%. The first quarter performance of Ankor Bio also showed strong growth, of which growth hormone products are an important part of the growth.
In this regard, some market participants speculate that today's two sharp declines may be related to a document circulated on the public account of the pharmaceutical industry yesterday, which said that Guangdong Province led the 16 provincial alliance with volume procurement, involving 281 varieties, including growth hormone. According to the past law, once the growth hormone enters the collection on a large scale, it may face a situation of price reduction, so the related concept stocks are lower.
In response to the rumors of growth hormone collection, Changchun Gaoxin said that the company did not receive formal written documents and notices related to centralized procurement. According to the "Daily Economic News", for today's stock price fluctuations, the relevant staff of ankor biological securities department said: "It may be due to the fact that there is a document with volume procurement in Guangdong Province today." ”
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