Two weeks ago, the valuation just suffered music Watch, once again suffered a valuation cut.
Yesterday, E Fund, Castrol, China Post and many other heavy positions Music Fund announced that it will further reduce the valuation of Music Watch, a 50% cut, the current valuation of music only 3.91 yuan / share, only the peak of the remaining one to make.
A number of funds once again lower valuation
Yesterday, E Fund Fund announced that since November 14, 2017, E Fund Management Co., Ltd. of its securities investment funds (Exchange-traded open-end index securities investment funds held by the 'Music Watch' according to 3.91 yuan assessment value.
Harvest Fund Management Co., Ltd. and Fortune Trust Fund also announced that, in consultation with the fund custodian, effective November 14, 2017 on its securities investment funds held by the 'music Watch' stock revaluation, according to its 2017 October 27 revaluation of 7.82 yuan down 50% of the price, or 3.91 yuan for valuation.
At the same time, China Post Fund, the same valuation of music video stock 'cut' adjustment, the valuation price adjusted to 3.92 yuan / share.
This may be investors pledged commitment to the commitment of Jiayue Ting, but often pessimistic about the pessimistic reaction November 10, Jia Yunting in "my interest-free borrowing and listed companies commitments reply," said that as the second half of 2016, Music Unlisted system and I have a financial crisis, the first half of 2017, the financial crisis continued to worsen, have been all the proceeds of the reduction of funds used in the unlisted system and I am involved in debt service, the current has been unable to continue interest-free borrowing to The promises of listed companies are also unable to fulfill their commitments to increase the shares of listed companies.
From the announcement, LeTV has twice reminded Jiayue Ting and his sister Jia Yuefang that they should continue to honor their loan commitments. For Jia Younting's reply, LeTV said the board of directors believes that Jia Youting and Jia Yuefang are unable to continue due to personal funds and liabilities Borrowing commitment, and at present, no new commitment has been put forward to replace the original commitment. Therefore, it has already violated its commitment of making loans.
Investors also face the risk of liquidation
Two weeks ago, in the valuation of 7.83, 7.82 yuan given by China Post and Harvest, the music stock price was once again cut, if calculated in accordance with the continued decline, equivalent to 6 and a half limit .Recently, Shigekura music fund net value also appeared Fell yesterday, the Shanghai Composite Index fell 0.79%, China Post, Castrol and many other net fund funds fell 2% to 5%. April 17, 2017 LeTV suspended, the suspension before the April 14 price of 30.68 yuan (10 Send 10 plus dividend equivalent to 15.33 yuan), according to the current price of 3.91 yuan / share, the music video stock prices have dropped 75%, if you count continuously lower limit, the suspension so far the agency has given 13 lower limit.
LeTV was a star stock in the GEM. The suspension price of LeTV shares was 15.33 yuan per share, with a total market capitalization of about 61.1 billion yuan. Previously, the market value of LeTV exceeded 160 billion yuan.
At present, according to the fund's valuation of only 3.91 yuan, the fund valuation corresponding to the total market capitalization of only 15.6 billion yuan, compared to the music industry's historic market capitalization of the highest value of 90% less.
For investors, the current music Watch situation is quite bad, once the resumption of trading, the stock appears avalanche continuous limit has been a high probability event.Letvision shareholders pledged stock valuation fell below the pledge price, will face the risk of all liquidation .