Music Watch did not wait until the legendary 13 daily limit.
On the 12th trading day after the resumption of trading, Music Daily's daily limit was finally put on hold on February 8. On the day after the close of the deal, LeTV announced that its turnover was 29.06% on the day, while that of LeTV exceeded 4 billion However, what needs to be mentioned is that three public funds such as China Post and Niu Sanzhang Jianping held the same music stocks were also lifted the same day.
February 9, Music Watch opened lower limit, then open the plate turmoil. Intraday stock price once pulled to 4.92 yuan, limit down again in the abrupt end of the huge transaction funds, who is in the bargain-hunting, who are dumped goods? Sun Hongbin, chairman of whether to turn the tide, while the silent shareholders will be how to face their own risk of liquidation?
More than 4 billion transactions
LeTV network in February 8 almost staged heaven board.
On February 8, LeTV opened at a price of $ 4.34, which is equivalent to the 12th lower limit since the resumption of trading, but the next few minutes, the big bill raged to 9:35, hundreds of millions of dollars Pay finally music daily limit to open.
Music Watch's share price also will turn red. During this time rose to 5.28 yuan, an increase of 9.54%, from the daily limit price difference of only 2 cents. As of February 8 closing, the music network's stock price dropped to 5.08 yuan, compared with the previous Trading day up 5.39%.
It should be mentioned that LeTV's turnover of more than 4 billion yuan on February 8 is 10 times the turnover of the previous day.
According to "China Times" reporter learned that on February 7, 400 million yuan fund tried to pry music limited daily limit, but failed. As of February 7 closing, LeTV transactions amounted to 396 million yuan, the turnover rate 2.93% .7 February 17, the daily limit still optimistic about more than 4.6 million hand seal. To the closing price of 4.82 yuan a day rough calculation, the corresponding amount of more than 2.2 billion.
The turnover of 4 billion yuan is eight times the total turnover of the 11 trading days after the resumption of trading of the music video network.
Statistics show that as of February 7, LeTV net resume 11 trading days in the cumulative turnover of 9528 shares of stock, the cumulative turnover of 513 million yuan of which, February 7, the turnover of about the equivalent of these 11 days Bacheng total turnover.
The big reversal of the music video staged on February 8 is completely different from the one after the resumption of trading.
On January 24, LeTV dropped its limit since the resumption of trading as of February 7. As of February 7, LeTV has been listed for a continuous 11-word limit, and LeTV shares dropped as high as RMB4.82 / share from RMB15.33 / share before resumption of trading, 68.55% .As of February 7, LeTV market value of only 19.2 billion yuan left, compared with 612 billion yuan at the beginning of the complex has evaporated 420 billion, down more than 68%.
Who is trading
Suddenly 4 billion huge amounts of money, who is sweeping goods?
Top Charts show on the 8th LeTV buy the first five seats to buy a total of 340 million yuan.Among them, buy one for the securities department of Texas thirty-eight Middle Road Sales Department, bought 136000000 yuan.The remaining four seats to buy the amount Are in the tens of millions of yuan level.
On the same day, LeTV sold a total of 553 million yuan in the first five seats, of which two agencies sold a total of nearly 210 million yuan, while the largest selling amount was GF Securities Shenzhen Shennan East Road Sales Department, sold in the amount of 132 million yuan.
Insiders told the "China Times" reporter said the first five seats to sell and buy the first five seats in the gap, showing strong desire to flee part of the funds.He said it is not good to judge which agency is sold, but can Seeing that there are funds in the shipment, he also believes that nearly 4 billion yuan trading volume on February 7 is a test of volume. 'At present the agency to ship the main, did not appear to focus on a single sweep of goods sweep seats. And retail investors act as disk players in the music video, "he said.
February 7 list data show that the day the top five seats LeTV bought a total of 38.2 million yuan, of which the largest amount of the purchase of Orient Securities Hangzhou Longjing Road, securities business department bought 14.47 million yuan, the corresponding transaction volume of about 30,000 Hand, accounting for only 3.65% of the total turnover.
It is noteworthy that, GF Securities Shenzhen Shennan Road business department appeared on February 7 in the music network to sell three seats, sold 46,207,600 yuan while the two days sold a total of 178 million yuan, a rough calculation Two days sold a total of about 40 million shares.
LeTV net third-quarter earnings report in 2017, in addition to its own shareholders holding more than 40 million shares of Jia Yunting, including the shares were frozen Liu, Jia Yuemin and unlimited Cao Yong and Niu Sanzhang Jianping, but Zhang Jianping holds shares in the February 8 lifted.
According to the reporter of Huaxia Times, Cao Yong, the founder of Flower Film and Television, is the fourth largest shareholder of LeTV, and since 2013, when LeTV bought Flowers and Television, Cao Yong won a cash consideration of 256.5 million yuan and 20.24 million shares of LeTV, 76.95 million calculation, the return on investment was about 144 times.
In addition, on February 8 in the Billboard positions in the sale of Haitong Securities Co., Ltd. Shanghai Jianguo West Securities Sales Department sold about 24 million shares sold for 116 million yuan outsiders that meet the conditions or for Zhang Jianping There is also news that the above-mentioned Dongfang Securities Hangzhou Longjing Road Sales Department is also one of Zhang Jianping's seat.
Set by lifting the ban
Shares of Music Watch held by Zhang Jianping were banned on the same day as February 8, while shares of Music Watch held by China Post Fund, Harvest Fund and Fortune Trust Fund were lifted on the same day.
LeTV net announced on February 6, the four shareholders apply for the lifting of shares, the total number of securities accounts for 94, accounting for 5.35% of the total share capital of the company, the actual tradable shares of 213 million shares, accounting for 5.35% of the total share capital of the company, The date of listing and circulation is February 8, 2018. LeTV also reminded in the announcement that after the listing of restricted shares, there is a risk of concentration selling and hence stock price.
The four shareholders participated in the music video net increase in August 2016. According to the reporter of Huaxia Times, the fixed price at that time was 45 yuan, which was equivalent to 22.5 yuan per share after the next ten shares were ten ex-rights. Music Watch February 8 closing price of roughly calculated, 22.5 yuan is 4.4 times the current share price.
Among them, China Post Fund holds the most shares of Lotte among the top ten shareholders of Music Watch, and the two funds under China Post rank No. 8 and No. 9 shareholders respectively, Holds 1.52% of the shares.In addition, Zhang Jianping 1.25% stake in the music network ranked seventh largest shareholder.
However, investors who participated in the increase before the crisis of the music capital chain crisis have been stuck in an in-depth manner. With a rough calculation of 5.08 yuan, both China Post Fund and Harvest Fund, which hold 42.657 million shares, floated a deficit of 743 million yuan. 78.2 million shares of the Finance Fund, floating losses of 1.36 billion yuan while holding about 49.767 million shares of Zhang Jianping, the floating deficit of 860 million yuan.
In November 2017, the funds holding music videos of China Post, Harvest, Hua An and ICBC Credit Suisse adjusted the valuation of LeTV one by one, of which, China Post Capital Fund valued LeTV as $ 3.92 while Harvest, Hua An, ICBC Credit Suisse Fund gives a valuation of 3.91 yuan, according to the music before the suspension 15.33 yuan Watch price point of view, the price means that the 13 limit.
The industry believes that the current music video stock price has been close to the bargain-hunting psychological outside the world, but if there is a concentration of capital outflows, Music Watch's daily limit will continue.
Major shareholders are facing changes?
On February 8, the big shareholder and the second shareholder of LeTV remained silent on the big reversal of LeTV.
LeTV notice said, confirmed by the company, the company holds more than 5% of the shareholders in the abnormal stock trading during the period of the company's shares are not traded.LetTV third quarter 2017 earnings report, more than 5% of its shareholders only the majority shareholder Jiayue Ting and two Shareholders Jia Rui Huixin.
Jiayue Ting and LeTV Holdings have been unable to invest.
On the evening of February 7, LeTV announced that it had received a "Notice" from CSIC and announced that its first phase of employee stock rights termination was early terminated.
Announcement shows that the first phase of employee stock ownership plan transaction amount of about 510 million yuan, the average transaction price of 46.61 yuan in. After ten get ten, the cumulative holdings of 21,970,000 shares of the company. On January 25, 2018, China Resources Shenzhen Investment Holdings sent to the "Additional Funds Notification" said that due to the employee stock ownership plan has triggered an early warning and underwriting mechanism, LeTV Holdings should perform additional financial obligations, but LeTV did not respond.
LeTV also frequently mentioned in the announcement that there is a risk that the actual controller of the company may change.
Announcement shows that as of now, Jiayue Ting holds 25.67% stake in LeTV, of which 99.5% have been pledged to financial institutions, and all the shares have been frozen in Beijing Third Intermediate People's Court and other judiciaries.LeTV said that the ownership of Jiayue Ting The pledges have the risk of being disposed of by the relevant institutions due to the failure of timely collateralization, which may result in the change of the actual controller of the company.
On January 31, LeTV announced that it expected a huge loss of 11.6 billion yuan in 2017.
The new hopes were pinned on Sun Hongbin, but Sun Hongbin told us that his position on the 23 January was different from what he used to say when he said that sometimes people dare to call the sun and the moon to exchange new days, and sometimes they may want to lose. At the time, he also said that for the Connected Entertainment transactions, but mistakenly sentenced the related party owed to the listed company's debt can not be effectively repay the same day LeTV also said that Sunac China has not expressed any intention to further holdings of the company.
However, many insiders told the "China Times" reporter that LeTV's shell is still valuable, Sun Hongbin will not give up.