On June 13, Silver Pigeon Investment ushered in a long-lost rise, closing at 4.37 yuan per share, or 2.82%, with a turnover of 82.07 million yuan and a total market value of 7.1 billion yuan.
Just before June 8, the stock price of Silver Pigeon Investment fell sharply on the day of trading. On June 11 and 12, the stock price continued to fall sharply. The three trading days fell to a depth of 23.84%.
For the plunge, Yin Cai Investment also felt quite surprised.
A person close to investing in Silver Pigeons told reporters of the 21st Century Business Herald on June 13: 'The reason for the drop in the stock price is that the company is unaware of it and there is no exact news.'
However, facing the decline in stock prices, Yinge Investment announced on June 12 that its top five executives, including Chairman Gu Qi, have increased their holdings, and plan to increase their holdings in the next six months. The increase in holdings is not low. At 20 million yuan, no more than 40 million yuan.
What is more noteworthy is that, through an indirect purchase of JW Capital Investment Fund LP (JW Fund) with a shareholding of US$125 million, Yinge Investment also eventually became a shareholder of Anshi Semiconductor through this transaction, which officially involved the semiconductor industry investment.
Behind the top executives’ holdings
The collective increase in holdings of Yinge Investment's top five executives is related to the recent fall in stock prices.
The fall of silver pigeon investment began suddenly at 9:44 on June 8.
On that day, the original silver pigeon investment fell between 0.9% and 1%, with a decrease of just 1.43% at 9:43. At 9:44, a single sale of 6.4 million yuan will invest in silver pigeons. The price fell to the daily limit. Although several hundred thousand yuan was billed afterwards and paid for at 14:00 and 42 points in a row for more than 2 million yuan, the silver pigeon investment was still sealed on the daily limit. 59.32 million yuan.
Afterwards, on June 11 and 12, the silver pigeon investment remained low, and on June 11th, it also closed at a lower limit.
On June 13, a Beijing private equity fund reporter told the 21st Century Business Herald: 'On June 8th, the entire market was sluggish, including the Zhihua Zhilian, Nandu power supply, and Mei Shang Ecological's stock collapsed on the same day. As for the silver pigeons' investment stocks, they have small plates and high concentration of chips. Under the premise of a bad environment, less funds may trigger its plunge.
'Exercise's increase in holdings is also to a certain extent in the market to conduct its optimistic view of the company's prospects.' Private equity said the frankly.
With the structural reforms on the supply side, and the promotion of policies such as capacity reduction, the price of paper products rose, the profitability of the paper industry picked up, and the industry started to recover.
In 2017, Yinge’s investment performance turned a profit, and according to its latest revised annual report, the company’s operating revenue for the whole year of 2017 was RMB 2.937 billion, and the net profit attributable to the shareholders of the listed company was RMB 55.5922 million. The cash flow from operating activities was net. The amount of 245 million yuan.
In the two years prior to this, Yinge Investment’s main business performance was weak. In 2015 and 2016, after deducting non-recurring gains and losses, the net profit attributable to shareholders of the company was RMB -294 million, which was -3.92 billion yuan.
While the boom of papermaking industry is picking up, in the near future, Yinge’s capital investment in the market can also be described as frequent, which is accelerating the diversified layout of its industry.
In addition to participating in the acquisition of a hot chip company - Anshi Semiconductor's equity, but also cross-border to acquire financial assets - Mingya Insurance Brokers Co., Ltd. controlling rights.
“This acquisition of Mingya Insurance Brokers is an important city for diversified transformation and investment of Yinge Investment. Yinge Investment is expected to complete the acquisition and integration of resources through the acquisition of Mingya Insurance Brokers, which will lay a solid foundation for the future diversified development of listed companies. The foundation. 'The above-mentioned person close to the silver pigeon investment said.
Involvement in national strategy
In the recent diversified layout of Yinge Investment, the most noticeable one is apparently its involvement in the acquisition of Ansi Semiconductor.
According to the latest announcement by Yinge Investment, the company participating in the investment has won the bid for the JW fund's $125 million limited partnership on May 4 (this share took up 6% of Anshi Semiconductor’s original share), and the bid price was US$165 million. On May 8th, Youpin Company established a share of Shang Heng’s transfer target and paid a deposit of 25 million US dollars for the transfer price. As of June 11, Shang Heng Company paid the remaining USD 140 million transfer price and the transaction settlement was completed.
However, the 21st Century Business Herald reporter found that this part of the transfer price was not entirely borne by Silver Pigeon Investment.
Shan Heng Company, which acquired the JW Fund’s $125 million limited partnership, was awarded to Youpin, which was jointly initiated by the former Bank International and Shengzhao Industrial. The three ordinary shares held 33.33% of the shares. At the same time, two matching devices were introduced at the time of payment. Capital, Distribution Party 1 paid HK$800 million, and Party 2 paid HK$150 million, totaling approximately US$121 million, both of which were preferred shares. On this basis, the price of US$165 million was mainly paid by the distribution party. The remaining 44 million U.S. dollars will be shared by the three ordinary shareholders.
Yinge Investment said that as of June 11th, the company actually paid RMB 108 million. According to the company’s investment in superior products company and Shangheng Co., Ltd.’s shareholding percentage and capital contribution, the company will hold up to 2% of Anshi Semiconductor after completion of the transaction. The original share of the equity.
Ansemi Semiconductors can be described as a 'high-quality fat' in the semiconductor industry. In addition to the silver pigeon investment, other listed companies are also 'grilled'.
Previously, there was public information that Wentai Technology (600745.SH) consortium received 70% of the investment share of Anshi Semiconductor held by Hefei Core Screen Industry Investment Fund (Limited Partnership) for a price of 11.435 billion yuan. Since then, a number of companies plan to increase capital for Hefei Zhongwen Jintai Semiconductor Investment Co., Ltd., a wholly-owned company of Wentai Technology, in order to participate in the acquisition of Ansi Semiconductor through this method.
According to public information, Ansemi is also known as Nexperia. It was originally a standard product business of Dutch semiconductor giant NXP. It has the characteristics of scarce resources, excellent technology, and strong profitability. Nexperia achieved annual sales in 2017 when it was just established. With over 1.4 billion U.S. dollars, the impressive global market share of 13.4% has attracted the capital market.
The above-mentioned person who is close to the investment of Silver Pigeon told the reporter of the 21st Century Business Herald: 'We have the privilege of participating in the development of the national strategy. There are still closing works in the acquisition, and the resolutions of the Board of Directors and the shareholders' meeting of the Hong Kong company Yu Cheng Holdings of Hong Kong Company have been passed. Maybe get a board seat.'