In fact, many times, the same operation, the same thing, but due to some subtle changes, the nature of the entire event is very different, and the consequences are also very different.
Let’s just talk about Lu Ming’s operation of letting Team Guo Jia cash out this time. If another listed company and another owner did the same thing, what would it be called? This is called illegal profit transfer, hollowing out the company and enriching the major shareholders.
It was found out that the people involved were arrested immediately.
Nothing wrong!
But for Lu Ming, this is called providing liquidity to the country during the difficult stage of economic downturn. The money is used to stabilize the economy, promote new infrastructure, and provide help to revitalize the economy.
Nothing wrong!
When the economy is under pressure, infrastructure construction is an old traditional skill, because only in this way can the economy be revitalized in a short period of time. Other than that, it is difficult to build the economy in a short period of time.
Lu Ming actually agrees with this point. The country is so big, it must stabilize the economy and maintain growth as much as possible.
When the general environment went downhill, some so-called economists began to say that it didn't matter if the growth rate slowed down. To put it bluntly, it meant lying flat and spreading out, and standing up to talk without pain in the back.
The economic downturn and growth slowdown have a great impact on the income of economists, so it is natural to stand up and talk without pain in the back.
As everyone knows, an economic downturn or growth slowdown, even by 0.1 percentage point, in the face of such a big problem for the country as a whole, means that tens of thousands of people are unemployed and unable to find a job. The general public can't even pay their monthly mortgage payments, and their lives are miserable.
difficult?
…
In the chairman's office, Lu Ming browsed the materials.
According to the material report sent by Xue Zhongming, Guo Jia team's institutions cashed out a total of 2.28 trillion yuan from Tiansheng Holdings in the secondary market this time, which is undoubtedly an astronomical figure.
In the last ten trading days of Tiansheng Holdings, the cumulative trading volume of the stock reached an unprecedented 3.49 trillion yuan. During the craziest period, the daily trading volume exceeded 400 billion for four consecutive days.
Lu Ming's operation used 2 trillion yuan to mobilize an additional liquidity of nearly 1.5 trillion yuan, allowing Team Guo Jia to easily cash out 2.28 trillion yuan, which already exceeded the 2 trillion yuan in repurchase funds.
If the 2 trillion yuan in repurchase funds are used as cash dividends, the entire Guo Jia team organization can only receive 500 to 600 billion yuan in proportion to its equity. Such an operation directly reaches 2.28 trillion yuan.
At the same time, while Guo Jia team obtained huge amounts of liquidity, private capital was locked in Tiansheng Holdings on a large scale. In a sense, it also prevented such a huge amount of funds from entering the property market for house speculation.
Because the funds that can participate in investing in Tiansheng Holdings are all institutional investors, including large funds, trusts, financial management, etc.
These institutions usually give priority to inflowing funds into the property market.
Although in the stock market, if you buy something today, you can sell it tomorrow, but in other words, the funds participating in Tiansheng Holdings are not operated by retail investors. Generally, they will not get out easily after they come in, and they will not get out easily if they are trapped, because your company
The fundamentals and logic have not changed. These funds will not escape and can be held on better than retail investors.
This is also the reason why Lu Ming did not split the shares of Tiansheng Holdings. The company's future stock price and the price of a single share will only get higher and higher.
The high stock price will continuously push up the buying threshold, allowing true long-term investors to become investors in Tiansheng Holdings.
Those institutional funds often come from the private sector, such as some closed-end public funds. These institutions first raise a large amount of money from the public, and there is a lock-in period, usually one to a year or even longer.
Because there is a lock-up period, the investors can't get out of the funds after buying them, so these funds don't have to sell stocks to cash out in order to redeem funds for the investors.
What Tiansheng Holdings needs now is this type of institutional investors.
The current stock price, not to mention retail investors, is no longer affordable for ordinary public funds. Tiansheng Holdings cannot afford a plate of less than 300 million yuan, because buying one lot costs more than 30 million yuan, which is more than 30 million yuan.
10% of the total fund size directly exceeds the limit.
At present, the number of institutions held by Tiansheng Holdings experienced a surge last year to reach tens of thousands of institutions, and has continued to decline in recent years. In addition to being scared away by bad news and panic, part of it is because the fund "exceeded the limit"
“Had to sell Tiansheng Holdings.
According to the latest shareholder data of Tiansheng Holdings, the number of institutional holders has dropped significantly to 7,600, and retail shareholders in this stock are almost extinct.
In the short term in the future, the number of institutional holders of Tiansheng Holdings will hardly exceed 10,000.
Data shows that there are still more than 200 "dormant" shareholders, that is, those who held Wendi shares before Tiansheng Capital's backdoor listing of "Wendi Shares" and forgot that they still held the votes have deleted all stock trading software.
, who have focused their energy on life and other areas and no longer care about the stock market. They are investors who have not canceled their securities accounts but have actually delisted.
If they know that they own Tiansheng's stock, few people can hold it, because this stock has experienced high volatility several times in the past few years since it was listed, and the various negative consequences are also very scary.
It's hard to bear it.
Among retail investors who bought stocks through debt-for-equity swaps, 70% have now sold them at the beginning of this year. Selling means that they will never be able to do so again.
But at this moment, Lu Ming put the materials aside after reading them, then picked up his landline phone and called his assistant Han Qiulin's office, and ordered: "Disclose the company's repurchase plan!"
…
At around 17:30 in the afternoon, Tiansheng Capital issued a repurchase announcement, which was also the last repurchase announcement.
According to the announcement, Tiansheng Capital completed a 190 billion yuan repurchase plan yesterday, repurchasing 603,100 shares at an average repurchase price of 315,000 yuan. After the repurchased shares were cancelled, the company's total share capital dropped to 72.9483 million shares.
At the same time, it was also announced in the announcement that the 2 trillion repurchase plan was successfully completed. 2 trillion was spent for nine consecutive trading days, and the total number of shares repurchased was 7.0517 million shares, accounting for 8.814% of the company’s total share capital before the repurchase. This time
All shares repurchased will be cancelled.
As soon as the announcement came out, major market software updated various data of Tiansheng Holdings, and the market value was adjusted from the previous 21.96 trillion yuan to 21.78 trillion yuan.
After the repurchased shares were cancelled, the shares held by existing shareholders also increased their equity proportions accordingly. Lu Ming now holds 39.6 million shares in his name. He is the company's largest shareholder and the actual controller. Before the repurchase,
The equity ratio is 49.5%. After the completion of this round of repurchase plan, Lu Ming's equity ratio has also increased to 54.285%, and he personally holds more than half of the equity ratio.
As soon as the announcement came out, the market was not calm.
Although Shock and Tiansheng Capital have created an unprecedented scale of buybacks for listed companies in the history of A-shares, capital is never satisfied.
Buybacks have come to an abrupt end, what will be used to promote the market outlook?
As soon as Tiansheng Capital's announcement came out, the repurchase plan was completed and announced, which means that the market's strong expectations have ended, and the good news will be realized, but it will actually be negative for the short-term trend of the A-share market.
He suddenly announced that he would stop breastfeeding!
And there is also a big negative, that is, Zhongxin International will be listed on the Science and Technology Innovation Board tomorrow, Thursday, July 16th, and the IPO fund-raising scale will exceed 50 billion. One side announced that it is weaning off the milk, and the other side is going to
Large-scale blood draws also fell below the platform on a technical level.
In an instant, the market will come under pressure.
…
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