Tiansheng Capital released the 2018 annual equity distribution implementation announcement. The company’s annual equity distribution plan is:
[A cash dividend of RMB 37,500 (tax included) is distributed for every 10 shares. Based on the first-in, first-out principle, the holding period is calculated based on the investor’s securities account. If the holding period is within 1 month (including 1 month), every 10 shares will be distributed.
The back tax is RMB 7,500; if the shares are held for more than one month and for one year (including one year), the back tax is RMB 3,750 for every 10 shares. If the shares are held for more than one year, there is no need to pay back taxes.]
[The equity registration date is January 3, 2019; the ex-rights (dividend) date is January 4, 2019, and the cash dividend payment date is January 4, 2019.]
[This profit distribution plan was reviewed and approved by the company’s board of directors on December 3, 2018.]
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As soon as the announcement came out, various institutions and investors gathered to watch, and the comment areas under Tiansheng Holdings in stock forums or major market software became extremely popular.
"6666, the stock king was shocked by this dividend."
"The boss is awesome! Brother Yi is awesome!"
"The dividend is 37,500 for every 10 shares. How much is the total dividend? Three hundred billion?"
"Damn it, Brother Yi originally promised that the dividends this year would be no less than 200 billion, but he never expected that he would get an extra 100 billion!"
"As expected of the king of stocks, who among the most conscientious listed companies in Big A dares to refute?"
"It's 300 billion in one move. Tiansheng Capital's ability to make money is so terrifying. Did Brother Yi secretly invent a nuclear-powered money printing machine... [face covering]"
"It's a mess. The dividend per share is 3,750 yuan, which is higher than my monthly salary!"
“When I went public via backdoor, I gritted my teeth and could afford it first hand. I was jealous and angry.”
"So, it is not unreasonable for the stock king to price more than 40,000 yuan per share. The market value of 3 trillion yuan is really not overvalued."
"Damn, I told you why there was a rush to raise money at Scumbag Securities at the end of the day today. It's probably because they had the funds to know the news in advance. That's so stupid!"
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After Tiansheng Capital’s latest announcement was released, it quickly appeared in the most prominent position in major market information. Stock forums, communication groups, and stock review influencers were all discussing this matter.
It is painful for many investors, especially the so-called value investors. They know that Tiansheng Holdings is a gold-level price investment target, but facing the current stock price of the king, it is already out of reach.
More than four million, not to mention that most retail investors with account funds of tens of thousands or hundreds of thousands cannot afford it. Now even a large number of public funds cannot afford it.
There are a lot of public funds on the market worth more than 20 million yuan and more than 30 million yuan. These public funds are now unaffordable because there are regulations for public funds that stipulate that a single stock held by a fund must not exceed the net value of the fund.
10%, Tiansheng Holdings now has more than 4 million in one hand, which has exceeded the 10% ratio stipulated by these funds.
At present, the number of institutions holding Tiansheng Holdings exceeds 4,762, making it the stock with the largest number of institutions held by institutions in the two major cities. Among them, more than 3,100 institutions hold 100 shares, which is one lot.
There are more than 200 institutions that hold even less than 1 lot, including 50 shares, 80 shares, and 30 shares. The lowest institution even only has 22 shares. Several equity distribution plans of Tiansheng Holdings did not give out shares.
Cash dividends are directly discovered, so these holding institutions with less than 1 lot are obviously completed through debt-for-equity swaps.
It is worth mentioning that dividend resolutions of listed companies are generally voted on by the shareholders’ meeting, but Tiansheng Capital’s articles of association and shareholders’ agreement stipulate that this power is delegated to the board of directors.
Shareholders' meetings are generally held once a year, while the board of directors can theoretically hold meetings every day.
In addition, this announcement also disclosed the current top ten shareholders of Tiansheng Capital. Lu Ming is the largest shareholder and the only individual among the top ten shareholders. The other nine shareholders are institutions, namely:
The National Social Security Fund 103 Portfolio holds 1.8828 million shares and will receive a dividend of approximately 7 billion yuan this time; Wanxiang Investment Group Co., Ltd. holds 1.7113 million shares and will receive a dividend of approximately 6.4 billion yuan; Chaoyun Trust Fund holds 1.5969 million shares and will receive a dividend of approximately 6.4 billion yuan.
5.98 billion yuan;
Ningzhou State-owned Capital Operation Co., Ltd. holds 1.58 million shares, with a dividend of approximately 5.92 billion yuan; Xiangjiang Zhongyang Clearing Co., Ltd. (foreign capital) holds 1.5733 million shares, with a dividend of approximately 5.89 billion yuan; Huijin Asset Management Co., Ltd. holds 155.63
million shares, with a dividend of approximately 5.83 billion yuan; Securities Finance Co., Ltd. holds 1.4932 million shares, with a dividend of approximately 5.59 billion yuan;
The tenth largest shareholder is Tiansheng Value Growth Hybrid Securities Investment Fund, which holds 361,100 shares and received a dividend of approximately 1.35 billion yuan this time.
This list shows that the top ten shareholders, Guo Jiaqiu, account for half of the country, and they have generally increased their holdings over the years, indicating that their shareholdings have become more concentrated.
To say that foreign investors were the most aggressive in increasing their holdings, they were almost eliminated by Lu Ming because of a move by Lu Ming. Later, they had to continue to increase their holdings, and now the market value of their holdings has soared to as much as 65 billion.
It is also worth mentioning that all institutions among the top ten shareholders have more or less increased their holdings. Only Tiansheng Value Growth Hybrid Fund holds shares of Tiansheng Holdings that are constantly reducing their holdings. From the backdoor listing,
I held 1,011,200 shares a while ago, but now I have 361,100 shares left.
And no surprise, as long as the share price of Tiansheng Holdings continues to rise in the future, Tiansheng Value Growth Hybrid Fund will definitely further passively reduce its holdings. The reason for the reduction is that the fund has exceeded its passive limit.
Regulatory authorities have a restriction on the investment in a single stock of public funds that "should not exceed 10% of the net value." According to regulations, if the stocks exceeding the limit have liquidity, they must complete the reduction of positions within 20 trading days.
It is because of this regulation that Tiansheng Value Growth Hybrid Fund has reduced its holdings from one million shares to the current 361,100 shares. It also reduced its holdings last week because the total net value of the fund has dropped to about 150 billion.
The reason for the decline is naturally that the Fund is selling and passively reducing its holdings. At present, this fund is still suspended for subscription and open for redemption, which means that the Fund can sell at any time, but cannot buy after selling. Lu Ming does not
No plans to open subscription.
The market situation this year is indeed very bad. Even though they can only get out but not get in, many investors still choose to cash out and leave the market after one year. The decline in the size of the fund will naturally lead to passive reduction of positions in Tiansheng Holdings.
It is worth mentioning that all the investors who cashed out and left the market made money. The difference lies in the issue of making more and less, because they were all bought a year ago and there was no development of subscriptions in the middle.
If there were no regulations on over-limit reduction of positions, "Tiansheng Enchantress" would have held Tiansheng Holdings alone from the 1,011,200 shares it initially held to this day, with a market value of as high as 41.1 billion. A single stock
Accounting for 27.4% of the fund's net value, it has exceeded the limit by 17.4%.
Not only "Tiansheng Enchantress" is reducing its holdings, other public funds are also more or less passively exceeding the limit and reducing their holdings. The overall fund size has not increased much, and some are even falling. However, Tiansheng Holdings has bucked the trend and surged this year.
, those public funds will inevitably exceed the limit.
In fact, the fund manager did not want to sell, but he had to sell after exceeding the limit and passively reducing positions. Who made the sales volume of the fund not increase, and the overall size of the fund even shrank? It is precisely because other funds exceeded the limit and passively reduced their positions that other public funds had new chips.
Next, the most intuitive manifestation is that the number of institutions holding Tiansheng Holdings is soaring.
