The 300 billion giant was wildly cashed out nearly 2.9 billion by shareholders! 620000 shareholders in a panic

On the evening of February 1, Dongfang fortune announced that Shen Yougen, the controlling shareholder acting in concert, had reduced his holding of 1.24% of the company’s shares, with an average price of 26.95 yuan per share and a total amount of 2.883 billion yuan.

The 300 billion giant was wildly cashed out nearly 2.9 billion by shareholders! 620000 shareholders in a panic

As of the close of the day, Dongfang fortune rose 1.93% to 35.88 yuan / share, with a total market value of over 300 billion yuan.

 

As of September 30, 2020, there are still more than 620000 shareholders.

 

Major shareholders have reduced their holdings by about 107 million shares

 

Cash out of reduced holdings of nearly 2.9 billion yuan

 

On the evening of February 1, Dongfang fortune announced that Shen Yougen, the controlling shareholder acting in concert, had reduced his holding of 1.24% of the company’s shares, with an average price of 26.95 yuan per share and a total amount of 2.883 billion yuan.

 

Up to now, Mr. Shen Yougen’s share reduction plan has been completed, with a cumulative reduction of 106984773 shares, accounting for 1.24% of the total share capital of the company. Mr. Shen Yougen’s announcement on the implementation of the share reduction plan is as follows:

The 300 billion giant was wildly cashed out nearly 2.9 billion by shareholders! 620000 shareholders in a panic

Before the reduction, Shen Yougen held 2.52% of the total share capital, and after the reduction, he held 1.27% of the total share capital.

 

As of the third quarterly report of 2020, Shen Yougen is still the third largest shareholder of Dongfang fortune.

 

Previously, Shen Yougen had cashed out 4.3 billion yuan

 

Share price soared 173% in the past year

 

Shen Yougen is the father of Shen Jun, the founder of Oriental Fortune (later renamed as “actually”), which is not his first major reduction.

 

On July 9, last year, Dongfang fortune announced that the consistency of the controlling shareholder moved Shen Yougen’s plan to reduce his holding of no more than 161 million shares, that is, no more than 2% of the total share capital. According to the closing price of the day (27.16 yuan), if Shen Yougen completes the reduction plan, he will cash out more than 4.3 billion yuan. Affected by this, Dongfang fortune’s share price fell by more than 5.6% at the opening of the next day, with a single day evaporation market value of 12.333 billion yuan.

 

Shen Yougen, who has held shares for 12 years, suddenly put out a plan to reduce his shares, which may be closely related to the share price of Oriental Fortune. Dongfang wealth, with a market value of over 300 billion yuan, has always been regarded as the leader and vane of the bull market. Since June last year, Dongfang fortune’s share price has soared, reaching a record high of 40.57 yuan / share on January 25 this year. Since the beginning of last year, Dongfang fortune’s share price has risen by more than 173%.

 

In December 2008, Shen Jun transferred 4.8 million shares to Shen Yougen at a total price of 144000 yuan, equivalent to 0.03 yuan per share. Since then, Shen Yougen has been holding shares for many times. By the end of the first quarter of 2020, the number of shares held by Shen Yougen has increased to 181 million shares. Based on the latest closing price, the corresponding total market value has reached 4.639 billion yuan. In addition, Lu Lili, Shen Yougen’s wife, holds 177 million shares of Dongfang fortune. In fact (Shen Jun) holds 1.477 billion shares. The total market value of the three shares has reached 47.031 billion yuan.

 

Double the net profit!

 

Net profit increased by 146% – 168% year on year

 

On January 22, Dongfang fortune released a performance forecast, saying that the company expects to achieve a net profit attributable to shareholders of listed companies of 4.5-4.9 billion yuan in 2020, with a year-on-year growth of 145.73% – 167.57%.

 

As for the reasons for the substantial increase in performance, the announcement said that in 2020, the volume of stock transactions in the domestic securities market increased significantly year-on-year, so did the volume of stock transactions in the company’s securities business, and the income related to securities business.

 

In addition, in 2020, the fund transaction volume of the company’s Internet financial e-commerce platform increased significantly year on year, and the revenue of financial e-commerce service business increased significantly year on year.

 

Wanlian Securities believes that since 2020, market transactions have improved significantly year-on-year, the company’s securities business has expanded significantly, and the structure of fund consignment business has been optimized, which will bring high performance flexibility. Due to the growth of securities business and the gradual emergence of the company’s scale effect, combined with the flow effect brought by the company’s Internet platform, the company’s gross profit rate will rise steadily.

One thought on “The 300 billion giant was wildly cashed out nearly 2.9 billion by shareholders! 620000 shareholders in a panic

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