The controlling shareholder of another listed company was investigated!
On the 21st, Henan Senyuan Electric Co.Ltd(002358) (002358) announced that the company received a notice from Henan Senyuan Group Co., Ltd., the controlling shareholder of the company, and learned that Senyuan group had recently received the notice of filing a case issued by the CSRC. Because Senyuan group was suspected of manipulating the securities market, according to the securities law of the people’s Republic of China, the administrative punishment law of the people’s Republic of China and other laws and regulations, The CSRC decided to file a case against him.
The actual controller of Henan Senyuan Group Co., Ltd. is Chu Jinfu. In 2018, Chu Jinfu was elected the “richest man in Xuchang” with a value of 9.5 billion yuan.
was “blackmailed” by the State Grid for bribery
At the end of 2019, the State Grid Corporation of China issued a notification list on the bad behavior of suppliers, all of which were enterprises with serious quality problems, dishonesty in performance and other serious problems. A total of 320 suppliers were listed. Except for a few points deducted from bid evaluation and suspension of bid winning capital, most of them were blacklisted, ranging from a few months to two or three years, The most serious are permanently blacklisted.
In this list, China Xd Electric Co.Ltd(601179) , Senyuan electric, Changgao Electric Group Co.Ltd(002452) , BOE and other listed companies are impressively listed, all of which are implicated in criminal sentences for bribery.
In June 2019, a criminal judgment on the State Grid showed that song Gao, the former assistant director of the high voltage Research Institute of China Electric Power Research Institute and director of the switching technology research office and expert of the comprehensive bid evaluation expert database of the State Grid Corporation of China, was sentenced to six years for bribery, involving an amount of more than 7 million yuan.
China Electric Power Research Institute is a scientific research unit directly under the State Grid and a wholly-owned subsidiary. The State Grid bid evaluation expert database was established in early 2012. Song Gao participated in the bidding activities of the State Grid as a bid evaluation expert.
Song Gao directly received the bid winning benefit fees from 11 enterprises from 2008 to 2014. The larger amount is the three subsidiaries of China Xd Electric Co.Ltd(601179) group.
The second is Senyuan electric. From 2012 to March 2014, Wang Yunkun, the head of Henan Senyuan Electric Co.Ltd(002358) Beijing office, thanked song Gao for his help in the bidding activities. He sent three times, including 150000 yuan in cash, one piece of jade (worth 66000 yuan) and two gold bars (worth 338200 yuan), with a total amount of 554200 yuan.
former photovoltaic Bull Stock
performance changed and share price plunged 96%
Who would have thought that Henan Senyuan Electric Co.Ltd(002358) could not be blown with the back against the two tuyeres of photovoltaic + new energy.
On January 29, Henan Senyuan Electric Co.Ltd(002358) released the performance forecast. The company expects the net profit attributable to the shareholders of the listed company from January to December 2021 to be – 480 million to – 400 million, with a year-on-year change of 51.44% to 59.54%.
This is Henan Senyuan Electric Co.Ltd(002358) the second consecutive year of net profit loss.
In fact, as early as 2018, Henan Senyuan Electric Co.Ltd(002358) started the performance decline mode.
Senyuan electric landed on the small and medium-sized board in 2010, mainly engaged in the business of high and low voltage complete sets of equipment and high-voltage components. For more than three years after listing, it has been unknown.
Until October 2013, the company set foot in the new energy business through the acquisition of Zhengzhou Senyuan New Energy Technology Co., Ltd., a controlling shareholder, mainly photovoltaic EPC The company’s share price soared from around 10 yuan to 72.3 yuan in 2015.
Chu Jinfu, the actual controller, also rose in value during this period and became the richest man in Xuchang, Henan Province in 2016.
From 2014 to 2017, Senyuan Electric’s new energy business performed well, bringing revenue of 70 million yuan, 890 million yuan, 2.05 billion yuan and 2.06 billion yuan respectively, accounting for 6.3%, 52.8%, 69.4% and 57.9% of the operating revenue in the same period.
In the past few years, Senyuan Electric has won one major contract after another. Among them, there are two most prominent ones: the EPC contract of Yuzhou 1000 MW photovoltaic power station project signed in 2015, involving a contract amount of 8.5 billion yuan; The photovoltaic poverty alleviation project in Lankao County signed in 2016 is divided into two phases. The amount involved in the first phase is 305 million yuan and the contract amount in the second phase is 4.55 billion yuan.
Just as Chu Jinfu was preparing for a big fight, who ever thought that the performance of Senyuan electric was directly affected by the launch of the new deal of photovoltaic 531 in 2018, and the net profit fell by 37% that year. By 2019, the net profit of Senyuan Electric will directly cut from 440 million in 2017 to more than 14 million.
By 2020, the performance will explode directly and the loss will be nearly 1 billion. Therefore, Senyuan Electric will “wear a hat” and its share price will continue to fall. So far, it has fallen nearly 96% from its previous high.
