Less than 24 hours before the opening on next Monday, the 25 times lithium power Bull Stock Jiangxi Special Electric Motor Co.Ltd(002176) , which was filed for investigation by the CSRC on suspicion of letter Phi violation, was collectively “compensated” by public funds at the weekend, and continued to reduce the valuation on the basis of the limit on Friday.
In recent days, three fund companies, including Ping An fund, SDIC UBS and Cinda Australia Bank, have successively issued announcements to adjust the Jiangxi Special Electric Motor Co.Ltd(002176) valuation. The latest valuation price is 19.40 yuan, down 10% from the limit price on Friday.
Data show that by the end of the third quarter of this year, a total of 21 funds held Jiangdian special machinery, with a total market value of nearly 1.9 billion yuan.
“The fund company adjusts the stock valuation with potential risks. On the one hand, it complies with the regulatory requirements and timely reflects the fundamentals of individual stocks. On the other hand, it can also prevent some institutions from early redemption arbitrage.” A fund company pointed out.
“Since the third quarterly report only discloses the top ten heavy positions of public funds, it does not rule out fund companies with more positions Jiangxi Special Electric Motor Co.Ltd(002176) to follow up and adjust the valuation. In addition, fund companies that have adjusted the valuation may continue to adjust the valuation according to the market situation in the future.” Another fund company said.
several fund companies reduced Jiangxi Special Electric Motor Co.Ltd(002176) valuation
the latest valuation is adjusted to 19.40 yuan
According to the latest situation, it has experienced a limit of Jiangxi Special Electric Motor Co.Ltd(002176) on Friday, which is still far from meeting the expectations of the fund company. It continues to take collective action to reduce the valuation over the weekend.
On December 11, Ping An Fund issued the announcement on the valuation adjustment of Jiangxi Special Electric Motor Co.Ltd(002176) held by its funds, which said that in order to make the valuation of relevant funds of the fund manager fair and reasonable, according to the requirements of the guidance of the CSRC on the valuation business of securities investment funds (CSRC announcement [2017] No. 13) of the China Securities Regulatory Commission, Through consultation with the custodian, Ping An Fund Management Co., Ltd. decided to adjust the valuation of the stock Jiangxi Special Electric Motor Co.Ltd(002176) (Code: 002176) held by the company’s funds (except for trading open-end index funds) from December 10, 2021, with the valuation price of 19.40 yuan. After the above stock transactions reflect the trading characteristics of the active market, the valuation will be restored to the closing price of the day, and no further announcement will be made at that time.
On the same day, SDIC UBS fund also issued an announcement on relevant valuation adjustment. SDIC UBS Fund said that through consultation with the relevant fund custodian, the company adopted 19.40 yuan for valuation adjustment of shares (002176) Jiangxi Special Electric Motor Co.Ltd(002176) held by its securities investment fund as of December 10, 2021.
In fact, as early as December 10, Cinda Aoyin fund took the lead in adjusting the valuation of Jiangxi Special Electric Motor Co.Ltd(002176) , with the latest valuation of 19.40 yuan / share.
After a simple calculation, the valuation adjustment range is 10% compared with the latest closing price on December 10, which also means that the public fund is expected to have at least one limit for Jiangxi Special Electric Motor Co.Ltd(002176) .
Jiangxi Special Electric Motor Co.Ltd(002176) suspected of violation of letter phi, and “one word limit” on Friday
some institutions “enter” through the block trading limit
On December 9, Jiangxi Special Electric Motor Co.Ltd(002176) announced that the CSRC decided to file a case against the company for suspected illegal information disclosure. According to the announcement, on December 9, 2021, the company received the notice on filing (Zheng Jian Li Jian Li Jian Zi No. 025201009) from China Securities Regulatory Commission (hereinafter referred to as “CSRC”). Due to suspected illegal information disclosure, 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 the company.
Jiangxi Special Electric Motor Co.Ltd(002176) also responded on the investor interaction platform that the company was filed for investigation by the CSRC on suspicion of illegal information disclosure. At present, the production and sales of the company are normal.
Suddenly encountered major bad news. Opening on the morning of December 10, Jiangxi Special Electric Motor Co.Ltd(002176) fell by the limit and closed the limit all day. As of the closing, Jiangxi Special Electric Motor Co.Ltd(002176) closed at 21.55 yuan, down 9.98%. The market value evaporated 4 billion yuan a day, and the latest market value was 36.7 billion yuan. At the close, there were still more than 1.8 million sales orders on one seat.
However, some institutions are not afraid to “lick the blood with a knife” on the drop limit board. According to the data of the block trading platform, a block transaction was concluded on Jiangxi Special Electric Motor Co.Ltd(002176) on December 10, with a transaction price of 21.55 yuan, a transaction volume of 651000 shares and a transaction amount of 14.0291 million yuan. The buyer’s business department of the transaction is dedicated to the institution, and the seller’s business department is Citic Securities Company Limited(600030) Hubei Branch.
According to public information, Jiangxi Special Electric Motor Co.Ltd(002176) is a national high-tech enterprise integrating R & D, production and sales of intelligent electromechanical products, lithium products and electric vehicles.
The third quarterly report shows that in the first three quarters of 2021, Jiangxi Special Electric Motor Co.Ltd(002176) achieved an operating revenue of 2.030 billion yuan, a year-on-year increase of 44.66%; The net profit attributable to the shareholders of the listed company was 249 million yuan, a year-on-year increase of 1066.33%; The basic earnings per share is 0.1462 yuan.
In 2021, the company’s motor business grew steadily, and the increase of lithium business volume and price boosted the performance reversal.
Jiangxi Special Electric Motor Co.Ltd(002176) mainly engaged in lithium mica mining and processing, lithium carbonate processing, and R & D, production and sales of special motors. The company has 2 mining rights and 5 exploration rights for lithium porcelain ore in Yichun Area, with a total lithium ore resources of more than 100 million tons held or controlled, and 4 production lines for lithium carbonate and lithium hydroxide (under construction) prepared from lithium mica and spodumene, with an annual production capacity of more than 30000 tons. In addition, the company has successfully developed motor products of nearly 50 series and more than 3000 models and specifications, and has become the head supplier of many special motor segments in China.
In April 2020, Jiangxi Special Electric Motor Co.Ltd(002176) was “wearing stars and hats” due to losses for two consecutive years in 2018 and 2019. At that time, with the decline of subsidies for new energy vehicles, the price of lithium carbonate was cut. Large scale goodwill impairment was carried out in Jiangxi Special Electric Motor Co.Ltd(002176) in 2018 and 2019. What really made Jiangxi Special Electric Motor Co.Ltd(002176) “reborn” was the sharp rise in the price of lithium carbonate caused by the global sales of new energy vehicles far exceeding expectations.
Information Disclosure Violation is not the first time to make a mistake
previously received a warning letter from the securities regulatory bureau
In fact, Jiangxi Special Electric Motor Co.Ltd(002176) also received a warning letter from Jiangxi Securities Regulatory Bureau due to illegal information disclosure in May 2020.
Jiangxi securities regulatory bureau said that after investigation, Jiangxi Special Electric Motor Co.Ltd(002176) had the following information disclosure violations:
1、 On October 31, 2018, Jiangxi Special Electric Motor Co.Ltd(002176) disclosed in the third quarter report of 2018 that the net profit attributable to shareholders of the listed company in 2018 is expected to change from 337565300 yuan to 47821750 yuan, with a change range of 20% to 70%. On January 31, 2019, Jiangxi Special Electric Motor Co.Ltd(002176) disclosed the revised announcement of the performance forecast for 2018. It is estimated that the net profit attributable to shareholders of the listed company in 2018 will be a loss of RMB 1.5 billion to RMB 1.64 billion. On January 15, 2019, Jiangxi Special Electric Motor Co.Ltd(002176) the consolidated statement preliminarily estimated that the net profit in 2018 was -145 million yuan (excluding the amount of goodwill impairment), and the operating performance turned from profit to loss. Jiangxi Special Electric Motor Co.Ltd(002176) failed to fulfill the obligation of information disclosure in time, and disclosed the performance correction notice of 2018 as late as January 31, 2019.
2、 As disclosed in the 2018 annual report, Jiangxi Special Electric Motor Co.Ltd(002176) jiangte Electric Vehicle Co., Ltd., a wholly-owned subsidiary of Jiangxi Special Electric Motor Co.Ltd(002176) , has paid a total material procurement fund of 94.3698 million yuan for Yichun Leiheng Technology Co., Ltd., which is in the nature of fund lending. The matter failed to fulfill the review procedures and information disclosure obligations.
The CSRC said that the above acts violated the relevant provisions of articles 2, 3 and 25 of the measures for the administration of information disclosure of listed companies. Zhu Jun, as the chairman and then general manager of the company, and min yinzhang, as the vice president and Secretary of the board of directors of the company, failed to perform the obligation of diligence and responsibility in accordance with Article 3 of the measures for the administration of information disclosure of listed companies, and was mainly responsible for the above violations of the company.
According to the relevant provisions of articles 58 and 59 of the measures for the administration of information disclosure of listed companies, Jiangxi securities regulatory bureau decided to take the supervision and management measures of issuing warning letters for Jiangxi Special Electric Motor Co.Ltd(002176) and Zhu Jun and min yinzhang respectively, and record them in the integrity archives of the securities and futures market. Jiangxi Special Electric Motor Co.Ltd(002176) a written report on the rectification shall be submitted to the CSRC before May 18, 2020.
Jiangxi Special Electric Motor Co.Ltd(002176) since this year, the share price has risen 477%
in the third quarter, 21 funds held
Jiangxi Special Electric Motor Co.Ltd(002176) can be called one of the leading stocks in this round of new energy bull market.
According to the data, as of December 10, Jiangxi Special Electric Motor Co.Ltd(002176) ‘s share price has increased by more than 477% this year, ranking No. 7 in the annual increase list of all a shares. In May 2020, Jiangxi Special Electric Motor Co.Ltd(002176) ‘s share price was once as low as 1.25 yuan. In a short period of more than one year, the biggest increase of the stock was more than 25 times.
However, before the second quarter of this year, Jiangxi Special Electric Motor Co.Ltd(002176) there were few public funds, and there were few public funds among the top ten circulating shareholders.
Since the second quarter of this year, public funds have gradually increased their positions Jiangxi Special Electric Motor Co.Ltd(002176) , from 5207500 shares in the second quarter to 80719200 shares in the third quarter.
Some star fund managers with heavy positions in the new energy sector also entered Jiangxi Special Electric Motor Co.Ltd(002176) with their funds in the third quarter. The data show that the four funds managed by Shi Cheng, the star fund manager of SDIC UBS, including SDIC UBS new energy, SDIC UBS industrial trend, SDIC UBS advanced manufacturing and SDIC UBS Jinbao, collectively bought Jiangxi Special Electric Motor Co.Ltd(002176) in the third quarter, The above four funds hold Jiangxi Special Electric Motor Co.Ltd(002176) 63160500 shares in total, with a total market value of nearly 1.5 billion yuan. Jiangxi Special Electric Motor Co.Ltd(002176) is the second largest heavy position stock in the third quarter of the two funds of SDIC UBS new energy and SDIC UBS advanced manufacturing. It is also the third largest heavy position stock of the two funds of SDIC UBS industrial trend and SDIC UBS Jinbao.
LV yuechao, manager of Haifutong equity fund, was also very optimistic about Jiangxi Special Electric Motor Co.Ltd(002176) in the third quarter. Four funds under his management, including Haifutong stock, Haifutong growth selection, Haifutong scientific and technological innovation and Haifutong advanced manufacturing, also held Jiangxi Special Electric Motor Co.Ltd(002176) in the third quarter, holding more than 9 million shares in total, with a total market value of more than 200 million yuan.
The stock investment positions of some fof funds also include Jiangxi Special Electric Motor Co.Ltd(002176) . Pu Yin an Sheng Jiahe robust one-year holding, Pu Yin an Sheng Yi robust pension one-year holding, and Pu Yin an Sheng pension 2040 three-year holding. Fof funds also bought Jiangxi Special Electric Motor Co.Ltd(002176) in the third quarter. Among them, the market value of Jiangxi Special Electric Motor Co.Ltd(002176) held by AXA pension of Puyin in 2040 at the end of the third quarter exceeded 600000 yuan, accounting for more than 4% of the net asset value of the fund, and the proportion of Jiangxi Special Electric Motor Co.Ltd(002176) held by the other two funds at the end of the third quarter did not exceed 0.5%.
However, some people in the industry reminded that the data in the third quarterly report lags slightly, which can only be used as a reference. It does not rule out the position adjustment and share exchange of some funds in the fourth quarter. The position of public funds in Jiangxi Special Electric Motor Co.Ltd(002176) has yet to be disclosed in the latest fourth quarter.
(China Fund News)
