Just now, another chairman of a listed company was punished by the regulatory authorities for insider trading.
On Thursday, according to Sundy Land Investment Co.Ltd(600077) a well-known real estate enterprise and A-share listed company in Hangzhou, the chairman of the company was fined 146.79 million yuan by the CSRC for insider trading, of which 36.79 million yuan of illegal income was confiscated and 110 million yuan was fined.
the chairman of a listed company was fined 110 million yuan by the CSRC
on December 23, the A-share listed company Sundy Land Investment Co.Ltd(600077) announced that the company received the notice from Yu Jianwu, the actual controller, chairman and President, and Yu Jianwu received the decision on administrative punishment issued by the CSRC on December 22. The CSRC decided to confiscate Yu Jianwu’s illegal income of 36.79 million yuan and impose a fine of 110 million yuan.
If the party is not satisfied with the punishment decision, the party may apply to the CSRC for administrative reconsideration within 60 days from the date of receiving the punishment decision, or directly bring an administrative lawsuit to the people’s court with jurisdiction within 6 months from the date of receiving the punishment decision. During the period of reconsideration and litigation, the implementation of the above decision shall not be suspended. Yu Jianwu has made it clear in the notification letter that he will put forward administrative reconsideration or administrative litigation.
Looking back, in January this year, Yu Jianwu received the investigation notice from the CSRC. At that time, due to suspected insider trading in stocks, the CSRC decided to file a case for investigation against Yu Jianwu. Now, 11 months have passed, and Yu Jianwu’s insider trading has finally been settled.
Sundy Land Investment Co.Ltd(600077) said that the administrative punishment did not involve the company’s matters, but was a personal punishment decision for Yu Jianwu, chairman and President of the company. The stock trading in his personal account did not involve the company’s shares and would not affect the company’s daily production and operation activities. Up to now, all production and operation activities of the company are normal.
Yu Jianwu’s company once illegally used other people’s accounts to engage in securities trading and was fined 300000
According to the information disclosed in the Sundy Land Investment Co.Ltd(600077) annual report, Yu Jianwu was born in 1966 and is 55 years old. He has a master of Business Administration degree and a senior economist title. Currently Sundy Land Investment Co.Ltd(600077) chairman and president. In addition, he also served as a deputy to the 13th National People’s Congress of Hangzhou, an executive member of the fourth council of Zhejiang Federation of industry and commerce, and a vice president of the chamber of Commerce directly under Zhejiang Federation of industry and commerce. He once served as executive director of China Young Entrepreneurs Association, deputy to the 9th, 10th and 11th National People’s congresses of Hangzhou, member of the 10th CPPCC and deputy director of the economic and Agricultural Commission of Hangzhou, vice president and President of Zhejiang and Hangzhou Young Entrepreneurs Association, and member of the Standing Committee of Zhejiang Youth Federation.
Up to now, Yu Jianwu has directly held Sundy Land Investment Co.Ltd(600077) 9.74% shares of the listed company and Sundy Land Investment Co.Ltd(600077) 35.01% shares through Zhejiang Songdu Holding Co., Ltd. Zhejiang Songdu Holding Co., Ltd. is an enterprise 100% controlled by Yu Jianwu. In other words, the controlling shareholder of Sundy Land Investment Co.Ltd(600077) is Zhejiang Songdu Holding Co., Ltd. and the actual controller is Yu Jianwu.
In addition, Yu Jianwu also owns a Hong Kong listed company called Songdu service, which is mainly engaged in property management service business. Songdu service was listed and traded on the Hong Kong Stock Exchange at the issue price of HK $0.25/share on January 18 this year, raising HK $140 million. However, on the first day of listing, Songdu service fell below the issue price, closing down 36% that day. So far, the share price of Songdu service is HK $0.139 and the market value is HK $440 million.
It is worth noting that in August 2012, Zhejiang Songdu Holding Co., Ltd. (the controlling shareholder of A-share listed company Sundy Land Investment Co.Ltd(600077) ) under Yu Jianwu was fined 300000 yuan by the CSRC for illegally using other people’s accounts to engage in securities trading.
At that time, according to the statistics of Shanghai Stock Exchange, Zhejiang Songdu Holding Co., Ltd. used the “Wang” account to trade multiple stocks from October 21, 2010 to September 7, 2011, with a cumulative loss of 13.79 million yuan. According to the statistics of Shenzhen Stock Exchange, “Wang” account traded several stocks from October 21, 2010 to September 7, 2011, with a cumulative profit of 4.89 million yuan. To sum up, the “Wang” account had a cumulative loss of 8.9 million yuan from trading stocks from October 21, 2010 to September 7, 2011.
The market value of Sundy Land Investment Co.Ltd(600077) once exceeded 20 billion, but now there are only 3.7 billion
Sundy Land Investment Co.Ltd(600077) is one of the “old 18” well-known real estate development enterprises in Hangzhou. It was founded in 1999 and listed on backdoor st encyclopedia in 2011, becoming a listed company on the A-share main board. Sundy Land Investment Co.Ltd(600077) the headquarters is located in the core area of CBD in Qianjiang New Town, Hangzhou. In recent years, it has launched many real estate projects, such as sunshine international, Impression West Lake, daqishan County, xinchenyue house, Jiangchen house, Ruyi Chunjiang, etc. the product line covers a wide range of property types.
From the perspective of operation, the performance of Sundy Land Investment Co.Ltd(600077) fluctuated a little in recent years. From 2016 to 2020, the company’s revenue was RMB 7.764 billion, RMB 2.749 billion, RMB 4.592 billion, RMB 4.167 billion and RMB 7.161 billion respectively, and the net profit attributable to the parent was RMB -199 million, RMB 156 million, RMB 411 million, RMB 588 million and RMB 352 million respectively. In the first three quarters of this year, Sundy Land Investment Co.Ltd(600077) revenue was 4.704 billion yuan, a year-on-year increase of 33.70%; The net profit attributable to the parent company was 60.86 million yuan, a year-on-year decrease of 63.4%.
From the secondary market, the company’s share price fluctuated greatly. From June 2014 to June 2015, the share price of Sundy Land Investment Co.Ltd(600077) soared more than three times. At that time, the market value of Sundy Land Investment Co.Ltd(600077) once exceeded 20 billion yuan. However, the company’s share price fell all the way. As of the closing on December 23, the company’s share price was 2.76 yuan, with a market value of 3.7 billion yuan, with a higher point of more than 80%.
The share repurchase plan put forward by in January has not yet been implemented
It should be noted that on January 23 this year, in order to stabilize the stock price, Sundy Land Investment Co.Ltd(600077) disclosed that the actual controller received the notice of investigation filed by the CSRC, and also threw out a plan to buy back shares.
At that time, Sundy Land Investment Co.Ltd(600077) said that based on the confidence in the company’s sustainable and stable development in the future and the reasonable judgment of the company’s stock value, comprehensively considering the company’s actual operation and future development prospects, the company established and improved the company’s long-term incentive mechanism, attracted and retained outstanding talents, safeguarded the interests of a wide range of investors and enhanced investor confidence, and the company planned to repurchase some of the company’s shares with its own funds, All of them will be used for the subsequent implementation of equity incentive.
The total amount of share repurchase funds shall not be less than 130 million yuan and not more than 260 million yuan, and the price of share repurchase shall not exceed 4.61 yuan / share. The repurchase period shall not exceed 12 months from the date when the board of directors deliberates and approves the repurchase plan (January 22).
However, the latest announcement shows that as of the end of November 2021, the company has not carried out share repurchase. With only one month left, Sundy Land Investment Co.Ltd(600077) can complete the repurchase plan on schedule?
Sundy Land Investment Co.Ltd(600077) land withdrawal with a blood loss of 50 million has attracted attention
From July to August this year, Sundy Land Investment Co.Ltd(600077) lost money and returned to the land, which also attracted market attention. At that time, Sundy Land Investment Co.Ltd(600077) would rather not have a deposit of 50 million yuan than resolutely return the land previously photographed.
On July 21, Sundy Land Investment Co.Ltd(600077) announced that Hangzhou Shaohui, a wholly-owned subsidiary of the company, decided to give up the bid for plot 8, and the paid advance application deposit of 50 million yuan will not be returned, accounting for 14.19% of the company’s latest audited net profit of 352 million yuan. Sundy Land Investment Co.Ltd(600077) became the first real estate enterprise to “return land” after the implementation of the centralized land auction policy.
At that time, Sundy Land Investment Co.Ltd(600077) said that the waiver of the competing land use right was a prudent decision made by the company’s management after careful consideration of market risk factors. Based on the company’s steady development, the company would not rule out retaining the right to apply for administrative reconsideration or file an administrative lawsuit.
Subsequently, the Shanghai Stock Exchange issued a regulatory letter to the company. On August 10, Sundy Land Investment Co.Ltd(600077) further explained the specific reasons for abandoning plot 8 under the questioning of Shanghai Stock Exchange.
Sundy Land Investment Co.Ltd(600077) said that after Hangzhou Shaohui won plot 8 with RMB 1.783 billion on May 7, it immediately reached a cooperation intention with Xiangsheng North Zhejiang company. The two sides preliminarily determined the basic cooperation mode of land development through wechat voice communication, that is, 50%: 50% equity joint trading development. That night, Xiangsheng’s relevant personnel went to the company’s site to discuss cooperation matters. On the evening of May 12, both parties made it clear through wechat that Xiangsheng party had reported to its chairman, and the cooperation agreement did not need to be modified and had been sent to Xiangsheng group company for signature and seal.
On May 13, Xiangsheng party suddenly informed relevant personnel of the company by telephone and unilaterally said that it would not participate in this cooperation. Sundy Land Investment Co.Ltd(600077) said in the announcement at that time that the company had entrusted a lawyer to send a lawyer’s letter to xiangshengfang, requiring it to bear the liability for contracting fault and actively and properly handle the compensation.
On August 11, Xiangsheng holding group immediately issued an announcement to clarify that Sundy Land Investment Co.Ltd(600077) blamed the group for Hangzhou Shaohui’s abandonment of the land use right of plot 8 and the confiscation of 50 million yuan of advance application deposit. The company notes that the company and its subsidiaries have not entered into any agreement or document with Sundy Land Investment Co.Ltd(600077) and its subsidiaries. Plot 8 was won by Sundy Land Investment Co.Ltd(600077) with its wholly-owned subsidiary by paying the advance application deposit. The losses caused by land withdrawal shall be borne by Sundy Land Investment Co.Ltd(600077) alone.
However, with regard to the Sundy Land Investment Co.Ltd(600077) land withdrawal event, Xiangsheng holdings issued a Clarification Announcement on August 11, saying that after Sundy Land Investment Co.Ltd(600077) won the plot of canal new town, the company and its subsidiaries did not sign any agreement or document with Sundy Land Investment Co.Ltd(600077) and its subsidiaries. Sundy Land Investment Co.Ltd(600077) blamed Xiangsheng holding for giving up the land use right of plot 8 and confiscating 50 million yuan of advance application deposit. “The reputation of the company is now affected. Xiangsheng holding will reserve the right to initiate legal proceedings against Sundy Land Investment Co.Ltd(600077) for any damage suffered.”
(brokerage China)
