Sundy Land Investment Co.Ltd(600077) 3 on March 23, we received the regulatory concern letter from Zhejiang securities regulatory bureau. It is required to explain the selling decision-making process of the employee stock ownership plan in 2018, provide the selling transaction flow, and explain whether there is a selling plan for the employee stock ownership plan in 2016 in the near future.
On the same day, the company announced that the number of shares held by the company’s employee stock ownership plan in 2018 was 330287 million shares. As of March 23, 2022, the company’s 2018 employee stock ownership plan has been fully sold.
ESOP purchase price is about 3.89 yuan / share
Sundy Land Investment Co.Ltd(600077) announcement shows that on December 13, 2018, the company disclosed that 330287 million shares had been purchased under the employee stock ownership plan in 2018, accounting for 2.46% of the total share capital of the company. The transaction amount was 128404 million yuan, and the average transaction price was about 3.89 yuan / share.
On March 22, 2022, the company sold 32429200 shares in the 2018 employee stock ownership plan, with a transaction amount of 220 million yuan and an average transaction price of 6.77 yuan / share.
From the recent performance of the company’s secondary market, the company’s share price fell by the limit on March 23, after seven consecutive days. Since March, the stock price has increased by 140.74%. As of the closing on March 23, the company’s share price closed at 6.5 yuan / share, with a market value of 8.71 billion yuan.
On the same day, the company also announced that it had received the regulatory concern letter from the Shanghai Stock Exchange. The Shanghai stock exchange requires that the company should further verify the specific reduction of the two phases of the employee stock ownership plan, including but not limited to the composition and shareholding of the holders of the employee stock ownership plan, the management and benefit distribution mechanism, the background of this reduction, the decision-making process and participants, the specific time point, quantity and price of this reduction, and the subsequent reduction arrangements, and fully remind the relevant risks.
The Shanghai Stock Exchange also mentioned that during the abnormal fluctuation of stock trading, the company repeatedly disclosed that directors, supervisors and senior managers did not reduce their holdings of the company’s shares, and it was clear that there were no other major events that might have a great impact on the company’s share price. It is required to conduct self-examination and explain whether the previous information disclosure is true, accurate and complete and whether there is any inconsistency between the previous and subsequent information disclosure in combination with the reduction of the employee stock ownership plan.
received regulatory concern letter
In addition to paying attention to the reduction of ESOP holdings, both Zhejiang securities regulatory bureau and Shanghai Stock Exchange mentioned in their letters the financial assistance provided by the company to the outside world.
Zhejiang securities regulatory bureau pointed out that on March 13, 2022, the company announced the announcement on signing a cooperation agreement and providing financial assistance to the outside world. Songdu lithium branch, the holding subsidiary of the company, signed an agreement with tus Qingyuan (Shanghai) new material technology Co., Ltd. Tibet Summit Resources Co.Ltd(600338) and other relevant parties, and Songdu lithium branch provided financial assistance to all the contract equipment funds of 1.6 billion yuan. The matter reached above was considered at the 35th meeting of the 10th board of directors of the company, and all three independent directors abstained.
According to the above regulatory concern letter issued by Zhejiang securities regulatory bureau, the company holds 51% of the shares of Songdu lithium branch, and Songdu lithium branch provides 1.6 billion yuan of financial assistance to the outside world. It is required to explain in detail the specific scheme of providing financial assistance. Although the internal directors of the company voted in favour, they still have great doubts and objections to the matters under consideration. They are required to explain whether the relevant doubts and objections have been eliminated. Before the meeting of the board of directors, the company did not conduct sufficient due diligence on the above projects, and the company did not fully prepare the personnel and funds of the project. It is required to explain the current due diligence plan, progress and fund arrangement plan of the project.
The Shanghai Stock Exchange pointed out that in response to the company’s disclosure in the early stage that it plans to advance 1.6 billion yuan to participate in the construction and operation of a lithium extraction project in a salt lake in Argentina, the Shanghai Stock Exchange has issued a concern letter asking the company to explain whether there are demands such as maintaining the stock price in combination with the reduction arrangements of relevant parties, and the company has not replied so far. The company shall, in strict accordance with the requirements of the inquiry letter, verify the recent direct or indirect reduction and subsequent reduction arrangements of the controlling shareholders and their persons acting in concert, actual controllers, directors, supervisors and other relevant parties, and explain the purpose of this transaction on this basis.
multiple hot money shows up
It is worth noting that the Sundy Land Investment Co.Ltd(600077) after hours list shows that selling five seats and buying five seats are hot money. China stock market news Lhasa Tuanjie road and China stock market news Lhasa east ring road have two seats in buy five and sell five.
The company pointed out in the announcement of abnormal stock fluctuations disclosed recently that the company’s main business has not changed. According to the latest audited annual report, the company’s real estate business revenue accounted for 97.1% of the operating revenue in 2020, and the company’s main business is still real estate operation.
According to the calculation of the financial department, the net profit attributable to the shareholders of the listed company in 2021 is expected to be about – 400 million yuan to – 300 million yuan, a year-on-year decrease of about 752 million yuan to 652 million yuan; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was about – 380 million yuan to – 270 million yuan, a year-on-year decrease of about 810 million yuan to 920 million yuan.
According to the company’s recent debt maturity, the announcement shows that the company’s 193 million 19 Songdu 01 corporate bonds will expire on May 30, 2022, which will have a certain impact on the company’s cash flow expenditure.
According to Sundy Land Investment Co.Ltd(600077) introduction, the number of shares held by the controlling shareholders and persons acting in concert of the company accounts for 50.15% of the total share capital, the cumulative number of Pledged Shares accounts for 79.15% of the shares held by them, and the share pledge proportion is high. The guarantee balance provided by the company in the form of deposit certificate pledge for the controlling shareholder Zhejiang Songdu Holding Co., Ltd. is still 2837.1 million yuan.
