Recently, listed real estate company Sundy Land Investment Co.Ltd(600077) became a big bull stock, and gained 12 trading limits in 17 trading days.
At the time of the sharp rise of the company’s share price, Sundy Land Investment Co.Ltd(600077) ‘s employee stock ownership plan sold shares worth more than 200 million yuan at a high level. After excluding the purchase cost, the per capita profit of 300 employees exceeded 310000 yuan.
The reduction of the above employee stock ownership plan has been widely concerned by the market. On the evening of March 23, Sundy Land Investment Co.Ltd(600077) not only received the regulatory work letter from Shanghai Stock Exchange, but also received the regulatory concern letter from Zhejiang securities regulatory bureau.
Among them, the Zhejiang Securities Regulatory Bureau requires the company to provide the selling transaction flow, and the Shanghai stock exchange requires the company to 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, etc.
12 daily limit boards were harvested in 17 trading days, and the high cash out of the employee stock ownership plan exceeded 200 million yuan
march 23, Daniu shares Sundy Land Investment Co.Ltd(600077) announced that on March 22, the company’s 2018 employee stock ownership plan had sold 324292 million shares, with a transaction amount of 220 million yuan and an average transaction price of 6.77 yuan / share
As of March 23, all 33028700 shares of the company’s shares held by the company’s 2018 employee stock ownership plan had been sold, which means that the employee stock ownership plan sold the remaining 599500 shares on March 23.
So far, the company’s employee stock ownership plan in 2018 has been implemented and automatically terminated, and asset liquidation and distribution will be carried out later.
the selling of the above employee stock ownership plan can be described as fast and accurate. It took only two days to sell all its shares, and the selling price was also at a high point
Looking back, 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 128.4 million yuan and the average transaction price was about 3.89 yuan / share. The total number of employees participating in the ESOP is no more than 300, including 9 directors, supervisors and senior managers, including Yu Jianwu, chairman of the company.
Subsequently, the duration of the shareholding plan was extended for two years, that is, the renewal period was extended to September 1, 2023. However, since March 1, 2022, the company’s share price has continued to rise, and 12 limit boards have been harvested in 17 trading days, with a cumulative increase of 141%.
faced with huge profits, the shareholding plan can’t wait to sell its shares. Excluding the stock selling cost of RMB 223.89 million per capita, the total profit was about RMB 9.589 million
company’s custody letter, requiring to provide the selling transaction flow and the composition of the holders of the shareholding plan
The reduction of the above employee stock ownership plan has been widely concerned by the market and investors. On the evening of March 23, Sundy Land Investment Co.Ltd(600077) not only received the supervision letter from Shanghai Stock Exchange, but also received the supervision attention letter from Zhejiang securities regulatory bureau, which were related to the company’s employee stock ownership plan. Among them, Zhejiang Securities Regulatory Bureau requires the company to provide selling transaction flow.
Shanghai Stock Exchange puts forward regulatory requirements for the company: the company shall 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 the reduction, the decision-making process and participants, the specific time point, quantity and price of the reduction, and the subsequent reduction arrangements, and fully prompt the relevant risks
In the early stage, the company disclosed that it planned 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 issued a regulatory inquiry letter on relevant matters, requiring the company to explain whether there are demands such as maintaining the stock price in combination with the reduction arrangement of relevant parties. 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.
in addition, the company shall conduct a comprehensive self-examination on the control of internal information in the early stage, and verify the recent stock transactions of the directors, supervisors, controlling shareholders and actual controllers of the company, the counterparties, other relevant parties and their directors, supervisors, major shareholders, actual controllers, as well as the close relatives of the above-mentioned objects
That night, Sundy Land Investment Co.Ltd(600077) also received a letter of regulatory concern from Zhejiang securities regulatory bureau. In the daily supervision, Zhejiang Securities Regulatory Bureau noticed that on March 13, the company announced the announcement on signing cooperation agreement and providing financial assistance to foreign countries. The holding subsidiary Songdu lithium Technology Co., Ltd. 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 Technology Co., Ltd. provided financial assistance to all 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.
Although the internal directors of the company voted in favor, they still have great doubts and objections to the matters under consideration. Zhejiang Securities Regulatory Bureau requires the internal directors of the company to explain whether the relevant doubts and objections have been eliminated; In case of great doubts about this matter, whether it is appropriate to vote in favour.
The company holds 51% of the shares of Songdu lithium branch, and Songdu lithium branch provides 1.6 billion financial assistance. Zhejiang Securities Regulatory Bureau requires the company to specify the specific scheme of providing financial assistance.
At the same time, Zhejiang securities regulatory bureau has also paid attention to the trend of the company’s employee stock ownership plan. The company’s employee stock ownership plan in 2016 has been postponed twice, and the employee stock ownership plan in 2018 has been postponed once and sold recently. Zhejiang Securities Regulatory Bureau requires the company 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.
last year, the net profit loss was 300 million yuan to 400 million yuan in advance, after the chairman was fined and confiscated for insider trading of more than 146 million
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.
From the perspective of operation, the performance of Sundy Land Investment Co.Ltd(600077) has fluctuated a little in recent years. From 2016 to 2020, the company’s revenue was 7.764 billion yuan, 2.749 billion yuan, 4.592 billion yuan, 4.167 billion yuan and 7.161 billion yuan respectively, and the net profit attributable to the parent company was – 199 million yuan, 156 million yuan, 411 million yuan, 588 million yuan and 352 million yuan respectively.
according to the latest performance forecast, Sundy Land Investment Co.Ltd(600077) it is estimated that the net profit attributable to the shareholders of the listed company in 2021 will be a loss of about 300 million yuan to 400 million yuan, a year-on-year decrease of about 752 million yuan to 652 million yuan
Reasons for loss in advance: 1) for self-owned real estate, the company compares the discounted present value of rental cash flow with the historical cost of the book and makes provision for asset impairment. The impact of the proposed amount on the net profit is about – 230 million yuan to – 290 million yuan; 2) The profit generated from the delivery of cooperative projects is lower than that of the previous year. It is expected that the investment income recognized by the equity method is lower than that of the previous year, and the impact on the net profit is about – 140 million yuan to – 180 million yuan.
It should be noted that the pledge proportion of major shareholders of the company is high. Up to now, the controlling shareholders and persons acting in concert of the company have held 672 million shares of the company (accounting for 50.15% of the total share capital), and the cumulative number of Pledged Shares is 532 million shares, accounting for 79.15% of their shares.
In addition, up to now, 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 2.837 billion yuan.
In December last year, Yu Jianwu, the actual controller, chairman and President of Sundy Land Investment Co.Ltd(600077) company, received the decision on administrative punishment issued by the CSRC due to insider trading. Yu Jianwu was fined 146.79 million yuan, including 36.79 million yuan of illegal income and 110 million yuan of fine. At that time, Sundy Land Investment Co.Ltd(600077) said that the administrative punishment did not involve the company, 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.
