When the demon stocks such as China Meheco Group Co.Ltd(600056) , Zhejiang Construction Investment Group Co.Ltd(002761) and others began to adjust, the concept of building energy efficiency Luoyang Northglass Technology Co.Ltd(002613) bucked the trend and continued to rise the limit on March 24 and 25, among which the “ground and sky sector” from the falling limit to the rising limit appeared on March 24, and finally closed nine sectors. During this period, Gao Xueming, the actual controller of the company, and the persons acting in concert reduced their holdings at a high level, but did not disclose them in time as required.
On March 26, the Shenzhen Stock Exchange issued an inquiry letter asking the company to explain why it did not announce Gao Xueming’s share reduction plan and decision-making process on the next trading day when Gao Xueming’s share reduction ratio reached 1%. During the abnormal fluctuation of share price, whether there was any trading situation using insider information. The reporter of China fund daily noted that Gao Xueming has continued to reduce his holdings in the past two years, and has carried out three waves of reduction since May 2020, which is basically seamless.
Luoyang Northglass Technology Co.Ltd(002613) 3 on 25 March, the famous hot money seats Galaxy Securities Shaoxing business department and East Asia Qianhai Securities Beijing Branch have begun to retreat.
actual controller’s share reduction is not disclosed as required
From March 15 to 25, 2022, Luoyang Northglass Technology Co.Ltd(002613) closed 9 limit sectors at one go, and the share price increased by 136%, of which 94.76% increased from March 15 to 24.
On March 26, the company disclosed the announcement on the reduction of more than 1% of the shares held by major shareholders and their persons acting in concert, which said that the controlling shareholder, actual controller Gao Xueming and their persons acting in concert of the company reduced their shares by 0.611% through centralized bidding on January 12, 2022; On March 16, 17 and 22, the company reduced its shares by 1.2185% through block trading, with a total reduction of 1.8295% of the company’s shares.
However, on the next trading day after Gao Xueming held 1% of the company’s shares, the company failed to disclose the announcement of 1% increase or decrease in the shareholding of more than 5% shareholders of Listed Companies in accordance with the announcement format, but disclosed relevant information in the announcement of abnormal fluctuations in stock trading. From the time node, Gao Xueming’s last reduction was on March 22, and the next trading day was on March 23. However, the company did not mention this matter in the announcement of abnormal stock price fluctuation until March 25, and did not make a separate disclosure.
To this end, the Shenzhen stock exchange requires the company to verify and explain to Gao Xueming the plan and decision-making process of reducing the company’s shares during the above-mentioned abnormal fluctuation of stock price by block trading, whether the relevant information disclosure is timely, true, accurate and complete, and whether there is any trading using insider information.
The Shenzhen Stock Exchange also requires the company to verify and explain whether the company’s early information disclosure, interactive and easy reply and other relevant contents are true, accurate and complete, whether there are misleading investors and other situations, as well as the recent research of reception institutions and individual investors, and whether there is a violation of the principle of fair disclosure.
two years of continuous reduction of three rounds
Luoyang Northglass Technology Co.Ltd(002613) actual controller Gao Xueming has been continuously reducing the shares of the company and has conducted three rounds of reduction in less than two years, accounting for about 5% of the total share capital.
First, on May 30, 2020, Luoyang Northglass Technology Co.Ltd(002613) announced that Gao Xueming, the controlling shareholder and chairman holding 500 million shares of the company (accounting for 53.34% of the total share capital of the company), planned to reduce no more than 187434 million shares (accounting for 2% of the total share capital of the company) through centralized bidding within 6 months after 15 trading days from the date of disclosure of the announcement (no reduction during the window period).
Meanwhile, Shi Yuan, the supervisor of the company, who holds 2747200 shares of the company (accounting for 0.29% of the total share capital of the company), plans to reduce his holdings of no more than 686800 shares (accounting for 0.07% of the total share capital of the company) through centralized bidding within 6 months after 15 trading days from the date of announcement disclosure (no reduction during the window period).
The above reduction will be completed on December 22, 2020.
Then, on April 10, 2021, the company announced that Gao Xueming, who holds 482 million shares (accounting for 51.46% of the total share capital of the company), plans to reduce his holdings of no more than 18743400 shares (accounting for 2% of the total share capital of the company) through centralized bidding within 6 months after 15 trading days from the date of disclosure of the announcement (no reduction during the window period).
The reduction will be completed on November 2, 2021. On the same day, Gao Xueming immediately started the third wave of reduction.
After the two reductions, Gao Xueming holds 473 million shares, accounting for 50.46% of the total share capital of the company. It is expected to reduce no more than 18743400 shares through centralized bidding, that is, no more than 2% of the total share capital of the company. This reduction was nearly completed on March 22 (90% of the reduction plan has been completed), just at this time, the company received the attention letter from Shenzhen Stock Exchange.
According to the after hours Longhu list data on Friday (March 25), well-known hot money has begun to withdraw from this 9-company board demon stock. The first position was sold by Shaoxing securities business department of galaxy securities, which is considered to be a well-known hot money brother Zhao’s seat. On the same day, it sold more than 54 million yuan. The Beijing Branch of East Asia Qianhai securities, which sold the second position, was also a well-known hot money seat, selling about 40 million yuan. In addition, there were two institutional seats sold about 56 million yuan together.
On March 25, the Shenzhen Stock Exchange said that from March 21 to March 25, the Shenzhen Stock Exchange had taken self regulatory measures for 50 abnormal securities transactions, involving abnormal transactions such as intraday lifting and suppression and false declaration; Focus on monitoring the ” Luoyang Northglass Technology Co.Ltd(002613) ” with abnormal recent increase; A total of 4 major events of listed companies were verified.
