China news finance and economics, April 9 (Xinhua) “accidentally” made more than 80 million yuan and turned it over to the company. Therefore, it received a supervision letter. The protagonist of today’s story is Qin Yinglin, the richest man in Henan Province.
“accidentally” made more than 80 million
On February 7, Muyuan Foods Co.Ltd(002714) announced that Chairman Qin Yinglin and senior management Xu shaotao sold part or all of the company’s convertible corporate bonds held by them respectively on February 17 and February 15. The above transactions constitute short-term transactions.
The announcement shows that Qin Yinglin’s income from this short-term transaction is about 868881 million yuan, and Xu shaotao’s income from this short-term transaction is about 69150 yuan. After the above-mentioned acts occurred, Qin Yinglin and Xu shaotao took the initiative to explain the relevant situation to the company and handed over the proceeds of this transaction to the company.
Screenshot from Muyuan Foods Co.Ltd(002714) announcement.
Although the announcement said that Qin Yinglin did not have the subjective intention of short-term trading, and there was no purpose of using short-term trading to seek benefits. However, on the 8th, Qin Yinglin still received the supervision letter from the Shenzhen Stock Exchange.
This is not the first time Qin Yinglin has been “targeted” by regulators. In May 2021, Muyuan Foods Co.Ltd(002714) received the decision on taking regulatory talk measures against Qin Yinglin issued by the CSRC for disclosure.
It is mentioned that on March 15, 2021, Muyuan Foods Co.Ltd(002714) when the media questioned some of the company’s financial indicators and related party transactions, and was inquired by the Shenzhen Stock Exchange and asked for verification and explanation, it submitted relevant materials for starting the issuance of convertible bonds to the CSRC and issued a written opinion, indicating that there were no major matters affecting the issuance and listing of the company and the judgment of investors. Qin Yinglin, as Muyuan Foods Co.Ltd(002714) legal representative and chairman of the board, signed on the relevant materials for confirmation.
the richest man in Henan who raised pigs
As the “helmsman” of the national pig breeding leading enterprise, Qin Yinglin has been committed to pig breeding for 30 years.
Muyuan Foods Co.Ltd(002714) official website shows that in 1992, Qin Yinglin and his wife Qian Ying resigned from public office and returned to Mashankou Town, Neixiang County, his hometown, starting from raising 22 pigs. After 30 years of development, muyuan’s pig raising business covers 215 counties (districts), 102 cities, 24 provinces (districts) across the country, with total assets of 212 billion yuan, 140000 employees, more than 300 subsidiaries and 40.26 million pigs in 2021.
In 2019, under the dual influence of African swine fever and pig cycle, pork prices once “took off”, and Qin Yinglin also became “the richest man in Henan”.
Although pig prices fell after that, Qin Yinglin remained firmly in the position of “the richest man in Henan”. According to the 2022 Hurun global rich list, Qin Yinglin and Qian Ying ranked 10th in China and 46th in the world with a wealth of 175 billion yuan.
performance decrease pig price
On January 19, Muyuan Foods Co.Ltd(002714) once released the performance forecast for 2021. It is estimated that the net profit attributable to the shareholders of the listed company in 2021 will be 6.5 billion yuan to 8 billion yuan, a year-on-year decrease of 70.86% – 76.32%.
In this regard, Muyuan Foods Co.Ltd(002714) explained that during the reporting period, the number of pigs sold by the company increased significantly compared with the same period last year. However, due to the gradual recovery of China’s pig production capacity, the pig price in 2021 decreased significantly compared with the same period last year, resulting in a significant decline in the company’s operating performance in 2021 compared with the same period last year.
According to the dynamics of Shenzhen Agricultural Products Group Co.Ltd(000061) markets outside China released by the Department of market and information technology of the Ministry of agriculture and rural areas, the weekly average price of pork wholesale market was 23.36 yuan per kilogram at the end of 2021, a cumulative decrease of 49.5% compared with 46.28 yuan per kilogram at the beginning of the yearP align = “center” Muyuan Foods Co.Ltd(002714) stock price trend chart on day K.
The performance is expected to decline. In the capital market, “Zhumao” Muyuan Foods Co.Ltd(002714) share price has fallen all the way since the high of 131 yuan in February 2021, and once fell to 39.01 yuan in July.
As of the closing on April 8, 2022, Muyuan Foods Co.Ltd(002714) fell 0.74% to 53.71 yuan / share.
