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The concept of low-altitude economy overhead, ST Yongyue (rights protection) (Yongyue Technology, 603879FreebingonodepositnocarddetailswinrealmoneyFrom March 6 to March 21, the stock price has risen by 150%.
Now, when ST Yongyue receives the "notice of administrative punishment and market ban", the actual controller is filed, and the company is warned of other risks, the painting style has changed, the "one-word limit" mode has been opened, and the holders in the field are miserable.
According to the ST Yongyue announcement on April 29th, the results of the company's case investigation on October 11, 2023, the company is suspected of misleading statements in the interim announcement of major contracts, suspected of failing to disclose the related party's occupation of non-operating funds in time, and major omissions in periodic reports. finally, the CSRC decided to give a warning to the company and imposed a fine of 13 million yuan. Chairman Chen Xiang was warned and fined 10.5 million yuan; Zhu Shuibao, then secretary of the board of directors and chief financial officer, was warned and fined 1 million yuan; general manager Xu Weida was warned and fined 700000 yuan. At the same time, because the party, Chen Xiang, as the chairman and actual controller of the company, led, planned, directed, and carried out all the illegal acts of information disclosure of the company, and the circumstances of the illegal acts were serious, the CSRC plans to ban Chen Xiang from entering the securities market for five years.
Chen Xiang, the actual controller and chairman, not only received the notice of filing a case on April 1, 2024 on suspicion of illegal information disclosure, but also filed a case on April 28 on suspicion of insider trading in the securities market.
Against this background, on April 29th, ST Yongyue "fell by the limit", down 9%.Freebingonodepositnocarddetailswinrealmoney91%. The double whammy is that the company's annual report was sent to the accounting firm (special general partnership) to issue a negative "internal control audit report", which touched the relevant laws and regulations. After the company's shares were suspended for one day on April 30, 2024, they looked back with a hat on May 6, followed by a series of "one-word limit". The cumulative turnover rate of a total of five "one-word limit" from April 29 to May 9 was 2.68%. As of the end of March, the stock still had 53400 shareholders.
According to the Dragon and Tiger list on May 8, for three consecutive trading days, the total amount of the top five sold was only 1.9733 million yuan, with Citic Securities Beijing Anwai Street Business Department and CITIC Securities Nanjing Ssanglong Avenue Business Department seats. At midday on May 10, ST Yongyue was still falling by the limit, with 530000 hands queuing on the price. The share price of ST Yongyue has fallen below the 4 yuan mark.
Data show that ST Yongyue's main business is unsaturated polyester resin and drone business, with a loss of 39.106 million yuan in 2022, 70.0872 million yuan in 2023 and 12.1821 million yuan in the first quarter of 2024.
In the face of the continuous decline in the stock price, ST Yongyue also carried out some verification, saying that except for the matters disclosed earlier, the company, the controlling shareholder and the actual controller did not have material information that should be disclosed but not disclosed. Including but not limited to planning major asset restructuring, share issuance, major transactions, business restructuring, share buyback, equity incentives, bankruptcy restructuring, major business cooperation, introduction of strategic investors and other major matters. The company also did not find that the directors, supervisors, senior managers, controlling shareholders and their concerted actors bought and sold the company's shares during the abnormal fluctuation of the stock trading. Except for the matters disclosed by the company, no other major matters that may have a greater impact on the company's share price have been found.
It is worth noting that according to the announcement on January 23, Jiangsu Huaying, a controlling shareholder of ST Yongyue, has a total of 61.5 million shares in pledge, accounting for 98.94% of the company's total shares and 17.05% of the company's total share capital. Between late January and early February, before the emergence of the concept of low-level economy, the share price of ST Yongyue fell 38%, and the share price fell below 3 yuan. This is obviously disadvantageous to the pledge.
On May 9, ST Yongyue also received a regulatory work letter, dealing with the subject matter of "clear regulatory requirements for the company's buybacks."
According to the announcement on May 8th, ST Yongyue held a board meeting on February 26th and agreed to repurchase RMB common shares (A shares) issued by the company through the Shanghai Stock Exchange system with its own funds of not less than RMB 15 million and not more than RMB 30 million through the Shanghai Stock Exchange system at a repurchase price of no more than RMB 6.00 per share, the repurchase period is from February 26, 2024 to May 24, 2024. As of April 30, 2024, the company has repurchased a total of 16500 shares through centralized bidding transactions, accounting for 0.005% of the company's current total share capital. The transaction price is 4.37 yuan per share, and the total amount paid is 72105 yuan (excluding stamp duty and transaction commission). There is still a distance between the lower line. In the announcement, ST Yongyue said it would continue to implement the buyback plan.
