On June 21, the financial sector reported that A-shares are a world of wonders.
Jia Yueting's operation of "cutting leeks" on LeTV has smelled of A-shares for many years, but now some people have learned Jia Yueting's routine of "cutting leeks" in a similar way, and even intend to replicate it in A-shares. However, he accidentally offended the public and was severely attacked by Shenzhen Stock Exchange and shareholders.
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On the evening of the 20th, AI Bull Kunlun Wanwei announced that the shareholder Li Qiong planned to reduce his shareholding by no more than 35.87 million shares, that is, no more than 3% of the company's total share capital. Based on the closing price of 62.93 yuan/share on the 20th day, if the ceiling is reduced, the cash out amount will reach 2.257 billion yuan. Li Qiong currently holds 132 million shares, accounting for 11.06% of the total equity of Kunlun Wanwei. The reason for reduction is personal fund arrangement. The reduction price range will be determined according to the market price.
Kunlun Wanwei also announced that in order to support the long-term development of the company's AGI and AIGC businesses, Li Qiong agreed to lend more than 50% of the after tax income from this share reduction to the company, with an annual interest rate of 2.5% and a loan term of three years.
Li Qiong has a lot to offer. Li Qiong is the ex-wife of Zhou Yahui, the actual controller of Kunlun Wanwei. They divorced in 2016. At that time, their divorce caused a sensation in A-shares. At that time, it was known as the most expensive divorce case of A-shares. The stock reduction was obtained when they divorced and divided their property in 2016.
On September 12, 2016, Kunlun Wanwei announced that Zhou Yahui and Li Qiong had reached an agreement on the share split, and Zhou Yahui split and transferred his 207 million shares of Kunlun Wanwei directly held to Li Qiong, which was worth more than 7 billion yuan at that time. Since then, Li Qiong has reduced his holdings several times and realized more than 1 billion yuan.
The reduction plan looks "perfect", but there are many slots
Li Qiong's seemingly "perfect" shareholding reduction plan actually has many slots, which even reminds us of Jia Yueting's routine of trading LeEco.
First, "under the guise of borrowing", high level reduction and cash out
Since this year, with the AI concept, the share price of Kunlun Wanwei has been continuously hyped, with an increase of nearly 400% since the beginning of the year. Even though today it has suffered a "20cm" slump, the share price has still risen by 250% this year. At such a high position, the market is quite sensitive to any reduction and cash out.
According to Li Qiong's seemingly "perfect" shareholding reduction plan, 50% of the after tax income is lent to the listed company. Assuming that 2 billion yuan is cashed out and 1 billion yuan is lent to the company, the annual interest rate is 2.5%, that is, 25 million yuan/year, and the interest will never be enough for life...
Maybe Li Qiong also realized the problem. Li Qiong found a "sufficient" reason to lend to listed companies.
This reminds us of Jia Yueting's operation of reducing his shareholding in LeEco.
When Jia Yueting reduced his shareholding in LeTV, he also had the same reason - he would lend the money he reduced to the listed company and lend all of his income to the company as working capital. The loan would be used for the company's daily operations. The company could withdraw and use it according to the needs of working capital within the specified period. The loan period would not be less than 60 months, free of interest. LeTV explained at that time that the purpose of this move was "to ease the company's capital pressure and meet the company's daily operating capital needs".
Some netizens even teased: respect teacher Jia Yueting?
Second, the relationship between Li Qiong and Zhou Yahui
In 2016, Li Qiong and Zhou Yahui divorced, and their property has been divided. However, the relationship between the two people is not "old age and death do not communicate", but rather very close capital exchanges. After getting divorced, Li Qiong still lent half of the capital she reduced to her ex husband's company and charged 2.5% interest a year.
This relationship is too complicated.
Shenzhen Stock Exchange sends a letter of concern to Kunlun Wanwei
Li Qiong's operation directly angered Shenzhen Stock Exchange. The concern letter issued by Shenzhen Stock Exchange to Kunlun Wanwei directly points to two core issues:
1. Whether Kunlun Wan and relevant personnel manipulate the share price with the help of market hot spots and cooperate with Li Qiong to reduce their holdings, and whether there are other cases of illegal trading of the company's shares.
2. Whether Li Qiong's loan constitutes a commitment, whether it is an irrevocable commitment, whether there are other agreements or potential arrangements with the company and other stakeholders, and specify the way and time of performing the loan.
Shenzhen Stock Exchange also required Kunlun Wanwei to verify and explain whether the company's early information disclosure, interaction and easy reply and other relevant contents are true, accurate and complete, and whether there is any misleading situation for investors.
The concern letter of Shenzhen Stock Exchange is not groundless!
On the evening of June 14, Kunlun Wanwei, a big model of deep artificial intelligence, announced that it planned to acquire all the shares of Singularity AI at a valuation of 1.714 billion yuan through its holding subsidiary Star Group, which was equivalent to the Singularity Intelligence Source that indirectly controlled the company's share price before.
According to the announcement, Singularity AI is committed to achieving general artificial intelligence. At present, it focuses on the research and development of natural language large-scale pre training models and developer APIs. Its main products and services include general developer APIs, chat robots and knowledge extraction.
At present, it and Kunlun Wanwei jointly launched the "Tiangong" 3.5, a double trillion level big language model benchmarking ChatGPT, which has been invited to test on April 17, 2023.
It is worth noting that Kunlun Wanwei previously said that the controlling shareholders, shareholders holding more than 5% of shares, Dong Jiangao and their immediate relatives had no plan to reduce their shares before June 15, 2023. As a result, Zhou Yahui's ex-wife, Li Qiong, announced the reduction within a week.
Li Qiong and Kunlun Wanwei worked together and were finally hit by the capital market. At the opening today, Kunlun Wanwei opened 10% lower, then weakened in shock. By the end of the day, it had been blocked by a large number of selling orders, and the final closing fell 20% to 50.34 yuan/share. RMB 10.55 billion was traded throughout the day.
Li Qiong's 2.2 billion yuan share reduction plan was discounted by the market in just four hours.
Source: financial sector
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