The share price of Eskay has dropped nearly 28% this year! Private placement over proportional reduction of 0.47% will be fined| Rongxin Sina Finance Sina.com

Original title: Illegal share reduction, private placement fined! 　　

China Fund News reporter Wu Jun

3D Printing Concept Unit Amsky The announcement released on the evening of this Friday said that the shareholder Rongxin Capital did not stop trading when the proportion of shares held by private funds in the company dropped to 5%, and the over proportion reduction was 0.47%, in violation of the Securities Law and other relevant provisions, and Guangdong Securities Regulatory Bureau decided to take administrative supervision measures to order Rongxin Capital to correct.

Fund Jun found that at the end of April, Shenzhen Stock Exchange also issued a supervision letter on the illegal reduction of Rongxin Capital. This private placement "received" part of the shares transferred by the controlling shareholders of Eskay through agreement in January last year, and sold part of the shares in December, but it only disclosed relevant information in April this year.

According to the data, the share price of Eskay fell by nearly 28% this year, with the latest closing price of 9.98 yuan/share, and the total market value of only 1.437 billion yuan.

　　 Illegal reduction of shareholder Rongxin Capital

　　 Issue a ticket under supervision

On the evening of May 17, Eskay announced that the shareholder Rongxin Capital Investment (Shenzhen) Co., Ltd. (on behalf of Rongxin Capital Excellence No. 1 Private Equity Fund) had recently received the Decision on Taking Corrective Measures against Rongxin Capital Investment (Shenzhen) Co., Ltd. issued by Guangdong Securities Regulatory Bureau.

Specifically, Guangdong Securities Regulatory Bureau said that through investigation, as of December 17, 2023, Rongxin Capital Excellence 1 Private Fund managed by Rongxin Capital held 6.53% shares of Eskay. The fund reduced 2.88 million shares of Eskay through block trading on December 18, 2023. After the reduction, it held 4.53% shares of Eskay.

When the proportion of shares held by Rongxin Capital Excellence No. 1 Private Fund in Eskay dropped to 5%, the company did not stop buying and selling Eskay shares, and the proportion of shares held by Rongxin Capital Excellence No. 1 Private Fund decreased by 0.47%. The above behavior of the Company violates the provisions of Paragraph 1 of Article 63 of the Securities Law and Paragraph 1 of Article 13 of the Measures for the Administration of the Takeover of Listed Companies.

Therefore, according to the provisions of Paragraph 2 of Article 170 of the Securities Law and Article 75 of the Administrative Measures for the Acquisition of Listed Companies, Guangdong Securities Regulatory Bureau decided to take administrative supervision measures to order Rongxin Capital to make corrections.

In fact, on April 29 this year, Shenzhen Stock Exchange also disclosed the supervision letter on Rongxin Capital. Shenzhen Stock Exchange said that Rongxin Capital Investment, as the manager of Zhuoyue No. 1 Private Equity Fund, reduced its 2% stake in Eskay through block trading, reducing its shareholding from 6.53% to 4.53%. When the shareholding ratio of the company dropped below 5%, the company did not report and announce in a timely manner in accordance with Article 63 of the Securities Law, Article 13 of the Administrative Measures for the Acquisition of Listed Companies and the relevant provisions of the Guidelines for the Application of Regulatory Rules - Listing Category No. 1, and did not stop selling the shares of Eskay. The above behavior violates the relevant provisions of the GEM Listing Rules (revised in August 2023).

Fund Jun found that last January, Rongxin Capital Management's Zhuoyue No. 1 Private Equity Fund obtained 9.4032 million shares from the controlling shareholder of Aisikai Zhangshu Aishute Enterprise Management Co., Ltd. by means of agreement transfer, accounting for 6.53% of the total share capital of the listed company. At that time, the price of agreement transfer was 10.33 yuan/share, and the total transfer price was 97.1351 million yuan.

According to the Simple Equity Change Report disclosed on the evening of April 28 this year, Zhuoyue 1 Private Equity Fund reduced its holdings of 2.88 million shares through block trading on December 18 last year, with an average price of 13.4 yuan per share, that is, realized 38.592 million yuan.

That is to say, from the buying and selling price, Rongxin Capital earned from this wave of reduction in December last year, but violated the rules in operation.

According to the information on the website of the Fund Industry Association, Rongxin Capital Investment (Shenzhen) Co., Ltd. was established in April 2016, with a registered capital of 10 million yuan, accounting for 67% of the total paid in capital; However, the company has only five full-time employees, and only two private funds have been filed, including Zhuoyue No. 1 private fund. At present, the company's management scale is within 500 million yuan.

　　 From institutions competing for "takeover" to reduction of holdings

　　 ASK's share price fell nearly 28% this year

According to relevant information, Eskay was listed on the GEM of Shenzhen Stock Exchange in 2016 and is a high-tech enterprise committed to the research and development of core industrial printing technology and multi technology integration. At present, the leading product is computer direct plate making machine (CTP), which can provide offset CTP to flexographic engraving machine, from small format to large format. It is one of the CTP manufacturers with a complete product line in China.

According to the annual report and quarterly performance data disclosed in April this year, Eskay will achieve an operating income of 159 million yuan in 2023, up 22.90% year on year; The net profit loss attributable to the parent company was 6.0358 million yuan, which was larger than the loss in the same period of the previous year. The company said that the main reason for the revenue growth in 2023 was the continuous breakthrough in the research and development of 3D printing products, and the sales of 3D printing equipment increased significantly compared with the previous period.

In the first quarter of 2024, Eskay realized an operating income of 33.9422 million yuan, a year-on-year increase of 35.67%; The net profit loss attributable to the parent company was 976900 yuan.

Fund Jun noticed that while issuing the announcement of agreement transfer last January, Eskay also issued a number of announcements of changes in the company's equity. First, the company's shareholder DT CTP Investment Limited plans to transfer 10% of its shares to Tiancheng Qiandao No.1 Private Equity Fund, Yanfeng Sunflower After the transfer of No. 1 private equity fund, the two private equity funds held 5% of the company's shares respectively, and the shareholding ratio of DT CTP dropped to 1.29%.

Then, Shanghai Carbon based Enterprise Development Co., Ltd. (hereinafter referred to as Carbon based Development) plans to subscribe for 43.2 million additional shares of Eskay for 367 million yuan, accounting for 23.08% of the total share capital of listed companies after the issuance. After the completion of this fixed increase, the controlling shareholder will be changed from ASOT to Carbon based Development, and the actual controller will be changed from Li Mingzhi, Zhu Fan, Tang Hui, etc. to Liu Haofeng.

But soon after these announcements were released, Eskay received a letter of concern from Shenzhen Stock Exchange. In August last year, Eskay issued an announcement, deciding to stop issuing shares to Carbon based Development.

Fund Jun also found that, according to the information disclosed in March this year, two private equity funds, Tiancheng Qiandao 1 and Yanfeng Sunflower 1, have also reduced their holdings of Eskay shares slightly since then, reducing the number of shares held to below 5%.

Judging from the performance of the stock price in the past year, Eskay once rose to 16.90 yuan/share in July last year, but the stock suffered a wave of significant adjustments at the beginning of this year, and once fell to 5.80 yuan/share. Since then, the stock price has fluctuated sharply. By the end of May 17, Eskay had closed at 9.98 yuan per share, still down nearly 28% this year, and its latest total market value was only 1.437 billion yuan.