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"No money": LETV Fund said it would continue to sell until clearance

via:CnBeta     time:2018/2/11 8:43:54     readed:268

In the 12 consecutive falls, the music network in February 8th early in the early market in the early February 8th, there was an influx of more than 2 billion yuan, once more than 7%. At the end of the year, the stock price of music network rose 5.39%, 5.08 yuan per share, the turnover was 4 billion 110 million yuan, the turnover rate was 29.06%, and the amplitude was 21.66%.

An economic watch reporter interviewed a fund owner who held the music network to learn that the company has sold some of the shares on the day of the company's Fund.

On February 9th, Letv's net opened with a limit, and was prized by funds to open the board at the beginning of the session, and then the share price was once pulled to 4.92 yuan in the day of shock, but at the end of the day it fell again. As of the end of the day, the share price of Letv net was 4.57 yuan, with a transaction amount of two billion four hundred and seventy-five million yuan. Turnover rate 17.62, about 250,000 hands closed the limit.

The above fund said to reporters that it will continue to sell the shares of the music network until the clearing, and will not take the initiative to hold the stock.

According to the information of the Shenzhen Stock Exchange, third seats and fifth seats in the top five seats sold by music network in February 8th were sold for 111 million 411 thousand and 600 yuan and 95 million 109 thousand and 400 yuan respectively.

Two day release game

In fact, the music network has been released in February 7th, and the market has also been expected to open the net.

When the music crisis is unsolved, who is stirring the face?

According to the data of the transaction, the whole day business of music network was close to 400 million yuan, and the most popular purchase was 14 million 470 thousand and 100 yuan, which was 30 thousand yuan from the Hangzhou Longjing Road Securities Business Department of the Orient Securities Company, which accounted for 3.65% of the total turnover of the 30 thousand hands. From the data point of view, yesterday, the bottom of the network is more scattered, not a large number of institutional funds to buy music network.

By the end of February 8th, the net sold 822 thousand and 400 hands, and the transaction amount was a large amount to 396 million yuan. As the net of music turned red, the money from the bottom of the day was floating.

From the list of sales, the intention to sell in February 8th is more obvious. The largest number of seats sold is the Sales Department of Beijing Everbright Securities East Zhongjie street, which sells for 62 million 417 thousand and 100 yuan, with a turnover of about 130 thousand hands, accounting for 15.75% of the total turnover. Guotai Junan Securities Shenzhen Yitian Road business department followed by selling the amount of 58 million 254 thousand and 100 yuan, the seat in January 24th also appeared on the music network to sell the list.

Information from today's trading shows that the top five are all business seats. Most of them are Zhongtai securities Dezhou 38 Middle Road Sales Department, buying 135 million 562 thousand and 800 yuan, followed by Zhongxin securities Shenzhen Shennan Avenue business department seat, buying net 87 million 233 thousand and 600 yuan.

Sell five seats sold a net total of 548 million 531 thousand yuan, of which the first two are GF Securities Shenzhen Business Department of Haitong Securities Shennan Road and Shanghai Jianguo Road Business Department of seats, respectively, sold a net 131 million 350 thousand and 500 yuan and 115 million 354 thousand and 500 yuan; third and fifth of the institutions dedicated seats were sold 111 million 411 thousand and 600 yuan and 95 million 109 thousand and 400 yuan.

Ask for clearance

In fact, LETV suspended for nearly a year later, in January 24, 2018, LETV resumption, the opening day is over 6 million 500 thousand hand large single sealed daily limit of 13.80 yuan, a single amount of up to 9 billion 100 million; all day long turnover of 33 million 520 thousand yuan, the turnover rate is only 0.10%. On the 25 day, the music network continued to die and drop, close to the close of nearly 850 million shares of the huge seal.

According to the quarterly report, as of the end of the three quarter of 2017, a total of 34 public funds held the music network, with a total of 123 million shares. According to the valuation data of the fund company at that time, the share value of this part has reached 1 billion 407 million yuan. Compared to the peak period of nearly 200 funds, most fund managers have been in the second half of 2016 and the first quarter of 2017 clearing style reduction music network.

And during the suspension of Letv, the fund companies that hold the shares have lowered their valuation three times, to the lowest of about 3.91 yuan, which is equivalent to 13 successive limits compared with the stock price before the suspension of Letv.

Among them, the public fund holdings LETV market capitalization accounted for more than 2% of the net value of the fund has 20, 5 of the fund's holdings of more than 100 million yuan LETV, which are strategic emerging industries in the post, the post in the information industry, the rich gem A, post core competitiveness and yifangda gem ETF, were held the market value of 343 million yuan, 333 million yuan, 158 million yuan, 123 million yuan and 122 million yuan.

The Economic Observer reporter, had held LETV fund managers said must be on sale, because of its being control departments require the company to wind and valuation adjustments, are required to hold hundreds of thousands of LETV stock at low prices to sell guadan.

There is also a passive index fund owned by LETV. These passive index funds with gem as the tracking target will also clear up the shares of LETV before stopping. "We had been hanging the list before, but we couldn't sell it. The volume of trading opened in February 8th, and we sold some of the net stock." The fund told reporters that although the company did not request the compulsory liquidation of music network, it would continue to sell its funds that owned music network, and would no longer take the initiative to hold the stock of LETV.

The first day of the ban

It is worth noting that, in February 8th, it is also a few fund companies and cattle Sanzhang Jianping LETV shares set by lifting the day.

The 7 day of funds into the prying plate, active market transactions, the 8 day of opening up, market participants also doubt whether to limit the sale of shares listed in circulation to create atmosphere.

2016, LETV implementation of growth, the post fund, Harvest Fund, CAITONG fund and Zhang Jianping 4 shareholders to participate in a given increase, the number of shares subscribed for a total of approximately 107 million shares, the subscription price is 45.01 yuan / share, but LETV in 2017 August the implementation of the 10 to 10 shares of $0.28 gaosongzhuan. Currently has 4 shareholders together hold 213 million shares LETV set by shares, these shares are today formally to lift restrictions on sale. The announcement shows that the limit of the ban on the sale of shares is 213 million shares, accounting for 5.35% of the total share capital of the company.

In the 8 day closing price of 5.08 yuan, at present the three fund companies and Sanzhang Jianping cattle held LETV market value of only 1 billion 82 million yuan, and in 2016 will increase the cost of 4 billion 800 million yuan shares LETV when compared to Fukui 3 billion 718 million yuan. Although 8 LETV opened up, on such a huge deficit is an utterly inadequate measure.

And this limited sale of the ban, the free departure of the opportunity, if these funds are chosen to sell off the field as soon as possible, or to bring greater financial pressure on the music network.

In this regard, said CAITONG fund for Economic Observer online reporter, will consider the stock market trend analysis, value judgment, portfolio performance, disk mobility, multiple factors such as product maturity, carefully formulated reduction strategy.

February 8th, LETV issued on the abnormal fluctuations in stock trading and risk warning announcement, said the company's stock average exchange rate for 1 consecutive trading days and the first 5 trading days average turnover ratio of more than 30 times, and the cumulative turnover of more than 20%, belonging to the abnormal fluctuations in the stock. The turnover date of the company's stock was 29.06% on the day of February 8th. After the company's confirmation, more than 5% of the company's shareholders did not buy and sell the company's stock during the abnormal fluctuation of stock trading. The company also had no important matters that should be disclosed, but it didn't disclose or affect stock price information.

The announcement said the company will continue to focus on Jia Yueting changes in shares and timely disclosure obligations. If the shares of Jia Yueting related to judicial enforcement and implementation of equity pledge agreement trigger reduction behavior, be in accordance with the relevant regulations of listed companies notice the reduction plan, listed companies to the stock exchange for the record and shall be announced.

The evening of February 8th, the Shenzhen Stock Exchange issued a really good 'LETV' stock related risk warning work notice "requirements of each member unit" through a variety of channels to effectively prompt the risk prompt and timely check the customer information disclosure notice issued by the listed company, to remind customers pay attention to relevant risk, prudent investment".

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