The richest man in Henan was "planted", and the supervision letter raided! Nearly 87 million profit from illegal short-term trading

　　V View Financial Report | The richest man in Henan was "planted", and the supervision letter raided!

Nearly 87 million profit from illegal short-term trading

　　Sino-Singapore Jingwei, April 8th, for the illegal short-term trading company's convertible bonds, the chairman of Muyuan Co., Ltd. was targeted by supervision!

Illegal short-term trading

　　On the morning of the 8th, the Shenzhen Stock Exchange issued a supervision letter to Qin Yinglin, chairman of Muyuan Foods, saying that as a shareholder, chairman and general manager of Muyuan Foods Co., Ltd. holding more than 5% of the shares, he bought Muyuan Transfer on August 25, 2021. There were 37,855,700 bonds, with an average transaction price of 100 yuan/piece and a transaction value of 3.786 billion yuan; and on February 17, 2022, 5,794,400 Muyuan convertible bonds were sold, with an average transaction price of 115 yuan/piece and a transaction value of 666 million yuan.

　　The Shenzhen Stock Exchange pointed out that the above behavior violated the provisions of Article 1.4 and Article 3.4.1 of the "Stock Listing Rules (Revised in 2022)" of the Exchange.

We hope that you will learn from your lessons and make rectifications in a timely manner to prevent the recurrence of the above-mentioned problems.

At the same time, I would like to remind you that shareholders, directors, supervisors, and senior managers of listed companies should strictly abide by national laws and regulations, as well as the "Stock Listing Rules" and relevant regulations of the Exchange, and buy and sell company stocks and their derivatives in compliance with regulations.

Shenzhen Stock Exchange Regulatory Letter

　　On the evening of April 7, Muyuan shares announced that the company's chairman Qin Yinglin had turned over the entire amount of 86.8881 million yuan of revenue to the company due to the reduction of his holdings of convertible bonds, which constituted a short-term transaction.

In addition, senior management Xu Shaotao's reduction of convertible bonds also constituted a short-term transaction, and the amount of income generated was 69,200 yuan, which was also turned over to the company.

The announcement revealed that Qin Yinglin’s short-term transaction generated a profit of 86.8881 million yuan, and he had turned over all the profit to the company.

　　Muyuan shares stated that Qin Yinglin and Xu Shaotao apologized for the adverse effects caused by this behavior, and sincerely apologized to the majority of investors. In the future, they will strictly abide by relevant regulations to prevent such incidents from happening again.

　　According to media reports, Muyuan Co., Ltd. stated that the chairman’s reduction of convertible bonds was mainly based on the overall consideration of capital planning, and increased cash reserves during the downturn of the industry to reduce the level of debt and improve the ability to resist risks.

This time, the misunderstanding of the rules has led to short-term trading. There is no subjective intention of short-term trading, and there is no purpose of using short-term trading to seek benefits.

Henan's richest man "planted"?

　　According to the data, Qin Yinglin, born in 1965, Chinese nationality, no permanent residency abroad, bachelor degree, graduated from Henan Agricultural University majoring in animal husbandry, the founder of the company, has been in business since 1992, and has more than 20 years of experience in pig breeding and breeding pig expansion. Breeding and commercial pig breeding experience and business management experience.

He is currently the vice chairman of Henan Longda Muyuan Meat Food Co., Ltd., the chairman of CSI Jiaotong Fund Management Co., Ltd., the vice chairman of the board of directors of West Lake University, the executive chairman of the pig branch of China Animal Husbandry Association, and the representative of the 13th National People's Congress. .

　　According to the third quarterly report of Muyuan Stock in 2021, Qin Yinglin and Qian Ying hold a total of 100% of the shares of Muyuan Group, and directly and indirectly hold a total of 53.88% of the company's shares.

　　According to the 2021 Forbes Rich List, Qin Yinglin ranks first in Henan's rich list, and ranks 44th in the overall list with a wealth value of 33.5 billion US dollars.

　　As pork prices continued to fall, the performance of Muyuan shares also fell sharply.

The financial report shows that in the third quarter of 2021, the company's net profit attributable to shareholders of listed companies was a loss of 822 million yuan.

　　The 2021 annual performance forecast disclosed by the company recently shows that the annual operating income is expected to be 77 billion-80 billion yuan, and the net profit attributable to shareholders of the listed company is 6.5 billion-8 billion yuan, a decrease of 70.86%-76.32% over the same period last year. %; It is estimated that the attributable net profit after deduction is 7 billion-8.5 billion yuan, a decrease of 71.9%-76.86% over the same period of the previous year.

　　As of press time, the stock price of Muyuan shares was reported at 53.54 yuan per share, down 1.03%, with a total market value of 284.9 billion yuan.

(Sino-Singapore Jingwei APP)