Current affairs commentator Xiao Ruoyuan sold Yihuan Finance (8079), and the buyer's identity was revealed as "Cordyceps King" Chen Ende.
The stock resumed trading today (11th).
In addition to the eye-catching share price, Xiao Ruoyuan's 30% shares, priced at only 6.58 million yuan, are also attracting attention.
Some penny stock experts bluntly said that the price is "surprisingly low", and it is estimated that the new owner will take action after "settled", but penny stocks are volatile, and retail investors should be careful when entering the market.
Xiao Ruoyuan recently sold off the finances for easy repayment at a price of 6.58 million yuan.
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Analysis says the price is "surprisingly low"
Xiao Ruoyuan sold Yihuan Finance (8079) at a price of 0.08 yuan per share, which was a 20% discount of 0.1 yuan before the trading suspension of Yihuan Finance. However, it did not prevent the stock from resuming trading today. It still doubled to 0.2 yuan, and the turnover was also 13.1 million yuan, an astonishing increase.
Retail investors responded enthusiastically, raising the question of why Xiao Ruoyuan "sold".
As a matter of fact, he sold 34.24% of the shares at 0.08 yuan per share, cashing out 6.58 million yuan. Based on this calculation, the entire Yihuan Finance is only worth about 21 million yuan.
Further open the interim annual report of Yihuan Finance. Although the company lost nearly 10 million yuan in the first half of the fiscal year, its net asset value (NAV) was as high as 258 million yuan. In other words, Xiao Ruoyuan sold shares at a discount.
Liang Jiewen, an investment manager of Honggao Securities, known as a "penny stock expert", said bluntly that the transaction price was "surprisingly low", but it is difficult for the outside world to speculate on the reason.
He went on to say that if you really want to guess the reason, there are two possible explanations: First, although the company’s NAV exceeds 250 million yuan, Yihui Finance operates the “Caizai” business and has a lot of loans receivable. If it becomes a bad debt, the NAV will shrink greatly.
Second, if you look at the "conspiracy theory", there is a chance that it is a transaction between friends. Although the price is low, it can be "helped" in other places.
Due to this transaction, the new owner needs to make an all-purchase offer to buy shares from other shareholders at the same price. If the bid is increased, the acquisition cost and capital will increase. "Currently at 8 cents per share, I believe that many retail investors are willing to sell shares." Liang Jiewen estimated.
Liang Jiewen believes that the selling price of Yihuan Finance is "surprisingly low", but it is difficult for the outside world to guess the reason.
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Although it only holds about 30% of the shares, the new owner has a strong position
There is no doubt that Chen Ende's "sun price" can buy listed companies, but the fly in the ointment, Yihuan Finance is listed on the Growth Enterprise Market.
In recent years, the ChiNext Board has been "rectified", transactions have been sparse, the financing function has declined, and the difficulty of transferring to the main board has increased, making it less attractive.
Liang Jiewen agrees with this statement, but thinks that this may be a short-term phenomenon. "Chen Ende should take a long-term view when he joins the board. The key is that he can buy enough.
After becoming the owner of Yi Huan Finance, Chen Ende became a major shareholder, but he only holds more than 30%, which is not an absolute control. In addition, the second largest shareholder, Bai Yu, who lives in the mainland, also holds 10.86%, and his influence should not be underestimated.
Looking through the information, Yihuan Finance was caught in a shareholder infighting in 2020, and Bai Yu requested that Xiao Ruoyuan and others be banned from placing shares to securities companies.
Liang Jiewen believes that there is no permanent enemy in the market, everyone is "seeking money", and Bai Yu is not necessarily a hindrance in the current style of new personnel.
He also said that although Chen Ende holds less than half of the shares, his position is already solid. Buy enough and kick it away!"
When asked about the investment value, Liang Jiewen emphasized that penny stocks are sparsely traded on weekdays, their stock prices fluctuate greatly, and their investment prospects are general. After "sit down", Fang saw that the company was making big moves.
According to the reporter's information, the "Cordyceps King" will meet with reporters on the matter of becoming the owner, and he may explain more plans at that time, and we will wait and see.
"Cordyceps King" Chen Ende held the pet NFT conference of his group. Li Jiaxin, who was originally scheduled to be invited to attend, did not show up. Cai Jie, who is known as "replica Ali", finally came to the top.
(Photo by Liang Biling)