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亿兆富翁
2021-05-16

Private equity big V broke the news that market value management is shady, these 9 companies should be troubled

“这样的利益链基本上是资本市场公开的秘密了，大家心照不宣，但没有人会说出来”

Private equity big V broke the news that market value management is shady, these 9 companies should be troubled

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":192098487,"tweetId":"192098487","gmtCreate":1621128358849,"gmtModify":1704353070739,"author":{"id":3575451819389849,"idStr":"3575451819389849","authorId":3575451819389849,"authorIdStr":"3575451819389849","name":"亿兆富翁","avatar":"https://static.tigerbbs.com/d688c91a5f00d7bc768bc23b304da0a2","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":1,"individualDisplayBadges":[],"fanSize":3,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>?</body></html>","htmlText":"<html><head></head><body>?</body></html>","text":"?","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/192098487","repostId":2135989548,"repostType":4,"repost":{"id":"2135989548","kind":"highlight","pubTimestamp":1621127444,"share":"https://ttm.financial/m/news/2135989548?lang=en_US&edition=fundamental","pubTime":"2021-05-16 09:10","market":"sh","language":"zh","title":"Private equity big V broke the news that market value management is shady, these 9 companies should be troubled","url":"https://stock-news.laohu8.com/highlight/detail?id=2135989548","media":"虎嗅","summary":"“这样的利益链基本上是资本市场公开的秘密了，大家心照不宣，但没有人会说出来”","content":"A private placement<a href=\"https://laohu8.com/S/WB\">Weibo</a>The listed company that Big V broke the news was suspected of \"sitting in the village\" case, which attracted attention from all walks of life.On May 9, Sina Weibo's big V \"Ye Fei Private Equity Champion Speaks Straight\" posted that A-share listed companies<a href=\"https://laohu8.com/S/603709\">Zhongyuan Home</a>(603709. SH) found the order party in the name of market value management. He acted as an intermediary to match the agency to take over the order, but afterwards, the order party defaulted on the debt and failed to pay the balance payment, resulting in him being urged by the next family to demand millions of balance payments.Sina Weibo authentication shows that the authenticator corresponding to this account is \"Ye Fei, general manager of Huaibei Yitian Investment Co., Ltd.\".The incident has continued to ferment recently. Since then,Ye Fei continued to break the news that 18 similar listed companies will be exposed in the future.Caijing reporters summarized their recent public remarks and found that Ye Fei has exposed the names of nearly half of the companies. On May 14, a number of listed companies named by Ye Fei issued clarification announcements.\"These are all hidden rules that everyone in the industry knows. It's just that when others are cheated, they value peace and dare not break the foe to death. Maybe it's a personality problem. I don't like being cheated. I am a very real person,\" Ye Fei said in his Weibo.\"The so-called market value management is a'routine 'operation in the industry.\"A senior person in Shanghai's private equity industry told a reporter from Caijing, but because the operation is suspected of breaking the law, he has never accepted this kind of business.\"Such an interest chain is basically an open secret in the capital market. Everyone understands it tacitly, but no one will say it.\"Investment bank veterans also told Caijing reporters.In the live broadcast on the evening of May 14, Ye Fei also directly revealed that one of the takeovers of Zhongyuan Home Furnishing this time is Minsheng Securities.In this regard, an insider of Minsheng Securities told Caijing that it is inconvenient to disclose the position information of the investment department to the outside world.In response to related issues, the China Securities Regulatory Commission responded on May 14th that it had interviewed the company and relevant parties, and started the verification procedure, and said that once relevant illegal activities were found, it would be investigated to the end.1. Private equity big V said it would break the news that 18 listed companies \"sit in the village\"On May 9, Ye Fei posted on Weibo that he was deceived by the market value management party found by Zhongyuan Home Furnishing.\"Around March 31, the market side approached me through several middlemen, gave me a deposit of less than 10%, and asked some public fund managers and brokerage asset managers of my next family to buy the shares of Zhongyuan Home Furnishing, and then it kept falling to the limit, and the market side Pu Feidi defaulted on his debt and refused to pay the balance.\" Ye Fei said: \"I have been contacting the middlemen for the next two months, and they all shirked and refused to take responsibility.\"Ye Fei also said that the losses of this public offering and securities firm asset management are about several million. During this time, his next family has been asking him for millions of final payments.According to public information, Zhongyuan Home Furnishing is a sofa factory, mainly engaged in the design, production and sales of functional sofas. Its operating income in 2020 will be 1.162 billion yuan, and its net profit will be 42 million yuan. As of May 14, the company's total market value was 1.5 billion yuan.In response to Ye Fei's revelation, Zhang Yun, secretary of the board of directors of Zhongyuan Home Furnishing, replied that the online revelation was not true. The company had no business dealings with Ye Fei and did not participate in any market value management behavior. This matter has been filed with Zhejiang Securities Regulatory Bureau and Shanghai Stock Exchange.The aforementioned senior investment bank person told the Caijing reporter: \"This time it was exposed, IIt is estimated that due to the plunge in the stock price of Zhongyuan Home Furnishing, there is a problem with the capital chain, and the promises made to the middlemen and institutions cannot be fulfilled, or there is a problem of profit distribution between the shareholders of the listed company upstream of the interest chain, the market party and the middlemen. Good, implicate downstream institutions。”He also revealed the main details of the relevant industrial chain to Caijing reporters.It said that from the perspective of the purpose of shareholders finding an offer, there are generally several kinds: first, raise the stock price to cash out; The second is to evade the sales restrictions of the new regulations on shareholding reduction. For example, the transferee needs to lock in for 6 months and needs to find someone to take over; Third, for various reasons, it is necessary to find someone to hold it on behalf of you. As an intermediary, this is the most common operation.He further revealed that in terms of profit sharing, the general shareholders' meeting of listed companies will cover the bottom of the trader, and the trader can get: advance funds + interest, and the annual interest rate of the capital cost is about ten%; In order to prevent the stock from falling, the trader will charge a 30% margin, while Ye Fei only charges 10%, which is indeed a bit less. Now this ratio cannot be done outside; If the shareholder stock of a listed company has excess returns, the trader can get a share, depending on how the two parties talk.\"A middleman like Ye Fei can get a little introduction fee, which is collected from the trader.\"The aforementioned senior investment bank told Caijing reporter.The above-mentioned case of suspected sitting in the village exposed by Ye Fei involves listed companies, market parties, middlemen, takeover parties, etc.Regarding the takeover party this time, Ye Fei bluntly stated in the live broadcast on May 14 that one of them was Minsheng Securities, which took over the order for 15 million yuan, and the other did not buy because the stock price of Zhongyuan Home Furnishing fell by the limit on March 31.Caijing reporter noticed that in the list of the top ten tradable shareholders of Zhongyuan Home in the first quarter of this year, there were as many as 9 new shareholders, one of which was Minsheng Securities, which held 552,300 shares at the end of the first quarter, with a market value of 14.5 million yuan. It is similar to the amount of 15 million yuan taken over by an institution that Ye Fei previously broke the news.<img src=\"https://static.tigerbbs.com/4a8f2ce82c234ffac6a7fc1cac23a886\" tg-width=\"690\" tg-height=\"1434\" referrerpolicy=\"no-referrer\">Caijing reporter asked Minsheng Securities for verification on this matter, but as of press time, no positive response has been received.\"Take the so-called'market value management 'interest chain as an example. Shareholders find the trader, and the trader will find institutions such as private equity, public equity or securities firm asset management plans through intermediaries.\" The aforementioned senior investment banker told Caijing reporters that institutions here have two roles,One is that because the trader does not have enough funds, he pulls the institution to \"lift the sedan chair\" together, and the other is to act as the final takeover of the entire chain, that is to say, the trader sells the shares of listed companies to the institution.He also revealed that, generally speaking, there are more people looking for private equity traders, because private equity operations are more flexible and unregulated; Public offerings will be strictly restricted. At the same time, the company will definitely not receive benefits for the asset management of public funds or securities firms. Generally, the fund managers who operate will receive benefits from the traders.Ye Fei has recently continued to speak out in his Weibo, saying that he will reveal the relevant behaviors of 18 listed companies. At present, it has named 8 companies on Weibo, exceptBesides Zhongyuan Home Furnishing, it also includes<a href=\"https://laohu8.com/S/002363\">Longi Machinery</a>(002363. SZ)、<a href=\"https://laohu8.com/S/002387\">Visionox</a>(002387. SZ)、<a href=\"https://laohu8.com/S/002965\">Xiangxin Technology</a>(002965. SZ)、<a href=\"https://laohu8.com/S/300503\">Haozhi Electromechanical</a>(300503. sz)、<a href=\"https://laohu8.com/S/603966\">Frantek</a>(603966. SH)、<a href=\"https://laohu8.com/S/603377\">Oriental fashion</a>(603377. SH)、<a href=\"https://laohu8.com/S/603680\">Jinchuang Group</a>(603680. SH).2. The regulatory authorities have intervened, and the person who broke the news has been subject to administrative supervision measuresYe Fei broke the news that the listed company was suspected of \"sitting in the village\" and defaulting on its debts, which caused a shock in the industry. The incident has also attracted the attention of regulators.In response to the relevant situation, on May 14th, the China Securities Regulatory Commission made a public response in official website.The China Securities Regulatory Commission said that it attaches great importance to media reports. On May 13th, the Shanghai Stock Exchange started the investigation of relevant accounts, and issued a \"Supervision Work Letter\" to the company on the afternoon of the same day, requiring the company to conduct self-examination and truthfully disclose relevant information. Our dispatched office has interviewed the company and relevant parties and started the verification procedure.At the same time, the China Securities Regulatory Commission stated that it has always adhered to a \"zero tolerance\" attitude towards market manipulation and insider trading in the name of market value management, and severely investigated and dealt with in accordance with the law. Those suspected of committing crimes will be promptly transferred to public security organs. Once listed companies and actual controllers, private equity funds, Public Offering of Fund and other relevant institutions are found to engage in or participate in relevant illegal activities, the CSRC will investigate to the end, severely punish them according to law, and announce them to the public in a timely manner.\"The so-called market value management of listed companies involves at least two major violations of laws and regulations: insider trading and stock price manipulation.\"The aforementioned senior person in Shanghai's private equity industry told Caijing reporters.He further explained that investment institutions responsible for market value maintenance must know the details of listed companies, and know when and what kind of positive or negative information the listed companies will produce. Then investment institutions perform corresponding operations on the disk, which actually constitutes insider trading.As for manipulating the stock price, after receiving the corresponding news, the investment institution pulls it up, maintains the stock price fluctuating at a high level, sells it, etc. This belongs to the category of sitting in the village, and it also belongs to manipulating the stock price, which is definitely a violation of the securities law.On the other hand, Ye Fei, the whistleblower this time, is suspected of being punished by the CSRC.On the official website of the China Securities Regulatory Commission, in 2015, an announcement was issued to impose administrative penalties on five cases of manipulating the securities market, involving a person named Ye Fei.The announcement shows that Ye Fei is suspected of manipulating \"Xinwei Group\" \"<a href=\"https://laohu8.com/S/600495\">Jinxi axle</a>”“<a href=\"https://laohu8.com/S/600418\">Jianghuai Motors</a>”“<a href=\"https://laohu8.com/S/002227\">Aotexun</a>”“<a href=\"https://laohu8.com/S/300052\">Zhongqingbao</a>\"And other 5 stock prices. From May 13 to June 30, 2015, it concentrated its capital advantage to buy the above five stocks continuously in the late trading stage, which affected the price and trading volume of related stocks, and then sold them in reverse direction, making a profit of 6.6379 million yuan.At that time, the China Securities Regulatory Commission punished Ye Fei: confiscating Ye Fei's illegal income of 6.6379 million yuan and imposing a fine of 19.9137 million yuan.Ye Fei's private equity company Huaibei Yitian Investment Co., Ltd. and himself were also subject to administrative supervision measures by the CSRC in August 2016.According to the relevant announcement of the China Securities Regulatory Commission, in the special inspection of private equity institutions, 65 private equity institutions have general violations such as public offering, failure to custody fund property as agreed in the contract, non-compliance with the investment direction, non-compliance with the contract, failure to disclose information as agreed in the contract, and lack of qualifications for employees of securities private equity institutions. Ye Fei's company is among them.Caijing reporter noticed that on Weibo, someone reminded him:\"You are beginning to become notorious in the industry.\" Many investors also supported Ye Fei's behavior online, calling it \"the beginning of the crackdown on criminals in China's stock market.\"On May 15th, Ye Fei announced that Weibo would continue to break the news next week.","source":"highlight_huxiu","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Private equity big V broke the news that market value management is shady, these 9 companies should be troubled</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPrivate equity big V broke the news that market value management is shady, these 9 companies should be troubled\n</h2>\n<h4 class=\"meta\">\n\n虎嗅2021-05-16 09:10\n\n</h4>\n</header>\n<article>\nA private placement<a href=\"https://laohu8.com/S/WB\">Weibo</a>The listed company that Big V broke the news was suspected of \"sitting in the village\" case, which attracted attention from all walks of life.On May 9, Sina Weibo's big V \"Ye Fei Private Equity Champion Speaks Straight\" posted that A-share listed companies<a href=\"https://laohu8.com/S/603709\">Zhongyuan Home</a>(603709. SH) found the order party in the name of market value management. He acted as an intermediary to match the agency to take over the order, but afterwards, the order party defaulted on the debt and failed to pay the balance payment, resulting in him being urged by the next family to demand millions of balance payments.Sina Weibo authentication shows that the authenticator corresponding to this account is \"Ye Fei, general manager of Huaibei Yitian Investment Co., Ltd.\".The incident has continued to ferment recently. Since then,Ye Fei continued to break the news that 18 similar listed companies will be exposed in the future.Caijing reporters summarized their recent public remarks and found that Ye Fei has exposed the names of nearly half of the companies. On May 14, a number of listed companies named by Ye Fei issued clarification announcements.\"These are all hidden rules that everyone in the industry knows. It's just that when others are cheated, they value peace and dare not break the foe to death. Maybe it's a personality problem. I don't like being cheated. I am a very real person,\" Ye Fei said in his Weibo.\"The so-called market value management is a'routine 'operation in the industry.\"A senior person in Shanghai's private equity industry told a reporter from Caijing, but because the operation is suspected of breaking the law, he has never accepted this kind of business.\"Such an interest chain is basically an open secret in the capital market. Everyone understands it tacitly, but no one will say it.\"Investment bank veterans also told Caijing reporters.In the live broadcast on the evening of May 14, Ye Fei also directly revealed that one of the takeovers of Zhongyuan Home Furnishing this time is Minsheng Securities.In this regard, an insider of Minsheng Securities told Caijing that it is inconvenient to disclose the position information of the investment department to the outside world.In response to related issues, the China Securities Regulatory Commission responded on May 14th that it had interviewed the company and relevant parties, and started the verification procedure, and said that once relevant illegal activities were found, it would be investigated to the end.1. Private equity big V said it would break the news that 18 listed companies \"sit in the village\"On May 9, Ye Fei posted on Weibo that he was deceived by the market value management party found by Zhongyuan Home Furnishing.\"Around March 31, the market side approached me through several middlemen, gave me a deposit of less than 10%, and asked some public fund managers and brokerage asset managers of my next family to buy the shares of Zhongyuan Home Furnishing, and then it kept falling to the limit, and the market side Pu Feidi defaulted on his debt and refused to pay the balance.\" Ye Fei said: \"I have been contacting the middlemen for the next two months, and they all shirked and refused to take responsibility.\"Ye Fei also said that the losses of this public offering and securities firm asset management are about several million. During this time, his next family has been asking him for millions of final payments.According to public information, Zhongyuan Home Furnishing is a sofa factory, mainly engaged in the design, production and sales of functional sofas. Its operating income in 2020 will be 1.162 billion yuan, and its net profit will be 42 million yuan. As of May 14, the company's total market value was 1.5 billion yuan.In response to Ye Fei's revelation, Zhang Yun, secretary of the board of directors of Zhongyuan Home Furnishing, replied that the online revelation was not true. The company had no business dealings with Ye Fei and did not participate in any market value management behavior. This matter has been filed with Zhejiang Securities Regulatory Bureau and Shanghai Stock Exchange.The aforementioned senior investment bank person told the Caijing reporter: \"This time it was exposed, IIt is estimated that due to the plunge in the stock price of Zhongyuan Home Furnishing, there is a problem with the capital chain, and the promises made to the middlemen and institutions cannot be fulfilled, or there is a problem of profit distribution between the shareholders of the listed company upstream of the interest chain, the market party and the middlemen. Good, implicate downstream institutions。”He also revealed the main details of the relevant industrial chain to Caijing reporters.It said that from the perspective of the purpose of shareholders finding an offer, there are generally several kinds: first, raise the stock price to cash out; The second is to evade the sales restrictions of the new regulations on shareholding reduction. For example, the transferee needs to lock in for 6 months and needs to find someone to take over; Third, for various reasons, it is necessary to find someone to hold it on behalf of you. As an intermediary, this is the most common operation.He further revealed that in terms of profit sharing, the general shareholders' meeting of listed companies will cover the bottom of the trader, and the trader can get: advance funds + interest, and the annual interest rate of the capital cost is about ten%; In order to prevent the stock from falling, the trader will charge a 30% margin, while Ye Fei only charges 10%, which is indeed a bit less. Now this ratio cannot be done outside; If the shareholder stock of a listed company has excess returns, the trader can get a share, depending on how the two parties talk.\"A middleman like Ye Fei can get a little introduction fee, which is collected from the trader.\"The aforementioned senior investment bank told Caijing reporter.The above-mentioned case of suspected sitting in the village exposed by Ye Fei involves listed companies, market parties, middlemen, takeover parties, etc.Regarding the takeover party this time, Ye Fei bluntly stated in the live broadcast on May 14 that one of them was Minsheng Securities, which took over the order for 15 million yuan, and the other did not buy because the stock price of Zhongyuan Home Furnishing fell by the limit on March 31.Caijing reporter noticed that in the list of the top ten tradable shareholders of Zhongyuan Home in the first quarter of this year, there were as many as 9 new shareholders, one of which was Minsheng Securities, which held 552,300 shares at the end of the first quarter, with a market value of 14.5 million yuan. It is similar to the amount of 15 million yuan taken over by an institution that Ye Fei previously broke the news.<img src=\"https://static.tigerbbs.com/4a8f2ce82c234ffac6a7fc1cac23a886\" tg-width=\"690\" tg-height=\"1434\" referrerpolicy=\"no-referrer\">Caijing reporter asked Minsheng Securities for verification on this matter, but as of press time, no positive response has been received.\"Take the so-called'market value management 'interest chain as an example. Shareholders find the trader, and the trader will find institutions such as private equity, public equity or securities firm asset management plans through intermediaries.\" The aforementioned senior investment banker told Caijing reporters that institutions here have two roles,One is that because the trader does not have enough funds, he pulls the institution to \"lift the sedan chair\" together, and the other is to act as the final takeover of the entire chain, that is to say, the trader sells the shares of listed companies to the institution.He also revealed that, generally speaking, there are more people looking for private equity traders, because private equity operations are more flexible and unregulated; Public offerings will be strictly restricted. At the same time, the company will definitely not receive benefits for the asset management of public funds or securities firms. Generally, the fund managers who operate will receive benefits from the traders.Ye Fei has recently continued to speak out in his Weibo, saying that he will reveal the relevant behaviors of 18 listed companies. At present, it has named 8 companies on Weibo, exceptBesides Zhongyuan Home Furnishing, it also includes<a href=\"https://laohu8.com/S/002363\">Longi Machinery</a>(002363. SZ)、<a href=\"https://laohu8.com/S/002387\">Visionox</a>(002387. SZ)、<a href=\"https://laohu8.com/S/002965\">Xiangxin Technology</a>(002965. SZ)、<a href=\"https://laohu8.com/S/300503\">Haozhi Electromechanical</a>(300503. sz)、<a href=\"https://laohu8.com/S/603966\">Frantek</a>(603966. SH)、<a href=\"https://laohu8.com/S/603377\">Oriental fashion</a>(603377. SH)、<a href=\"https://laohu8.com/S/603680\">Jinchuang Group</a>(603680. SH).2. The regulatory authorities have intervened, and the person who broke the news has been subject to administrative supervision measuresYe Fei broke the news that the listed company was suspected of \"sitting in the village\" and defaulting on its debts, which caused a shock in the industry. The incident has also attracted the attention of regulators.In response to the relevant situation, on May 14th, the China Securities Regulatory Commission made a public response in official website.The China Securities Regulatory Commission said that it attaches great importance to media reports. On May 13th, the Shanghai Stock Exchange started the investigation of relevant accounts, and issued a \"Supervision Work Letter\" to the company on the afternoon of the same day, requiring the company to conduct self-examination and truthfully disclose relevant information. Our dispatched office has interviewed the company and relevant parties and started the verification procedure.At the same time, the China Securities Regulatory Commission stated that it has always adhered to a \"zero tolerance\" attitude towards market manipulation and insider trading in the name of market value management, and severely investigated and dealt with in accordance with the law. Those suspected of committing crimes will be promptly transferred to public security organs. Once listed companies and actual controllers, private equity funds, Public Offering of Fund and other relevant institutions are found to engage in or participate in relevant illegal activities, the CSRC will investigate to the end, severely punish them according to law, and announce them to the public in a timely manner.\"The so-called market value management of listed companies involves at least two major violations of laws and regulations: insider trading and stock price manipulation.\"The aforementioned senior person in Shanghai's private equity industry told Caijing reporters.He further explained that investment institutions responsible for market value maintenance must know the details of listed companies, and know when and what kind of positive or negative information the listed companies will produce. Then investment institutions perform corresponding operations on the disk, which actually constitutes insider trading.As for manipulating the stock price, after receiving the corresponding news, the investment institution pulls it up, maintains the stock price fluctuating at a high level, sells it, etc. This belongs to the category of sitting in the village, and it also belongs to manipulating the stock price, which is definitely a violation of the securities law.On the other hand, Ye Fei, the whistleblower this time, is suspected of being punished by the CSRC.On the official website of the China Securities Regulatory Commission, in 2015, an announcement was issued to impose administrative penalties on five cases of manipulating the securities market, involving a person named Ye Fei.The announcement shows that Ye Fei is suspected of manipulating \"Xinwei Group\" \"<a href=\"https://laohu8.com/S/600495\">Jinxi axle</a>”“<a href=\"https://laohu8.com/S/600418\">Jianghuai Motors</a>”“<a href=\"https://laohu8.com/S/002227\">Aotexun</a>”“<a href=\"https://laohu8.com/S/300052\">Zhongqingbao</a>\"And other 5 stock prices. From May 13 to June 30, 2015, it concentrated its capital advantage to buy the above five stocks continuously in the late trading stage, which affected the price and trading volume of related stocks, and then sold them in reverse direction, making a profit of 6.6379 million yuan.At that time, the China Securities Regulatory Commission punished Ye Fei: confiscating Ye Fei's illegal income of 6.6379 million yuan and imposing a fine of 19.9137 million yuan.Ye Fei's private equity company Huaibei Yitian Investment Co., Ltd. and himself were also subject to administrative supervision measures by the CSRC in August 2016.According to the relevant announcement of the China Securities Regulatory Commission, in the special inspection of private equity institutions, 65 private equity institutions have general violations such as public offering, failure to custody fund property as agreed in the contract, non-compliance with the investment direction, non-compliance with the contract, failure to disclose information as agreed in the contract, and lack of qualifications for employees of securities private equity institutions. Ye Fei's company is among them.Caijing reporter noticed that on Weibo, someone reminded him:\"You are beginning to become notorious in the industry.\" Many investors also supported Ye Fei's behavior online, calling it \"the beginning of the crackdown on criminals in China's stock market.\"On May 15th, Ye Fei announced that Weibo would continue to break the news next week.\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://www.huxiu.com/article/428239.html\">虎嗅</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/343b4141f56cc7d4e6b59d17385f4a96","relate_stocks":{"603709":"中源家居"},"source_url":"https://www.huxiu.com/article/428239.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135989548","content_text":"一场由私募微博大V爆料牵出的上市公司涉嫌“坐庄”案，引发各界关注。\n5月9日，新浪微博大V“叶飞私募冠军直说”发帖爆料称，A股上市公司中源家居（603709.SH）以市值管理的名义找到盘方，他作为中间人撮合机构接盘，但事后盘方赖账不付尾款，导致他被下家催要几百万尾款。\n新浪微博认证显示，该账号对应的认证人为“淮北市倚天投资有限公司总经理叶飞”。\n该事件近期持续发酵，此后，叶飞继续爆料称，未来将曝光18家类似的上市公司。《财经》记者汇总其近期公开言论发现，叶飞已经曝光了近一半公司的名字。5月14日，多家被叶飞点名的上市公司发布了澄清公告。\n“我说的这些都是行业内大家都知道的潜规则而已，只是别人被骗了就以和为贵，不敢鱼死网破。可能是性格问题吧，我不喜欢被骗。我做人特别真实。”叶飞在其微博中表示。\n“所谓的市值管理，是业内的‘常规’操作。”一位上海私募界的资深人士对《财经》记者表示，但因该操作涉嫌违法，所以从来不接这类业务。\n“这样的利益链基本上是资本市场公开的秘密了，大家心照不宣，但没有人会说出来。”投行资深人士亦对《财经》记者表示。\n在5月14日晚间的直播中，叶飞还直接透露中源家居此次的接盘方之一为民生证券。\n对此，一名民生证券内部人士对《财经》记者表示，投资部门持仓信息不便对外透露。\n针对相关问题，证监会5月14日回应称，已约谈公司及相关各方，并启动核查程序，并称一旦发现相关违法违规活动，将一查到底。\n一、私募大V称将爆料18家上市公司“坐庄”\n5月9日，叶飞发布微博称，遭遇中源家居找的市值管理盘方欺骗。\n“3月31日左右盘方通过好几个中间人找到我，给了不到10%的定金，让我的下家一些公募基金经理和券商资管买了中源家居的股票，然后一直跌停，并且盘方蒲菲迪这个人赖账不付尾款。”叶飞称:“此后两个月我一直联系中间人，他们一个个都推脱不肯负责。”\n叶飞还称，此次公募和券商资管这边的损失大概几百万。此间，他的下家一直向其追要几百万尾款。\n公开资料显示，中源家居为一家沙发厂，主要从事功能沙发的设计、生产和销售。其2020年营业收入为11.62亿元，净利润为0.42亿元。截至5月14日，该公司总市值为15亿元。\n针对叶飞爆料，中源家居董秘张芸对外回复称，网上爆料不属实，公司与叶飞没有任何业务往来，未参与任何市值管理行为，此事已向浙江证监局、上交所备案。\n前述投行资深人士 告诉《财经》记者：“这次被曝出，我估计是盘方因中源家居股价暴跌，资金链出问题了，无法兑付给中间人和机构的承诺，或者是利益链上游的上市公司股东、盘方和中间人之间，有利益分配问题没协商好，牵连到下游的机构。”\n他还向《财经》记者透露了相关产业链的主要细节。\n其表示，从股东找盘方的目的来看，一般出于几种：一是拉升股价套现；二是规避减持新规的限售规定，比如受让方需锁定6个月，需要找人接盘；三是因为种种原因需要找人代持，作为中间人，操作得最多的就是这种。\n他进一步透露，从利益分成来说，一般上市公司股东会为操盘方兜底，操盘方可以获得：垫付资金+利息，资金成本大概年利率百分之十几；为了防止股票下跌，操盘方会收30%的保证金，叶飞只收10%，确实有点少，现在外面这个比例都做不了；如果是上市公司股东股票套现有超额收益，操盘方可以拿到分成，具体就看双方怎么谈。\n“类似叶飞这样的中间人可以获得一点介绍费，是跟操盘方收的。”前述投行资深人士告诉《财经》记者。\n叶飞曝光的上述涉嫌坐庄的案例，牵涉上市公司、盘方、中间人、接盘方等。\n对于此次的接盘方，叶飞在5月14日的直播中直言，其中一家为民生证券，以1500万元接盘，另一家因为3月31日中源家居股价跌停，没有买入。\n《财经》记者注意到，在今年一季度中源家居的前十大流通股东名单中，新晋股东多达9位，其中之一为民生证券，其一季度末持股数量为55.23万股，持股市值为1450万元。与叶飞此前爆料的某机构以1500万元接盘的金额相近。\n\n《财经》记者就此事向民生证券方面求证，但截至发稿，尚未获得正面回应。\n“以所谓‘市值管理’利益链为例，股东找到操盘方，操盘方会通过中间人找到私募、公募或者券商资管计划等机构。”前述投行资深人士告诉《财经》记者，这里的机构有两种角色，一种是因为操盘方资金不够，拉着机构一起“抬轿子”，另一种是作为整个链条最终的接盘方，也就是说操盘方把上市公司股票卖给机构。\n他还透露，一般来讲，找私募操盘的比较多，因为私募操作较为灵活，不受监管；公募会受到较为严格的限定。同时，公募基金或券商资管，公司肯定不会收好处，一般是操作的基金经理等，会拿到操盘方给的好处费。\n叶飞近期在其微博持续发声，并称将爆料18家上市公司的相关行为。目前，其在微博陆续点名的公司已达8家，除中源家居外，还包括隆基机械（002363.SZ）、维信诺（002387.SZ）、祥鑫科技（002965.SZ）、昊志机电（300503.sz）、法兰泰克（603966.SH）、东方时尚（603377.SH）、今创集团（603680.SH）。\n二、监管层已介入，爆料人曾被采取行政监管措施\n叶飞爆料的上市公司涉嫌“坐庄”且赖账案，引发业界震动。该事件也引发了监管机构的关注。\n针对相关情况，5月14日，证监会在官网作出了公开回应。\n证监会称，对于媒体报道情况，证监会高度重视。5月13日，上交所即启动排查相关账户，并于当日下午向公司发出《监管工作函》，要求公司进行自查，并如实披露相关情况。我会派出机构已约谈公司及相关各方，并启动核查程序。\n证监会同时表示，对于以市值管理之名实施操纵市场、内幕交易等行为，始终秉持“零容忍”态度，依法予以严肃查处，涉嫌犯罪的，及时移送公安机关。一旦发现上市公司及实控人、私募基金、公募基金等相关机构从事或参与相关违法违规活动，证监会将一查到底、依法严惩，并及时向社会公布。\n“上市公司所谓的市值管理，至少涉及到内幕交易和操纵股价两大违法违规行为。”前述上海私募界资深人士对《财经》记者表示。\n他进一步解释称，负责市值维护的投资机构一定要了解上市公司的详细情况，了解上市公司什么时候出何种正向的信息，或者是负面的信息。然后投资机构在盘面上进行相应的操作，这实际上已经构成内幕交易。\n至于操纵股价，则是投资机构在得到相应的消息后，进行拉高、维持股价高位震荡、卖出等，这属于坐庄的范畴，同时也属于操纵股价，这肯定也是违反证券法的。\n另一方面，此次的爆料人叶飞疑似曾遭遇证监会处罚。\n在证监会官网上，曾在2015年发布拟对5宗操纵证券市场案件作出行政处罚的公告，其中涉及名为叶飞的人。\n该公告显示，叶飞涉嫌操纵“信威集团”“晋西车轴”“江淮汽车”“奥特迅”“中青宝”等5只股票价格。其于2015年5月13日至6月30日集中资金优势在尾盘阶段连续买入上述5只股票，影响相关股票价格与交易量，继而反向卖出，获利663.79万元。\n证监会彼时对叶飞作出处罚：没收叶飞违法所得663.79万元，并处以1991.37万元罚款。\n叶飞所在私募公司淮北市倚天投资有限公司和其本人也在2016年8月被证监会采取行政监管措施。\n证监会相关公告显示，在对私募机构开展的专项检查中，有65家私募机构存在公开募集、未按合同约定托管基金财产、投资方向不符合合同约定、费用列支不符合合同约定、未按合同约定进行信息披露、证券类私募机构从业人员无从业资格等一般性违规问题，叶飞所在的公司位列其中。\n《财经》记者注意到，在微博上，有人提醒他：“你在业内开始臭名远扬。”也有不少投资者在网上力挺叶飞的行为，称其为“中国股市扫黑除恶拉开帷幕”。\n5月15日，叶飞发布微博称，下周将继续爆料。","news_type":1,"symbols_score_info":{"603709":0.9}},"isVote":1,"tweetType":1,"viewCount":1794,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}