Zhongxin Baotuan Shenma Shares Float Over 200 Million Shares Of Bonds To Win A Win-Win Situation

Internet buzzwords: god horse is floating clouds. Failed reorganization Shares Turning the wealth of investors into a floating cloud left a heartbreak. In fact, the heartbreaker includes not only retail investors but also CITIC Securities, a leading broker.

Shenma shares three quarterly report shows that as of September 30th, CITIC Securities self operated disk and its 5 set of financial products appeared in the company's ten largest circulation shareholders, the total number of shares reached 43 million 480 thousand shares. In November 21st, Shenma shares announced the failure of the reorganization, the first trading day closed down. If the number of shares has not changed since October, the loss of the CITIC line will be as high as 56 million 510 thousand yuan a day.

Affected by the entire market downturn and other factors, CITIC's heavy management Shenma shares information management products. Stock debt Win win is now positive. Customer Ask for advice to extend the product.

CITIC float or exceed 200 million

In May this year, Shenma shares suspended for two months threw out an attractive restructuring plan: the existing assets of nylon companies and Plastics Engineering Company and Shenma share each other upstream and downstream, and the net profit of nylon companies and Plastics Engineering Company in 2010 was 220 million yuan and 88 million 160 thousand yuan respectively. Last year, the net profit of Shenma shares was only 45 million 220 thousand yuan, which aroused great interest in the market. Shenma shares resumed three consecutive trading after resumption in May 24th.

At the end of the first quarter, CITIC did not appear in the list of shareholders of Shenma shares. But by the half of the year, CITIC Securities's self operated disk and 3 collections of financial products have entered the ten largest tradable shareholders, and continue to scale up in the three quarter. As of September 30th, CITIC has occupied the majority of the ten largest circulation shareholders of Shenma shares, and the total number of 5 financial products and self operated shares amounted to 43 million 480 thousand shares. After the resumption of trading in May 24th to the average price of 16 yuan / share in September 30th, the CITIC department spent about 700 million yuan on its funds.

In the A share market, there are many cases of big gamble regrouping. Unfortunately, this time, the CITIC system obviously failed to make a wish.

In fact, Shenma shares began to enter a downward path after rushing to 18.51 yuan at the end of July. In November 19th, the company announced that the issue of private placement was terminated due to asset defects and the restructuring of the underlying company's operating performance, and no major asset restructuring was planned in the next three months. The news made the stock price that had already suffered a heavy blow again. Yesterday (November 22nd), Shenma shares fell to a minimum of 9.73 yuan, compared to the high point at the end of July almost cut. At the closing price of 10.03 yuan, the current loss of CITIC has reached about 260 million yuan.

The collapse of Shenma shares, coupled with the recent sharp fluctuations in the market, CITIC's collection of financial products net value fell sharply. Yi Tianfu fund investment analysis and decision system data show that as of November 21st (Monday), the total net value of the debt equity of the CITIC stocks fell by 6.72%, ranking the top of all brokerages' financial products.

(CITIC stock debt holds 5 million 625 thousand and 200 shares of Shenma shares), CITIC financial 2, holding 12 million 281 thousand and 500 shares of Shenma shares, has also fallen by 3.17% a week.

CITIC share debt win-win

It is worth mentioning that, or by Shenma shares and the market dragged down, CITIC stock debt win recently put forward the idea of the exhibition.

In November 16th, CITIC Securities posted a message on its official website and consulted with a win-win client of CITIC share debt, attempting to amend the term "renewal of expiry of the term" in the original contract terms. The financial product, established in April 6, 2007, will expire in April 6th next year. "As the market continues to slump, the company intends to apply for an extension to the SFC in order to effectively protect the interests of investors. In accordance with the requirements of relevant national laws and regulations, investors are consulted on the contract changes. The clients are registered as of October 31st, and the deadline for consultation is December 15th.

Call CITIC Securities as a client. The staff explained that the idea of presenting a renewal period in half a year is due to a win-win relationship between the stock and debt at the time of initial design. The recent market environment is not good, so the company made a decision after the study, hoping to change the product to an unfixed period, "so investors can choose to quit when they are better. At present, we are just asking for advice. If we receive sufficient reply, we need to submit an application for renewal to the SFC. " The staff also revealed that since the work has just started, CITIC Securities has not yet received the relevant reply from customers.

According to the table of changes of the contract terms issued by CITIC Securities, as long as the stock debt win-win situation is satisfied at the 24 day of the expiration date, that is, that the client who agrees to extend the period is not less than 2 people, and the net asset value of the share held is not less than 100 million yuan, and it will meet the other conditions and conditions of the establishment stipulated in the implementing rules for the collection of assets management business (Trial Implementation) of the securities company, and the extension will be realized. The client who agrees to extend the period may continue to hold the product, and the customer who does not agree to the extension will handle the contract in accordance with the relevant stipulations of the original contract.

Aggressive investment style

The renewal of CITIC share debt has also attracted the attention of some people in the industry. A source of information management in Beijing pointed out that the cumulative net worth of CITIC stock debt exceeded 1 yuan, and many dividends were paid after the establishment. "On the whole, after the establishment of a win-win relationship between CITIC bonds, it has done well, but this is mainly due to the good grasp of the Daniel market in 2007 and the rebound in 2009. In 2011, the winning of CITIC share debt was not good, and the accumulated net value dropped from 1.41 yuan at the beginning of the year to 1.16 yuan. Now that the plan is to be extended, it may be that the CITIC team thinks that the market has reached the bottom area.

The source also pointed out that although the cumulative net value of CITIC stock debt is more than 1 yuan, that is to say, after the establishment is generally positive, but because this product is open every day, some investors may see that this product is performing well before buying, so it is possible to buy a high point, not only can not enjoy the accumulated income, but also suffer losses. "Therefore, the extension is probably a good thing for these investors."

However, from past experience, the performance of many brokerages after collecting financial products remains to be seen in the face of the market. Shanghai securities management 1 is a typical example. In September 17, 2007, Shanghai securities management 1 was established at the bull market's highest point and began to extend in September 17, 2010. As of November 21st this year, the cumulative net value of Shanghai securities financial 1 was still only 0.5029 yuan, which was also down by 13.44% compared with the 0.5810 yuan at the beginning of the year. This means that if the customer who had purchased the purchase was not yet withdrawn in 2007, its assets had already shrunk by half.

From the periodic report on the win-win situation of CITIC bonds, the investment style of this product is more radical. In January this year, CITIC Securities changed the investment manager of CITIC equity debt, which was held by Mr. Liu Hui, a former CITIC fund research director and CITIC Securities Asset Management Director and once responsible for social security transfer to equity accounts.

Three quarterly report shows that although the name is

"Share debt is win-win". In the portfolio of products, the share is 76.77%, the market value is 810 million yuan, and the bond is only 2 million 223 thousand and 600 yuan, accounting for 0.21%. Another 22.55% allocation fund, the market value of 238 million yuan.

The top six of the top ten stocks are between 70 million and 80 million yuan. In addition to Shenma shares, at the end of the three quarter, CITIC stock debt win-win also held 5 million shares of Yantai Wanhua, 4 million 500 thousand conch cement, 6 million 500 thousand shares tower group and so on.