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"New Lake" Xiangcai securities listed on the curve! Behind the trader is "327 fierce men".

YMCJ8686 @ 2020/05/23

Author Song Guanyu

Source: wild horse Finance

As a group of A shares, the "new lake system", which has been dormant for many years, seems to have been forgotten.

However, after holding the new Lake Business (after being absorbed and merged), many new listed companies such as new lake, Zhong Bao, and HAC Gaoke, Wei Dong, who had made good friends with Huang Wei, had repeatedly seized the opportunities of the times.

In May 21st, the "new lake system" has been approved for many times by the failed A Xiangcai securities backdoor listing scheme, and the new lake futures have also been submitted for guidance and record.

In the past twenty-six years, the "new lake system" is seeking a new round of expansion and transformation.

In May 21st, when the lovers were still immersed in the sweet joy, the new lake system also welcomed its own "double happiness".


Xiangcai securities and new lake futures "double happiness"


Looking back at the listing of Xiangcai securities, it has been three times that A failed to succeed. In the evening of May 21st, hgako announced that the issue of shares to buy assets and raise matching funds was approved unconditionally, which means that Xiangcai securities's backdoor listing has been successful. Hgako ended May 22nd at noon, closing at 11.32 yuan / share, or 0.27%.


In addition, another great news of the new lake system is that the new lake futures joint stock company (hereinafter referred to as "new lake futures") was also submitted to the conference on May 21st for guidance and record.
The top four shareholders of new lake futures are all "new lakes" companies. In fact, the control per capita is Huang Wei, and the actual control ratio is 91.67%. This means that the financial sector of the new lake system will expand further.

Photo source: enterprise check


It is worth mentioning that the successful acquisition of Xiangcai securities, an old brokerage firm in Hunan, was founded in 1996. In the China Securities Association's 2018 ranking of brokerage net assets, Xiangcai securities ranked sixty-first in 7 billion 268 million yuan.


Therefore, Xiangcai securities can be regarded as a key step for the new lake system to enter the financial industry.


In 2007, the "new lake system" under the real controller Huang Weiqi became the shareholder of Xiangcai securities through the way of cash replenishment. After that, it was transfered to shareholders of many shareholders such as Valin steel and Hengyang Finance Bureau at the price of 1 yuan / share, becoming the largest shareholder of Hunan finance.


In the years after the new lake capital, Xiangcai securities made a lot of contributions. Such an important strategic pawn, if able to enter the capital market, will naturally benefit the development of the new lake as a whole.


Since 2014, Xiangcai securities intends to complete the listing by way of 601519.SH, which is the main stock market software and data service. However, due to the great wisdom of the securities and Futures Commission, the plan was failed.  


In March 2017, Xiangcai securities issued the IPO listing plan. However, after a year's efforts, Xiangcai securities has not yet completed the listing, but in March 2018 it had no choice but to postpone it. In May 2018, Xiangcai securities finally stopped listing on the new third board.


After repeated defeats, Xiangcai securities fought repeatedly, and their vision was higher and higher. In July 1, 2019, haccco announced that it would buy shares of 100% Xiangcai securities held by 17 shareholders such as new lake holdings, State Grid Ying Tai and new lake Zhong Bao through the issue of shares. At the same time, it intends to raise funds to non-public offering stocks of not more than 10 specific objects.  


According to May 31, 2019, the trading price of Xiangcai securities is tentatively set at 10 billion to 14 billion yuan. This is definitely the largest capital operation of the new lake system in recent years. After the announcement, the stock price of harakco opened immediately after the second day of trading and opened up 4 consecutive trading modes.  


However, the road to restructuring is still variable. In March 2020, the securities and Futures Commission asked the HQ about whether to satisfy the controlling shareholders' qualifications, how to maintain an effective governance structure under the two main industries, and how to evaluate the rationality of Xiangcai securities and a series of 20 issues that investors and investors focused on.


And HAC Kok also uses 15 words to express sincerity.


Hgako said to wild horse Finance (WeChat public number: ymcj8686). In response to feedback, hgako explained the issue of controlling shareholder qualification and valuation of Xiangcai securities one by one. The 15 million words of the answer also gave hgako a satisfactory answer. In addition, with the development of Xiangcai securities in recent years, after the listing, it may get better business development. At the same time, ha After that, there were two points in the management of Xiangcai securities. First, we should expand the number of customers and enhance customer stickiness by double driving of financial technology and wealth management. The second is to continue to enhance the investment management ability of Xiangcai securities.


At the same time, since the announcement of Xiangcai securities curve listing in June 2019, it has been completed in less than a year, and the way of loading assets under the same control name has also become the fastest way for securities dealers to list.


Low profile "new lake system" head

As the head of the "new lake system", Huang Wei is known as "big hidden" in the city, which is rarely known to the public. Today, on the business card of Huang Wei, there is only the title of chairman of the new lake holding company. He does not hold any post in the new lake group or the subsidiary company. The core layout of the new lake system and the "new lake treasure" of the listed company have been handed over to the professional managers team headed by Lin Junbo, the female chairman.  
Sun Yiyuan, an enterprise observer, told wild horse Finance (WeChat: ymcj8686). To select the right manager team may be a better option for the new lake system.

The extremely low-key millionaire was born in Wenzhou in 1959. After graduating from University, he worked in the Party School of Ruian and Wenzhou municipal Party committee, and went into business in the late 80s of last century.  
According to the twenty-first Century economic report, Huang Wei's first barrel of gold is a widely spread version: Huang Weiyong sold glasses for 20 thousand yuan, and bought more than 800 stock warrants. In 1992, the subscription card was sold to 10000 yuan in the black market, and more than 800 stock subscription certificates were exchanged for about 8000000 original accumulation by Huang Wei.  
According to the investor newspaper, Huang Wei was closely related to Wei Dong and became acquainted with the classics. Chung Kai Kai was the only state-owned trust investment company at that time. In addition to the "327 Treasuries" incident, the Sino economic opening also involves the famous "314" and "319" events in the capital market and has made a lot of profits. It is nicknamed "Mussolini is always justified, and the central classics are always winning money".  
At that time, Huang Wei was a major client of China classics. He was one of the beneficiaries of the "327 national debt" incident. By the end of 1994, after the first barrel of gold, Huang Wei set up the new lake group and the new Lake property, and began to move in the capital market.  
In addition, from the perspective of the ownership structure of the new lake, Huang Wei, the richest man in Wenzhou, was controlled by three companies. Among them, 32.41% of the largest shareholder of Zhejiang new lake group Limited by Share Ltd, Huang Wei held a shareholding ratio of 67.22%, while his wife Li Ping, the shareholding ratio was 28.83%. At present, Huang Wei and Li Ping are not listed in the "new lake treasure" in the listed company. Their son Huang Licheng is only a supervisor of the company.  
Standing on the front line of the new lake system, most of them are civil servants who abandon the government and go to sea. The typical representatives are Zou Lihua, the core figure of the new Lake real estate board, Ye Zhengmeng, vice chairman of the new lake, and chairman of the board of supervisors of the new Lake Group.  
Just like this, the "new lake system" was born from scratch, from small to large.


Deciphering the new lake system

Since the establishment of the new lake group and the new Lake property in 1994, the new lake system base camp has begun to sing the real estate drama.

In 2000, the Shaoxing department store (600840.SH) entered the sight of the new Lakers. The new lake group and its subsidiary Ningbo Jiayuan Industrial Development Co., Ltd., at the price of 1.75 yuan / share, were transfered to 29 million shares of the Zhejiang business group company of the state owned enterprise, and gained 29% of the company's shareholding as the actual controller, then renamed the new lake venture (merged into the new lake in 2009).  
By the end of 2004, the "new lake system" had entered 600095.SH, and it was the largest shareholder and the only non tradable share holder of harkok through the two holdings and the absolute holding ratio of 42.24%.  
At the same time, the "new lake system" is also eyeing the shares of Zhong Bao (now renamed "new lake treasure", 600208.SH). In July 25, 2006, the new lake group put 14 Real Estate Company through the way of private placement, and put them into the shares of Huang Weicheng.   Subsequently, the "new lake system" Vietnam War and Vietnam Yong, successively took Shengjing bank, Jilin bank, Wenzhou bank, Chengdu rural credit cooperatives, the Great Wall securities, new lake futures, Qinghai alkali industry, including Xiangcai securities and many other financial institutions and mining companies.  
In 2012, the new lake system cost 750 million yuan to take 34.40% stake in Northwest Mining, and the northwest mining industry is the second largest shareholder of 000426.SZ.

In February 23, 2019, Yin man mining, a wholly owned subsidiary of Xingye mining, suffered a mine disaster. Subsequently, the local government issued a request for the whole industry of Xingye mining, including the mining industry, the Xilin mining industry and the dry gold mining industry.  


Recent situation of "new lake system"

According to previous official data, Xiangcai securities's revenues in the 2015-2017 years and three years were 3 billion 28 million yuan, 1 billion 609 million yuan and 1 billion 348 million yuan respectively, and net profit also fell sharply. Net profit fell sharply to 80% last year.  
On the other hand, harako's operating income in recent 3 years was 223 million yuan, 299 million and 450 million respectively, while operating profit remained at 32 million to 40 million yuan. The company's share price also dropped from around 12.87 yuan in early 2017 to 9.19 yuan per share.  
And the new lake, which is the main force of the new lake system, is not optimistic. In addition to the debt pressure and the lack of working capital, the peak value of the stock price fell from 9 yuan to the latest 3.08 yuan / share in the middle of 15 years.

Of course, this is closely related to its awkward position in the real estate industry and not the first-class operational capability. Since net profit reached 5 billion 838 million in 2016, net profit in 17 and 18 has fallen by 3 billion 322 million and 2 billion 506 million respectively, even though the net profit in 2019 can rise to 3 billion 115 million yuan, but it is still inferior to that at its peak, let alone breaking the wrist with industry tycoons.  
However, after 26 years of development, the "new lake system" still has a profound root.  
First of all, the territory of the new lake is vast, with extensive fields, such as mining, real estate, science and technology, finance and other industries. Take the subsidiary company of Zhejiang new lake group Limited by Share Ltd as an example, it can be seen.

Source of data: Enterprise check (not all listed)

Second, as a soul figure, Huang Wei gained wealth by his unique vision. Every time capital operation rose, he even jumped to become the richest man in Zhejiang.
Do you know about the "new lake system", an old capital family enterprise? Is it optimistic about the listing of Xiangcai securities? Please leave a message in the comment area.