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Sticking to the floating loss of more than 5 billion yuan in 9 years! Liu Yiqian was frustrated with the Chicken Bowl Cup Securities Company, and Haier was the only winner in the history of Changjiang Securities
On the eve of the long holiday, the Changjiang Industrial Investment Group, which is 100% controlled by the Hubei State-owned Assets Supervision and Administration Commission, signed a series of agreements with the second largest shareholder and the third largest shareholder of Changjiang Securities, the essence of which is that Hubei State-owned Assets announced that it would control Changjiang Securities with 28.22% of the shares, and Liu Yiqian's new Li Yi and its concerted actors became minority shareholders with 19.27% of the shares.
1. On April 28, 2015, Xinliyi Group invested 10 billion yuan in Changjiang Securities, and that night, Liu Yiqian wrote in the WeChat circle of friends: "Chicken Bowl Cup Securities Co., Ltd. was established, and the valuation should not be understood by sell-side analysts, so I have to find Sotheby's, Christie's, China Guardian, China Poly, I will work hard!"
2. 9 years of shares, as of Q3 in 2023, the new interests account for 14.89% of the shares, is the nominal largest shareholder, after the integration of Hubei state-owned assets, the new interests have become small shareholders, according to the market value of 30.58 billion last week, Liu Yiqian's new Liyi's market value is 4.553 billion, that is to say, not counting dividends and capital costs, simple calculation, Liu Yiqian has been in Changjiang Securities for 9 years, and now he has lost 5.447 billion. At least for now, it's a losing game.
3. The background of Liu Yiqian's failure to acquire Changjiang Securities was that Changjiang Securities' equity was dispersed at that time, and there was no actual controller after Haier withdrew, and the management at that time believed that Liu Yiqian was a "barbarian", and the management led by Deng Hui, president of Changjiang Securities, launched a private placement of 12 billion yuan (later reduced to 8.3 billion) in May 2015. After the completion of the additional issuance in July 2016, 3.62%, 3.62%, 1.81% and 1.81% of the state-owned shareholders held by Three Gorges Capital Holdings, Wuhan Real Estate Development, Hubei SME Financial Services Company and Hubei Western Hubei Ecological and Cultural Tourism Circle Investment Company respectively entered Changjiang Securities, and the shareholding of Xinliyi Group was diluted to 12.62%.
4. Haier is the only winner in this capital game. As early as 2002, Haier invested 470 million yuan to acquire a 20% stake in Changjiang Securities, becoming the largest shareholder, but could not actually control the company.
In 2007, when Changjiang Securities was backdoor listed, Haier Investment still failed to take actual control of Changjiang Securities, and its shareholding ratio fell to 14.72%. On April 28, 2015, Haier Investment signed the Share Transfer Agreement with Xinliyi Group, transferring nearly 698 million shares of Changjiang Securities held by it to Xinliyi Group registered in Shanghai for 10 billion yuan. After 13 years of holding, Haier made a profit of 9.53 billion yuan from Changjiang Securities.
5. On March 25, 2024, the Hurun Research Institute released the "2024 Hurun Global Rich List", and Liu Yiqian ranked 678th on the list with a wealth of 34.5 billion yuan. Liu Yiqian's story is the story of China's capital market from scratch, Liu Yiqian obtained huge gains from call warrants, corporate shares, etc., and then turned to the field of collection, and also controlled the financial assets of Guohua Life, in the current economic environment, it is not a big deal to lose Changjiang Securities.
6. After Hubei State-owned Assets obtained control of Changjiang Securities, there is still a long way to go! Changjiang Securities will complete 7 IPO projects in 2023, 6 of which will be withdrawn or rejected, and the sponsorship failure rate will be about 46.15%, close to 50%. In 2023, Changjiang Securities' investment banking business and insurance agency will receive a total of 9 fines, 3 more than in 2022. On December 4, 2023, Zhang Xinyang and Wang Haitao, two sponsor representatives of Changjiang Securities' investment banking business, were warned by the Shanghai Stock Exchange for failing to perform their duties when sponsoring the Qingda Keyue project. Due to the low quality of practice, Changjiang Securities' investment banking business rating was downgraded from A to B in 2023.
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Billionaire Liu Yiqian lost his hand at Changjiang Securities
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Hubei state-owned assets integrated Changjiang Securities
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After the integration, Liu Yiqian, Xinli Yi and Guohua Life Insurance retired as minority shareholders
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Liu Yiqian's several keywords: bear market tray
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Liu Yiqian's several key words: chicken bowl cup
On 8 April 2014, the Mei Yin Tang Collection Ming Cheng Hua Doucai Chicken Bowl Cup sold for HK$281.24 million at Sotheby's Hong Kong's Important Chinese Porcelain and Crafts Spring Auction, a new world auction record for Chinese porcelain from Shanghai-based collector Liu Yiqian. According to Sotheby's Hong Kong, only three of the surviving chicken cups are in private collections.