Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise!
Sharp eyes on finance
2024-07-31 17:48Posted on the official account of Beijing Ruiyan Finance
The story of Dongpeng Beverage, the largest functional drink giant in China, is becoming more and more incomprehensible!
Recently, Dongpeng Beverage's second shareholder Junzheng Investment has reduced its holdings and cashed out, but the strange thing is that its secondary market share price has hit a new high, not only a new high in the year but also a new high in the past three years, the latest stock price has approached its historical high, this trend is very different from the overall trend of the food and beverage industry.
Perhaps, the beneficiaries hidden behind the second shareholder Junzheng Investment are also worth studying and studying.
"Painstakingly" cashing out
You don't need to tell in advance in the future
Dongpeng Beverage has been listed for about three years, and it has been mentioned more and more by the media because of the frequent and huge reduction of holdings and cash-out by the two shareholders.
Two months ago, on May 29, Dongpeng Beverage lifted the ban on 241 million shares, with a market value of 54.344 billion, which caused heated discussions in the market, and shareholders have cashed out more than 4.2 billion yuan, and more than 2 billion yuan in the year alone, of which the second shareholder Junzheng Investment has cashed out more than 1.9 billion yuan during the year, and the cumulative cash has exceeded 2.9 billion.
Looking at it today, the amount of cash reduced by Dongpeng Beverage's shareholders has exceeded 4.3 billion, of which the second shareholder Junzheng Investment has cashed out more than 2.955 billion!
In the past two months, one thing is worth noting, Junzheng Investment, which has been reducing its holdings in a big way, only reduced its holdings by 100 shares through the secondary market, with an average transaction price of 233.5 yuan per share and a cash amount of 23,300 yuan.
Look clearly, not 1 million shares, but 100 shares, how can Junzheng Investment, which has such a big appetite, suddenly look at 100 shares of "mosquito meat"?
The purpose is very clear and clear, Junzheng Investment will no longer be a shareholder of more than 5% of Dongpeng Beverage's shares after getting rid of the "burden" of these 100 shares, which means that it does not need to issue an announcement to notify everyone in advance if it wants to reduce its holdings in the future.
(Screenshot of Dongpeng Beverage's announcement)
So, in this way, in the future, Junzheng Investment will reduce its holdings if it wants to, and it will reduce its holdings when it wants, and it will be difficult for the outside world to know the changes in its holdings!
In the past 2-3 years, Junzheng Investment has repeatedly reduced its holdings by nearly 3 billion, and its shareholding ratio is 4.999975%, which is only half of its holdings, and the market value of Dongpeng Beverage is 4.68 billion according to the market value of 93.6 billion today.
(Screenshot of Dongpeng Beverage's stock price trend)
If the current law of "the more shareholders reduce their holdings, the higher the stock price" of Dongpeng Beverage is maintained, then in the end, Junzheng Investment may not be able to cash out tens of billions!
Qiaqia Food
The largest listed company behind Junzheng Investment
As the second shareholder of Dongpeng Beverage, Junzheng Investment cashed out nearly 3 billion yuan in the first three years of Dongpeng Beverage's listing, so the shareholders behind Junzheng Investment have some need to pay attention.
Interestingly, after the equity penetration, there are 4 A-share listed companies behind Junzheng Investment, and there are both food and medical industries, including Qiaqia Food, Jiajia Food, Babi Food, and Guangzheng Ophthalmology.
(Data source: Qichacha)
Among them, Chen Xianbao, who directly holds 8.5714% of Junzheng Investment, is the actual controller of Qiaqia Food, an A-share listed company, in addition to Chen Xianbao's direct shareholding, Qiaqia Food also holds 99.9951% of the equity of Weiran Investment, which directly holds 3.7143% of Junzheng Investment, and Qiaqia Food and Chen Xianbao, the actual controller, hold a total of 12.2855% of Junzheng Investment, second only to Anhui Jiahua, which holds the most shares of Junzheng Investment.
(Data source: Qichacha)
According to the calculation that Junzheng has invested in about 3 billion Dongpeng Beverage, the benefits of Naqia Food and Chen Xianbao are about 363 million!
Qiaqia Food is a very well-known food processing company, its classic product is Qiaqia melon seeds, in the past few years in the food and beverage industry stock price soaring environment, Qiaqia Food's share price has also skyrocketed, the market value has also reached 35.642 billion, and the company's non-net profit will also reach a record high in 2022.
However, up to now, the share price of Qiaqia Food has fallen by more than 61% from a high level, with a market value of only 13.4 billion, and the non-net profit also fell sharply by 16.23% last year.
(Screenshot of the stock price trend of Qiaqia Food)
(Qiaqia Food deducts non-net profit, data source: Flush website)
For a company like Qiaqia Food, because the 360 million funds obtained by Junzheng Investment to reduce its holdings in Dongpeng Beverage should not have a great impact on the company's net profit.
Three food companies and one ophthalmology company
The share is more than 700 million
However, the other three companies have a greater impact on the company than the cash-out funds obtained by directly or indirectly holding shares in Junzheng Investment.
First of all, Babi Food, which directly holds 5.7143% of the equity of Junzheng Investment, according to the calculation of Junzheng Investment's reduction of Dongpeng Beverage's cumulative cash of 3 billion, Babi Food has benefited about 169 million, but Babi Food's annual non-net profit in recent years is less than 200 million!
(Babi Foods deducts non-net profit, data source: Flush website)
For Babi Food, because of its direct shareholding in Junzheng Investment, it has benefited from the about 169 million funds obtained by Junzheng Investment from continuously reducing its holdings in Dongpeng Beverage, which is almost worth the profits of Babi Food's hard work for a year.
Like Qiaqia Food, although the non-net profit will hit a record high in 2022, its share price has plummeted by more than 76% from the high at the beginning of the listing, and its market value has shrunk from 13.858 billion to 3.4 billion, which is not even a fraction of the original amount!
(Screenshot of Babi Foods' stock price trend)
Babi Food's 2023 annual report shows that due to the impact of price fluctuations in the secondary market of Dongpeng Beverage's shares, some related shares were disposed of at the same time, resulting in a decrease in fair value change income.
Then there are the add-on foods. Jiajia Foods indirectly holds shares of Junzheng Investment by holding Hexing Investment, which holds 5.4286% of Junzheng Investment, and Jiajia Foods holds 99.995% of Hexing Investment, so Jiajia Foods indirectly holds about 5.4283% of Junzheng Investment, and a total of about 160 million cash can be benefited from Junzheng Investment in recent years.
This 160 million funds may be life-saving money for Jiajia Foods!
The situation of Jiajia Food's stock speculation basically knows that the controlling shareholder Hunan Excellence Investment has filed for bankruptcy, and the listed company was ST at the beginning of May this year, because the 2023 financial report was issued with a negative audit report, you must know that it just took off its hat on July 29, 2021, and it is wearing a hat again this year.
How much impact does the 160 million fund of Junzheng Investment reduce its holdings in Dongpeng Beverage on Jiajia Food? From 2021 to 2023, Jiajia Food's non-net profit will lose 96.4809 million, 93.372 million, and 201 million respectively, which is not enough to make up for the loss of Jiajia Food, and its stock price has plummeted by more than 83% at a higher level!
(Jiajia Food deducts non-net profit, data source: Flush website)
(Screenshot of Jiajia Foods' stock price trend)
According to the 2023 annual report of Jiajia Food, 19.3092 million yuan of investment in Dongpeng Beverage Project has been recovered, with a total investment income of 82.3275 million yuan. Based on this calculation, the return on investment is about 426.36%.
The last indirect holder of Junzheng Investment is Guangzheng Ophthalmology, Wudaokou Innovation Investment holds 11.4286% of Junzheng Investment, and Guangzheng Ophthalmology holds 8.4746% of Wudaokou Innovation Investment, with a profit of about 28.62 million.
Don't underestimate the 28.62 million, the impact on Guangzheng Ophthalmology is not small. Guangzheng Ophthalmology was listed on the A-share market in 2010, and since 2013, it has been losing money since deducting non-net profits, and has been losing money for 11 consecutive years, with losses of 70.5911 million, 291 million, and 5.7619 million respectively from 2021 to 2023, and the stock price has plummeted by more than 84%!
(Guangzheng Ophthalmology deducts non-net profit, data source: Flush website)
(Screenshot of Guangzheng Ophthalmology's stock price trend)
Seeing this, is there a feeling of "one person is full, and the whole family is not hungry"?
You must know that in the past 2-3 years, Junzheng Investment has reduced its holdings of Dongpeng Beverage and cashed out nearly 3 billion, and Qiaqia Food, Jiajia Food, Babi Food, and Guangzheng Ophthalmology have directly or indirectly benefited more than 720 million.
So, does this explain why Dongpeng Beverage has bucked the overall downward trend of food and beverage stocks and continued to rise? If the stock price of Dongpeng Beverage falls, the cash amount of Junzheng Investment will be less, and companies like Guangzheng Ophthalmology and Jiajia Food will benefit less!
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Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise! -
Dongpeng Beverage, China's most bullish beverage company: the more you reduce your holdings, the more you rise!