"Next year's market value is not 50 billion, and I apologize." A remark by Chen Yubi, executive deputy general manager of NORD Shares, has aroused heated discussion.
Although the circle of friends was deleted in time, the Shanghai Stock Exchange still made serious criticism of this behavior and gave a regulatory warning to Chen Yubi. Some shareholders joked, "Cut belly market value management, up to see", "buy stocks can also save people, I don't kill Bo Ren, Bo Ren died because of me", "In fact, a 50% increase in a year is much more restrained than many sell-side analysts".
Coincidentally, after the "caesarean section" incident continued to ferment, NORD stock price rose by 6.54% and increased its market value by 2.16 billion yuan. As of the close of trading on October 27, the total market value of NORD shares reached 35.1 billion yuan, one step closer to the target of 50 billion yuan.
<h1 class="pgc-h-arrow-right" data-track="7" >01, 39 million worth of rhetoric</h1>
Although there are not many public information, chen Yubi, who has released harsh words, has a wealth of experience.
Born in 1966 and now 55 years old, Chen Yubi worked for a time in the electronics department of Formosa Plastics Group South Asia Company, and later became the sales manager of Guangzhou Hongren Electronics Industry Co., Ltd. In this way, Chen Yubi went from an employee to a manager of the sales department to the general manager of the South China region of Lianmao Electronics Co., Ltd., and every time he jumped jobs, he would improve.
In 2016, Chen Yubi became the executive deputy general manager of NORD shares and received attention. NORD shares are very praised by Chen Yubi, saying that he has worked in the electrolytic copper foil industry for circuit boards and lithium batteries for many years, has rich experience in international management and systematic operation of large enterprises, and has also given a good salary. In 2020 alone, Chen Yubi received an annual salary of 730,000 yuan from Nord.
(Screenshot of web page)
According to the Tianyancha App, Chen Yubi currently has a total of 4 companies under his name and is highly bound to NORD.
In addition to the listed company Nord shares, Chen Yubi is also the chairman of Qinghai Electronic Materials Industry Development Co., Ltd., a subsidiary of Nord shares, which holds 64% of the shares. In addition, Chen Yubi also served as an executive director and general manager of Shenzhen Baijiada New Energy Materials Co., Ltd. and Jiangsu Lianxin Electronics Industry Co., Ltd., the former of which is also a wholly-owned subsidiary of Qinghai Electronics.
Not only that, in order to tie Chen Yubi and others more firmly to the chariot, NORD once again released a big move, and completed the registration of the grant of the 2021 stock option incentive plan in April this year, and a total of 133 people were granted a total of 28.5 million stock options at a price of 7.55 yuan per share. Among them is Chen Yubi, who received 1,556,100 awards, accounting for 5.19% of the total number of grants, and he is also the largest recipient. Stock options are given over three years, which also gives Chen Yubi more motivation to express confidence.
Coincidentally, after the "caesarean confession" remarks swept the social network, on October 27, the stock price of NORD shares rose by 6.54% to 25.1 yuan / share, with a total market value of 35.1 billion yuan and a daily market value of 2.16 billion. In May this year, its stock price only remained at about 7 yuan / share. In just over 5 months, NORD shares have soared by nearly 260%, increasing their market value by 25 billion yuan.
According to the latest closing price, the value of Chen Yubi's above-mentioned options is as high as 39 million yuan, which is 53 times his annual salary. That is to say, from now on, Chen Yubi needs to work until he is 108 years old to get a salary equivalent to the above value. Of course, if NORD's market value rises further, Chen Yubi's floating profit from the stock options granted will continue to increase. When reaching the promised market value of 50 billion yuan, Chen Yubi will earn more than 43 million yuan by relying on the above-mentioned equity.
Iron also needs to be hard, in addition to the interests, NORD shares do have two brushes, the company is mainly engaged in lithium-ion batteries with electrolytic copper foil research and development, production and sales, and products are mainly used in the manufacture of lithium batteries. In 2020, NORD achieved revenue of 2.16 billion yuan, of which the revenue of the copper foil industry was as high as 1.89 billion yuan, accounting for nearly 90% of the total revenue.
Copper foil is a basic material of the modern electronics industry, according to the production process can be divided into two categories of calendered copper foil and electrolytic copper foil, and electrolytic copper foil can also be divided into lithium battery copper foil, electronic circuit copper foil two, of which lithium battery copper foil is mainly used in the field of lithium-ion batteries, such as consumer lithium batteries, power lithium batteries and energy storage lithium batteries.
Zhang Xiang, an automotive analyst and researcher at the Automotive Industry Innovation Research Center of the North China University of Technology, told the city, "The main role of lithium battery copper foil is to conduct electricity, which is a smaller part of the battery. With the energy density of the battery getting higher and higher, the copper foil must be as thin as possible, which must ensure the strength of the copper foil, so the copper foil used in the high energy density battery has a certain technical content in the production, which is a core technology for the company, or a core resource. ”
In addition, NORD co., Ltd. once revealed in the annual report that the company has two lithium battery copper foil-based production bases in Huizhou, Guangdong and Xining, Qinghai, and the production capacity will reach 50,000 tons / year and 20,000 tons / year respectively after completion, which is one of the leading electronic copper foil manufacturers in the domestic industry, and cooperates with Ningde Times, LG Chemical, BYD, Yiwei Lithium Energy and other enterprises.
"NORD shares are the industry leader, and the recent surge in stock prices is related to the worldwide battery shortage. Since the beginning of this year, the overall growth of new energy vehicles is good, and it is expected that the annual sales will reach 3 million vehicles, more than double the 1.2 million vehicles last year, and with the substantial increase in orders for new energy power batteries, the upstream lithium battery copper foil is in short supply, resulting in nord stock prices continuing to rise, as for the expectation of 50 billion market value, it is still relatively reliable," Zhang Xiang added.
<h1 class="pgc-h-arrow-right" data-track="104" >02, low-key Chaoshan gangster</h1>
When the market value of NORD shares continues to rise, the biggest beneficiary is the actual controller Chen Lizhi.
According to the 2020 annual report, Chen Lizhi indirectly holds 6.5% of nord shares through Shenzhen Bangmin Industrial Holdings Co., Ltd., and his shareholding is worth nearly 2.3 billion yuan according to the latest closing price. When the market value of NORD shares increases to 50 billion yuan, if Chen Lizhi's shareholding ratio remains unchanged, his net worth will reach 3.3 billion yuan.
(NORD 2020 Annual Report)
As the boss standing behind NORD shares, Chen Lizhi not only sits on billions of wealth, but also a hidden big man, nord shares are just the tip of the iceberg of its huge capital map.
According to the Tianyancha App, Chen Lizhi has a total of 29 companies under his name, and they are all "big guys" with a registered capital of tens of millions, from decorative materials to investment finance, which is more complicated.
Born in 1979 in Jieyang, Guangdong Province, Chen Lizhi is a very mysterious figure with very little public information. According to him, he started with electronic zero devices and electronic components, and found business opportunities after learning that some customers have capital needs but cannot get bank support. "By lending money to others, while making money on your own, you can also get praise from others", which became an opportunity for Chen Lizhi and his partner Xu Songqing to start a business.
After more than ten years of development, Founded in 2005, Nord Financial Group (later renamed Nord Holding Group) has become one of the domestic private quasi-financial fully licensed enterprises, with assets covering insurance agency, pawn, guarantee, leasing, small loans and fund management, with total assets of more than 10 billion yuan.
"Seeking greater success" is Chen Lizhi's ambition.
After making achievements in the financial field, Chen Lizhi set his sights on the capital market, and in order to achieve a backdoor listing, he took over the "hot potato" of Zhongke Yinghua. In May 2015, Zhongke Yinghua, which has not yet changed its name to NORD shares, released the news that Zheng Yonggang, the actual controller of the company, intends to transfer 57.4 million shares held by him through a block transfer, that is, to sell all his shares, and the transferee is Chen Lizhi's Bangmin Venture Capital under Nord Financial.
It is worth mentioning that before and after Chen Lizhi invested in NORD shares, the company was questioned by investors because of the "game" of failed restructuring and re-restructuring and failure. In October 2015, it was announced that the company was planning to acquire the copper foil business of a Korean company, with the comprehensive strength of the acquisition target being among the top three in the world, and signed an acquisition proposal, but cancelled the acquisition plan at the end of the year.
After the announcement of the termination, the stock price of the listed company plummeted, from the highest point of 14.23 yuan per share on June 18, 2015 to the lowest point of 5.5 yuan per share in February of the following year. This kind of trick has been staged three times in the past year, such as the announcement in 2016 that it terminated the three-year-old plan to acquire Dechang Houdi Rare Earth Mining Co., Ltd., and the same method was the same.
On the one hand, the "smoke bomb" is released in the capital market, on the other hand, NORD shares are constantly selling assets.
In October 2015, NORD announced the transfer of a 20% stake in Zhongrong Life Insurance Co., Ltd., a wholly-owned subsidiary, United Copper Foil (Huizhou) Co., Ltd., for a consideration of RMB 2 billion. Before the sale, NORD had been losing money for nearly two consecutive years, with a net loss of 262 million yuan in 2014 and another loss of 534 million yuan in the first three quarters of 2015.
After this operation, NORD shares not only avoided losses in 2015, but also made a profit of 160 million yuan. Since then, NORD shares have divested the original insurance, cable and other assets, successively sold their loss-making subsidiaries, optimized the industrial structure, and focused more on the main business, gradually forming the current situation.
<h1 class="pgc-h-arrow-right" data-track="105" >03, take off again? </h1>
Nord shares, which had originally divested the loss-making business, were preparing to take off, but they did not expect to "fly disaster".
In 2018, Jianrui wonng, the parent company of Watmar Group, the core customer of NORD Shares, declared bankruptcy. Waterma was once called the "power battery three giants" together with Ningde Times and BYD. In terms of performance development, Watmar even surpassed BYD at one time, with a quarterly profit of nearly 300 million.
This makes the already not rich Nord shares "worse". From 2018 to 2019, NORD co., LTD. recorded a large number of bad debts, and from 2018 to 2019, the company's operating income was 2.321 billion yuan and 2.15 billion yuan, and the net profit was 0.97 billion yuan and -122 million yuan. Liabilities soared directly from 3.5 billion yuan in 2016 to 4.8 billion yuan in 2018.
In the face of the "hot potato" in his hand, Chen Lizhi, who has been in nord shares for 5 years, "shot". In April 2020, NORD announced that it intends to spend 848 million yuan in cash to acquire 100% of the equity of Qingjing Copper Foil.
Various indications show that Chen Lizhi is highly "associated" with Qingjing copper foil. According to the Shanghai Securities News, more than a dozen companies under Chen Lizhi have similar industrial and commercial information with the acquisition target Ofe Qingjing Copper Foil, including telephone numbers, email addresses and other information.
After the matter was exposed, the contact information of all companies under Chen Lizhi's name was changed. A month later, the acquisition collapsed.
It is worth mentioning that Chen Lizhi's "folding" in capital operation this time has ushered in the fiery "outlet" of new energy, and Chen Lizhi, who is good at capital operation, did not miss this opportunity.
In December 2020, NORD shares threw out a fixed increase plan of 1.4 billion yuan, and issued 247 million shares to 15 investors, of which the controlling shareholder, Shenzhen Bangmin Industrial Holdings Co., Ltd., subscribed for 0.74 billion shares. However, in half a year, in June 2021, NORD shares launched a new round of fixed increase, and the total amount of funds raised did not exceed 2.288 billion yuan. Among them, 1.75 billion yuan of fundraising plans are planned to expand the production capacity of electrolytic copper foil.
NORD shares are frequently moved in the capital market, but they are not fully reflected in the company's performance. In 2020, NORD achieved revenue of 2.155 billion yuan, basically flat year-on-year, and net profit of 5.39 million yuan, barely maintaining above the profit and loss line.
And even with 1.4 billion yuan of fixed increase financing, NORD shares are still "short of money". As of the first half of 2021, NORD still has 4.58 billion yuan of debt, of which 1.68 billion yuan is short-term borrowings, while the book currency funds are less than 1.5 billion yuan.
However, after the release of the fixed increase plan in June, the company's stock price "soared". From 7.06 yuan / share on May 18 to 25.1 yuan / share at the close of October 27, the stock price soared by 255% in less than half a year.
The Shanghai Stock Exchange has "fixed" the remarks of nord's deputy general manager, but there is no doubt that this statement has "added a handful of firewood" to the continuous surge in nord's stock price in the capital market.
It seems that such a "arrogant" stock recommendation, many people take it seriously.
(Author| Feng Chenchen Zeng Jiayi Editor| Liao Ying)