China’s mainland private equity fund manager Ye Fei continued to ferment, said to expose 18 A-share listed companies “sitting” the dark secret. The land media said that this would be the largest “joint bookmaking” case since the existence of the Chinese capital market. The Securities Regulatory Commission issued a statement on the 16th that it had formally intervened to launch an investigation.
On May 18, the mainland media Jinjiao Finance reported that recently, private equity fund manager Ye Fei broke the news that he would expose one A-share listed company’s irregular “market value management” every week, and a total of 18 companies would be exposed. This is a case of listed companies allegedly “sitting on the market”, involving listed executives, private equity, public funds, many stockholders and fund investors, which was revealed by a private equity vlogger.
If it is true that the 18 listed companies violated “market value management” as reported by Ye Fei, this will be the largest “joint farming” case since the existence of Chinese capital market, no less than the “Chinese version of the Wolf of Wall Street This is no less than the “Chinese version of the Wolf of Wall Street”.
Behind the scenes, the A-share market “market capitalization management” has existed for a long time industry shady, that unspoken, open secret.
Ye Fei explains the reason for the revelation
A few days ago, the mainland e company connected with Ye Fei, on his “expose the incident” to communicate with him. Ye Fei explained the reason for the revelation. He said, initially “Shen Wan Hongyuan Liu Peng as a middleman to find me, said the source of home to do market value management, said ‘the ticket to rise’. In fact, as a middleman, can only get a service fee, so the rise and fall has nothing to do with me.”
The company’s main business is to provide a wide range of products and services to its customers. Thereafter the promised final payment were not given, and my 50,000 to 70,000 yuan brokerage fee was not received.”
Since then, he said, Liu Peng kept perfunctory, and Guan Xuan kept reminding him of the payment. He asked the chairman of the company, and then the company side sent an intermediary to contact him, saying that he would give him about a million fees. But did not continue to implement; instead, he kept asking him whether there is a register of shareholders, he replied to each other “you guess”, which also realized that the other party may be cheating him.
Since then, there is a listed company alarm, Ye Fei continued to expose the situation.
Ye Fei exposed in the source of home “sitting” shady
On May 9, Ye Fei tweeted that the A-share listed company in the name of market value management to find the plate side, he acted as a middleman to set up institutions to take over the plate, but afterwards the cooperation plate side to pay the final payment, resulting in him being under the call for several million final payment.
But he has not yet received the upper home fees, Ye Fei demanded Zhongyuan home, must appease him, or else the real name report.
For Ye Fei’s exposé, Zhongyuan Home responded on the 13th: no use of any form of “market value management”, and executives did not contact Ye Fei, and to Ye Fei defamation as the reason to the public security organs.
At the same time, zhang Yun, director secretary of Zhongyuan home also shouted through the media: the company has no business dealings with Ye Fei, not involved in any market value management behavior. This matter has been filed with the Zhejiang Securities Regulatory Bureau and the SSE.
This move triggered a high degree of dissatisfaction in Ye Fei, May 14, Ye Fei named a number of listed companies and brokerage firms in succession in the microblogging, the A-share market, “the shady business” to the center of public opinion.
Ye Fei originally planned to expose 58 listed companies
The company’s main business is to provide a wide range of products and services to the public.
After exposing more than half of the listed companies on the list, Ye Fei openly crowdfunded “exposé fee” to his fans on Weibo, saying that the next step will be to disclose the dark information behind the public fund taking over.
Ye Fei disclosed on Weibo that he originally planned to expose 58 listed companies, but because he didn’t want to be blacked out by the whole industry, he finally decided to spend 40 days to expose the dark secrets of 18 companies, “data resources of several hundred G”.
May 15, Ye Fei and respond to the source of home: we are through the middleman to and from, if we directly to and from, that enough trust, will report you?
Ye Fei said in an interview with the e company: he has exploded nearly 10 companies, and 7 or 8 companies. He just exploded the clues of suspected illegal crimes, do not need to provide a complete chain of evidence, that is what the regulatory authorities to do. Now there is big data, recordings, phone calls, all to leave a trace, public funds and capital management sometimes with the lock-up, sometimes with the pick-up.
A number of listed companies named by Ye Fei have issued clarification announcements one after another.
Ye Fei incident fermentation small-cap stocks plunged
The continued fermentation of the Ye Fei incident has triggered a high degree of concern from the relevant departments, following the 13th, the SFC issued a letter requesting the source company to self-investigation, sending agencies to interview the company and related parties to initiate verification procedures, the evening of the 16th, the SFC announced that the suspected manipulation of Litong Electronics, Zhongyuan Home and other stock behavior of the relevant accounts for investigation.
The SFC also said that it will resolutely implement the “zero tolerance” approach to crack down on all kinds of major violations, including vicious market manipulation and insider trading, from a strict, fast and serious perspective.
On May 17, the first stock market trading day after the fermentation of Ye Fei’s “breaking news”, the stock market showed extreme divergence: more than 50 shares fell by more than 8% in the two markets, the ST stock sector, more than 90 stocks down, plunging and down are small-cap stocks, the market value of more than 10 billion or less.
The stocks directly named by Ye Fei, 10 “Ye Fei concept stocks” in 6 down, the market value of a significant dive.
Ye Fei believes that the stock price fluctuations and he has little to do with the public opinion to push the wave of responsibility. Ye Fei also said that he broke the news motivation is not for the tens of thousands of dollars. I suggest that the future whistle blowers reward system, or will promote the fund manager to report “sitting”.
Ye Fei’s revelation this time caused great concern in the industry. Ye Fei was once a private equity champion, is now a money broker.
The A-share market “market value management” shady
A financial media report said that recently many financial people are apprehensive, staring at Ye Fei’s microblog and live, afraid that the next to be exposed is their own company and project. Behind the scenes, the A-share market “market value management” has been a long-standing industry shady secret, that unspoken, open secret.
According to the report, the need for “market value management” of the company, almost all of the value management into the “share price management”, that is, manipulation of share prices, sitting on the bank to harvest. Once you say “market value management”, the market unspokenly knows that it is “sitting on the bank”. This has almost become a feature of the A-share market, and deformed into a tumor of the securities market with earnings fraud, insider trading.
From Ye Fei’s information, we can see that this is currently the largest violation of the Chinese securities market “market value management” case, is the result of many interested parties, including the plate side, holding party and various links of intermediaries and other “joint sitting”.
Liang Rui’an, general manager of Shanghai Main Jun Asset Management Center, tweeted on the 15th that the two days of “market value management” were fierce, and pointed out that most of the stocks under “market value management” were small-cap companies, and these small-cap companies were too small in terms of market value in circulation, and their share prices were easily manipulated. It is easy to be manipulated.
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