Recently, the mainland private equity fund manager Ye Fei exposed the shady business of the mainland stock market, and some mainland media took stock of the stocks named by Ye Fei and summarized the three characteristics of the banker stocks, reminding investors to be careful when investing in these stocks to avoid unnecessary losses.
According to the Beijing Business News on May 19, through the combing of the stocks named by Ye Fei, the three main characteristics of the stocks were found.
First, the actual liquidity is very small and the turnover is very low.
The report cited the example of Jinchuang Group, which has a total market capitalization of over 9 billion yuan (RMB, same below), of which the market capitalization in circulation is less than 3 billion yuan. Statistics from “Oriental Fortune” show that during the 48 trading days from January 14 to March 29 this year, the share price of Jinchuang Group climbed one after another, with a cumulative increase of 68.48%, but during this period, the total turnover of the company was 2.93 billion yuan, and the average daily turnover was only 0.61 billion yuan.
The circulating market value of Zhongyuan Home is less than 1.5 billion yuan, and between January 14 and March 30 this year, the company’s share price rose sharply by more than 50%, during which the turnover amounted to 1.82 billion yuan, and the average daily turnover was calculated to be only 0.37 billion yuan.
Independent economist Wang Chikun said, because the banker shares have been controlled, its actual circulation is very small is a major feature, which is also the reason why it is prone to flash crash down.
The low volume is accompanied by a low stock turnover rate. Data from Eastern Fortune shows that in April this year, the turnover rate of Jinchuang Group was less than 1% for several trading days, and the average daily turnover rate of “Chengdi Xiangjiang” has also been below 1% for a long time this year.
In addition, these stocks are basically dominated by small and medium-sized market capitalization shares, in the shares named by Ye Fei, *ST Zhongying, Zhongyuan home 2 shares with a total market value of less than 2 billion yuan, Longi Machinery, EUROCRANE, Haozhi electromechanical, ST Huayu, Xiangxin Technology, Chengdi Xiangjiang total market value between 2 billion to 5 billion yuan.
He Nanye, a brokerage investment banking practitioner, said that the dealer is generally a small market capitalization stocks, small market capitalization in circulation, small capital can pry the share price, better operation. Wang Chikun also said, compared to high market capitalization stocks, small cap stocks are better manipulated, do not need too much money, which is also one of the characteristics of the banker stocks.
Second, had a nonsensical rise but rarely see a stop.
June 2020 ~ September, was named by Ye Fei, EUROCRANE had a wave of big rise in the market, and in September 5 intraday hit a high of 20.36 yuan / share. According to statistics, in June 30 to September 4 of that year, the 49 trading days, EUROCRANE rose by 106.37%, while the general market rose by 13.3%. And against the company’s announcement at that time, there was no obvious good news. And in the above 49 trading days, EUROCRANE did not appear a stop board.
A small private sector in Beijing said, in accordance with the provisions of the stop board may disclose after-hours trading information of individual stocks, which is easy to expose the whereabouts of funds, so Zhuang shares even in the pull-up phase rarely appear stop board.
An investment banker who did not want to be named said, for investors, or to look at the fundamentals of the listed company, under manipulation, K-line chart can be done beautifully, do not just look at the K-line chart speculation.
Third, the top ten shareholders in circulation holdings are scattered, lack of institutional investors.
The Imhotep Group, named by Ye Fei, has flash crashed and dropped on March 31 and April 1 this year, and according to the company’s 2021 quarterly report disclosed, the top five shareholders and the tenth largest shareholders are private equity funds, in addition, there are natural persons Sheng Lingli, Ke Suhua and Lei Gang among the top ten shareholders, and no institutional investors appear.
From the perspective of the number of shares held, most of the top ten shareholders in circulation of today’s Genesis Group hold between 1 million and 5 million shares.
EUROCRANE saw a wave of share price decline in September 2020, and according to the company’s disclosed 2020 semi-annual report, eight of the company’s top ten circulating shareholders are natural persons, and the number of shares held is not high.
He Nanye said that the top ten shareholders in circulation holdings are relatively scattered, and mostly retail, no institutional investors, this situation is not necessarily a banker shares, but the banker shares basically have such characteristics. He Nanye reminded investors: “When encountering similar stocks, investors should combine the company’s K-line chart, trading information and other comprehensive judgment, cautious investment.”
On May 9, mainland private equity fund manager Ye Fei tweeted that the A-share listed company Zhongyuan Home found the plate party in the name of market value management, and he acted as an intermediary to set up the institution to take over the plate, but afterwards the cooperative plate party reneged on the final payment, leading him to be called by the next family for several million final payment. But he has not yet received the upper home fees, Ye Fei demanded that the “source of home” must appease him, otherwise the real name report.
Ye Fei said, ready to spend 40 days to expose the shady business of 18 companies.
Ye Fei said he originally planned to expose 58 listed companies, but because they do not want to be blacked out by the entire industry, finally decided to expose only 18.
On May 17, the first stock market trading day after the fermentation of Ye Fei’s exposure of illegal “market value management” incident, more than 50 stocks in Shanghai and Shenzhen fell by more than 8%, and more than 90 stocks in the ST stock sector fell, plunging and falling are small-cap stocks, with a market value of more than 10 billion. And six of the stocks named directly by Ye Fei fell.
On May 18 the class continued to sink, with many of the stocks named by Ye Fei or similar stocks such as EUROCRANE and Oriental Fashion continuing to fall.
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