A mainland vlogger questioned Makara’s financial fraud, causing its share price to fall. The picture is a file photo.
On March 13, an online article written by an Internet vlogger questioned the financial fraud of Shepherd Field, which has a market value of more than 400 billion yuan (RMB), by inflating its net profit by 1 billion yuan, which sparked a heated debate in mainland investment circles.
Many mainland media news, with 88,000 fans of the well-known snowball ID “Tiandi Chivalry” (real name: Wang Weihua) 13 on the snowball table “Makara will be a thunderbolt? The company’s shares were falsified. “Wall Street Insight” reported that “Tiandi Chivalry” believes that Shepherd Plains has inflated its net profit by 1 billion RMB. The article raised a number of questions about Shepherd Field, focusing on three areas.
- the fixed assets of Shepherd’s Field are too high, almost equal to the sales revenue, and the fixed assets/sales revenue are much higher than other listed companies in the same industry.
- the existence of a large number of connected transactions (about 19 billion yuan in the past two years) between Shepherd Field and the construction company of the controlling shareholder, implying that Shepherd Field Construction, which builds piggy banks, makes a lot of money from the listed company.
- Minority shareholders ROE (return on net assets) is much lower than parent company shareholders ROE, minority shareholders ROE is only 13.98%, while ROE attributable to parent company shareholders is as high as 47.88%, which is equivalent to these minority shareholders in partnership business with listed companies that do not earn money.
“Heaven and earth warrior shadow” said: when the unbeatable LeShi, is through the annual loss of minority shareholders profit and loss to highlight the profitability of the listed company! Only now, the pastoral market value has dried to 400 billion yuan. If there is really lightning, inflated net profit of 1 billion yuan, I’m afraid it is far from hit!
After the release of this article, the capital circle triggered a heated debate, as of 14 21:00, the number of comments on the article more than 2600, involved in the discussion of more than professional investors, brokerage analysts, etc..
After the debate, the three questions raised by “Heaven and Earth Warrior Shadow” have been answered by professional investors, and as reported by “Brokerage China” on the 15th, the answers to the first two questions have been approved by “Heaven and Earth Warrior Shadow”. The answers to the first two questions were approved by “Tiandi Chivalry”.
Eventually, the “Heaven and Earth Warrior Shadow” will question the core of the third issue: the huge amount of related transactions of She Yuan shares, and said that this is the responsibility of the Shenzhen Stock Exchange, the Securities Regulatory Commission and the taxation department, “this is not a question letter and the company a few simple answers can solve the problem “.
In the face of increasingly intense bickering, the afternoon of March 14, Shepherd Plains shares in the investor interactive platform side response that the company’s costs are accounted for using the parallel carryover method, production costs directly related to breeding costs are included in raw materials, depreciation and other corresponding accounts; management costs, manufacturing costs, etc. are included in other expenses.
Although the surface of the controversy Shepherd shares clarified certain questions, but March 15 morning trading, Shepherd shares opened 2.48% lower, as of the close, the stock fell 5.58%.
It is reported that Wang Weihua, once a researcher in the field of network communications at the University of Melbourne in Australia, resigned and became an individual investor with the screen name “Tiandi Chivalry”, active on Sina Weibo, stock bars, Snowball.com and other social networking sites, raising questions about some listed companies in the A-share market and Hong Kong stock market, of which Guanghui Energy is one.
On September 2, 2013, Guanghui Energy reported the case to the China Securities Regulatory Commission, and the case was filed the next day.
On October 12, 2013, Wang Weihua was detained at his Home in Shanghai for “allegedly fabricating and disseminating false information about securities and futures trading”, and was arrested a month later for “allegedly damaging business reputation”. In 2015, “Heaven and Earth Warrior Shadow” was sentenced to one year and six months in prison for the crime of damaging the business reputation of Guanghui Energy.
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