Ye Fei, a mainland private equity fund manager who recently exposed the shady practices of the mainland stock market, was interviewed by the Chinese Communist Party’s Securities Regulatory Commission on May 19. After the interview, Ye Fei said that he would keep his mouth shut from now on.
According to mainland media, at 5 p.m. on May 19, Ye Fei’s newly released microblog shows that he just finished a meeting with people from the SFC and submitted a lot of information. Also newly exposed a public fund cooperation of listed companies, but the name is confidential, while mentioning that the code has two 3.
Ye Fei said: from now on, to keep their mouths shut. No longer talk about the relevant sensitive content.
In the photos posted by Ye Fei can be seen, a China Securities Regulatory Commission notice of investigation shows: due to the need for investigation, according to the “People’s Republic of China Securities Law” of the relevant provisions, I will decide to investigate you to understand the situation, please cooperate.
Before that, Ye Fei said he had received information from the CSRC’s General Inspection Team, and the other party said that for Ye Fei’s real name reporting matters, he wanted to keep in touch with him at all times and agreed to meet on May 19.
On May 18, Ye Fei said he had left Chengdu for Shanghai, and at 9 a.m. on May 19, Ye Fei posted a microblog saying he wanted to meet with the leaders of the CSRC. Since then, Ye Fei has not updated the dynamic.
At 5 p.m., Ye Fei posted on Weibo that he said goodbye to a leader of the Shanghai Securities Regulatory Bureau and the SEC’s Inspection General Team, and that he did not disclose any information about the content of the conversation with the SEC.
On May 9, 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 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 he was ready to spend 40 days to expose the shady business of 18 companies. He originally planned to expose 58 listed companies, but because he did not want to be blacked out by the entire industry, finally decided to expose only 18.
After Ye Fei exposed the news of the mainland A-share dealership, it created a huge storm in the mainland, and the stockholders referred to similar stocks as “Ye Fei concept stocks”. The stocks of listed companies accused by Ye Fei of “market value management”, such as Oriental Fashion, Zong Ying Internet and EUROCRANE, plummeted, and a large amount of capital fled.
Min Chaoran, a partner at Wanshang Tianqin (Shanghai) Law Firm, said, “In mainland China, many of the demand side of market value management is a major shareholder, he has to sell to reduce his holdings, in order to maximize the benefits of selling, will hope that the share price has a short rise, then he will seek some ways to find some intermediaries, so that the performance of the secondary market share price can be the same cycle with the expectations of the shareholders. Fei Ye is actually a representative of the intermediary involved in the process.
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