Chapter 344: Trading Suspension, Big Profits
"Oh, he really did buy it, but this time he changed his method and didn't buy it at the daily limit. It seems that he is really short of money."
After seeing Vanke’s announcement in the evening, Gu Junhao said with some amusement that it was actually understandable. At this point there was no need to push the stock price to the daily limit.
The higher the price limit is, the harder it is to buy. The result of everyone wanting to know that you want to increase your holdings is that everyone will be reluctant to sell.
However, this does not include Gu Junhao. Gu Junhao is still shipping out stocks in a rhythmic manner. It can be said that most of the chips that Baoneng bought in the past two days came from Gu Junhao's reduction of positions.
Within the two trading days of 15th and 16th, Gu Junhao sold a total of 100,000 positions, with a total of 210 million yuan in funds recovered. He currently still holds 400,000 lots of Vanke A.
Calculated based on the closing price on the 16th, the current market value of holdings is 807.6 million yuan, and the market value can be further reduced by approximately 200 million yuan.
Influenced by Bao Neng's continued increase in holdings, on December 17, Vanke A's share price opened high and continued to rise. The stock price trend was strong throughout the day and went straight to the daily limit.
In the end, Vanke's transaction volume today exceeded 5.6 billion yuan, and its share price was 22.21 yuan, approaching its historical high. Vanke, which hit the daily limit today, finally made it to the Dragon and Tiger list.
Judging from the Dragon and Tiger list, the buy one and buy two seats are both institutional seats, and the two major institutional seats bought a total of more than 2.6 billion yuan.
From the perspective of selling seats, the first selling seat was a hot money seat in Shenzhen, with a total sales of more than 440 million yuan.
Gu Junhao appeared in the second selling position. Today, he reduced his holdings of Vanke shares by 100,000 lots again. Junshi No. 2 ranked second in selling with a selling amount of more than 2.22.
This is also the first time that Gu Junhao appeared on Vanke's Dragon and Tiger List. With big funds competing for equity, it is still very difficult to appear on Vanke's Dragon and Tiger List.
Today, the net buying difference of Vanke's Dragon and Tiger List is as high as 2 billion yuan. Just when everyone is speculating whether Baoneng will continue to increase its holdings.
In the evening, Vanke’s announcement gave the answer. Anbang once again increased its stake in Vanke, raising its shareholding ratio from 5% to 7%.
At this point, the combined shareholding of the Baoneng Group and Anbang in Vanke has exceeded 30%. Under such circumstances, the market generally speculates whether Baoneng has formed a joint action group with Anbang.
After all, this kind of simultaneous increase in holdings is too coincidental. If the two parties form a joint action group, then controlling Vanke is a foregone conclusion, and Vanke's existing board of directors and management will also face the risk of reorganization and elimination.
On December 17, Vanke's current chairman publicly criticized Baoneng's acquisition of Vanke in very harsh words, including accusations against Baoneng's history of success, the unknown source of funds, and the extremely high risk of financing leverage.
Baoneng quickly responded to the accusations, saying that Vanke's acquisition was in compliance with regulations. The two sides then entered into a war of words.
The China Securities Regulatory Commission also responded to the dispute between the two parties for the first time. A spokesperson for the China Securities Regulatory Commission stated that acquisition and acquisition activities between market entities are market behaviors, and as long as they comply with laws and regulations, the regulatory authorities will not interfere.
The regulatory authorities will not intervene in this merger and acquisition from a policy level, which finally puts Baoneng's worries at ease.
On December 18, Baoneng continued to buy in the secondary market and purchased a large number of Vanke shares. After only half an hour of trading time, Vanke's stock price hit the daily limit and reached 24.43 yuan.
The price of 24.43 yuan also set a new historical high for Vanke.
The competition between the two sides was fierce, and Gu Junhao also profited from it. Within half an hour, the market value soared again by nearly 70 million yuan, and the market value of holdings also increased to more than 730 million yuan.
I didn't expect that a statement from the regulatory authorities would cause Vanke's stock price to react so strongly. It looks like there is a possibility of further increases, so there is no need to stick to the market value limit of 600 million, and you can sell a little more.
After thinking for a while, Gu Junhao said to Cao Wenxun: "Let's sell another 200,000 lots to reduce our holdings to less than half of the previous ones. If the price goes up, we won't have to do anything. If it goes down, we won't have to care about it."
200,000 lots is also based on the second selling position on the Dragon and Tiger List yesterday. Although ordinary people cannot see the institutional seats, it is not a secret for people with a big background.
In fact, as long as you are trading, your stock account is transparent to the corresponding brokerage manager and some higher-level people.
Gu Junhao, who had absorbed so much funds in the early stage , did not think that he could hide it from some people, but everyone did not care about this kind of extortionate behavior.
Continuous large-scale sales will make both parties appear more satisfied . If they hold on to the shares without doing anything, the meaning will be unclear.
After all, in the end, even a few tenths of a share would be enough to determine the outcome of both parties. Selling a large number of shares would be the safest option for Gu Junhao.
The total transaction volume of Vanke A reached 5.3 billion yuan throughout the day. With the rush of large funds, Gu Junhao's 200,000-hand position was sold smoothly, and all the sales were above the upper limit price.
At this point, Junshi No. 2 only holds 100,000 shares of Vanke, with a market value of 244.3 million yuan. Judging from the current pace, as the competition between the two sides becomes more intense, the stock price may still have several daily limits.
I definitely don't dare to hope for a market value of 600 million, but it shouldn't be a problem to increase it to around 300 million. So that's all I have left.
The continuous sale of 450,000 holdings also brought a total cash flow of more than 1.022 billion yuan to Junshi No. 2. This wave of profit can be said to be a huge profit!
On the after-hours Dragon and Tiger List, Junshi No. 2 also appeared in the Selling No. 1 position as expected, which is one step further than yesterday.
The second and third selling seats were all institutional seats. The two institutions sold a total of more than 300 million yuan. It seems that everyone has the same idea, which is to take advantage of the situation and run away.
On December 18, Baoneng announced again that it would increase its shareholding ratio to 24.26%; as of today, the Baoneng Group has spent a total of approximately 40 billion yuan to acquire such a large number of shares.
At this time, the company's management also realized that if they did not take effective measures to slow down Baoneng's offensive momentum, Baoneng would be able to obtain more than 30% of the equity in a few days.
In this way, it will be able to hold the controlling stake alone. After the market closed on the 18th, Vanke’s management directly announced the suspension of the company’s stock.
Stock suspension is usually the last resort for listed companies facing anti-takeover attacks. Announcing a stock suspension also means that all the cards in hand have been played, and this method is the only option to temporarily suspend the attack.
The suspension of trading under this emergency situation was not announced in advance to the original largest stockholder and no board of directors was convened to make a decision. It was entirely a unilateral decision made by the management.
This also caused obvious dissatisfaction among the original major shareholders. The current equity situation of the company announced at the time of the suspension of trading was mainly as follows: Baoneng Group held 24.26% of the shares, the second largest shareholder held 15.29% of the shares, Anbang held 7% of the shares, and the management held 4.14% of the shares.
The management's shareholding has dropped from 7% to 4.14%. It seems that the decline in the previous trading days was caused by the management, which is also a manifestation of their counterattack.
Suspension of trading is the first means of counterattack. After all, the Baoneng Group has not yet fully controlled the company, and it is very difficult to reorganize it.
Trading is not possible during the suspension period, but the leverage interest on financing does not stop; in fact, the management is not wrong, as Baoneng’s financing risk is indeed very high.
And this is the most critical point of management's counterattack.
The situation at this time is extremely unfavorable for the management. The original largest shareholder chose to stand idly by, Baoneng's offensive was aggressive, and the fourth largest shareholder held the key chips.
If the management is not careful, they will be eliminated, and the counterattack against Bao Neng will have to be accelerated.
The first step of counterattack is to target the source of Baoneng’s acquisition funds in an attempt to cut off its capital chain. Without follow-up funds, everything will be in vain.
