國資委，請看在黨國的面子上拉兄弟一把！

1

今日來自上市公司的消息令人揪心。

一個是深陷擔保與收購泥潭的雛鷹農牧，其實控人及部分董監高等被動減持 1.25億元股票血本無歸。

另一個是幾次與國資談股權合作的怡亞通，火速對深圳市國資投懷送抱，拱手將第一大股東的位置出讓。而網友統計的一份數據顯示，目前有20多家民營企業希望出售股權給國企。

小時候看電影南征北戰，蔣軍一個部隊被我部包圍，不遠處就有張軍長率領的美式裝備的精銳部隊，被圍困之部多次呼叫張軍長解圍，但是張軍長為了保護自己的實力，置之不理，最後被圍部隊的最高指揮官不得不親自通話，聲嘶力竭地對著報話機絕望地呼喊：張軍長，請看在黨國的面子上拉兄弟一把！由於演員的逼真表演，我們那個時候的小孩子一遇到困難就會學著那個演員的樣子對周圍的人進行呼救。以致終身難忘。

2

先看一下雛鷹農牧今日的晚間公告，公告稱，收到公司控股股東、實控人侯建芳和部分董監高及其他核心管理人員的通知，由於近日公司股價下跌，其通過信託計劃持有的公司股份遭遇平倉，出現被動減持，數量為公司總股本的1.5%。目前，相關信託計劃持有的公司股份已全部變現。上述人員作為信託計劃次級委託人未產生任何收益，出資額及補倉金額合計1.25億元已全部損失。

這家民營企業，今年上半年被媒體質疑實際上並未專心養豬，四處收購一些業績不佳的公司，因此有了御用接盤俠的名頭，相關報道引起了深交所的關注，發了質詢函，受此事件影響，公司最近操作的7起收購項目也因為手續繁多未能完成，因此公司停牌3個月後無利好復牌，導致股價連續出現5個跌停，終於觸發強制平倉，從而令實際控制人以及部分骨幹的1.25億元化為泡影。

3

另一個則是怡亞通的。上週，深圳國資深投控正式入主怡亞通(002183)成為第一大股東。

從怡亞通的股價走勢來看，5月下旬一路下跌，從8.18元跌到了5.93元，公司不得不出臺了一個極其誇張的股票回購方案，用1000萬元到4.5億元的資金回購，最低與最高的金額相差了45倍！不是這個方案出臺，股價估計還要下跌。

怡亞通閃電擁抱國資並非個案，統計顯示，作為救世主的深圳國資，近期在A股市場動作不斷，除怡亞通外，夢網集團和科陸電子近期均獲深圳國資入股。

有機構分析，融資難加劇了部分民營公司和大股東的流動性風險，而股價持續下行導致高比例質押風險增加，引入資金實力雄厚的國資戰略持股甚至出讓控股權，成為脫困手段。

而深投控真是撿了一個大便宜。此前怡亞通的股價最高達到過37.13元，目前的股價，基本上已經回到2015年的價格。早在今年5月，怡亞通控股方就已將其所持有的13.30%的股份，按每股轉讓價6.45元進行了轉讓，股份轉讓總價款為18.21億元。

4

上述轉讓完成過戶尚不足一個月時間，9月10日怡亞通繼續賣，將公司5%股權轉讓給深投控，轉讓價格5.5元/股，轉讓金額5.84億元。完成後，深投控持有公司18.3%股權，成為公司第一大股東，原來的實際控制人周國輝成為第二大股東。

怡亞通的半年年顯示，這家公司的上半年的營業收入高達367億元，全年保守估計為700億元的話，這意味著深投控只用24億元就控制了一家年收入700多億元的公司。

“深投控的信用評級高，深投控成為公司的第一大股東後，公司在市場上獲取信用支持和資金支持的能力將會有很大的改善。”怡亞通被調研機構提問時如此回覆。

資料顯示，深投控是深圳市國資委履行出資人職責的輔助平臺，2017年總資產5000億元，營收500億元，年均利潤總額200億元，資本實力雄厚。在營收比怡亞通少185億元的情況下，淨利潤卻比怡亞通多了194億元！

除控股怡亞通外，深投控還持有深深房、天音控股、深紡織、深天地、通產麗星、國泰君安、國信證券、中國平安等多家上市公司股權。

5

不過，最令人吃驚的是，如此財大氣粗的金主掌權後，第一件大事居然是終止此前公司提出的回購方案！今日怡亞通公告稱，公司慎重研究後認為，繼續強行推進回購股份事宜，可能會引起公司相關債權人要求提供額外擔保或履行提前清償債務的義務，將對公司的資金安排、使用以及業務發展造成一定影響，給公司帶來較大的經營風險，最終會損害公司股東的利益。 公司董事會決定終止實施本次回購公司股份的事宜。停止回購股份事宜將使公司能更好地規劃資金的長期用途。

這樣重大的利好，上市公司說取消就取消？什麼回購引起債權人要求提供額外擔保這些事情，本來就是回購必須面對的事情。而且下限只有區區的1000萬元，真是做個姿態罷了，連這樣小小的承諾都要玩賴，這樣的國企公司著實令人不齒！

虧得還有那麼多人支持國企發展壯大，要是國企都像深投控這樣不講信用，而且敢於在證券市場上公開耍賴，這個股市才剛剛開始的反彈估計很快就要夭折了。

企業困難，國資部門在雙贏的情況下，出於國家整體利益的考慮，拉民營企業一拉，市場還是樂見其成的，畢竟如果像雛鷹農牧一樣，大股東不斷被強平，最終導致公司沒有實控人，一個好端端的公司因為股價跌破1元、沒有真心實意為其打拚的大股東而被迫退市的話，投資者的損失會更大，也會極大地影響社會、經濟的穩定。但是如果國企當家，第一件事就是失信於市場、失信於廣大二級市場的股東，這樣的上市公司，怎麼可能會將普通股東的利益放在心上？

雙語閱讀~

The latest risk control of the fund was introduced,

and the small-cap stocks may be cold!

The news from listed companies today is heartbreaking.

One is the young eagle farming and animal husbandry that is deeply entangled in the guarantee and acquisition of the quagmire. In fact, the controller and some of the directors of the board of directors have passively reduced their holdings of 125 million yuan.

The other is Yi Yatong, which has talked with the state-owned assets on several occasions. It quickly sent a gift to Shenzhen’s state-owned assets and handed over the position of the largest shareholder. According to statistics from netizens, there are currently more than 20 private companies wishing to sell shares to state-owned enterprises.

When I was a child, I watched the movie in the Southern Expedition, and a military unit was surrounded by our department. Not far away, there was an elite unit of American equipment led by Zhang Junchang. The besieged department repeatedly called for Zhang Junchang’s release, but Zhang Junchang ignored it to protect his own strength. Finally, the highest commander of the encircled troops had to talk in person, screaming and screaming desperately at the phone: Zhang Junchang, please look at the face of the party country to pull the brothers! Due to the realistic performance of the actors, the children of our time at that time will learn the actor's appearance and call for help from the people around them. So that life is unforgettable.

Let’s take a look at the evening announcement of the young eagle farmer’s animal husbandry today. The announcement said that it received notice from the company’s controlling shareholder, the actual controller Hou Jianfang, and some of the directors and other core management personnel. Due to the recent decline in the company’s share price, it passed the trust plan. Some company shares suffered a liquidation, and passive reductions were made, the number of which was 1.5% of the company's total share capital. At present, the shares of the company held by the relevant trust plan have all been realized. The above-mentioned personnel did not generate any income as a sub-client of the trust plan, and the total amount of capital contribution and the amount of the replenishment was 125 million yuan.

This private enterprise was questioned by the media in the first half of this year. In fact, it did not concentrate on raising pigs. It bought some companies with poor performances. Therefore, it has the name of the Royal Pickup. The relevant reports have aroused the concern of the Shenzhen Stock Exchange and issued a question. The letter, affected by this incident, the company's seven acquisitions have also failed to complete the procedures, so the company failed to resume trading after three months of suspension, resulting in five consecutive stock price declines, finally triggering forced liquidation, thus real control The 125 million yuan of people and some backbones have been reduced.

The other is Yi Yatong. Last week, Shenzhen State senior investment officially entered the company Yi Yatong (002183) became the largest shareholder. The reason why Shenzhen Investment Control Co., Ltd. reached the current transfer result at an unexpectedly fast rate this year, the company said that because the current macroeconomic environment still has very large uncertainties, private enterprises face various challenges in their development, especially the market. The problem of excessive capital costs. Cooperation with Shenzhen Investment Control is in line with the development of mixed ownership and perfectly matches the “Shenzhen Speed”.

Judging from the stock price trend of Yi Yatong, the company fell all the way from the 8.18 yuan to 5.93 yuan in late May. The company had to introduce an extremely exaggerated stock repurchase program, with 10 million to 450 million yuan of funds to buy back, the lowest 45 times the difference with the highest amount! Not the introduction of this plan, the stock price is estimated to fall.

Yi Yatong's lightning hugs of state-owned assets is not a case. Statistics show that as the savior of Shenzhen State-owned Assets, the recent action in the A-share market has continued. In addition to Yi Yatong, Monternet Group and Kelu Electronics have recently won shares in Shenzhen.

Institutional analysis, financing difficulties have intensified the liquidity risk of some private companies and major shareholders, and the stock price continued to decline, resulting in a high proportion of pledge risks, the introduction of capital strength of the state-owned strategy to hold shares or even sell control rights, become a means of relief.

The deep investment control is really a big bargain. Earlier, Yi Yatong's share price reached a maximum of 37.13 yuan, and the current share price has basically returned to the price of 2015. As early as May of this year, Yi Yatong's controlling party had transferred 13.30% of its shares at a transfer price of 6.45 yuan per share. The total price of the shares transferred was 1.821 billion yuan.

The transfer was completed in less than one month. On September 10, Yi Yatong continued to sell and transferred the company's 5% equity to Shenzhen Investment Holdings with a transfer price of 5.5 yuan/share and a transfer amount of 584 million yuan. Upon completion, Shenzhen Investment Holdings held 18.3% of the company's shares and became the company's largest shareholder. The original actual controller Zhou Guohui became the second largest shareholder.

Yi Yatong’s half-year year shows that the company’s operating income in the first half of the year was as high as 36.7 billion yuan, and the conservative estimate for the whole year was 70 billion yuan. This means that Shenzhen Investment Control has controlled an annual income of more than 70 billion yuan with only 2.4 billion yuan. Yuan company.

“Shenzhen’s credit rating is high, and Shenzhen Investment’s ability to obtain credit support and financial support in the market will be greatly improved after it becomes the company’s largest shareholder.” Yi Yatong responded when asked by the research organization.

The data shows that Shenzhen Investment Control is an auxiliary platform for Shenzhen SASAC to fulfill the responsibilities of investors. In 2017, the total assets are 500 billion yuan, the revenue is 50 billion yuan, and the annual average profit is 20 billion yuan. The capital strength is strong. In the case of less than 18.5 billion yuan in revenue than Yi Yatong, the net profit is 19.4 billion yuan more than Yi Yatong!

In addition to holding Yi Yatong, Shenzhen Investment Holdings also holds shares in a number of listed companies such as Shenfang, Tianyin Holdings, Shenzhen Textile, Shenzhen Tiandi, Tongxing Lixing, Guotai Junan, Guoxin Securities and China Ping An.

However, the most surprising thing is that after such a wealthy gold master took power, the first major event actually ended the repurchase plan proposed by the company! Today, Yi Yatong announced that after careful research, the company believes that continuing to force the repurchase of shares may cause the relevant creditors of the company to request additional guarantees or fulfill the obligation to pay off debts in advance, which will result in certain arrangements for the company's capital arrangement, use and business development.

The impact will bring greater operational risks to the company and ultimately harm the interests of the company's shareholders. The board of directors of the company decided to terminate the implementation of the repurchase of the company's shares. Stopping the repurchase of shares will enable the company to better plan the long-term use of funds.

Such a major positive, the listed company said canceled to cancel? What repurchase causes the creditor to ask for additional guarantees, which is what the repo must face. And the lower limit is only 10 million yuan in the district, it is really a gesture, even such a small commitment to play, such a state-owned enterprise is really ugly!

There are still so many people who support the development of state-owned enterprises. If state-owned enterprises are not as credit-worthy as deep-investment control, and they dare to publicly swindle in the securities market, the rebound of the stock market that has just begun is estimated to soon die.

Enterprises are in a difficult situation. Under the circumstances of a win-win situation, the state-owned enterprises are pulling the private enterprises for the sake of the overall interests of the country. The market is still happy. After all, if the peas are farming and animal husbandry, the major shareholders will continue to be forced and eventually As a result, the company has no real controllers.

If a good-end company is forced to withdraw from the market because its share price falls below 1 yuan and has no real intention to fight for its major shareholder, the loss of investors will be greater, and it will greatly affect society and economy. Stable. However, if the state-owned enterprises are headed, the first thing is to lose faith in the market and lose trust in the shareholders of the secondary market. How can such a listed company turn its interests of ordinary shareholders into consideration?

親愛的讀者：

為了給大家提供更好的投資公募基金的相關諮詢服務，我們將建立緊密的、喜歡基金知識的基金小密圈。

我們將以公平客觀的態度為廣大讀者提供基金交易最急需的知識，最穩健的投資策略，並及時對各基金品種做出點評，為讀者尋找中長期大概率能夠實現正收益的優秀基金品種。

為了提升小密圈質量，同時也為了維持運營成本，我們設置了一定的門檻。

現在您只需發送50元紅包，就可獲得無限次提問相關基金問題的機會（相同的問題僅限一次）。

我們期待您的加入！

掃描下方二維碼加入我們的基金小密圈吧（請備註“小密圈+您的名字”）

歷史熱文

平點金基微信公眾號已入駐螞蟻財富、雪球、今日頭條、東方財富網、一點資訊、新浪財經頭條、大魚號平臺、百度百家、企鵝號、網易號、嗨牛財經等資訊平臺。

閱讀更多 平點金基 的文章

關鍵字: 讀書 基金 黨國