Founder Securities "Unexpected" Into The Standard Bearer Of Securities Companies "Restructuring Variables" Who Is The Driving Force?

Founder Securities, unexpectedly become a stock market "leader" in the securities sector.

In fact, before the stock market has been declining for some time. However, on October 29, securities companies were strongly pulled up in the afternoon, and the ETF of securities rose from - 0.09% to + 1.01%. It is worth noting that Founder Securities led the rise, and has been rising for three days, with the highest daily increase.

Who is behind the market change seems to be a more concerned issue at present.

Will it be the next Everbright?

On October 29, Founder Securities surged to 8.57%, then closed at 5.02%.

Founder Securities's latest "performance" in the market appeared a week ago.

According to the reporter of the 21st century economic report, on Wednesday night, the news of Founder Group's restructuring of the candidate fund side was exposed. In the afternoon of the next day, Founder Securities "reveled alone" in the whole securities trading plate with a limit.

Affected by the market sentiment of the day, the limit board maintained for no more than 10 minutes, and then opened. But the information at least shows that some market funds are beginning to move on the stock.

"The current market performance is a bit similar to the market at the end of May, with relatively large fluctuations and strong gains led by securities companies." Some investors said.

Is Founder Securities the next Everbright Securities?

Different from Everbright Securities in the previous two years, Everbright Securities, after the collapse of MPS project, received a series of regulatory sanctions and internal adjustment and optimization. To a certain extent, the securities companies in the past two years through their own efforts to gradually repair the bad.

Comparatively speaking, the forward short interest of Founder Securities has not been solved.

According to the reporter of the 21st century economic report, since Founder Securities acquired national securities, the internal struggle between the two major shareholder systems has been on the table, and has continued to this day.

For example, around 2015, the infighting between the shareholders of the two parties became heated. In order to squeeze out the other party smoothly, it had evolved into a typical public opinion event. The illegal and illegal capital operation during the acquisition process were all shaken to the public at that time. In the event, the relevant shareholders fled abroad and moved 2.05 billion yuan of registered capital, pressing a pause button.

In fact, so far, Founder Securities's second largest shareholder, due to the transfer of 2.05 billion registered capital, before returning the money, still can not exercise the rights of shareholders.

According to the logic of an analyst interviewed in Shanghai, it is well known that the two shareholders have violated the law. If all the shareholders vote, more than 67% of the shareholders think that the second shareholder is an inappropriate person, they can forcibly transfer their shares. But up to now, the shareholding structure of Founder Securities has not changed.

"The equity of Founder Securities is too decentralized. In theory, if more than 11.14% of the shareholders are on the side of the two shareholders, the company can not force the transfer of its shares. Over the years, the ownership structure of major shareholders has not changed much. It is likely that shareholders with more than 11.14% of shares have objection. " Analysis of a securities firm investment bank.

Restructuring of Founder Group

The trouble with this equity problem is that if Founder group wants to repay the debt by transferring shares of Founder Securities, it will be very difficult.

"In terms of the shareholding ratio of Founder Securities, the transfer of 6% shares by Founder Group will result in the change of actual controllers of listed companies. However, if a listed company wants to change its actual controller, it needs to hold a general meeting of shareholders, and more than 67% of the shareholders agree to change the actual controller. " Said the investment bank.

21st century economic reporter understands that Gao Li, deputy director and President of Founder Securities Executive Committee, recently came out to interview the media and said that in 2019, "Fang min integration" work was successfully completed.

Even the Northeast Securities non bank financial group recently issued a research report that "the national securities integration work has been completed perfectly, and the investment banking business income has increased significantly."

How to self evaluate the substantial promotion of the "integration of the local and the people"?

The 21st century economic reporter called Mr. Gao Li, President of Founder Securities. Gao Li said that due to the possible restructuring of the company, it was inconvenient to respond at present.

However, some objectors think that if Founder Securities fails to "sell to pay off debts", this recommendation reason appears to be "only looking at the surface".

In fact, according to the reporter's understanding, "Fang min integration" is only a five-year task set for solving the competition among the same industry during the merger and reorganization.

It is true that the securities company will become a national sponsor in 2019.

The above-mentioned institutional investor believes that the relevant progress may give investors who receive the debt of Founder group a dose of emotional stability needle.

According to the reporter's understanding, there are public funds in the third quarter, or to fight for restructuring concept income.

According to the third quarterly report of Founder Securities, Yinhua Fund and CCB fund each have two allocation funds, listing Founder Securities as the top ten heavy positions.

Among them, the two products managed by Wang Haifeng, namely, Yinhua Xinrui flexible allocation and Yinhua Xinsheng flexible allocation, hold 2.8182 million shares of Founder Securities; while those of CCB, namely, CCB convertible bond enhanced bond fund managed by Li Feng and CCB profit enhanced bond fund managed by Niu Xinghua, jointly hold Founder Securities Bonds: 160400 shares.

The above four public offering fund products have not listed Founder Securities as the top 10 heavy positions in the mid-term report of 2020, which is expected to enter the market in the third quarter of this year to gain profits.