SOHO China Chief Financial Officer was suspected of inside the stock trading and was investigated by the police!Company response →

07.07.2022

Number of this text: 2396, the reading time is about 4 minutes older

Guide: Soho China finally responded to the investigation incident of executives.

Author | First Finance Sun Mengfan

Nearly a day after fermentation, SOHO China (00410.HK) finally responded to the investigation incident of executives.

On July 7, SOHO China issued an announcement saying that there was a recent media report that the company's chief financial officer Ni Kwai Yang was under investigation by the police because of the inside story of the company's stock. The company knows the incident. The company's directors and other executives do not know that they are suspected of insider trading and have not been investigated, but they fully cooperate with the information provided by the relevant authorities.

Before the above survey was completed, Ni Kuyang could not fulfill the duties of the chief financial officer, and the company had temporarily transferred its duties to the company's financial director. Directors believe that the investigation has no major adverse effects on the operation of the group's business.

SOHO Chinese executives were first exposed yesterday. At that time, a Weibo netizen broke the news that the company's chief financial officer Ni Kwai Yang was taken away by the police for suspected insider transactions, and many executives of the company were also investigated. As soon as the news came out, it attracted the attention of the majority of shareholders, but yesterday SOHO China has not responded to the matter.

After the announcement was issued, the above rumors were confirmed. However, according to Soho China, other executives were not investigated except the chief financial officer Ni Kwai Yang, but only cooperated with relevant departments to provide information.

Ni Kuyang, who was officially investigated, was an old man who joined SOHO China for 14 years. Public information shows that Ni Kwaiyang was 44 years old. He graduated from the Department of Accounting of China Petroleum University in 1999. He joined SOHO China in July 2008, served as the chief financial officer from 2011 to 2013, served as vice president of the company in 2014, and served as chief financial officer in October 2018 Essence

This person who has more than 20 years of work experience in accounting is "suspected of insider trading of the company's stock." The reporter noticed that in the past few years when SOHO China is concerned about "selling" and frequently sold assets, several times have traveled sharply, and soaring and plunge often occur with the changes in transaction information.

For example, as early as March 2020, Soho China claimed that he was negotiating with overseas financial investors, which may lead to a comprehensive offer of the company's issuing shares. The company's stock price rose 38%a day. In November 2020, the rumors of the rumors became Gao Yan Capital. Although it was quickly denied by the latter, SOHO China ’s stock price also experienced a sharp rise.

The closest to the formal transaction was that on June 16, 2021, the Blackstone Group issued a comprehensive acquisition offer on it. It plans to invest in SOHO China Co., Ltd. to obtain its controlling equity. The acquisition price is HK $ 5 per share, with a total of 23.658 billion Hong Kong dollars. Before the news was released, SOHO China ’s stock price rose sharply for several days until doubled.

However, this sale has also discounts. On August 6, SOHO China issued an announcement saying that the Blackstone Group's offer to acquire all its issued shares, and the offer has received a notice issued by the State Administration of Market Supervision on August 3. The application submitted by the law will formally file for review.

One month later, Blackstone Group terminated acquisitions, and SOHO China's "selling body plan" was completely stranded. On the second day of the selling issue, SOHO China's stock price dived, and 35%fell back to the rumor of Blackstone's acquisition. After the executives were investigated today, the company's stock price continued to fall. As of the 7th closing, it was reported to HK $ 1.4, with a total market value of only 7.279 billion Hong Kong dollars.

After these twists and turns, SOHO China has also come to a difficult pass. In the past 2021, SOHO China belonged to the net loss of shareholders of the parent company approximately 131 million yuan, and the same period in 2020 was a profit of 537 million yuan. The main reason for the loss was about 439 million yuan in one -time tax and fees that confirmed the group's affiliated company. Earlier this year, 15 property management companies under SOHO China were fined 115 million yuan for illegal acts such as increasing power charges.

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