Mido Wealth Management Co., Ltd. (hereinafter referred to as "Miduo Fortune") official website released the third phase of product net worth may be zero incidents caused market concern.
Behind it is the Jiuding Group (430719.OC) fixed project that has been popular in the market.
Some insiders revealed to reporters that the abovefundIs the orientation of Jiuding participating in the middle level share of the subscription trust planAdditional issuanceAfter Jiuding's share price fell sharply, it had lost its late share, and the net value of the intermediate share fell to zero.
Respondents speculated that investors would choose a one-year extension without a net worth clearing option.
On January 9th, people from Jiuding Group said in an interview with the 21st Century Business Herald: "No company of Jiuding Group or Jiuding has any equity or relationship in Mido Fortune." At the same time, it denies market rumors that Jiuding Group may participate in the processing. After the increase, the stock price plummeted.RepurchaseRumors of shares.
At present, the value of the new three-board fund products has shrunk dramatically, not just cases.
Net worth zero
On December 29, 2018, the three communication letters issued by Mido Fortune on the official website showed that Mido Fortune established Mido Assets on June 2, 9, and 15, respectively.Jiuding InvestmentDirectional issuance investment funds No. 1, No. 2 and No. 3, with a term of 6 + 6 months.
After the above fund was established, all funds were invested in the Class A sub-share (intermediate level) of the “Chongqing Trust-JiDing Win-Win 2nd Collective Fund Trust Plan”. The trust plans to purchase the new three-board listed company Jiuding at a price of RMB 20/share. The group has issued a total of 100 million shares of 100 million shares.
announcementIt is said that investors can choose to postpone for one year or withdraw at the current price. It is worth noting that if you opt out, after deducting the priority principal and interest, the net value of the three fund products will be zero.
In the same period, a total of 19 asset management products participated in the increase of Jiuding tens of billions, and the current losses are serious.
In 2015, Jiuding will set a price increase of 20 yuan/share, and will increase 500 million shares, raising 10 billion yuan. This fixed increase will push Jiuding to the market value of 100 billion. According to the announcement at the time, a total of 22 investors participated, including 19 asset management products and 3 natural persons.
After the transfer, the shareholding cost is about 7.33 yuan / share.
On March 27, 2018, Jiuding GroupResumption of tradingAfter the resumption of trading, the stock price all the way down to 0.8 yuan / share. Domi Wealth Announcement, currently attributed toshareholderThe net assets per share was 1.76 yuan per share.
On January 9, Zhang Run, an investment partner, told reporters: "The fund is a private placement of Jiuding through the subscription of the intermediate share of the trust plan."
Zhang Chi, chairman of Xinding Capital, said that “Chongqing Trust-JiDing Win-Win 2nd Collective Fund Trust Plan” isGrading FundThe grading fund is more common in the 2015 and 2016 A-shares. Many inferior funds have been cleared after the stock market crash. However, due to the poor liquidity of the New Third Board, the grading fund occasionally saw in 2015. The new three boards are rare. If it is a flat fund, some investors will not lose so much.
Zhang Chi introduced that in the extreme case, the general treatment of such graded funds is that the manager buys the priority funds and becomes a priority fund to solve the problem. Or let the inferior funds regularly fill in the interest of a part of the priority funds, let the products continue to survive, not let the product end, wait for moreHershey'smachine.
Jiuding response has nothing to do
Then, will the Jiuding Group as the target be affected?
Zhang Run said that due to the sharp drop in Jiuding's share price and the heavy losses of shareholders, this will have a negative impact on Jiuding's brand image and even business. "As for whether Jiuding will buy back shares or buy back shares at any price, one depends on whether the relevant gambling agreement was signed with Jiuding or its shareholders at the time of investment, and the second is to look at investors and Jiuding. The game."
According to industry practice, it is an industry practice to sign a “drawer agreement” between a fixed-income fund and a listed company's actual controller, but it does not mean that there is such an agreement for each fixed increase.
On January 9th, a person from Jiuding Group said in an interview with the 21st Century Business Herald: "The products of Mido Fortune are market-oriented products, which have nothing to do with our company. The company does not need to do anything. No repurchase is required."
However, public information shows that Jiuding Group is not unrelated to Mido Fortune.
According to public information, the aforementioned three fund managers are Mido (Beijing) Asset Management Co., Ltd. (hereinafter referred to as “Miduo Assets”), and Mido Wealth holds 99% of Mido Assets. Many funds of Mido Assets participated in the investment of Jiuding and its affiliates.
According to the introduction of Mido Fortune, it was established in September 2014 and is the leading wealth management platform in China.Financial managementThe Advisor (IFA) is an innovative platform for wealth management services for middle class and above clients.
It has been reported that Mido Fortune has conducted two rounds of financing, with A round of financing of 10 million yuan, investors of Guoke Jiahe and Jiuding Investment; Group B financing of 147 million yuan, the investor isSatellite petrochemical. Huang Xiaojie, the current general manager of Jiuding Group, holds 7.45% of Mido Fortune as a natural person shareholder, and the paid-up capital is 5.52 million yuan.
In addition, the National Enterprise Information Publicity System shows that Wang Du, the majority shareholder of Mido Fortune, and the legal representative of the company, Huang Xiaojie, the current general manager of Jiuding Group, jointly invested in Beijing Zicuo Investment Holdings Co., Ltd. as a natural person shareholder.
The reporter contacted Mido Fortune to keep up to date with the latest situation, but as of press time, no reply was received.
For the new three boardNet value of fundThe industry may be worried about the possibility of returning to zero. On January 9, Zhou Yunnan, founder of Nanshan Investment, said: "Although this is an extreme case of the serious decline in the value of the new three-board fund products, it may not be just a case. Many new three-board fund products are currently facing serious losses and cannot be withdrawn. There are three reasons for the double risks and pressures: First, the overall liquidity of the New Third Board is too poor, resulting in the low valuation and lack of liquidity of most companies;PerformanceNot as expected or even a sharp decline; Third, the fund products are blindly optimistic when setting up and investing, resulting in short product deadlines and high cost. If the liquidity of the New Third Board is not effectively improved, the thunder of the new three-board fund products will be more and more explosive. ”
(Article source: 21st Century Business Herald)