Late last night, the Chinese internet industry quietly sparked a wave of heat, and Qihoo 360's “backdoor A-share listing” plan surfaced. It was reported in the early morning of the 3rd that Jiangnan Jiajie Elevator Co., Ltd. released a major asset restructuring report. Among the names of the parties that purchased the assets, Tianjin Qixin Zhicheng Technology Co., Ltd. ranked first. According to the report, after the transaction was completed, the actual controller of the listed company was changed to Zhou Hongyi.
Jiangnan Jiajie announced that after the transaction is completed, Qixin Zhicheng will hold 48.74% of the company's total share capital and will be the controlling shareholder of the company. Zhou Hongli directly holds 12.14% of the company's shares, indirectly controls 48.74% of the company's shares through Qixin Zhicheng, and indirectly controls 2.82% of the company's shares through Tianjin Zhongxin, and controls a total of 63.70% of the company's shares. He is the actual controller of the company.
Qihoo 360 made a surprise investment in Jiangnan Jiajie Taikang behind the shell
Since Qihoo 360 was valued at 10 billion dollars when it was privatized, the buyer team's multi-tier distribution attracted a large number of investors. 360 returns to A-shares, and all listed companies participating in it are bound to receive attention from investors in the secondary market. If investors are unable to buy relevant stocks, arbitrage through heavy-duty funds is also a good choice.
According to previous relevant announcements, among the A-share companies that indirectly participate in 360, CITIC Guoan holds a large amount of shares, with an investment amount exceeding 2 billion yuan. The total shareholding is expected to account for 4.46%. Next is Tianye Co., Ltd., which has invested more than 600 million yuan. Other participating listed companies that have invested more than 200 million yuan include Zhongnan Culture, TV and Radio Media, Yake Technology, Zhejiang Yongqiang, and 37 Mutual Entertainment.
Since privatization officially began, Qihoo 360 has gone a long way to return to A-shares. The number of capital participants and the complex operation methods are rare in the A-share market. In addition to the various capitalists and bosses who sat directly at the dinner table, there were also some people who chose the right table early on — the company's original shareholders.
By sorting through the top ten shareholders of Jiangnan Jiajie, Sina Finance discovered that the top nine shareholders were all natural persons, and that the tenth largest shareholder was a product of Taikang People's Insurance. According to data, Taikang People's Insurance's products, which are currently ranked as the tenth largest shareholder, first appeared in the 2017 interim report, while the 2017 quarterly report did not have any appearance. In other words, the Taikang People's Insurance product was bought by Jiangnan Jiajie just before it was suspended. The stock holding market value was over 50 million yuan. If you were lucky enough to buy it in advance, you could probably make two to three hundred million dollars.
It is worth noting that Guangfa Xinyuan Hybrid A (002135) and China Southern SSE 380 ETF also have small holdings, and the number of shareholders is 25,200. It can be seen that Taikang People's Insurance is not the only “lucky one.”
A perfect miss? Many heavy-duty funds withdrew in the last quarter
Looking through Jiangnan Jiajie's financial reports, we can see that there are only two funds left in the three-quarter report, and they are all lightly traded. However, at the time of the interim report, there were still 28 funds holding positions. Among them, several quantitative funds, such as Shenwan Quantitative, had large positions. The number of tradable shares held was 952,200 shares, and the market value held in circulation was 8.369,500 yuan. As of the release of the third quarterly report by Jiangnan Jiajie, all of the funds mentioned above have been cleared. In this way, it seems that a group of funds, led by Shenwan Quantification, may have suffered extremely heavy losses.
