截至1月12日收盘，东方雨虹收盘价为18.16元/股，公司总市值为457亿元。据此计算，此次李卫国拟减持套现金额不超过9.15亿元。① Three months after the director “complained” about the company's stock price, Dongfang Yuhong Chairman Li Weiguo plans to reduce his holdings and cash out no more than 900 million yuan to fulfill the underwriting promise; ② Dongfang Yuhong said that the move was to protect the interests of employees of the shareholding plan, effectively boost employee morale, and promote the company's continued, stable and healthy development; ③ due to the doubling of the employee stock ownership plan, when the decline reached 50%, or equivalent to a loss of principal.
Finance Association, January 14 (Reporter Wang Bin) Three months after the director “complained” about the company's stock price, Li Weiguo, chairman of “waterproof mao” Dongfang Yuhong (002271.SZ), plans to cut his holdings and cash out no more than 900 million yuan to fulfill his promise to cover up the shareholding plan.
On the evening of January 12, Dongfang Yuhong announced that the controlling shareholder and actual controller Li Weiguo plans to reduce his holdings by no more than 50,3693 million shares (accounting for no more than 2% of the company's total share capital). In response to the reason for this reduction in holdings, Dongfang Yuhong said that according to the agreement, Li Weiguo provided a back-up guarantee for employees' funds participating in the 2021 employee stock ownership plan. The purpose of this move was to protect the interests of employees participating in the shareholding plan, effectively boost employee morale, and promote the company's continuous, stable and healthy development.
As of the close of January 12, Dongfang Yuhong's closing price was 18.16 yuan/share, and the company's total market value was 45.7 billion yuan. Based on this calculation, Li Weiguo plans to reduce his cash holdings by no more than 915 million yuan.
According to the announcement, Li Weiguo currently holds 571 million shares of Dongfang Yuhong Co., Ltd. (22.69% of the company's total share capital), and his net worth is equivalent to 10.369 billion yuan. Meanwhile, Li Weiguo pledged 289 million shares of the company, accounting for 11.49% of the company's total share capital and 50.65% of the company's shares.
On March 27, 2021, Dongfang Yuhong revealed the “2021 Employee Stock Ownership Plan (Draft)” for the first time. According to the shareholding plan, 1,611 people participated in this plan, and the plan is to raise no more than 1.7 billion yuan in capital. After the employee stock ownership plan is established, asset management/trust products will be set up to manage it, and it is proposed to achieve a ratio of no more than 1:1 between financing and self-financing through methods permitted by laws and regulations, such as securities financing, etc., that is, the loan amount does not exceed 1.7 billion yuan.
At the same time, in order to strengthen the incentive effect, Li Weiguo promised to provide a back-up for the shareholding plan and corresponding compensation at an annualized interest rate of 8%.
At the time, Dongfang Yuhong stock performed well, the stock price continued to rise, and the company's employees also participated actively. According to the announcement at the time, Dongfang Yuhong's 2021 employee shareholding plan's actual total contributions amounted to 1,377 billion yuan. In the end, 1,411 people participated, which meant that the per capita investment was close to one million yuan.
Notably, this shareholding plan also doubles the leverage. In the end, the employee stock ownership plan securities account purchased a total of 494.717 million shares of the company, with a total transaction amount of 2.76 billion yuan. The average transaction price was 55.78 yuan/share, of which 15 million shares were transferred by Li Weiguo. According to the announcement, the average transaction price of the 15 million shares sold by Li Weiguo this time was 53.79 yuan/share, with a total cash package of about 807 million yuan.
However, after the introduction of the employee stock ownership plan, Dongfang Yuhong's stock price immediately peaked in June 2021, and then fell all the way down. According to the latest stock price calculation, the total loss of Dongfang Yuhong's employee stock ownership plan has reached 1,862 billion yuan, with a loss rate of 67.46%. Since the employee stock ownership plan was leveraged by double, when the decline reached 50%, it was equivalent to losing the principal amount.
A CIFA reporter noticed that according to Dongfang Yuhong's 2023 three-quarter report, the employee's shareholding plan is 38.1757 million shares, a decrease of 11.296 million shares from the 494.717 million shares in the 2022 annual report. Also, according to Wind data, as of November 3 of last year, the employee stock ownership plan was no longer on Dongfang Yuhong's top ten shareholder list.
