① Qian Shaozhi, the second shareholder of George Bai, received the “Decision on Administrative Supervision Measures” from the Zhejiang Securities Regulatory Bureau due to her daughter Fu Yi's short-term transaction; ② Fu Yi's father, Fu Shaoming, is also the fourth largest shareholder of George Bai and was the former vice chairman of George Bai; ③ The trading period constituting the short-term transaction was January 23 this year. George Bai's stock price rebounded three times in a row from the next day, immediately following the company's announcement of an estimated increase of 39.96%-72.89% in annual results.
Financial Services Association, Feb. 29 (Reporter Chen Kang) George Bai (002687.SZ) disclosed the “Apology Notice Concerning Short-Term Transactions for Relatives of Shareholders Holding 5% or More” this evening, claiming that Qian Shaozhi, a shareholder holding more than 5% of the shares, received the “Decision on Administrative Supervision Measures” issued by the Zhejiang Securities Regulatory Bureau due to the short-term transaction of her daughter Fu Yi.
However, what was not mentioned in the announcement is that Fu Yi's full identity is the daughter of Qian Shaozhi and Fu Shaoming. In the 2023 annual report disclosed by the company yesterday evening (February 28), it was also clearly stated that among the top ten shareholders of the company, Fu Shaoming and Qian Shaozhi are husband and wife.
Why did the announcement one day later mention only his mother and not his father about the background of the short-term trader Fu Yi's family?
Currently, Qian Shaozhi and Fu Shaoming are the second and fourth largest shareholders of George Bai, respectively, with shareholding ratios of 10.7% and 4.96%, respectively. In addition, in the shareholder list, the company's actual controllers Chi Fangran, Chen Yongxia, and Chi Ye are also a family of three, with a shareholding ratio of 24.07%. Chi is also the company's chairman.
According to the announcement, Fu Yi sold a total of about 99,800 shares of the company's shares on September 4, September 6, and January 17, 2024, with a transaction amount of about 540,000 yuan; he also bought about 66,500 shares of the company's shares on January 23, 2024, with a transaction amount of about 320,000 yuan. The relevant buying and selling behavior is less than six months apart, constituting a short-term transaction. The revenue from this short-term transaction was 48,851 yuan.
Among them, the period that constitutes a short-term transaction is January 23, 2024. On the same day, George Bai's closing price was 4.84 yuan, down 2.62%, while Fu Yi's average purchase price was 4.79 yuan/share. Basically, the transaction was in the low price range of the day. Over the next three trading days, George White's stock price rebounded three times in a row.
After the market on January 29, George Bai released a performance forecast. The company's net profit for 2023 was 170 million yuan to 210 million yuan, an increase of 39.96% to 72.89% over the previous year. The final annual report data showed a net profit growth rate of 67.21%. The day after the announcement of the annual report, on February 29, George White rose and stopped for a while until the closing report was 5.00 yuan/share, up 5.71%.
Judging from this, the time when Fu Yi bought back some of his shares in the early sale in the short term coincided with the eve of the announcement of the company's performance prediction. Now, with the official release of the company's annual report, its stock price has also risen above the price line Fu Yi bought on January 23.
So, is Fu Yi's background as simple as the daughter of Qian Shaozhi, a shareholder holding more than 5% of the company's shares?
As far as George Bai was established, according to the company's prospectus: On July 17, 2001, the Zhejiang Provincial Government Enterprise Listing Leading Group issued a document (Zhejiang Listing [2001] No. 47) to approve the establishment of Zhejiang George White Clothing Co., Ltd. and Chen Yongxia, Qian Shaozhi, Jiang Chengqing, Li Ge, and Chen Liangchuan to jointly initiate the establishment of Zhejiang George White Clothing Co., Ltd. In other words, Qian Shaozhi's status is not only a major shareholder, but also one of the company's veterans during its founding.
In the third quarter of 2018, George Bai disclosed an announcement to transfer shares by agreement with the actual controller. Chen Liangren, the company's largest shareholder and one of the actual controllers, transferred a total of 13.54% of his shares to Chi Fangran and Fu Shaoming through an agreement. The transfer price was 4.57 yuan/share, which is about 11.77% off the company's latest closing price of 5.18 yuan/share. The actual controllers of the company were changed to Chi Fangran, Chen Yongxia, and Chi Ye.
In this transfer relationship, Chen Liangren is the older brother of Chi Fangran's wife Chen Yongxia, and Fu Shaoming, who co-transferred Chen Liangren's shares with Chi Fangran, also held the position of Vice Chairman George Bai for many years. He is not only an important shareholder, but also an important senior person in the company.
However, in the short-term transaction apology announcement issued tonight, there was no mention of Fu Yi's father Fu Shaoming's shareholding situation and his previous employment in the company. The announcement only stated that it was verified that Ms. Fu Yi did not fully understand the provisions of relevant laws and regulations, did not learn enough about the company's early short-term transactions, and was a decision made by Fu Yi based on her personal independent judgment on the transaction situation in the secondary market.