① At the results meeting held today, investors' questions about falling stock prices continued throughout; ② However, the responses provided by company executives were “undernourished”, which aroused more dissatisfaction among investors after the meeting; ③ The impact of the divorce incident of Jin Lei, the soul figure of Jinsai Biotech, on the company's stock price also drew a lot of questioning from investors.
Financial Services Association, March 25 (Reporter He Fan) Changchun Hi-Tech announced its 2023 financial report on the evening of March 19. Since then, the company's stock price has “continued to fall.” At the results meeting held today, investors could feel their dissatisfaction with the stock price across the screen, yet the responses provided by company executives were “not very nutritious.” Even when faced with questions about the company's existing or developing products, most of the responses from executives were only “Please pay attention to the company's annual report and investor exchange records”, etc. This practice aroused more dissatisfaction among investors after the meeting. Furthermore, the divorce incident of Jin Lei, the soul figure of Jinsai Biotech, had an impact on the company's stock price, which also drew a large number of questions from investors during today's performance meeting.
Since 2014, Changchun Hi-Tech's net profit growth rate has dropped to single digits for the first time. Just after the 2023 report was released, the company's stock price fell 2.57% the next day, and has also shown a continuous downward trend for 3 trading days since then. Investors' questions about falling stock prices continued throughout the results session, and some even bluntly said, “Do you feel like the company's stock price is being shorted together?” “What kind of meeting is going on? Stocks are falling every day!”
When investors question “Will the company go down?” At the time, Ye Peng, director of Changchun Hi-Tech, answered, “It's impossible to fall or not. The fall is an outcome you and I don't want to see.”
According to the 2023 profit distribution plan, the company plans to distribute a cash dividend of 45 yuan (tax included) to all shareholders for every 10 shares, totaling about 1,820 billion yuan in dividends, accounting for about 40% of the year's net profit.
Faced with the company's large dividends, investors don't seem to be paying for it. Some investors still think they should “increase the dividend ratio, or carry out mid-term dividends in 2024. After all, the amount of dividends in previous years was too small, too small.” Chairman Ma Ji only thanked him for this proposal and made no further statement. On the other hand, there are also people who questioned the starting point of the first major dividend when performance stalled in 2023. The company's director Zhang Desheng replied, “This profit distribution plan was made on the basis of fully incorporating factors such as the company's development stage and future capital requirements.”
“In the future, if there are no special major expenses and no special circumstances triggering in the Articles of Association of Companies, the company is confident that it will achieve shareholder returns for the next two years under the requirements of the dividend plan mentioned above,” Zhang Desheng said in response to a question from the Financial Federation reporter about whether the practice of large dividends can continue. However, as of the press release, the company had not responded to various questions from the Financial Federation regarding sales expenses and the impact of competitive long-term growth hormone on the company.
In January of this year, Jin Lei, a former major shareholder of Changchun Hi-Tech Company and the soul figure of Jinsai Biotech, divorced his wife Wang Simian, and the cutting of their Changchun Hi-Tech Co., Ltd. caused a stir. According to the divorce agreement, Jin Lei plans to split his 30.141,000 shares of the company, accounting for 7.42% of the company's total shares, into Wang Simian's name. After the split is completed, Jin Lei himself will only hold 1.14% of the company's shares.
The news came true. On January 12 and 13, the market value of Changchun Hi-Tech fell to nearly 5 billion yuan. Afterwards, Changchun Hi-Tech released favorable news such as conference call announcements, repurchases and increased shareholders' holdings by key players, shareholder return plans with annual dividends of at least 40% of distributable profits, and pre-performance increases, and only then did the stock price gradually stabilize.
Today, questions about Jin Lei are also frequently raised. Everyone is concerned about whether his personal wealth will increase in the future, as well as his marital status. Faced with some similar issues, Jiang Yuntao, general manager of the company, repeatedly called on investors to ask rational questions.
In addition, the company's new performance growth points, ongoing product development, real estate business, etc. are also topics investors are concerned about, but most of them have not received a positive response. This approach caused many investors to complain about the results of this event at stock bars and leave comments on “answer questions and be silly!” “Basically an incorrect answer.”