Mr. Qi Dongyang, General Manager of Guangzhou Zhiguang Electric Co., Ltd.

This is Zhiguang Electric, a privately-listed company based in Guangzhou with high-voltage inverters as the main industry. According to the Shenzhen Stock Exchange, from November 22, 2010 to January 14, this year, seven senior executives of the company reduced the total amount of Zhiguang Electric's 4.46 million shares, which accounted for approximately 2.5% of the total share capital, and realized RMB 96.25 million in cash.

Reducing other major shareholders also happened at the same time. For two consecutive days in November 2010, the company’s corporate shareholder, Jinyu Group and natural person shareholder Li Yongxi, reduced their holdings by 5.7 million shares, accounting for 3.21% of the total share capital, and totaled approximately RMB 126 million.

"Shareholders and senior management are all out of their own needs for funds, and have no relationship with the company's fundamentals. The performance of the company in the first three quarters of last year was not bad." Zhiguang Electric executive secretaries recently expressed to the "Investor News". .

“Electrical Energy Saving” Helps Shares Up 8 Times in Two Years

Zhiguang Electric, which landed on the SME Board of the Shenzhen Stock Exchange in September 2007, is a typical electric energy-saving company. It mainly produces power grid safety and control equipment, motor control and energy-saving equipment. Zhiguang Electric started with the arc suppression coil business, but the arc suppression coil market has very limited development space. For better development, the company selected a high-voltage frequency conversion product after listing. At present, high-voltage inverters account for 64% of the total revenue of the main business.

Since 2009, China has initiated energy conservation and emission reduction. In 2010, it has issued a series of policies and conference spirits. From the State Council to the Development and Reform Commission, the Ministry of Industry and Information Technology, the Central Bank, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Taxation and other ministries have issued documents to require the use of planning, investment, Policies and measures such as industry, prices, fiscal and taxation, and finance will create a policy environment conducive to promoting energy conservation.

In 2009, Zhiguang Electric realized an operating income of 439 million yuan, an increase of 18% over the same period of last year; and a net profit of 40,126,200 yuan, an increase of 47% over the same period of last year.

On May 19, 2010, Zhiguang Electric's wholly-owned subsidiary, Zhiguang Energy, with a registered capital of up to 250 million yuan was established, marking the full advancement of the energy conservation service industry.

Heavy gold electrical energy saving and performance improvement have become catalysts for the stock price of the company. In the past two years, the company’s stock price has skyrocketed from around 3 yuan at the end of 2008 to the highest price of 24 yuan on December 20 last year.

One chairman cashed 45 million

In the current situation where the company’s energy-saving concept has been booming and stock prices have been rising, Zhiguang Electric’s executives have welcomed the opportunity to “golden eggs”. The company's controlling shareholder, Guangzhou Jinyu Group, held 60,212,600 shares of restricted shares and the promoter shares held by the company's senior executives on September 21, 2010, lifted the restricted sales and realized full circulation.

Two months after the restrictions on the sale of shares were lifted, Zhiguang Electric executives began high cash. Including the company's chairman Li Yongxi and vice chairman, general manager Yan Dongyang, deputy general manager Liu Yong and Jiang Xinyu, Han Wen and chief engineer Wang Weihong, and manufacturing center general manager Yang Xu, including seven executives and core management personnel are involved among them.

Li Yongxi, Chairman of the Board of Directors, opened the first round of reductions. On November 22nd, 2010, Li Yongxi sold RMB 1,200,000 shares of Zhiguang Electric through the Shenzhen Stock Exchange bidding trading system at an average transaction price of RMB 22.86, accounting for 2.3% of the total share capital. , 27.43 million yuan cash on the same day.

On November 23, 2010, Qi Dongyang, Liu Yong, and Jiang Xinyu reduced their holdings of 500,000 shares, 400,000 shares, and 300,000 shares, respectively, at a price of 21.84 yuan through large-scale transactions, with 10.92 million yuan, 8.736 million yuan, and 6.552 million respectively. yuan. At the same time, Yang Xu and Liu Yong also reduced their holdings of 180,000 shares and 30,000 shares at a price of 23.44 yuan and a price of 23.63 yuan, respectively, through the secondary market bidding transaction, with a cash-out of 4,219,200 yuan and 708,900 yuan respectively.

Afterwards, on November 24 and 25, 2010, Yang Xu shot two times, reducing the holdings of 40,000 shares and 180,000 shares at an average price of 23.91 yuan and 22.88 yuan respectively, and cashing out about 960,000 yuan and 4.12 million yuan respectively. Deputy General Manager Han Wen reduced the holding of 80,000 shares at a price of 23.82 yuan on November 24, 2010 and cashed out for 1.9 million yuan.

In December 2010, Jiang Xinyu, Wang Weihong, and Yang Xu also conducted five reductions. As of January 14 this year, the above seven senior executives reduced the total number of Zhiguang Electric's 446 million shares, which accounted for about 2.5% of the total share capital, and had a total of 96.25 million yuan.

Among them, the most cash-in-tube executive is Li Yongxi, the chairman of the board of directors. It has reduced 2.1 million shares and cashed in 44.66 million yuan. Followed by Yang Xu, a total reduction of 830,000 shares, cash out 17.72 million yuan; Jiang Xinyu and Qi Dongyang respectively cashed out 11.26 million yuan and 10.92 million yuan. In less than two months, four of the company's seven senior executives had pocketed more than 10 million yuan and the two pocketed millions.

It is worth noting that just before the company's shares were fully circulated, the company launched a good news of non-public issuance. On September 14, 2010, Zhiguang Electric announced that the company's non-public issuance of A-shares was approved by the China Securities Regulatory Commission. The company's non-public issuance of A-shares is no more than 20 million shares. It is planned to raise funds of 170 million yuan for 3000kVA. And above capacity intelligent high voltage super power high voltage variable frequency speed control system industrialization, expansion of enterprise technology center.

Accompanied with the favorable news that the company was approved in September, the company's secondary market share price has also steadily increased.

Controlling shareholders reduce holdings of 4.5 million shares a day

While executives reduce their holdings, other major shareholders are also reducing their holdings. On November 23, 2010, Zhiguang Electric's controlling shareholder Jinyu Industrial reduced 4.5 billion shares of Zhiguang Electric Co., Ltd. through the Shenzhen Stock Exchange's block trading system, which accounted for 2.53% of the company's total share capital. Calculated at an average transaction price of 21.84 yuan, Jinyu Group would Cash is 98.28 million yuan. This reduction occurred on the second day after Chairman Li Yongxi’s big reduction.

Jinyu Group entered Zhiguang Electric in 2002 and was involved with VC. The cumulative investment for the first six times before and after was only 13.784 million yuan. After two dividends after listing, the shareholding of Jinyu Group has increased to 601.216 million shares, accounting for the company. The total share capital is 33.84%.

According to the closing price of 22.79 yuan on November 24, the market value of the above-mentioned shares has reached 1.37 billion yuan. In 8 years, the initial investment cost return of Jinyu Group has been nearly 100 times.

As the actual controller of the Jinyu Group, Zheng Xiao is also the actual controller of Zhiguang Electric and is undoubtedly the biggest winner in this wealth-making campaign. As of now, Zheng Xiaofeng holds 53% of the Jinyu Group, and its indirect holding of the number of shares of Zhiguang Electric is 3,186.44 million shares.

However, Zheng Xiao did not participate in the management of the company, but he took care of his in-law Li Yongxi. Zheng Xiao was the spouse of Li Yongxi's sister.

As the sponsor shareholder of Zhiguang Electric, the winners who shared this capital feast included the company’s second-largest shareholder Credit Ventures and the original third-largest shareholder, Yueneng Power. The shares held by the two companies were lifted in December last year. Sale.

Creditworthy Ventures holds 12 million shares and holds a 7.24% stake. As of the first half of 2010, Integrity Venture Capital has cumulatively reduced its holdings to 687.70 million shares. In the third quarterly report released in 2010, Integrity Venture Capital was no longer among the top ten circulating shareholders of Zhiguang Electric.

The shares held by Yueneng Power were 8.845 million shares, which were sold through the Shenzhen Stock Exchange on September 15 and 17 last year and sold 270,000 shares of the company, accounting for 0.16% of the total share capital of Zhiguang Electric. On April 12, Yueneng Power once again sold 7.01 million shares at a price of 19.29 yuan per share through the large trading platform, with cash of 135 million yuan.

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