Sino-Singapore Jingwei Client, September 14 (Gao Boning) On September 14, Tianyin Holdings had a lower limit and closed at 21.79 yuan per share. This is the second consecutive trading day that the stock has been heavily blocked. The closing ratios on the two trading days were 1306.35% and 5,229.33%, respectively, and the amount of the seals was 1,132.6638 million yuan and 1,235,299,600 yuan respectively. Earlier on the evening of September 12, Tianyin Holdings received a letter of concern from the Shenzhen Stock Exchange, asking whether the company would cooperate with shareholders to reduce their shareholding in the near future.
The stock price surge before the “official announcement” raises doubts about insider trading
Tianyin Holdings is mainly engaged in the sales of communication products and is the first-level agent in China for many mobile phone brands such as Samsung and Sony Ericsson. In the first half of 2021, Tianyin Holding’s communication product sales realized revenue of 35.43 billion yuan, accounting for 94.33% of the current total revenue of 37.56 billion yuan.
On September 11, Tianyin Holdings disclosed the “Reminder Announcement on the Planning of Major Events” stating that the company plans to participate in the joint acquisition of a mobile phone brand business, and the scope of the acquisition is planned to involve brand trademarks, research and development, and supply chain. The matter is currently in the initial stage of negotiation and planning, and it has not signed any letter of intent or related transaction agreement with the counterparty on the matter. As of the announcement date, the company has not determined the transaction subject, the specific scope of assets involved, and the transaction consideration, and has not yet conducted due diligence and auditing. , Evaluation and other related work.
The skyrocketing stock price of Tianyin Holdings took place before this news became public. Since the end of July, the trading volume of Tianyin Holdings has increased sharply, and the stock price has continued to rise sharply. Wind data shows that on July 28, the stock fell 2.66% and closed at 7.32 yuan, and then rose for 6 consecutive trading days; on September 9, Tianyin Holdings’ stock price once touched 27.85 yuan.
Prior to this, Tianyin Holdings had disclosed two stock price changes announcements on August 4 and 17. At that time, Tianyin Holdings did not mention the planning of the joint acquisition of a mobile phone brand, but stated that the company “has no undisclosed information that should be disclosed” and “the company’s controlling shareholders and actual controllers do not have any undisclosed information about listed companies. Disclosure of major events or major events under planning”.
In this regard, the Shenzhen Stock Exchange’s letter of concern also requires Tianyin Holdings to explain whether the contents of the two “Transaction Announcements” are true, accurate and complete. In addition, the Shenzhen Stock Exchange also requires the company to explain the main considerations and necessity of carrying out this transaction based on the current main business, industrial experience, financial strength, and business strategy. It also requires the company to combine media reports and market rumors to indicate that the company has failed The reasons for disclosing all transaction elements, whether the company’s information disclosure is true, accurate, and complete, whether it cooperates with shareholders to reduce their holdings, and whether there is an incentive to speculate on the stock price.
Acquisition rumors triggered changes in the stock price of Tinno Technology
On the evening of September 13, Tianyin Holdings announced that in accordance with the needs of strategic development, the company intends to apply for non-public issuance of corporate bonds of no more than (including) RMB 600 million to professional investors to meet the company’s production, operation and investment needs. Capital needs, or a prelude to joint investment.
Given that Tianyin Holdings stated in its announcement that the joint acquisition will not constitute a major asset restructuring, the market generally believes that the mobile phone brands that Tianyin Holdings intends to acquire are not among the brands with larger assets such as Honor. Some media quoted people familiar with the matter as reporting that Tianyin Holdings is contacting the mobile phone manufacturer Tinno Technology Group, which is listed on the NEEQ. On September 14, the Sino-Singapore Jingwei client called Tianyin Holdings and Tianlong Technology Group’s secretary office, but they were all unanswered.
Prior to this, the stock transfer price of Tinno Technology has reached the increase limit for several consecutive transfer days. After entering September, Tinno Technology Group has issued three relevant announcements on abnormal fluctuations in stock transfers. On September 14, Tinno Technology fell 4.87% to close at 3.32 yuan per share. (Zhongxin Jingwei APP)Return to Sohu to see more
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