Suspecting insider trading Soho China CFO Ni Kuyang is under investigation

Author:Securities daily Time:2022.07.08

Wen | Wang Lixin

On July 7, SOHO China announced on the Hong Kong Stock Exchange that the company was under investigation by the company's knowledge of the chief financial officer Ni Kwai Yang for the inside story of the company's stock. The company's directors and other executives do not know that they are suspected of insider trading and have not been investigated. The "Securities Daily" reporter verified the relevant news to SOHO China as soon as possible. It is reported that Ni Kuyang used the known inside information to use stocks to cash with stocks in the acquisition of SOHO China. During that time, with various types of news, SOHO China's stock price often fluctuated. SOHO China said that due to the above survey, Ni Kuyang could not perform the company's chief financial officer's duties before the investigation was completed. The company has temporarily transfer her duties to the company's chief financial officer. The announcement also stated that the investigation has no major adverse effects on the business operation of the group. According to public information, in March 2020, the market rumor that Heashi Group is negotiating with SOHO China on the privatization, involving a transaction price of about 25.8 billion yuan. By November 13, 2020, there was market news that Gao Yan Capital was negotiated with SOHO China privatization. Although Gao Yan Capital quickly denied the news, SOHO China's stock price increased by 40%on the same day, and the closing was still rose 7 %. Until June 16, 2021, Blackstone Group officially issued a full acquisition offer to obtain SOHO China controlling stake. The acquisition price was 5 Hong Kong dollars per share, with a total amount of about 19.62 billion yuan. Subsequently, on August 6, 2021, SOHO China issued an announcement that the transaction with Blackstone Group was officially filed for review by the General Administration of Market Supervision in accordance with the antitrust law. On September 10, 2021, SOHO China issued another announcement that Blackstone Group terminated the acquisition of SOHO China. At this point, SOHO China ’s twists and turns for the“ Selling Plan ”was finally folded. "SOHO China has been selling assets in recent years, mostly to deal with declined performance and debt repayment. There is an idea of exiting the market. "Xiao Yunxiang, a senior analyst at the Tongce Research Institute, told the Securities Daily reporter that from the perspective of the company's business model and financial report performance, the current business situation is not optimistic. In this regard, Xiao Yunxiang further stated that in the early years, SOHO China was also a business model of dual -housing and commercial trails. However, after two major transformations, its business model is currently limited to renting the owner of the owner. At present, it is light asset operation, the debt pressure is small, but the scale of business is low and the growth rate is slow. Especially after the epidemic, the office leasing market has been hit. According to the 2021 annual report, during the reporting period, SOHO China achieved operating income of 1.742 billion yuan, a year -on -year decrease of 20.53%, and the net loss attributable to shareholders of the parent company was 131 million yuan, which was a year -on -year turnover and loss. As of December 31, 2021, SOHO China's mobile debt exceeded the flow assets of RMB 2.339 billion, while bank deposits balance was RMB 84.858 million, structural deposit balance was RMB 1.378 billion, and the balance of cash and cash equivalent was 7.3. 100 million yuan. “为了提振业绩，SOHO中国董事长潘石屹也曾努力过，比如转型做联合办公空间业务，即SOHO 3Q，但后来并未取得预期的成果。”某分析人士向《证券日报》记者直言，从At the moment, the model of selling assets in exchange for performance is not sustainable, and the company still needs to find a way to turn a profit. As of the closing of July 7, SOHO China's stock price reported at HK $ 1.4, a decrease of 2.78%, and the market value was HK $ 7.279 billion. This newspaper will continue to pay attention to SOHO China CFO's survey incident.