A kindergarten in Qujing spent tens of millions to become the top ten shareholders of listed companies. Jiuding Investment: No related relationship

Red Star Capital Bureau reported on April 25 that a kindergarten in Yunnan spent tens of millions on stock speculation and became the top ten shareholders of the listed company Jiuding Investment (600053.SH), which attracted attention.
According to the 2023 annual report of Jiuding Investment, as of the end of the reporting period, Sunshine Garden Sunshine Kindergarten (\”Sunshine Garden Kindergarten\”) in Qilin District, Qujing City held 1.3938 million shares of the company, becoming the company\’s seventh largest shareholder.
Red Star Capital Bureau discovered through equity penetration that the investors of the kindergarten were connected to a partnership established by a subsidiary of Jiuding Investment.
Beijing Huitong Jiuding Investment Co., Ltd. was an early partner of a shareholder of the kindergarten, but the former has fully withdrawn in 2023.
On April 25, staff from the Securities Affairs Department of Jiuding Investment told the Red Star Capital Bureau that Sunshine Garden Kindergarten was indeed a shareholder of the company, but the company did not understand the shareholder’s situation and the reason for the purchase. “It (referring to the kindergarten) before and after the purchase. , has nothing to do with us.
\”The figure of Jiuding Investment emerged behind the kindergarten\’s investment of tens of millions in stock speculation. Red Star Capital Bureau reviewed Jiuding Investment\’s annual reports and found that in the fourth quarter of last year, Sunshine Garden Kindergarten became the company\’s top ten shareholders for the first time.
Based on Jiuding Investment\’s lowest price of 11.74 yuan per share in the fourth quarter of last year, the kindergarten would need to spend 16.363 million yuan to buy 1.3938 million shares.
Screenshot from Jiuding Investment\’s 2023 annual report Tianyancha shows that Sunshine Garden Kindergarten was established in May 2021 and is located at No. 90 Sunshine Garden Nanyuan Road, Qilin District, Qujing City, Yunnan Province. The start-up capital is 30,000 yuan, and the legal representative is Wang Aiping.
How can a kindergarten that was established less than three years ago and has only 30,000 yuan of capital to start up get tens of millions of dollars to invest in stocks? Red Star Capital Bureau found out that Sunshine Garden Kindergarten is one of the many kindergartens owned by Yunnan Expo Sunshine Education Investment Co., Ltd.
An article published by Yunnan Expo Education on its official WeChat account in January this year showed that the company’s Sifen Park is at the same address as the aforementioned Sunshine Garden Kindergarten, and the company’s general manager is also Wang Aiping.
In response to Sunshine Garden Kindergarten’s investment of tens of millions in stock speculation, Red Star Capital Bureau repeatedly called the numbers of Yunnan World Expo Education and Wang Aiping registered in the public information, but as of the time of publication, they were unable to get through.
Tianyancha shows that Yunnan World Expo Education was established in March 2010, with a registered capital of 20.4081 million yuan, and its legal representative is Zhang Ying.
The company currently has two major shareholders, namely Yunnan Expo Jiuding Tourism and Culture Partnership (Limited Partnership) (referred to as \”Yunnan Expo Jiuding\”) and Yunnan Changtian Real Estate Co., Ltd., with shareholding ratios of 50.9998% and 49.0002%.
Among them, the \”related products/institutions\” of Yunnan Expo Jiuding are shown as Jiuding Investment.
Yunnan Expo Jiuding, the two major shareholders of Yunnan Expo Education, was established in September 2016. Early partners include Yunnan Expo Tourism Holding Group Co., Ltd. and Beijing Huitong Jiuding Investment Co., Ltd. (referred to as \”Beijing Huitong Jiuding\”), the latter is Jiuding The company\’s wholly-owned subsidiary Kunwu Jiuding Investment Management Co., Ltd. holds 100% of the shares.
Historical partner information of Yunnan Expo Jiuding However, Beijing Huitong Jiuding has withdrawn from the ranks of partners of Yunnan Expo Jiuding in September 2023.
On December 22, 2023, the other two partners also withdrew on the same day.
Currently, the partners of Yunnan Expo Jiuding are Yunnan Changtian Education Technology Co., Ltd. and Yunnan Changtian Business Co., Ltd., holding 80% and 20% of the shares respectively.
Jiuding Investment’s response: It has no connection with the kindergarten. Last year, the actual controller of the company was banned from the market for five years. On April 25, staff from the Securities Affairs Department of Jiuding Investment told the Red Star Capital Bureau that the company’s subsidiaries were indeed partners of Jiuding at the Yunnan Expo. People, but will completely withdraw from the partnership in 2023.
The staff member also said that Sunshine Garden Kindergarten is indeed a shareholder of the company, but the company does not know the situation of the shareholder and the reason for the purchase. “It (referring to the kindergarten) has no relationship with us before or after the purchase.
\”The Red Star Capital Bureau noted that in February last year, Wu Gang, the actual controller of Jiuding Investment, was banned from the market for five years by the China Securities Regulatory Commission and fined 1 million yuan for violating fund-related laws and regulations.
According to the investigation by the China Securities Regulatory Commission, Wu Gang’s illegal activities mainly focused on intervening in fund business activities, including instructing Jiutai Fund to buy “Sanwei Silk” stocks through Jiutai Jiuli Flexible Allocation Hybrid Securities Investment Fund, and instructing Jiutai Fund to use Jiutai Jiuli to Initiate liquidation proceedings.
At that time, the China Securities Regulatory Commission also ordered Jiutai Fund to make corrections and impose a fine of 1 million yuan on Jiutai Fund’s behavior of participating in guaranteed fixed increases in five listed companies through Jiutai Jiuli and using fund assets to seek benefits for people other than fund share holders; and Warnings were given to many people directly responsible, their fund qualifications were suspended for 12-36 months, and they were fined 100,000-300,000 yuan.
The annual report shows that in 2023, Jiuding Investment achieved operating income of 281 million yuan, a year-on-year decrease of 35.07%; net profit attributable to the parent company was 15.3451 million yuan, a year-on-year decrease of 91.19%; net profit after non-attribution to the parent company was 10.05 million yuan, a year-on-year decrease of 94.13%.
Regarding the reasons for the decline in performance, Jiuding Investment explained that the existing funds in the company\’s private equity investment management business entered the exit period, resulting in a decrease in management fee income. At the same time, the number of project exits and project investment yields decreased compared with the same period last year, resulting in the company\’s management remuneration income and The investment income of the company\’s own funds decreased, the decline in fair value changes in this period was higher than that in the same period last year, and the carry-forward income of the company\’s real estate business in this period decreased compared with the same period last year. The above reasons combined led to a year-on-year decrease in the company\’s performance in this period.
(Source of article: Red Star Capital Bureau)