Leidi.com Rakuten September 17
According to the Hong Kong Stock Exchange’s disclosure of Hongjiu Fruit (06689) equity changes, from September 11 to 13, 2023, some H shares held by Hongjiu Fruit’s controlling shareholders Deng Hongjiu and Jiang Zongying experienced equity changes.
Among them, Deng Hongjiu and Jiang Zongying’s shareholdings both dropped from 27.1% to 26.12%. This means that in just a few days, the shareholdings of Deng Hongjiu and Jiang Zongying fell by 1.98 percentage points.
Deng Hongjiu and Jiang Zongying both reduced their holdings by 2.15 million shares on September 11, 2023, at an average price of HK$5.2576, and cashed out HK$11.3 million respectively; Deng Hongjiu and Jiang Zongying reduced their holdings by 4.888 million shares on September 12, at an average price of HK$5.0513 Hong Kong dollars, each cashed out HK$24.69 million; Deng Hongjiu and Jiang Zongying reduced their holdings of 2.205 million shares on September 13, with an average price of HK$4.7314, and cashed out HK$10.46 million each.
Based on this calculation, Deng Hongjiu and Jiang Zongying have cashed out about 100 million yuan in total.
On August 20, 2023, Deng Hongjiu and Jiang Zongying made a commitment not to reduce their shareholdings in the company. This reduction is, to a certain extent, a violation of the above commitment.
In this regard, Hongjiu Fruit claimed through a third party that the shareholdings of the two employee incentive platforms controlled by Deng Hongjiujiang Zongying and his wife had changed this time, and it was not the controlling shareholder who directly sold the shares.
It also claimed that the portion indirectly held by Chairman Deng Hongjiu through the employee incentive platform was not within the range of the number of shares directly held by individuals as promised not to be reduced, so it did not violate its previous commitment. However, this statement is still far-fetched.
As of today, Hongjiu Fruit’s share price is HK$4.78, with a market value of HK$6.774 billion.
Hongjiu Fruit was listed on the Hong Kong Stock Exchange in September 2022. At that time, it raised HK$500 million and became the "No. 1 Chinese Fruit Stock" in Hong Kong stocks. The opening and closing prices of Hongjiu Fruit Products were both HK$40. Based on the closing price, the company's market value was HK$18.683 billion.
In February 2023, the highest share price of Hongjiu Fruit was as high as HK$41.8. However, in just half a year, the market value of Hongjiu Fruit evaporated by more than 80%.
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