Tianyi Technology Recaptures Frustration

As Tianyi Science and Technology struggled and was getting closer to the success of the reorganization, it suddenly began again.

The company issued an announcement yesterday and said that on April 4, 2014, it was notified by the China Securities Regulatory Commission that the relevant parties involved in the reorganization were suspected of illegally being investigated and put on record. The company’s merger and reorganization application was suspended for the time being, but it has not yet been received from the listed company. File an investigation notice. During the inspection of the case, the company will actively cooperate with the China Securities Regulatory Commission's audit work, and strictly perform information disclosure obligations.

This is not the first time that Tianyi Technology has suffered a restructuring failure. The Great Wall Assets, the largest shareholder, has undergone many restructurings in order to successfully withdraw its shareholdings, but all failed. Since last year, major shareholders have begun to plan to purchase 100% equity of Jingfeng Pharmaceutical through a fixed increase to transfer shell resources. During this period, they also passed the general meeting of shareholders to pass the insurance clearance, passed the first meeting without the approval of the China Securities Regulatory Commission, lowered the valuation of Jingfeng Pharmaceutical and continued to restructure. Twists and twists, until the company announced on March 27 reorganization has finally been approved by the Securities and Futures Commission, the reorganization seems to be a foregone conclusion. Unexpectedly, less than two weeks, the reorganization of renewable twists and turns.

With the reorganization of twists and turns, the company's stock price also fluctuates. As a result of negative influence of the reorganization party suspected of illegality, yesterday Tianyi Technology opened at the stop price, and soon opened the daily limit, but under a lot of selling pressure, there was no way to close the daily limit before the close of noon. According to the first consecutive non-SFC after the passage of five consecutive fall from the perspective of view, the stock has room for short-term decline.

However, the sell order for yesterday's low limit was not very large. At the close, there were only 12,972 sell orders at 10.84 yuan. At the same time, publicly traded information shows that three of the top five seats sold by Tianyi Technology yesterday were business departments, and the sales department of Yingbin Road, Jinjiang Securities, was sold for a reduction of RMB 17,621,500, and there were also two agency seats for sale. Second, the sale of four total reduction of nearly 13 million yuan. In contrast, the buyer’s power is more concentrated. Buying the top five seats is all in Shanghai’s brokerage business department. Huabao Securities Shanghai’s Tibet Middle Road Business Department buys as many as 24,527,400 yuan as a bargain and has already sold more than one seat. The amount of reduction. These seats were sold at the same time as the buy operation, but the accumulated net purchase of 43,313,600 yuan was more than the 37,644,000 yuan sold in the sale of the top five seats.

Once the reorganization party is suspected of illegally being investigated and placed on file, does it mean there is no hope of reorganization? But in fact, A shares are not without examples of successful reorganization. In the middle of last year, a listed company also issued the same news, but after being suspended for two months in mid-October, the China Securities Regulatory Commission resumed the review and quickly passed it unconditionally. This time, Tianyi Technology can be so lucky?

One side is seawater and the other side is the flame. Reorganization and mergers and acquisitions remain the eternal investment theme in the A-share market. The 6 billion transformation media company's Gaojin Foods and the new century, backed by digital lands, all hit a daily limit after the news was released. However, it seems that the recent reorganization of mergers and acquisitions is a period of high incidence. After Shun Rong Co., Ltd. and Xinfu Pharmaceutical were vetoed by the Securities Regulatory Commission, yesterday, in addition to Tianyi Technology, Fragrant Pear Co., Ltd. also stated that it “terminates major asset restructuring issues.” When participating in reorganization and reorganization, one must also stay awake.