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Source: Dahe Financial Cube

[Dahe Financial Cube reporter Si Gaoyan trainee reporter Guan Shuaikang] on the day of the promulgation of the "National Nine articles," two leading securities firms were put on file for investigation by the Securities Regulatory Commission.

On the evening of April 12, China Nuclear Titanium dioxide (rights protection) (002145Portablepokertable.SZ) actual controllers Wang Zelong, Haitong Securities (rights protection) and CITIC Securities (rights protection) also received the "filing notice" of the Securities Regulatory Commission, pointing directly at the illegal transfer of Haitong Securities after the fixed increase of nuclear titanium dioxide in 2023.

Illegal transfer of China Nuclear Titanium dioxide shares involved

Citic Securities and Haitong Securities are filed by CSRC

On April 12, CNNC titanium dioxide announced that Wang Zelong, the company's actual controller, had been filed by the CSRC on suspicion of transferring the company's non-public shares in 2023 in violation of restrictive regulations and illegal information disclosure.

China Nuclear Titanium dioxide said that it has been confirmed that this investigation is aimed at the actual controller of the company. The company will continue to pay attention to the progress of the above matters and fulfill its information disclosure obligations in strict accordance with regulatory requirements.

It is worth noting that on the same day, the two leading brokerages Citic Securities and Haitong Securities, as well as CITIC Securities Sun Co., Ltd. (CITIC CITIC Capital Management Co., Ltd.) were put on file by the China Securities Regulatory Commission for investigation. the reason is that "the company is suspected of violating the law and regulations in the process of transferring nuclear titanium dioxide non-public shares in 2023 in violation of restrictive regulations."

With regard to the filing of the case, Haitong Securities and CITIC Securities both said in the announcement that they would actively cooperate with the relevant work of the China Securities Regulatory Commission and fulfill their information disclosure obligations in strict accordance with regulatory requirements. At present, the operation of Haitong Securities, CITIC Securities and CITIC Securities Capital is normal.

Citic Securities said that the company and CITIC Securities Capital will actively cooperate with the relevant work of the China Securities Regulatory Commission, and the company will also conscientiously study and implement the new "National Nine articles" of the capital market, insist on being investor-oriented and operate in accordance with the law. We should give full play to the functions of direct financing "service providers", capital market "gatekeepers" and social wealth "managers" to protect the legitimate rights and interests of investors. We will further enhance the level of compliance, professional service capabilities and core competitiveness, and better serve the high-quality development of the capital market.

Haitong Securities illegal transfer of increased shares?

From the summary of the information of all parties at present, Wang Zelong, Haitong Securities and CITIC Securities have been put on file for investigation, resulting in the illegal transfer of Haitong Securities.

On March 3, 2023, CNNC titanium dioxide directed additional shares raised 5.288 billion yuan, and leading securities firms such as China International Capital Co., Ltd., Huatai Securities and Guotai Junan participated in the subscription. Among them, Haitong Securities subscribed for 92.3986 million shares at a price of 5.92 yuan per share, with a subscription amount of 547 million yuan, ranking third. After the completion of the fixed increase, Haitong Securities holds 2.39% of the shares of medium nuclear titanium dioxide, ranking the fourth largest shareholder of medium nuclear titanium dioxide. According to the sales restrictions, the listing and circulation date of the unrestricted shares will be September 20, 2023.

Public data show that among Wang Zelong, Haitong Securities and CITIC Securities, only Haitong Securities subscribed.PortablepokertableMedium nuclear titanium dioxide will be increased in 2023.

According to the quarterly report of China Nuclear Titanium dioxide 2023, as of September 30, 2023, Haitong Securities is no longer in the list of the top ten shareholders of China Nuclear Titanium dioxide. At the end of the third quarter of 2023, the tenth largest shareholder of CNR titanium dioxide is Gansu Great Wall Xinglong Silk Road Fund Management Co., Ltd.-Gansu Great Wall Xinglong Silk Road Fund, holding 35.473 million shares.

This means that Haitong Securities transferred or reduced its holdings of at least 56.9256 million shares between September 20 and September 28 (seven trading days), accounting for 1.47 per cent of the total share capital of ultra medium nuclear titanium dioxide.

From the changes in the stock price, it was found that before the ban was lifted, the share price of medium nuclear titanium dioxide fell sharply. According to the highest price of 5.05 yuan per share from September 20 to 28, Haitong Securities is determined to increase its floating loss by more than 7% this time.

On April 12, the Shanghai Securities News reported that CITIC Securities had responded to the filing incident, saying that the matter involved in the above notice was that Citic CITIC Capital and the company's relevant business departments provided services for the transactions of relevant subjects in the process of transferring non-public shares of nuclear titanium dioxide in 2023.

So, what problems are involved in Wang Zelong, the real controller of medium nuclear titanium dioxide? We still have to wait for the results of the investigation to be released by regulators.

It is understood that Wang Zelong was born in 1996. In November 2019, Wang Zelong signed a share transfer agreement with Li Jianfeng, the real controller of China Nuclear Titanium White, to acquire Li Jianfeng's 27.05% stake in China Nuclear Titanium White for 1.636 billion yuan. In September 2020, China Nuclear Titanium dioxide raised 1.6 billion yuan from Wang Zelong's targeted offering, and Wang Zelong held 33.45% of the shares after dilution. According to the closing price on April 12, 2024, Wang Zelong holds a market capitalization of 5.683 billion yuan for CNR titanium dioxide shares.

Editor: Wang Shidan | Audit: Li Zhen | Supervisory Review: Wan Junwei