Cashing over 300 million dry photo photoelectric into a shareholder cash machine

Changzhao Optoelectronics (300102), which was repeatedly abandoned by executives and shareholders, announced yesterday that it was once again reduced by Sequoia Capital China II Holdings SRL, which holds more than 5% of its shareholders. On November 1, the shareholder reduced its holding of 5 million shares of the company's unrestricted shares, which accounted for 1.69% of the company's total share capital.

According to the information on the bulk trading of the Shenzhen Stock Exchange, since September this year, there have been 20 large-scale transactions in the company, which sold a total of 16 million shares, with a turnover of 364 million yuan. The sales department is mainly concentrated in CITIC Jiantou Beijing Wangjing Zhonghuan South Road Sales Department, CITIC Jiantou Beijing Anli Road Sales Department, and Everbright Securities Danyang Zhongxin Road Sales Department.

Unlike most stocks, Ganzhao Optoelectronics has been in a state of high volatility this year. Until September 8, the company announced that the director, the secretary-general and responsible person Ye Sunyi and another founder shareholder Zheng Shunyan jointly sold 2 million shares that had just been lifted.

According to public information, the average transaction price of Ye Sunyi and Zheng Shunyan's reduction on September 8 was 30.03 yuan/share. On the same day, the share price of Ganzhao Optoelectronics reached 32.98 yuan/share, the highest in the past two months. Subsequently, the stock price of Ganzhao Optoelectronics began to fall into a crash. As of yesterday's close, its share price has fallen by 31.53%, far exceeding the decline of the index. The precise reduction of Ye Sunyi and Zheng Shunyan also triggered outside doubts as insider trading.

In addition, the reduction of the third largest shareholder of Ganzhao Optoelectronics and the well-known venture capital Sequoia Capital has also attracted widespread attention from investors. On October 28, Sequoia Capital reduced its holding of 5 million shares of Sunshine Optoelectronics through a block trade. After the reduction, it still holds 40.489 million shares, accounting for 13.73% of the total share capital. Analysts pointed out that due to the large number of shares held by Sequoia, after the stock price plunged more than 40%, it suddenly reduced its holdings. If it really moves the idea of ​​strategic retreat, then the future will continue to bear more pressure.

For the reasons for the continuous reduction of executives and shareholders, some analysts pointed out that the company's operating conditions should be the focus of attention. According to the third quarterly report that Ganzhao Optoelectronics just announced, the company achieved a net profit of 43.355 million yuan in the third quarter of this year. The accumulated net profit in the first three quarters was 131 million yuan, and the earnings per share was 0.44 yuan. Although there is still growth compared to 2010, this result is much lower than the previous expectation that the company will “speed up in the second half of the year”.

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