Interface News Reporter | Feng Yuchen
On December 18th, Rock Shares (600696. SH) suffered a hit with the daily limit down, with a cumulative decline of over 25% in the past four trading days.
In the announcement of the stock price fluctuation, Rock Corporation indicated that its related party, Haiyin Holdings (HYW.O), has experienced significant fluctuations. As of now, the company only has alcohol sales business with Haiyin Holdings and its subsidiaries, with a transaction amount of 48800 yuan. Besides, the company has no other business dealings with Haiyin Holdings.
The reason for this "explanation" is that Haiyin Wealth, a wealth company under Haiyin Holdings, was hit by a thunderstorm, and the actual controller of Haiyin Wealth and the current chairman of Rock Group have a father son relationship.
On December 13th, amidst rumors of delayed redemption of Haiyin Wealth products, the stock price of Haiyin Holdings plummeted by more than 42%. On the evening of December 14th, Haiyin Holdings announced that some of its distributed asset-backed products had redemption issues and could not reach a deferred redemption agreement with relevant customers. Although the company was only a distributor of these products, customers demanded repayment from the company. On December 17, the official WeChat official account of Haiyin Wealth said: "The project is delayed".
During the same period, Rock Group fell continuously from December 13th to 18th, hitting the limit twice in four trading days, with a cumulative decline of over 25%. According to Tianyancha data, Han Hongwei is the actual controller of Haiyin Wealth. According to the announcement from Rock Group, Han Hongwei and Han Xiao, the chairman of Rock Group, have a father son relationship.
On December 15th, Rock Group clarified on the interactive platform that Rock Group, along with Haiyin Holdings and its subsidiaries, only has alcohol sales business.
According to the data, the main business of Rocks is from real estate to Internet finance and then to Baijiu. The business has been adjusted several times while the company name and securities name have changed many times. In 2019, the company changed its name to "Shanghai Guijiu Co., Ltd.", and began to promote the development strategy of Baijiu industry.
After the determination of the main business of Baijiu, the revenue level of Rock began to rise. From 2020 to 2022 and the first half of 2023, the company achieved revenue of 79.7177 million yuan, 603 million yuan, 1.091 billion yuan, and 1.354 billion yuan, respectively. The liquor business became the absolute main revenue force of Rock Group.
In recent days, with the continuous decline in stock prices, Rock Group has proposed its first repurchase plan this year to "protect the market.".
On December 18th, Rock Corporation announced that it plans to repurchase company shares with its own funds ranging from 60 million to 100 million yuan, all for employee stock ownership plans or equity incentives, at a repurchase price not exceeding 32.6 yuan per share. As of December 18th, Rock Group reported a closing of 16.75 yuan per share.
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