Four shareholders of Palm Technology cashed in 1.3 billion yuan in two months, which is nearly three times the net profit in 2015

On May 4, Palm Technology issued a reduction announcement stating that Yao Wenbin, chairman of the company, reduced his holdings of 36 million shares of the company, with a cash amount of 401 million yuan.

On May 4, Palm Technology issued a reduction announcement stating that Yao Wenbin, chairman of the company, reduced his holdings of 36 million shares of the company, with a cash amount of 401 million yuan.

In less than half a year, Palm Technology has experienced frequent reductions in holdings by four important shareholders. In addition to Yao Wenbin, it also includes the company's second largest shareholder Ye Yingtao and the third largest shareholder Huayi Brothers. According to financial data, since March 2016, the above-mentioned shareholders have reduced their holdings of the company's shares by a total of 117 million shares, with a total cash withdrawal of 1.316 billion yuan.

In sharp contrast, in 2015, Palm Technology realized a net profit of only 470 million yuan, equivalent to 2.8 years of net profit reduced by the four major shareholders in just two months.

During the year, 4 important shareholders of Palm Technology reduced their holdings of 117 million shares in total

, according to the announcement that the Company received the notification letter from Yao Wenbin, the controlling shareholder, on May 3 and 4, Yao Wenbin reduced 13 million shares and 23 million shares of the Company respectively through the bulk trading system of Shenzhen Stock Exchange, accounting for 1.3% of the total share capital in total, and the average price of reduction was 11.27 yuan/share and 11.06 yuan/share respectively. After the reduction, Yao Wenbin still holds 494 million shares of the company, accounting for 17.80% of the total share capital, and is still the controlling shareholder of the company. According to the announced reduction price calculation, Yao Wenbin this reduction, cash amount as high as 401 million yuan.

However, this is not Yao Wenbin's first reduction in holdings this year. Data shows that Yao Wenbin also reduced his holdings of 13 million shares of Palm Technology on March 15 and 16 this year, with the average price reduction of 10.7 yuan/share and 10.58 yuan/share respectively, and the total cash amount reached 277 million yuan.

Coincidentally, on the same day that Yao Wenbin reduced his holdings, Song Haibo, who was then a company director at Palm Technology, also reduced his holdings in the company. The announcement showed that on March 15, Song Haibo reduced his holdings of the company's shares by 14.3619 million shares at an average price of 11.11 per share, cashing in 160 million yuan. After the reduction was completed, Song Haibo also held 45.1028 million shares of the company, accounting for 1.63% of the total share capital. It is worth noting that since Song Haibo left his post on April 7 this year, it is unknown whether there will still be subsequent reductions.

In addition to company executives, in 2016, Palm Technology was also "smashed" by many important shareholders. Among them is Ye Yingtao, the company's second largest shareholder. According to data, Ye Yingtao started serving as a director of Palm Technology in October 2010 and resigned on July 23, 2015. On March 22 this year, Ye Yingtao reduced her holdings of the company's shares by 10 million shares, accounting for 0.96% of the total share capital, at an average price of 12.15 yuan/share, and cashed in 146 million yuan.

In addition, among the "army of reducing holdings", Huayi Brothers, the third largest shareholder, is also represented. The announcement shows that on March 9, 11 and 17 this year, Huayi Brothers reduced its holdings of the company's shares by 30.77 million shares, accounting for 1.11% of the total share capital, totaling 332 million yuan. After reducing its holdings, Huayi Brothers still holds 139 million shares of the company, accounting for 4.999997% of the total share capital. This also means that Huayi Brothers no longer belongs to the category of "important shareholders holding more than 5% of shares", so it is unknown whether there will still be any reduction in holdings since then.

So far, the reporter's rough statistics found that the spring of 2016 is not over yet, and four important shareholders of Palm Technology, including the top three major shareholders, have reduced their holdings, reducing their holdings of the company's shares by a total of 117 million shares, with a total cash amount of 1.316 billion yuan.

The second shareholder has worked for less than 5 years and resigned to cash out the ban.

It is worth mentioning that among the above-mentioned multiple reductions, the shares reduced by Ye Yingtao and Huayi Brothers were all banned shares. According to statistics, the 23.6293 million restricted shares held by Ye Yingtao were lifted on May 11, 2015, with a market value of 749 million yuan. Two months later, Ye Yingtao resigned on July 23, 2015. Half a year later, she sold the first tranche of banned shares and cashed in 146 million yuan. In other words, Ye Yingtao only worked at Palm Technology for less than 5 years, but took away shares worth 749 million yuan.

On the other hand, the reporter noticed that the above-mentioned wave of sales reductions was mainly concentrated in March this year. As for why this opportunity was chosen, some analysts believe that it was because of the "no reduction" commitment of listed companies in 2015. As we all know, in mid-2015, the stock market experienced significant shocks. At that time, in order to stabilize stock prices, many executives of listed companies stated that they would "voluntarily not reduce their holdings within six months."

In fact, Palm Technology was no exception at that time. On July 10, 2015, Palm Technology issued the "Announcement on Maintaining the Stability of the Company's Stock Price" stating that the company's controlling shareholder and shareholders holding more than 5% shares, as well as directors, supervisors, and senior management The personnel promised not to reduce the company's shares through the secondary market within six months from July 10, 2015.

According to the above commitment time, on January 10 this year, the "no reduction in holdings" commitment expired. The above-mentioned analyst said in an interview with reporters,"February is the Lunar New Year, and the company's 'peak of reduction' is after the New Year and before the disclosure of the annual report." Generally speaking, if a listed company performs poorly and major shareholders reduce their holdings before bad news in the annual report, insider trading may be involved.

However, judging from financial data, Palm Technology performed very well in 2015. During the reporting period, the company achieved a net profit of 470 million yuan attributable to shareholders of listed companies, a year-on-year increase of 42.29%. In addition, in the first quarter of 2016, Palm Technology achieved a net profit of 221 million yuan, a year-on-year increase of 183.07%.

What is puzzling is, why should we reduce our holdings when the performance is so impressive? The reporter interviewed a person from the Securities Department of Zhangqu Technology on this issue, and the other party said that the information disclosed in the announcement shall prevail. Palm Technology announced that Yao Wenbin's reduction in holdings is due to comprehensive considerations, mainly including providing certain financial support for the company's strategic development.

Editor: yvonne