Zhou Wen Xiang yue
Editor Sun Ming
The scallop ran away, died, came back and was finally located by satellite. ...
If there is a list of "magical animals" in the A-share market, with the deep skill of Zhangzidao scallop, it will undoubtedly be easy to win the title of "the most magical and knowledgeable animal".
After all, in less than six years, the accurate card has staged four bizarre "disappearances" in every node that the listed company needs most, freezing to death, starving to death and passing by. Whether in the A-share market or in the real world, it can always be called "magic" for scallops who rely on their own efforts to turn the tide and even use satellite surveys to find their traces.
Zhangzidao, which leads the story of "magic scallop", is naturally worthy of the title of "A-share drama" by investors. It once debuted with the title of "Dazhai on the Sea" and "Hometown of Abalone", climbed to the top of the peak with a market value of 20 billion, told the bizarre story of "magic scallop", and also fell into a bleak bottom. Finally, it ended with chicken feathers and abalone.
The data shows that as of the close of February 8, Zhangzidao (002069. SZ) was only 3.45 yuan/share at that time, with a total market value of 2.45 billion yuan. After repeated tossing, the glory of "China aquatic products first" no longer exists.
Zhangzidao took a good script as soon as he appeared.
According to the data, Zhangzidao Group Co., Ltd. (namely Zhangzidao) is located on an island called Zhangzidao in the depths of the Yellow Sea. 1958, the people's commune formed by four islands, namely Zhangzi Island, Dahao Island, Xiaohao Island and Panyi Village, was named Zhangzi People's Commune, and changed to Xiang in 1983. At the same time, a collectively-owned company, Zhangzidao Fishery Industry and Commerce Joint Company, was established, 1985 was renamed as Dalian Zhangzidao Fishery Corporation, and 1992 was reorganized as Zhangzidao Fishery Group Company.
As a place name, Zhangzidao is the largest island in Zhangzidao Town, Changhai County, Dalian City, Liaoning Province. Changhai County is the only island county in Northeast China, which is rich in fish, shrimp, crab, shellfish and algae resources. Due to the superior geographical environment, according to local records, by the 1970s, Zhangzi People's Commune had created a national record of single-boat fishing and total catch, which was first published in People's Daily and named as "Dazhai on the Sea".
However, since then, Zhangzidao has enjoyed unlimited scenery. Apart from its unique marine resources and geographical location, it is also inseparable from a man named Wu Hougang. Wu, 1964, was born in Dahe Island, and his parents made a living by fishing. 1980, Wu Hougang, who was only 16 years old, was admitted to Zhangzidao Shipyard and became a riveter. He was promoted to accountant after a year in the factory. Since then, he has served as the chief financial officer, chief accountant and deputy director of the finance office of the town fishery corporation, and has always mastered financial power.
Boss Wu's early career path was smooth sailing, but if he wants to become a legend, he still needs a chance to turn the tide or add icing on the cake.
The opportunity will come soon. In 1980s, Zhangzidao introduced scallops from Hokkaido, Japan, but initially adopted floating culture mode, resulting in low yield, polluted seawater and low economic benefits. At that time, Liaoning Fisheries Research Institute began to try a new technology called "bottom sowing culture", that is, scallops and other fry were directly placed on the seabed and allowed to grow for several years before fishing.
Wu Hougang, who works as a financial officer in Zhangzidao Fishing Ground, saw the business opportunities, so he recommended the technology of "bottom sowing and proliferation" to the company, bought a large number of fry at a price of 50 cents each and threw them into the sea. The fishermen are unhappy, angrily calling him a black sheep, and questioning this technology "live without a shell, die without a shell" is tantamount to "throwing money into the sea". Finally, the town government came forward to settle the dispute.
Two years later, the big, fleshy and expensive scallops caught completely locked up the islanders, and Zhangzidao entered the fast lane from then on. 1990, the bottom sowing area of scallop in Zhangzidao broke through 1000 mu for the first time, and 1995 broke through 50,000 mu, and doubled again two years later, reaching 10000 mu.
Wu Hougang's position has also risen. In the 1990s, he successfully transferred from a township enterprise into the system. Soon after, 1996 became the mayor of Zhangzidao and concurrently the general manager of Zhangzidao Fishery Group Company. This year, he was just 32 years old. In the eyes of most islanders, he seems to be "young and promising".
From 65438 to 0998, Zhangzidao Fishery Group Company was restructured into Zhangzidao Fishery Group Co., Ltd., and Zhangzidao Town and its villagers became shareholders of the company. Wu Hougang also served as the chairman of Zhangzidao from the following year. It was not until 200 1 that Zhangzidao Fishery Group was restructured into a joint-stock company according to the policy of separating government from enterprise, and it officially resigned and went to sea.
According to media reports, in order to let Wu Hougang have no worries, the Changhai county government also decided to give him a 5% share reward, and asked Wu Hougang to contribute 5% by himself, so he could borrow interest-free if he had difficulties. In this way, Wu Hougang successfully won the shares of Zhangzidao 10% with the borrowed 5.3 million yuan, becoming the third largest shareholder, realizing the transformation of government and business.
At the same time, Zhangzidao was named "Submarine Bank" and began to sprint the capital market. On September 28th, 2006, Zhangzidao officially landed on Shenzhen Stock Exchange, which not only won the title of "the first aquatic product stock in China", but also jumped to the high level of 1.5 1.23 yuan/share at the beginning of 2008, and once became the "king stock" of Shanghai and Shenzhen stock markets at that time, and the hundredth share of China agriculture.
Zhangzidao's outstanding performance in the capital market has created a billionaire Wu Hougang worth over 500 million. Since 2007, Boss Wu has appeared in Davos Forum almost every year, which is regarded as a symbol of his status.
With the rising status of Wu Hougang, his brothers and relatives followed suit and entered the company to hold important positions. The life of Zhangzidao islanders is richer. There are a series of modern infrastructures such as schools, hospitals and cinemas on the island, and small two-story buildings can be seen everywhere. A set of data shows that in 2000, the total income of Zhangzidao Town reached 679 million yuan, the net income was 2 1 10,000 yuan, and the per capita income exceeded 1 10,000 yuan. In the same year, the per capita income of urban residents in China was only 6,208 yuan, while that of rural residents was 2,229 yuan.
If the story comes to an abrupt end, both Zhangzidao and Wu Hougang will become the representatives of the winners, but Zhangzidao is obviously very "dramatic" and doesn't want to be just the protagonist in an ordinary inspirational story, but to stage an absurd suspense drama about "Where are the scallops?"
In 20 14, Zhangzidao developed marine pasture with an area of over 3 million mu, about 2,000 square kilometers, which was the largest world-class marine pasture in China at that time. However, in the same year of 10, the situation reversed by 180 degrees-Zhangzidao suddenly announced that the company would plant 20 1 12 due to the cold water mass that had not happened in decades.
For a time, the incident of "Zhangzidao scallop running away" shocked the whole A-share market. Investors questioned the authenticity of Zhangzidao cold water mass, why they failed to give early warning in time during regular sampling inspection, whether there was insider trading and whether there was internal corruption, which once became the biggest "black swan incident" in the A-share market that year.
In the face of doubts, Mr. Wu said that he was "wronged"-"Our company can't explain the cold water mass, and everyone doesn't understand it ... The cold water mass is unclear, the bottom broadcast proliferation is unclear, and the ocean pasture is unclear." When he once responded to investors' questions about "believing in ghosts and gods rather than trusting the chairman's mouth" on the interactive platform, he said bitterly: "It's not easy to be trusted.
Strangely, however, the cold water mass mentioned in the announcement of Zhangzidao has never been notified by authoritative organizations such as Dalian Meteorological Bureau in advance, and local farmers have said that they have not encountered it, and they have never heard that farmers in nearby waters have greatly reduced their production due to cold water mass.
Despite many doubts, the investigation results of the CSRC in June 5438+February of that year showed that there was no financial fraud in Zhangzidao; The first run on scallops in Zhangzidao finally ended with Wu Hougang's commitment to voluntarily bear the disaster losses of 654.38 billion yuan to tide over the difficulties with the company, and the collective salary reduction of Zhangzidao executives.
Only half a year later, in June of 20 15, Zhangzidao announced again that the latest sampling results showed that the number of scallops not caught at the end of 20 12, 20 13 and 20 14 exceeded1600,000 mu. The dramatic trend of the story can't help but make many onlookers exclaim: "The lost scallop swam back". However, only two days later, Zhangzidao issued another announcement explaining that the seeds sown at the end of 20 12 in this sampling test and the parts not harvested by 20 14 due to "cold water mass" belong to two different sea areas, not "scallops are back".
The storm in Zhangzidao has temporarily subsided, but under the seemingly calm sea, there is still an undercurrent.
20 16, 16, Zhangzidao was reported by more than 2,000 people, claiming that the reason for the "cold water mass incident" on 20 14 was not a natural disaster, but an early harvest and early broadcast fraud. The whistleblower is a resident of Zhangzidao and a beneficiary of Zhangzidao shares. However, Zhangzidao immediately denied the existence and content of the report letter. Like the mysterious missing scallop, this tip-off letter is full of questions.
The reason why the drama essence is called "drama essence" is often because the story told is too dramatic and unexpected.
In February, 20 18, Zhangzidao announced that scallops were "thinner and thinner" due to decreased precipitation, food shortage and abnormal seawater temperature, and eventually starved to death, resulting in a huge loss of 723 million yuan in 20 17. On April 20 19, Zhangzidao voiced again. Due to the "scallop bottom sowing", the loss in the first quarter was 20140 thousand yuan. Five months later, the bottom-sown scallop "died naturally on a large scale" again in a short time, resulting in a loss of 278 million yuan. The reason given by Zhangzidao is "the comprehensive effect of various factors such as the change of seawater temperature, the excessive scale and density of shellfish culture in the sea area, and the lack of food organisms".
Scallops ran away, came back, starved to death, and died next time because of the wrong water temperature ... However, in just a few years, the comings and goings of scallops have become commonplace in Zhangzidao, and the joke "Where did the scallops go" even made a series of gestures, that is, I don't know if the scallops on the bottom of the sea will "laugh to death" again.
No one knows whether scallops will "laugh to death", but for a long time, Zhangzidao was probably "happy".
According to the regulations of Shenzhen Stock Exchange, the losses of small and medium-sized board will be ST for two consecutive years, the losses for three consecutive years will be suspended, and the losses for four consecutive years will be terminated. It was staged six years after the series Where Are the Scallops? Zhangzidao, which is no longer rich in "financial background", has been "lucky" to avoid the key nodes of suspension or termination of listing. From 20 14 to 20 19, almost all the achievements are based on the changing law of one year's loss and one year's profit. The "accuracy" of the card position has made many netizens exclaim: "The scallops on Zhangzidao are very likely to have a background in the financial industry, have obtained the qualification of certified public accountants, and are very familiar with the auditing of listed companies."
The truth of the matter was not discovered by Beidou satellite until June 2020, and was finally recognized as "financial fraud" by the CSRC.
2065438+February 2008, just over a week after Zhangzidao announced the "second scallop escape" incident, the CSRC decided to initiate an investigation on Zhangzidao. Because of the particularity of scallop stock, the CSRC sent more than 30 inspectors for this purpose, which lasted 17 months of investigation, and even mobilized the newly connected Beidou satellite navigation system, and finally cracked the magical puzzle of "Where did the scallops go?" This a-share market.
2065438+July 2009, the CSRC issued the Notice of Administrative Punishment and Market Prohibition to Zhangzidao, saying that it had found out that Zhangzidao was suspected of financial fraud; On June 24, 2020, the CSRC officially issued the Decision on Administrative Punishment and the Decision on Market Prohibition, and found that Zhangzidao's relevant annual reports and envelopes were suspected of false records, and imposed a "top penalty" of 600,000 yuan on Zhangzidao, a fine of 300,000 yuan on Wu Hougang, the then chairman, and measures of lifelong market prohibition. In September 2020, the CSRC even announced that the securities crime case of Zhangzidao would be handed over to the public security organs for criminal responsibility.
According to the survey results, based on the navigation and positioning information of Beidou, the CSRC entrusted a third-party professional organization to restore the real navigation trajectory of the fishing boat, but found that the fishing area recorded by Zhangzidao was obviously different from the actual operation area of the fishing boat during the period of 20 16 to 20 17.
In 20 16 years, Zhangzidao underreported the area of scallop sea area139,300 mu, and underreported the operating cost by 60.02 million yuan; At the same time, the accounting principle is skillfully used, and the non-operating expenditure is reduced by 7117800 yuan by rebroadcasting in some unplaced sea areas. In this way, Zhangzidao, which suffered losses in 20 14 and 20 15 for two consecutive years, successfully inflated its profits in 20 1.3 1 100 million yuan, accounting for 158% of the total profits disclosed in the same period.
"It is not difficult to borrow again after borrowing and returning." In order to absorb the hidden costs and losses in 20 16, in 20 17, Zhangzidao falsely increased its profits by 279 million yuan, accounting for 39% of the total profits disclosed in the same period.
However, Wu Hougang does not seem to recognize the "financial fraud" determination of the CSRC. In May 2020, Wu Hougang, then the chairman of Zhangzidao, complained to the media: "Why do others suffer disasters and everyone sympathizes? Not only did Zhangzidao not sympathize with the disaster, but also stepped on it? " He also said that the CSRC "has no legal basis for judging our financial fraud based on only two deduction reports".
It is reported that from June, 5438 to February, 2020, Wu Hougang filed a complaint of more than 10,000 words against the CSRC in Beijing No.1 Intermediate People's Court, demanding that the relevant administrative punishment be revoked. The case has been cross-examined for the first time. However, Zhangzidao apparently avoided the prosecution of the former chairman. When asked by the media about relevant issues, he only threw out one sentence: "Wu Hougang has left his post, and his personal litigation behavior belongs to private judicial rights protection activities."
More than 30 years ago, Wu Hougang, reviled as a "black sheep" by Zhangzidao islanders, used the technology of "bottom sowing and proliferation" of scallops to help Zhangzidao prosper. However, 30 years later, Teacher Wu really failed Zhangzidao. At the peak of 20 10, the market value of Zhangzidao once exceeded 20 billion yuan, but after the "Where are the scallops going" incident, only 2 billion yuan remained, shrinking by nearly 90%.
Zhangzidao's latest 2020 annual performance forecast shows that in 2020, Zhangzidao is expected to make a profit of 6.5438+million yuan to 6.5438+05 million yuan, and a net profit loss of 6.5438+million yuan to 65.438+05 billion yuan after deducting non-profits, compared with a net profit loss of 392 million yuan after returning to the mother in the same period last year. The main reasons for turning losses into profits in 2020 are "the increase in income from non-recurring profit and loss projects such as the transfer of some assets related to sea area use rights, the transfer of subsidiaries' equity and government subsidies" and "the increase in operating performance of marine seedling products".
The future of Zhangzidao is still foggy.