Fujian'S Former Richest Billion A Shares "Territory": Wen Brigade, Photovoltaic Leading Into "New Favorite"

In 2019, when he finally boarded the A joint stock white horse share chairman of Yunnan Baiyao (000538.SZ), Fujian's former richest man and Chen Fashu, chairman of Xinhua capital industrial group, were in high spirits.

The industry leader from the grocery store is a frequent visitor to the rich list. The 2019 Forbes China 400 richest list shows that Chen's wealth is worth 11 billion 380 million yuan. Although his property has shrunk a few years ago, his investment in recent years has made Chen's tree promising "new shoots of old trees".

In April 23rd, the two leading companies in A shares, 601888.SH and 601012.SH, announced a quarterly report. As a personal investor, Chen Fashu ranks among the ten largest shareholders of the two listed companies. In twenty-first Century, the economic news reporter estimated that the market value of the two companies' reference value reached over 4 billion 500 million yuan.

According to twenty-first Century economic report reporter statistics, as at present, Chen FA Shu directly and indirectly holds 7 A share company shares. In terms of investment time, Longji shares and China National Tourism are Chen Fashu's "new favorites".

Especially in the case of China International Travel Service, in the first quarter, the loss of the leading enterprises in the domestic cultural tourism industry exceeded 100 million yuan.

Create tens of billions of A shares Capital Territory

2008 is an important year in Chen's personal investment history.

This year, two important companies in his life, 601899.SH and 002264.SZ, were listed on the market for a while. By the end of 2009, the Xinhua capital industrial group controlled by Chen FA Shu owned Zijin Mining and Xinhua capital with a market value of 16 billion 388 million yuan and 1 billion 645 million yuan respectively.

Zijin Mining is the biggest source of wealth for Chen FA Shu, and he gradually found cash in the following years. By the end of 2019, Chen had only invested in Zijin Mining through a fund "Xinhua Du Guoxin Securities -17 Xin Du EB guarantee and trust property account", and its market capitalization also dropped to 1 billion 191 million yuan.

In fact, as a shrewd investor, Chen is keen on A share financial investments. In the fourth quarter of 2013, 002216.SZ became the third A share Holding Company of the Xinhua capital industrial group except Zijin Mining and Xinhua capital, but the stock market value was only 77 million yuan at the end of the term.

In the fourth quarter of 2014, Xinhua Industrial Group launched a small investment climax. During the reporting period, the company, following the addition of three full foods, has three new companies, namely the Oriental Pearl (600637.SH), Shanghai Jahwa (600315.SH), and Long Jing environmental protection (600388.SH), with a cumulative stock market value of more than 800 million yuan.

The heaviest investment came in the second quarter of 2015. During the reporting period, Chen FA Shu and its controlled Xinhua capital industrial group have become one of the ten largest shareholders of Baiyao in Yunnan, aiming to create another A share trump card.

When the new Yunnan Baiyao was newly held, the shareholding ratio of Chen FA Shu and Xinhua capital industrial group amounted to 3.34%, and the stock market value was only 3 billion yuan. But in the four years since then, Chen FA Shu has increased its holdings all the way. As of April 2020, Chen FA Shu and Xinhua capital industrial group jointly hold 25.07% of Yunnan Baiyao, almost flat with Yunnan SASAC.

The market value of Yunnan Baiyao shares held by Chen FA Shu and Xinhua Industrial Group reached 28 billion yuan. Chen Fashu became the co chairman of Yunnan Baiyao in August 2019.

According to the twenty-first Century economic news reporter statistics, as of the end of the first quarter of this year, Chen FA Shu directly and indirectly holds 7 A share stocks: Zijin mining, Xinhua capital, Yunnan Baiyao, Longji shares, China International Travel Service, long day new material (688199.SH), 300667.SH, total shareholding value exceeds 34 billion yuan.

In the third quarter of 2018 and the first quarter of this year, Chen FA Shu, as an individual investor, has attracted the attention of new Longji shares and China International Travel Service.

"Copy the bottom" CITS?

In the third quarter of 2018, Chen Fashu's name appeared in the list of the ten largest shareholders announced by Longji shares.

Shareholding data show that Chen's new holdings have 49 million 372 thousand and 800 shares of Longji shares, accounting for 1.77% of the total share capital, becoming the ninth largest shareholder of the leading photovoltaic company. According to the calculation, Chen's stock market value was 701 million yuan.

China's photovoltaic industry suffered a huge earthquake in 2018. After the "5. 31 photovoltaic policy" was released, the domestic PV market demand declined rapidly, and the profitability of photovoltaic enterprises was greatly affected. This year, Longji shares suffered the first net profit decline since its listing.

According to the financial report, the company's net profit attributable to shareholders of listed companies reached 2 billion 558 million yuan in 2018, down 28.24% from the same period last year. Among them, the negative impact of the "5. 31 photovoltaic policy" is reflected in the third quarter. In the first quarter, Longji shares achieved a net profit of only 384 million yuan attributable to shareholders of listed companies, down 61.76% from a year ago.

The third quarter of 2018 is the "darkest moment" of Longji shares in recent years, but Chen bought the company's shares at that time, but made an accurate "copy the bottom".

In 2019, under the slow recovery of the domestic PV market, photovoltaic enterprises seized the hot opportunities in overseas markets and the business situation recovered rapidly. Longji shares also increased shipments in overseas markets, with a record high. The stock price of Longji shares soared, with a year-round increase of 76%, and its total market value exceeded 100 billion.

In 2019, Chen FA Shu added all the way. By the end of the year, its shareholding ratio increased to 3.44%, becoming the seventh largest shareholder of Longji stock. In the first quarter of this year, Chen FA Shu again increased its shareholding ratio to 3.82%, and its total market capitalization reached 3 billion 584 million yuan at the end of the year.

In the first quarter of this year, affected by the new crown pneumonia epidemic, the domestic PV enterprises are facing different levels of operating pressure. However, Longji shares, which have been raised by Chen FA Shu, have handed over a performance answer to the trend of growth.

According to a quarterly report, the net profit of the company in the first three months of this year and its attributable to shareholders of listed companies were 8 billion 599 million yuan and 1 billion 864 million yuan, respectively, up 50.60% and 204.92% respectively over the same period.

"From the current situation, Longji shares (the second quarter) has no significant impact, the first half of the order is more saturated, the second half of the year there are some locking orders, Longji shares 2020 annual shipment expectations are unchanged." Wang Yingge, assistant director of Longji Leye, told the twenty-first Century business news reporter that as of now, based on Longji shares vertical integration industrial chain, the global and China's multi-point production layout, the company's production and production capacity are less affected by the epidemic. The follow-up capacity expansion plan is still advancing according to the plan, and it is expected that the production capacity will be steadily promoted in the future to meet the global high efficiency PV production. Product demand.

In 2018, the new Longji shares made Chen Fashu's wealth explode. In the first quarter of this year, Chen FA Shu became the seventh largest shareholder of CITS.

History is always strikingly similar. The first loss of CITS in China in the first quarter of this year is the first time that Chen's admission will become another "copy the bottom".

According to the shareholding data, Chen FA Shu held 14 million 468 thousand and 100 shares of China International Travel Service at the end of the first quarter of 2020, accounting for 0.74% of the total share capital and 972 million yuan at the end of the year.

Affected by the outbreak of the new crown pneumonia, the domestic airport passenger traffic has dropped sharply since the end of 1 this year, and the airport tax-free business has been hit. Subsequently, the overseas epidemic continued to spread, affecting the entry and exit tourism, and further combating the tax exemption industry. In addition, CF in Hainan part of the duty-free shops suspended business, passenger source fell sharply compared to the same period last year. According to the financial report, the company achieved operating income of 7 billion 636 million yuan in the first three months of this year, down 44.23% from the same period last year, and lost 120 million yuan, down 105.21% from the same period last year.

However, a tourism analyst told the twenty-first Century business news reporter that the tax exempt industry is ushering in a new round of development opportunities under the policy intensive policy.

In March 13th, the 23 departments of the national development and Reform Commission jointly issued the opinions on promoting consumption expansion, upgrading quality and speeding up the formation of a strong domestic market, increasing support for the development of the tax exempt industry, and vigorously improving the domestic market supply, improving the supply of imported goods, and further improving the tax exemption policy.

In March 22nd, the Hainan provincial government promulgated the thirty plan for revitalizing the tourism industry (2020 to 2021), which is the revitalization plan for the tourism industry in Hainan province. It points out that it will expand the duty-free shopping consumption quota in Islands, increase the varieties of tax-free goods, simplify the tax-free shopping procedures, and promote promotional activities such as the Preferential Month (season).

It is worth mentioning that Chen's concern for the travel industry is not the first. Twenty-first Century economic news reporter found that Xinhua capital industrial group is still a major shareholder of Fujian Wuyishan tourism development Limited by Share Ltd.

Ownership structure shows that the Xinhua capital industrial group holds 35% of Fujian Wuyishan tourism development Limited by Share Ltd, which is the second largest shareholder of the latter.