Xu Jiahui yesterday lifted six bans on block trades to cash out 24 million yuan

Xu Jiahui ushered in the lifting of the ban on the first restricted shares yesterday, and the closing share price rose slightly by 0.94%. As one of the banned stockholders, the well-known writer Yu Qiuyu (pictured above) is expected to arbitrage more than RMB 60 million in “real money and silver”.

On March 5th, as Xu Jiahui (002561) 214 million shares of restricted shares were officially lifted, Yu Qiyu, who is expected to use the equity investment to rush to the throne of “the richest man of Chinese writer”, has become the focus of market attention once again. According to the information released by the Shenzhen Stock Exchange, on March 5, Xujiahui had six major transactions and the sellers all came from Haitong Securities' Danyang Road Sales Department. For a time, the market speculated about this. However, Yu Qiuyu's secretary Jin Kelin said to reporters yesterday, "I don't know."

Stock price performance: closed up slightly after lifting the ban

Yesterday, Xujiahui went up slightly in the secondary market after opening slightly. The gain was close to 1%, and Xujiahui was still in consolidation. At 2:21 p.m., Xujiahui saw a sharp pull-up in the trading session and began a correction when it briefly touched the high of 12.89 yuan per share. As of yesterday's close, Xujiahui rose 0.94% to close at 12.82 yuan per share.

Yesterday's Shenzhen Stock Exchange data showed that there were six major transactions in Xujiahui yesterday. The sellers all came from the sales department of Danyang Road, Danyang, Haitong Securities, and sold 1.97 million shares at a price of RMB 12.26 per share, but the amount of each order was relatively small. Cash is 24,125,200 yuan.

The staff of Xujiahui’s Office of the Office of the Secretary of the Board of Directors told the reporter that since Yu Qiuyu is an individual investor, there is no restriction on cash withdrawal as long as it does not violate the relevant regulations of the Shenzhen Stock Exchange.

The Xujiahui prospectus shows that Yu Qiuyu’s investment in Xujiahui began in December 2001. At that time, the company’s predecessor, “Shanghai Sixa Industrial Co., Ltd.” decided to dissolve the employee’s shareholding and planned to transfer 24.5% of the equity, and Yu Qiuyu’s acquisition of 2.412 million yuan. Six hundred and one-half percent of Shanghai's shares. After a series of changes, Yu Qiuyu holds 5,186,400 shares in Xujiahui.

Industry perspective: Yu Qiuyu may partially cash out

Insiders said that although it is difficult to determine whether Yu Qiuyu cashed out from public information, because his investment has appreciated a lot of times, combined with the current trend of the A-share market and the development prospects of Xujiahui, the possibility of Yu Qiuyu partially cashing out is not ruled out.

However, there are also views that the current bull market has just begun, Xu Jiahui's stock price may still have room for growth, therefore, investors are also very likely to wait and see.

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