HKEx announced that the share price and trading volume of unclear cause unusual movements, shareholder Lin Yuhao not pledge or sell any shares。April 11, Hong Kong-listed Chinese-funded financial holding company intraday straight down, the biggest decline in more than 83% of the time, fell 57.48%。  [Previously reported] April 11, China Financial Holdings 0.HK $ 127 opening, the stock price began to fall close to 10:00, half an hour, the share price decline was more than 80%, the lowest dropping to 0.HK $ 019, the market value of 1 billion yuan was evaporated!  Crash at the same time, the rapid turnover amplification, the Hong Kong stock market as of the close, China Financial Holdings fell 57.48%, close 0.054 Hong Kong dollars, turnover 6.HK $ 2.4 billion, turnover of up to 125.25%。  According to HKEx announced after the close of market intermediaries holding records show, hung (Hong Kong) in the name of the largest equity ratio reached 14.39%。  Trading records show, China's largest financial holding co-brokerage Changjiang Securities large number Paohuo, ranking first in the seller, net sales of 6032 million shares, involving an amount of HK $ 1.92 million, accounting for 4.01%。And Thailand's third-largest securities as a co-brokerage stock, ranking second in the seller, too, a large number of shipments, will sell 6440 shares, involving an amount of HK $ 1.86 million, the total turnover of 3.89%。  It is noteworthy that the two co-broker price per share were 0.0318 and 0.HK $ 0289, that is only shipping after crash。  The reason for the collapse of China Holdings, analysts believe that the main reason for China Holdings plummeted, it may be caused by the share pledge warehouse explosion。  However, according to some media reports, major shareholders Linyu Hao said that as the major shareholder, has never pledged shares, not the use of equity financing, but did not sell China Financial Holdings shares, the company is now operating as usual。For the stock price plummeted, Linyu Hao said he did not know the reason, did not receive shares pledged to report any member of the Board of Directors。  Past and Present: from agriculture to China FHC China Jade could have been one of the main agricultural financial holding company, after the company called "jade from agriculture"。Is the first in the Hong Kong Stock Exchange main board listed vegetable production and marketing enterprises, the main business covers vegetable cultivation, research and development, channel development, processing, trade, logistics and distribution。  Later renamed Fortune International, and then changed its name back from jade Agriculture。July 2015, the company officially changed its name to China Holdings, in addition to the original trade business, wore "financial holding" the title of the company began a variety of financial services, including money lending in Hong Kong, the stock brokerage business, finance。  (Picture from the official website of China Holdings) According to the 2016 annual report disclosed that China Holdings' revenues loans at 7.2-48% of calculating interest, which is similar to "usury" business, in the year 2016 reached the scale of 2.As much as HK $ 5.2 billion, which even up to 2.HK $ 3.7 billion of unsecured loans。  Lending to the road, we have a great relationship with the current Chairman of the China Financial Holdings Lin Yuhao。May 13, 2016 formally to run for the chairmanship of the Board of Lin Yuhao, according to public information, has served as corporate vice president of the Federation of Shenzhen and Shenzhen Entrepreneur Association, Chinese microfinance, credit, and operational experience in the consumer finance particularly rich。  Lin Yuhao has publicly said that China has made Holdings in Hong Kong and the Mainland financial companies ,, small loan companies and other licenses, said the future will be more involved and to initiate, build a fully licensed ecosystem services in the Industry。  China Financial Holdings in the past year in the capital is not low frequency。From April 2015 to April 2016, China Financial Holdings has 5 times to placing of new shares, issue new shares, etc. trying to get money, but there are three times have not been completed。  Dismal performance: nine years of losses despite continuing transformation, but still can not stop the loss and fell, from a performance point of view, China's performance is unsatisfactory financial holding。The past 10 years, the performance of Chinese financial holding only positive earnings performance in 2012。  Report shows that in 2016 China Financial Holdings annual earnings 9329.HK $ 20,000, but remove all kinds of expenses, the company's annual losses reached 4.HK $ 6.6 billion in losses compared with the year 2015, the huge expansion of more than 12 times。  In addition, so far in 2015, China Holdings' share price fluctuation is quite large。By 2015, the company's share price from 0.Hong Kong dollar has risen 068 0.HK $ 84, then began to decline sharply dropped some time ago 0.HK $ 111。  Hai Ali had the foresight to sell ago?  In the April 4, 2016, China Financial Holdings posted an announcement that the company entered into a subscription agreement with respectively two funds Mainland。Zhuhai Tak Gu Fund Management Co. agreed to subscribe for Chinese financial holding up to HK $ 400 million in 540 days of convertible bonds。Former Hai Ali also agreed to five years, to subscribe for China Financial Holdings HK $ 2 billion of convertible bonds。  China Financial Holdings said that if the conversion price of the Convertible Bonds in accordance with 0.HK $ 122 after exercise, Zhuhai German Valley will hold China Holdings 12.9% stake in the former Hai Ali will hold China Holdings 64.51% of the shares。Obviously ago Hai Ali will become the largest shareholder of China Holdings。  For HK $ 2.4 billion of convertible bonds to be issued and acquired, China Financial Holdings pointed to the future business development, provide certainty and flexibility for the next few years using capital。  But HKEx interest in disclosure of information, so far, the former major shareholder of Hai Ali was not on the list of Chinese financial holding appears, is currently the largest shareholder Lin Yuhao, holding 8.6.9 billion shares, its stake to 12.64%; however, before Hai Ali after achieving debt November 29, 2016, obtained 27.0.5 billion shares of China Holdings, holding the proportion reached 39.25%, after the reduction is likely to have, but information about the shareholders, and in the end of March 2017 disclosed in the annual report, did not elaborate。