Chapter 300: Junshi No. 1's First Harvest
In the first half of March, ChiNext constituent stocks were extremely active, while the Shanghai Composite Index had been in a state of adjustment; as the end of the two sessions approached, there was a trend of resonance between the ChiNext and the Shanghai Composite Index until Friday.
The trend of resonance between the Shanghai and Shenzhen stock markets has been verified since late March.
On March 16, the Shanghai and Shenzhen stock markets ended trading with a long positive trend amid fluctuations. Although the heavyweight stocks were still relatively weak overall, with half a month of adjustments, there was a great demand for Shanghai stocks to make up for the losses.
Small-cap stocks and theme stocks in the Shanghai Stock Exchange, such as the Shanghai Free Trade Zone, rose wildly, driving the index upward amid fluctuations. The Shanghai Composite Index successfully broke through the previous high of 3406 points and closed at 3449.30 points.
The ChiNext Index rose . The index hit a new high of 2142.67 points throughout the day, up 3.56%, and the trading volume reached 96.32 billion yuan.
Since the stock market crash in 2015 until 2022 before Gu Junhao's rebirth; 3400 points can be regarded as a very high position. After the stock market crash, the Shanghai Composite Index hovered around 3000 points for a long time.
Today, 3400 points is only the low point of the second start of the Shanghai Composite Index since the rebound at the end of last year. In the subsequent trading, the Shanghai Composite Index has a high point every day, just like the first round.
On Tuesday, the heavyweight index, which had been silent for many days, was unwilling to lag behind and led the index to successfully break through 3,500 points to 3,502.85 points, rising another 1.55% during the day. Today, the trading volume of the Shanghai Composite Index also returned to more than 600 billion yuan.
On Wednesday this week, the Shanghai Composite Index was in the lead. After launching a 200 billion yuan 7-day reverse repurchase operation, the central bank once again released liquidity to the market this morning, with an incremental renewal of MLF of nearly 500 billion yuan.
The A-share market continues to enjoy the feast of liquidity. With money, people can stand up straighter and things will be easier to handle. This is especially true for stock market transactions.
Throughout the day, all Shenwan first-level industries were in the green, and all 110 concept sectors in the two markets rose across the board. The Shanghai Composite Index rose again by 2.12%, and the Shanghai Component Index rose by 2.67%. The ChiNext Index, which was adjusted yesterday due to the weight market, also exploded across the board today.
The ChiNext Index also surged by 2.13% amid the full-scale market outbreak. Affected by the external market on Thursday, both markets continued to open higher across the board, and then entered into a full-day volatility, both experiencing a small adjustment.
However, at the end of the day, the three major stock indexes closed higher again, continuing their outstanding performance. The construction and decoration sector performed well today, with Chinese-character stocks such as Zhongguo Jiaojian rising by more than 5%.
Stocks with Chinese characters in their names have been adjusting continuously for the past two months. With the gradual stabilization of CNR and CSR, they have re-entered the upward channel. After today's sharp rise, the share price of Zhongguo Communications Construction Co., Ltd. has returned to above 15 yuan, closing at 15.11 yuan.
Although Zhongguo First Heavy Industries' recent performance has been relatively weak, it still managed to regain its footing above the 60-day moving average with a 2.24% increase today, and its share price closed at 5.48 yuan.
Friday, March 20th.
The Shanghai and Shenzhen stock markets, which experienced adjustments yesterday, continued their high-speed advance today. After testing the 3,600 point level yesterday, the Shanghai Composite Index has again advanced steadily upward, rising by 0.98% today.
The Shanghai Composite Index, which was in the green for five trading days, ended the first week of trading in late March with a weekly increase of 7.25%. The daily line level even formed an eight-yang line pattern, which was very similar to the trend on the first day of the first rebound.
The ChiNext Index surged 3.61% today, closing at 2293.65 points. It rose 6.99% for the week and achieved seven consecutive weekly gains. The last time the ChiNext Index had seven consecutive weekly gains was in early 2014.
After seven consecutive positive days, the ChiNext Index had already reached its peak. After reaching a high of 1571.40 points, it adjusted for more than half a year before breaking through again.
Gu Junhao knew that this round of seven positive lines on the weekly chart was very different from the market in early 2014. It could be said that the ChiNext Index had entered a period of great acceleration since the first Monday of this week.
In less than three months, the index almost doubled, and the market accelerated as a result. The performance of small and medium-sized start-up stocks was extremely crazy.
For example, Yinzhijie's share price rose by 8.07% on Friday, and has officially broken through the 100 yuan mark to 102.18 yuan. The accelerated rise in the market has made the market value of Yinzhijie's holdings in Junshi No. 1 exceed 120 million yuan.
This also made Xu Jianqing, Wang Ruoyu and others dumbfounded. If calculated based on its lowest price of 13.30 yuan after the ex-rights, Yinzhijie is less than 30% away from its price of 133 yuan, which represents ten times the return.
Obviously, for Yin Zhijie, which broke through the new high today with a long positive line, the stock price trend is naturally far from over. A 30% increase or a 10-fold return is not inconceivable.
However, in Gu Junhao's opinion, Yinzhijie has risen so much that it is getting closer to a 10-fold return, and it has already reached a position close to clearing out the entire inventory. After a 10-fold return, the stock price may rise, but there is no need to pursue this return.
Even though Junshi No. 1 is heavily held by Dongfang Fortune, it is still suspended. However, the performance of the other three holdings are very good this week. The overall scale has exceeded 437 million yuan, and the net value ratio is as high as 10.9439.
As for Tong Huashun in personal accounts, since Tong Huashun officially announced the share transfer plan on March 18, the stock price has been rising all the way after its general performance in the previous two days. On Friday this week, Tong Huashun also broke through the 100 yuan price mark, and the stock price closed at 100.62 yuan.
This year there is another 10-for-10 bonus and share transfer plan. If nothing unexpected happens, before the bonus and share transfer, Tong Huashun and Yin Zhijie will start a new round of pull-up efforts.
If the ChiNext Index can continue to lead Tong Huashun and Yin Zhijie to accelerate after entering the acceleration period, Gu Junhao would not mind reducing his holdings in advance, even if there are still nearly two months before the stock market crash.
With this decision, Gu Junhao said to Wang Ruoyu at the after-market meeting after the market closed on Friday: "Next week, focus on Yin Zhijie."
As for Tong Huashun, one still has to wait until Yin Zhijie clears his inventory before taking any action. After all, Gu Junhao is much more familiar with Tong Huashun than Yin Zhijie, and he can sell it even after the stock market crash without causing much loss.
In fact, there is nothing much to say about the after-hours meeting. The Shanghai and Shenzhen stock markets have entered a general upward trend. As for individual stocks, as long as the technical indicators are relatively reasonable, they will be favored by funds that have missed out on the opportunity.
The money-making effect of the two markets has been very significant this week, and popular GEM stocks like Yinzhijie that have broken new highs have attracted a lot of financial attention, just like Zhongqingbao in 2013 and Wangsu Technology in 2014.
Since the rebound of the ChiNext in 2013, there have been continuous ten-fold bull stocks among the ChiNext constituent stocks. In addition to the fact that small and medium-sized growth stocks themselves have greater flexibility for speculation, it is also related to the economic environment.
Even after the black swan event in 2020, there have been many 10x bull stocks in the ChiNext, which fully demonstrates the scarcity of growth stocks. However, all this will change after the registration system is implemented.
The formal implementation of the registration system, including the economic downturn, also means that stock market wealth creation has officially entered a new stage.
Before this, although retail investors also suffered mostly losses in A-shares, it is understandable that there were still many people who took advantage of the stock market's bonus period and achieved financial freedom. The same was true for Gu Junhao in his past and present life.
However, while reaping the benefits, Gu Junhao was also clearly aware that a series of factors brought about by the economic downturn and the large number of new stocks listed as a result of the comprehensive registration system, most of which were junk stocks, made it more difficult for retail investors to make money.
The probability of becoming rich overnight is already very low; however, if you work hard and have clear awareness, there are still many opportunities to make some money in stock trading.
For ordinary people, although stock investment has great risks, it is undeniable that compared with starting a business, it is already the best investment channel. As long as you control your losses, it can still be a good side job.
The week-long strong performance of the Shanghai and Shenzhen stock markets continued until March 23. The two markets continued to open higher and close higher, with blue-chip stocks and growth stocks soaring together, and the passion for going long is continuing to heat up.
The same is true for Yinzhijie. The stock price of Yinzhijie broke through the previous high and opened higher on Monday. Thereafter, the stock price opened high and continued to rise throughout the day. In the late trading, it even hit the daily limit. Finally, it ended today's trading with a huge increase of 8.63% and the stock price closed at 111 yuan.
Tong Huashun's performance was even stronger. It opened sharply higher at 110 yuan. After only seven minutes of trading in the morning, the stock price hit the upper limit and never opened again for the whole day.
Throughout the day, the Shanghai and Shenzhen stock markets performed extremely strongly. The Shanghai Composite Index rose by 1.95%, marking nine consecutive positive days and a seven-year high. The ChiNext Index soared by 3.61%, continuing to accelerate upward.
Early this morning, March 24, Tuesday, Gu Junhao appeared in the trading room.
It is not only because Yin Zhijie needs attention so that he can reduce his holdings at any time, but more importantly, in Gu Junhao's view, today is a memorable day for A-shares.
Today, as the Shanghai Composite Index may hit 3,700 points, among the newly listed stocks, there is one stock that has left a legend in the A-share market, and that is Baofeng Technology.
Baofeng Technology, which was listed today, had an issue price of 7.14 yuan, and one winning lot would only cost 3,570 yuan. At that time, no matter whether the shareholders won the lot or not, no one knew that this stock would have a mythical performance in the subsequent trading.
As the name suggests, Baofeng Technology, which integrates popular themes such as secondary new stocks, Chinese stocks, Internet + and virtual reality, has attracted constant attention since the new listing stage. Since the official listing day, which is today, it has hit 28 consecutive daily limit ups.
Afterwards, the stock price took a short break and then hit five daily limits in a row, with the highest price reaching 327 yuan. At the peak, the profit of one contract was as high as 160,000 yuan, which made countless winners celebrate.
The stock price rose like a storm, and although it fell from its peak with the stock market crash in June, just when people thought the myth was over, the company put forward a mid-year dividend plan of 10 for 12.
To see how popular the concept of high bonus and share transfer was from 2013 to 2015, just look at the performance of Yinzhijie, Tonghuashun and Dongfang Wealth, which are held by Gu Junhao. It is enough to know that with the support of the high bonus and share transfer concept, Baofeng Technology experienced another round of surge in the second half of the year, and its stock price returned to the 100-yuan stock industry at the end of October.
At the end of the year, with a return of nearly 20 times and 55 daily limit increases throughout the year, Baofeng Technology has undoubtedly become the king of bull stocks in 2015.
The stock price has experienced ups and downs. 2015 can be said to be the most glorious year for Baofeng Technology, but it plummeted afterwards. By the time it was delisted at the end of 2018, its stock price was only 0.28 yuan.
In this round of surging market, except for a very small number of investors who sold their new shares and stopped participating, not many ordinary investors made money from Baofeng Technology.
Even the investors who made huge profits in the IPO stage lost all their money in the subsequent rebound. The mess left behind after delisting is accompanied by painful memories for countless investors.
I watched him build a tall building, and I watched it collapse.
Gu Junhao was naturally very impressed by the star stock of 2015. However, in his past and present life, Gu Junhao had never bought Baofeng Technology. He had participated in new listings in his previous life, but did not win the lottery.
The wealth at this time period of this life has far exceeded that of his previous life, so winning one or two lots was not a big surprise for Gu Junhao.
After the official trading started, as expected, Baofeng Technology hit the daily limit with a 44% increase; at the same time, the communication sector's opening performance was also very poor as a large amount of funds went to Baofeng Technology to hit the daily limit.
Affected by this, Yinzhijie opened low at 108 yuan in the morning, while the Shanghai and Shenzhen stock markets continued to open high. After the opening, led by sectors such as steel, the Shanghai Composite Index started to rush towards 3,700 points.
Within 15 minutes of trading in the morning, Yinzhijie's stock price continued to test the five-day line, falling to a low of 106 yuan ; subsequently, Yinzhijie, which had completed the adjustment, was freed from the influence of the sector and its stock price began to rise.
By 10 o'clock, Yinzhijie's stock price was 114.74 yuan, up 3.37%, and the trend gradually improved.
At 10:40, the Shanghai Composite Index broke through 3,700 points and reached a high of 3,715.87 points before starting to plunge wildly. At one point the index fell by more than 50 points.
Affected by this, the ChiNext Index plunged nearly 100 points at one point, with the lowest index at 2254.24 points, a drop of 1.72%. Yinzhijie also fell from its highest price of 118 yuan to 108.33 yuan, a drop of nearly 9%.
Xu Jianqing and the other two, who had experienced the drastic fluctuations in the first round of rebound last year, did not scream and shout as they did before. Although all sectors fell in this round of diving, the overall performance did not reach the level of panic.
By the midday closing, with the entry of bargain-hunting funds, both the Shanghai and Shenzhen stock markets rebounded to varying degrees. Yinzhijie's stock price rose from around 108 yuan to 114 yuan within 10 minutes, with an increase of 2.61%.
In the afternoon, the index and individual stocks rebounded together, and Yinzhijie's stock price went up all the way. Just like yesterday, the stock price once hit the upper limit price, but it still failed to maintain the upper limit position at the close of the market, closing at 116.10 yuan, up 4.59%.
Tong Huashun accelerated its upward trend today and hit the daily limit again in less than three minutes of trading in the morning. However, with the plunge in the two markets, Tong Huashun also opened the daily limit, and the stock price fell to a minimum of around 4.35%.
Subsequently, with the rebound of the stock index, Tonghuashun once again hit the daily limit and did not open the limit again in the afternoon; throughout the day, Tonghuashun was priced at 121.75 yuan, with a turnover of more than 1.27 billion yuan.
The plunge in the morning did not change the upward trend of the ChiNext Index, which rose 2.80% throughout the day. After experiencing a big plunge, the Shanghai Composite Index also rebounded to 3691.41 points in the afternoon, up 0.10% for the day.
On Wednesday, Yinzhijie continued to open low in the early trading, at 114.50 yuan. Just like yesterday, Yinzhijie did not deviate too far from the five-day line. After a slight decline in the early trading, it quickly rose.
By 10 o'clock, within half an hour, Yinzhijie rose by more than 13%, and the stock price was 127.71 yuan, a 10% increase on the day. After the daily limit, Yinzhijie's closing board rose rapidly. Half an hour later, the daily limit was still more than enough, and the closing board trend was very strong.
At the same time, Tonghuashun once again ushered in a limit-up after a big opening today. The stock price of Tonghuashun, which has been on the limit for three consecutive days, has reached 133.93 yuan. Since the beginning of this year, the lowest price of Tonghuashun has been 42.22 yuan. In less than three months, the stock price has increased by more than three times, which is stronger than last year.
"It goes without saying that the rapid rise of Yinzhijie today is the work of hot money. It looks like we can start reducing our positions tomorrow." Looking at Yinzhijie's rapid rise and closing price, Gu Junhao said with a smile.
The price is less than 5% away from the target price of ten times the return. As the stock price rises, Yinzhijie's trading volume has also begun to gradually increase, making it more convenient for Gu Junhao to ship the goods.
Since the last increase in positions, the 12,000 lots of Yinzhijie in Junshi No. 1 position are approaching the time for harvest, which can be regarded as the first final profit of Junshi Capital.
In the evening, Yinzhijie's announcement on replacing the continuous supervision sponsor representative for the additional issuance project further strengthened Gu Junhao's decision to liquidate his shares. Judging from the previous behavior of Xibu Securities, Dongfang Wealth and Yinzhijie, this additional issuance is likely to be suspended.
It is unknown when the stock will resume trading after this suspension. Dongfang Wealth has been suspended for almost a month and there is no sign of resuming trading. If the same is true for Yinzhijie, then after it resumes trading, it may encounter a stock market crash.
On March 26, Yinzhijie opened high at 129.84 yuan, up 1.67%. After the opening, the stock price fluctuated for only two minutes before rising to 131.99 yuan, a daily increase of 3.35%.
"Don't think too much today. Just focus on clearing out your holdings of Yin Zhijie. Try to reduce your holdings as much as possible today. It would be best if you can clear out your holdings." Gu Junhao stood behind Wang Ruoyu and said in a deep voice.
Wang Ruoyu was also a little excited. This was the first time that the boss had reduced his holdings on a large scale since he established his position last year, and he had clearly put forward the requirement to clear all the positions. Judging from the current stock price, the market value of Yinzhijie is close to 160 million yuan, and it is not easy to clear all the positions.
At 9:50, Yinzhijie's share price was 132.50 yuan, only 0.50 yuan away from the price of 133 yuan. Yinzhijie's share price began to rise, and affected by yesterday's plunge, the Shanghai and Shenzhen stock markets began to diverge today.
Affected by the sharp drop in overseas markets last night, the Shanghai and Shenzhen stock markets opened low today and maintained a volatile trend in the morning. The Shanghai Composite Index only turned slightly positive in the morning before returning to the green again. The ChiNext Index was relatively strong in the morning.
Influenced by the sharp rise of the ChiNext Index breaking through 2,400 points, Yinzhijie's stock price rose sharply to 137.89 yuan at 10 o'clock in the morning, an increase of 7.97%, and still has a trend of rising by the daily limit.
However, Gu Junhao no longer cares about these things. It is unknown how high the stock price will rise. The most important thing is to sell it when it reaches his expectations. Wang Ruoyu is still selling while the stock price is rising.
At 10:12, a fund of more than 36 million yuan pushed up the share price of Yinzhijie to 140.48 yuan, a 10% increase on the day. Subsequently, more than 300 million yuan of orders appeared on the daily limit.
Even though he was constantly selling, Yinzhijie's stock price remained so strong that Wang Ruoyu's hand paused for dozens of seconds before placing an order, and he was stunned for a moment.
"What are you waiting for? Sell it. This is a rare opportunity." Gu Junhao 's voice rang in Wang Ruoyu's ears.
"Oh, okay." Wang Ruoyu came back to his senses and continued selling.
With nearly 300 million yuan in orders blocked, the orders on the Yinzhijie board were also increasing little by little. Wang Ruoyu was also constantly selling Yinzhijie. In order to avoid affecting the daily limit price, Wang Ruoyu did not take the approach of placing large orders like Xu Jianqing, but mainly sold single orders of about a thousand hands.
However, with such a large outflow, it is impossible not to be noticed by the blocking funds even if the order is split.
At 10:38, with Wang Ruoyu's sell order of 1,400 lots, all the funds for Yinzhijie's stock price to reach its daily limit were gone, and the stock price fell back to 139 yuan. At this time, Wang Ruoyu still held a position of 5,000 lots.
"Don't think too much, just sell as much as you can, and speed up." Gu Junhao instructed Wang Ruoyu while staring at the trends of the two market indices on the big screen. As for lowering the stock price, Gu Junhao no longer cared about that at the moment.
In fact, Wang Ruoyu was a bit conservative just now. If Xu Jianqing was the one who operated it, he would probably have directly sold the order when he saw that there was enough funds for the closing order .
However, there is no way around it. The two people have different ways of operating. Wang Ruoyu is somewhat more conservative than Xu Jianqing, and Gu Junhao does not intend to correct it. Being conservative has its advantages.
Wang Ruoyu began to sell quickly under Gu Junhao's request. This also caused the stock price of Yinzhijie to fall all the way. In the end, Yinzhijie was smashed from the upper limit price to 126.22 yuan, closing down 1.17% for the whole day.
At the end of the day, Yinzhijie's total transaction volume was close to 1 billion yuan, with a turnover rate of over 10%.
The final transaction price of 12,000 lots of Junshi No. 1 was fixed at around 139 yuan, and the funds recovered were as high as 166 million yuan. Today, Wang Ruoyu's market-smashing volume accounted for nearly 17% of Yinzhijie's total transactions.
It can be said that today’s sharp drop in Yinzhijie’s stock price was entirely caused by Gu Junhao.
