Chapter 341: The Confusing Battle
Throughout the weekend, the financial market was discussing Vanke, whose largest shareholder had changed hands again. The major stock forums were full of discussion and Vanke's stock trading area was filled with onlookers.
Including the increase on the 30th of last month, Vanke has surged 33.10% this week. The increase of 50,000 lots and the increase have made the market value of Junshi No. 2 Vanke A's holdings exceed 1 billion yuan.
In the first four trading days of December, blue-chip stocks performed well. Even though Junshi No. 2's positions did not change much this week, its overall size reached 6.244 billion yuan and its net value reached 4.4694.
Although it has only been four trading days, the overall scale of Junshi No. 2 has increased by nearly 240 million yuan, close to a 4% increase, which is in line with investors' expectations for Gu Junhao.
The sharp rise in Vanke's stock price has solved the mystery of why the net value of Junshi No. 2 Fund has hardly changed since its fundraising, and indirectly responded to the remarks of some peers that Gu Junhao has begun to flatline.
Although Junshi No. 2 still has 4.175 billion yuan in cash on its books, it has not added significant holdings; on the contrary, Junshi's self-operated Tianqi Liye has been reducing its holdings.
In the last three trading days of this week, Tianqi Liye indeed broke the 20-day line, and the stock price fell to a low of 130.13 yuan before rebounding; as of Friday this week, Tianqi Liye closed at 146.80 yuan and re-stood on the five-day line.
During the rebound, Tianqi Liye's amplitude was as high as more than 7% every trading day, and there were opportunities to rise higher every day. On the 4th, the stock price even reached a high of over 152 yuan. It was a great pleasure to sell a little every trading day when the stock price rose higher.
In three trading days, Gu Junhao sold another 6,700 shares, and the average transaction price was similar to that of the No. 1 sale. The total funds recovered from the sale of 13,000 shares exceeded 190 million yuan. Currently, there are 17,000 shares in the account. As long as the institutions dare to pull, Gu Junhao will dare to sell.
As for Baoneng’s fourth stake acquisition, according to relevant regulations, it will not be able to buy stocks in the secondary market for a long time. The next period of time is left for Vanke’s management to fight back.
On Monday, December 7, Baoneng, which had already completed the bidding, entered a silent period and could not be bought; on the same day, Vanke A fell 5.06% and its share price was 18.02 yuan; on the 8th, Vanke fell again by 1.39%, and its share price had fallen below the five-day line to 17.77 yuan.
After two consecutive trading days of decline, the transaction volume of No. 8 Vanke has shrunk to 2.7 billion yuan. It seems that the original shareholder who was deprived of the position of the largest shareholder has no reaction, which really fascinates the market.
You should know that when Vanke lost its position as the largest shareholder for the first time, it quickly fought back by increasing its holdings in the secondary market. However, judging from the trend of Vanke in the past two days, it is obvious that the defending party has no reaction at present.
Today, December 9, Wednesday, six new stocks were listed. This is the first batch of new stocks to be listed after the restart of IPOs since the stock market crash in June. The hot market for new stocks in recent years has attracted great attention to the six new stocks.
Today, the two markets continued their weak and volatile trend, with the ChiNext continuing to remain sluggish, while the Shanghai Composite Index performed relatively steadily due to the support of heavyweights.
Affected by the rising quotations of lithium carbonate from some manufacturers, the lithium battery concept sector performed well today. Tianqi Liye, which had five consecutive positive days after the limit down, opened higher and closed higher today, with the trading volume greatly increased.
After falling for two consecutive trading days, Vanke A opened at 17.95 yuan today, up more than 1%, completely recovering yesterday's losses. During the call auction, Vanke traded more than 24,000 lots, and the scramble for shares was very obvious.
At 9:30, as soon as the transaction started, more than 120 million yuan of funds rushed to buy shares on the Vanke trading board. Seeing this, Gu Junhao smiled and said, "It seems that there is some reaction, but I don't know which side it is."
Currently, Vanke's stock price has entered a confusing stage. It is still unknown and difficult to judge which party is secretly absorbing funds, but it is definitely not Baoneng. So far, the direction of public opinion is actually quite unfavorable to Baoneng.
"The battle for equity is becoming more and more intense. I don't know whether Baoneng can take over Vanke as it wishes." Cao Wenxun said with a smile.
Mr. Gu gave him Wanke to trade, which brought him considerable profits. Cao Wenxun also knew that Mr. Gu did this on purpose. Wu Peng came from a wealthy family, and Xu Jianqing and the other two were not married, so they did not have much expenses for the time being.
Cao Wenxun is very grateful for Mr. Yu Gu's care for him. Fund managers have their own holding standards. Even if the intraday fluctuations of individual stocks are too small, it is unlikely that they will change their holding principles because of traders.
Mr. Gu is very considerate of himself as he has given me the stocks with the largest volatility to trade, on the premise of holding the largest proportion of shares.
"It's hard to say, but we must also be prepared to reduce our holdings at any time. Baoneng has raised his bid for the fourth time. It will definitely be very difficult to buy in large quantities in the secondary market in the future." Gu Junhao responded with a smile.
"Indeed, this is a clear attempt to seize control. Neither the original largest shareholder nor the management will admit defeat so easily. Moreover, the current public opinion is not favorable to Baoneng."
"Well, the public opinion mainly attacks his high leverage ratio and his squandering of policyholders' money. Leverage ratio is indeed a big problem for him."
"When will we reduce our holdings?" Cao Wenxun asked.
"Let's wait and see. It's impossible that the management and the original shareholders have no reaction at all. Besides, judging from the Dragon and Tiger List on No. 2, new funds have entered the market. It is estimated that the stock price will rise further. Let's wait and see."
"That's right. Anyway, our holding cost is almost the gold safety line. There is no need to be too anxious."
"Well, you keep an eye on it first, and I'll continue selling Tianqi Liye for fun, haha." Gu Junhao said with a smile.
"The lithium concept sector has soared today , and the price of lithium carbonate has soared. This is a big positive. Why are you still selling, Mr. Gu?"
"Lithium carbonate is a cyclical product. Its price has increased almost fivefold in this period, and the quoted price has exceeded 100,000 yuan per ton. I think this should be a recent price peak."
"That's true. The price has risen too much. The upstream industry chain can't rise any higher. Tianqi's stock price has increased several times."
"Yeah, who would have thought that the stock market crash was just the beginning of Tianqi Liye's business? The rise of cyclical stocks is really crazy."
At 10 o'clock, Tianqi Liye reported 170.45 yuan, and the stock price rose by 8.36%. Gu Junhao was not in a hurry. Through reducing positions in recent days, his proprietary trading position in Tianqi Liye has dropped to 6,330 lots.
Gu Junhao plans to sell 4,330 lots today, leaving a bottom position of 2,000 lots to make it an integer. There is a probability that Tianqi Liye will hit the daily limit today, and the selling volume of more than 4,000 lots is not considered too large.
At 10:05, several buy orders worth up to 185 million yuan pushed Tianqi Liye’s share price to 173.03 yuan, hitting the upper limit for the first time that day. Upon seeing this, Gu Junhao hurriedly posted a position of 4,330 shares that he wanted to sell at 173 yuan.
Soon, the order was executed quickly. After two minutes of repeated transactions, more than 20 million yuan of funds followed up to sell. Tianqi Liye’s stock price stayed on the daily limit for only two minutes before it was smashed by funds led by Gu Junhao. The stock price was reported at 171.39 yuan, with a real-time increase of 8.96%.
After seven trading days, Gu Junhao finally completed the task of reducing positions in Tianqi Liye. The reduction of 28,000 lots brought back a total of nearly 430 million yuan, and the current market value of the 2,000 lots of holdings is as high as more than 34 million yuan.
In the five months from July 8 to date, Tianqi Liye, which had an initial investment of 106 million yuan, has made a profit of more than 350 million yuan to date. The first stock purchased by Junshi on its own account has generated explosive returns.
As for US stocks, as of last night, Nvidia's share price had closed at 33.10 yuan, and the returns were quite good. Gu Junhao took a look at the transaction records in the account. After a trader specializing in foreign stock trading joined, Nvidia's trading efficiency increased significantly.
Although its current earnings are still not as good as Tianqi Liye, the profit is from Daole, and the profit is from cutting Lao Mi's leeks. The sense of accomplishment is quite different compared with A-shares.
If the expected returns can be achieved, it will not only be a perfect supplement to Junshi Capital's performance; it will also be a benefit to GJ's foreign exchange reserves. After all, when the funds flow back, they can be converted into RMB, which the regulators will certainly be very happy to see.
The reason why the subsequent exchange of US dollars was so smooth was that, in addition to the good impression left by Gu Junhao's active rescue of the market , the income from Junshi's proprietary trading positions was also a major factor.
At the beginning, Gu Junhao impressed the other party with the profits from this deal and the good impression he had left before. In the other party's view, without affecting the foreign exchange reserves, based on the past performance of this young manager Gu, he might bring unexpected surprises to everyone in the US stock market.
After Tianqi Liye hit the daily limit price for the first time during the day and was broken, there was no quick follow-up of the closing funds, and the stock price gradually pulled back to the yellow moving average of the day, which was around 7% increase, and then fluctuated at a high level.
At this time, Vanke's stock price had once again broken through the 18 yuan mark. At 10:30, the stock price closed at 18.15 yuan. The trading volume in just one hour had exceeded that of the entire day yesterday. The abnormal movement was very obvious.
At 10:50, Vanke's trading volume increased again, and the stock price trend also entered a steep stage. At 11 o'clock, Vanke was priced at 18.80 yuan, and the intraday increase rate reached 5.8%.
"It's already very obvious that the defenders or new big funds are buying. It looks like there will be another big increase today." Gu Junhao said with a smile.
Vanke's recent trend can be described as completely independent of the broader market and sectors. Large funds are rushing to buy shares regardless of cost. It is so arrogant. At the close of midday trading, Vanke reported 18.94 yuan, up 6.58% on the day.
In the morning, Vanke's transaction volume exceeded 3.5 billion yuan, exceeding yesterday's full-day transaction volume of 800 million yuan. Tianqi Liye closed at 169.80 yuan at noon, with its share price up 7.98% and its trading volume also greatly increased.
In the afternoon, Vanke's share price accelerated its rise, and by 1:30 p.m., the increase had exceeded 9%. The probability of another daily limit increase today was quite high. As the trading progressed, half an hour later, Vanke's share price was 19.55 yuan, successfully hitting the daily limit.
After hitting the daily limit, Vanke successfully closed the board without any more chances. At the end of the day's trading, Vanke's trading volume reached 6.73 billion yuan, which was the sum of the trading volumes of the first two trading days of this week.
After fluctuating at a high level in the afternoon, Tianqi Liye closed the board again at 14:45. However, the closing structure was already very weak. Tianqi Liye, whose intraday trading volume reached 3 billion yuan, had become a spent force as its stock price approached its previous high.
After today's trading, Gu Junhao has officially completed the plan to reduce his holdings in Tianqi Liye, and he can breathe a sigh of relief. Apart from Vanke, there will be no major changes in his holdings.
Apart from waiting for the circuit breaker to be launched, there should be no major changes in the position. Gu Junhao does not plan to reduce his holdings in Longji shares in his personal account. As for increasing his holdings, there is no need to do so as there is no need to hold more shares than the national team.
At half past five, Tianqi Liye and Vanke A both appeared on today's Dragon and Tiger list again. For Tianqi Liye, Gu Junhao ranked second in selling, and the first seller was Zhongxin Securities Shenzhen Headquarters Sales Department, which sold nearly 100 million yuan.
Among the buyers, most were hot money. Among them, Gu Junhao, who had some impression of Shenzhen Jintian Road, bought 46 million yuan, ranking fifth.
Today's Dragon and Tiger List of Vanke A is still very luxurious, with the buyer, Fortune Securities Shenzhen Shennan Avenue Securities Branch, buying more than 1.8 billion yuan.
The other four seats bought between 200 million and 300 million yuan. It is obvious that hot money is taking advantage of the situation. This is reasonable, after all, Baoneng cannot buy any more this week.
The purchase of one seat exceeded 1.8 billion yuan, which was obviously an increase in holdings by major shareholders. In the evening, Vanke also issued a real-time announcement that the company's fourth largest shareholder, Anbang Insurance, recently purchased 550 million yuan of A-shares, accounting for 5% of the company's total share capital, forming a stake.
This announcement caused an uproar in the market. The entry of Anbang Insurance made the competition for Vanke's shares once again become confusing.
What is Anbang's plan for entering the market at this time? All this should be viewed from the perspective of Vanke's company charter.
According to the company's articles of association, if a shareholder holds 30% of the shares, he or she will become the actual controller of Vanke.
Previously, when Baoneng held more than 20% of the company's shares, although the management was a bit stubborn, it basically complied with the company's articles of association.
By becoming a company investigator, you can enjoy the power to reorganize the board of directors and management according to the company's articles of association. Previously, the equity has always been relatively dispersed.
As of now, the shareholding ratio of Vanke has become: Baoneng holds 20%, the original largest shareholder holds 15%, the management holds 7%, and Anbang holds 5%.
Judging from the equity distribution ratio, Anbang's fate is self-evident. Regardless of whether it forms a joint action with Baoneng or with the original largest shareholder and management, both parties are only one sign away from the 30% shareholding red line.
In corporate management, the so-called persons acting in concert are two or more shareholders who form an offensive and defensive alliance to achieve the same goals.
The two parties add up their voting rights to increase their voice in the company, thereby achieving the goal of controlling the listed company.
An Bang's entry into the game at this time can be said to be a good calculation. Basically, he is in an invincible position. Both the attacking and defending sides need to win over him, the fourth largest shareholder.
