Chapter 385: The group-buying trend is beginning to show signs of happening.
Since the 21st, the last , the Shanghai Composite Index has been adjusting up and down around the long lower shadow line of the 20th. After falling below 3,000 points, the Shanghai Composite Index has entered a breakout state.
In the short term, even with the positive stimulus of the central bank's continuous release of liquidity, it is not easy to change the current weak market environment.
The index is still revolving around the support of the 60-day line, but after all, the pressure from above is a bit too great, so the adjustment space is limited.
If we want to truly realize the 20% rebound space as the expert named Ren said, we must break before we build. Only when there is real room for a fall can we realize a real rebound.
In Gu Junhao's opinion, the market will inevitably have its last drop this year, and the level around 2,900 points is far from the bottom this year.
The fact that the stock market has been hovering around 3,000 points for a long time also shows that this is not the so-called bottom, and Gu Junhao knew the high point in 2016.
It is around 3400 to 3500 points. This position will be the sideways range and pressure position of A-shares for a long time to come.
Combining the high point and the 20% rebound expectation, that is to say, since the sharp drop on April 20, the lowest position of A-shares is around 2,800 points, which is consistent with the judgment of the broader market.
In the following week, Gu Junhao handed over all the specific work of the fund to Liu Tingting, while he himself prepared for on-site research of listed companies after the May Day holiday.
This year's May Day holiday starts on the 30th and ends on May 2nd, a total of only three days, which also includes a weekend off. It seems that starting from this year, long holidays have become increasingly uncomfortable for ordinary people?
All kinds of fancy adjustments have made people lose their initial expectations for holidays.
There are many things that a fund needs to do before conducting research on a listed company. Before visiting a listed company, it is necessary to fully collect various information related to the company, including annual reports, industry and market competitiveness information.
In addition, there are some media reports about the company. Collect all this information and conduct preliminary research to form a general impression and logical judgment about the company in order to form a preliminary analysis.
All of these are handed over to the research team of the investment department. Gu Junhao only needs to give them the list of listed companies that need to be researched, and they will summarize and complete the final report and hand it over to Liu Tingting for processing.
These are just data collected before the investigation. When it comes to the field investigation, these data are actually not of much use. On the contrary, there is no need to focus the research energy only on the enterprise itself. Communication with the enterprise's related departments and companies is the most critical.
For example, for the suppliers, product agents and other companies connected to it, understanding the specific is far more realistic than the simple data on the report.
The entire visit process to listed companies needs to be recorded in detail. Such records include but are not limited to: notes, photos, audio and video recordings, etc. The workload is still very large within a limited time.
The reason why we chose to start the research in May is that after the end of this month, the first quarter reports and financial reports of major companies will have been announced, and the silent period during the main financial statements of listed companies has passed.
Not only Junshi Fund, many fund companies are now preparing for the next survey.
Within a week, the stock market was calm, and the liquor sector as a whole was already near the 60-day line, showing signs of stabilizing.
On April 27, Maotai Liquor Industry officially announced the resolution of the second shareholders' meeting of 2016, disclosing a series of data of the entity during the reporting period, the dividend plan and the list of the top ten shareholders.
In fact, this year's dividend plan is very generous, with a dividend of 61.71 yuan per 10 shares.
Calculated based on Maotai’s closing price of 244.88 yuan on April 27, the dividend ratio is 2.52%, far exceeding market expectations.
Since the resumption of trading after the shareholders' meeting, Junshi Value Investment has accelerated its position building in the liquor sector and Maotai, especially on April 20, the day when the market plummeted. Maotai fell 1.95% on the day and its share price hit a low of 235.80 yuan.
In eight trading days, Junshi Price Investment bought a total of 8,250 lots of Maotai stock, with an average transaction price of around 242.5 yuan, which has reached the fund's maximum holding.
After completing the position building, Junshi No. 2 and Junshi Value Investment held a total of 3.825 million shares of Maotai Liquor, with a total market value of more than 936 million yuan.
Calculated based on the dividend ratio, a total of more than 23.6 million yuan in cash can be distributed.
It is really a very comfortable thing for large funds to hold these blue-chip stocks with excellent performance, generous dividends and stable expectations.
If he had not founded the fund company, it would have been relatively easy for Gu Junhao to buy 10,000 shares of Maotai Liquor Industry based on his current wealth.
According to the current dividend ratio, even if there is not much expectation of stock price increase, Gu Junhao can easily get more than 6 million yuan in cash every year, which is more than enough for his daily expenses.
The two funds hold a total of 3.825 million shares, but are still not qualified to be listed among the top ten shareholders of Maotai Liquor in the first quarter.
Among the top ten shareholders of Maotai, the tenth one holds nearly 5 million shares, accounting for 0.4% of the shares.
Unlike small and medium-cap stocks, Gu Junhao still has a long way to go if he wants to be among the top ten shareholders of these large blue chips.
Without exception, among the top ten circulating shareholders, except for the controlling shareholder, all of them are major funds including national teams and foreign capital.
Judging from the list of shareholders in Maotai Liquor’s first quarter annual report, the trend of large funds flocking together has begun to emerge.
In the next few trading days, the annual and first quarter results of some blue-chip stocks all showed this situation.
Trading for the entire month of April officially ended on Friday, the 29th, with the Shanghai Composite Index closing at 2938.32 points, down 2.18% for the month.
The ChiNext Index closed at 2138.74 points, down 4.45% for the month. After a sharp rebound in March, the Shanghai and Shenzhen stock markets once again entered a downturn.
Looking at the transactions since March, the daily trends of the Shanghai and Shenzhen stock markets have remained in a very small range, and the largest decline was the intraday drop on April 20.
After the stock market crashes in January and February and the rebound in March, the Shanghai and Shenzhen stock markets have gradually gotten rid of the wide intraday fluctuations caused by the crashes and entered a normal bear market operation state.
In today's after-market news, senior officials once again talked about the stock market, which is rare since the stock market crash, and expressed their willingness to promote the healthy development of the stock market.
The PMI index for April, which was also released, was 50.1%, the same as the same period last year. It has been in the expansion range for two consecutive months, indicating that the economic recovery process is still in a stable range.
Before the May Day holiday, the market had more expectations for the future market due to the rare statements made by senior officials.
