Chapter 404: Unexpected Visitor
Without the support of energy-saving funds, the share price of Vanke A continued to fall in the next two trading days this week.
As of the close of Friday, July 8, Vanke A closed at 18.75 yuan, having fallen below Baoneng's cost line of 19.83 yuan.
The second extraordinary shareholders' meeting proposed by Baoneng was also decisively rejected by the Vanke board of directors.
After the closing on July 8, Vanke issued 13 announcements in a row.
In addition to refusing to hold the second extraordinary general meeting of shareholders, it also involves the annual report of the board of directors, the progress of asset restructuring and some changes in H shares.
In addition , there is a dividend plan for 2015, which is also included in this announcement, with a dividend of 7.2 yuan per 10 shares.
Based on the stock price of 18.75 yuan at the time, the dividend yield was 3.84%, which was in line with Vanke's average dividend yield over the years.
Since resuming trading on Monday this week, Vanke A has fallen a total of 30.29%, and its share price has plummeted. In addition to Baoneng's heavy losses, the worst hit are the retail investors who rushed in at high levels this week.
Retail investors, who were misled by the hype from various media and the temptation to buy at the bottom brought about by consecutive limit downs, vented their dissatisfaction on major social media over the weekend.
Excluding factors related to capital and news, and looking at Vanke purely from a technical perspective, Vanke's daily line is already completely broken at this time.
On the weekly chart, Vanke has fallen below the 5-day line and is in a state of downward adjustment on the technical level.
If Baoneng cannot raise a large amount of funds in a short period of time, or if new investors enter the market, Vanke will inevitably make further adjustments downward.
Next, Vanke continued to fall for two consecutive trading days, for which Baoneng had to make additional pledges; on July 12, Baoneng pledged 37.3573 million shares to Yinsha Securities to supplement its margin.
As of July 12, the shares pledged by Baoneng have accounted for 8.39% of Vanke’s total share capital. More than 900 million shares have been pledged, and the pledged shares have accounted for one-third of its total holdings.
Due to the replenishment of margin, the risk of Baoneng’s margin call has been temporarily alleviated, but Baoneng is no longer able to launch a sixth bid.
From the result of the fifth takeover, it can be seen that Baoneng’s capital chain has encountered certain crises. At least it can no longer buy as indiscriminately as it did a year ago.
Boss Yao, who was full of energy and vigor a year ago, would not use this method to relieve the pressure of margin calls. He would only buy, buy and buy!
"In the short term, Vanke will not see much improvement. Wait until it stops falling and shows a few consecutive red candles before buying."
"Okay, it looks like it will continue to fall for several days. We have to wait until it reaches the five-day moving average of the daily line."
"Well, go do something else. Don't forget to announce the second quarter holdings this Friday."
After watching the big show for more than ten days, Gu Junhao still didn't have any good opportunities to get involved in Vanke again, which made him feel a little disappointed.
The market was pulled up again above 3000 points today with a gain of 1.82%, closing at 3049.38 points.
Today is already the 12th. According to the usual nature of A-shares, the market rose in the first half of the month, and the market conditions in the second half of the month will definitely not be much better.
There are only three trading days left until the end of the first half of the month, and the big negative line on May 6 has been digested, but the pressure in the 3050 range is still a bit high.
It is probably not so easy to quickly break through the pressure level in a short period of time. It is more appropriate to use half a month to adjust and digest it.
Today's trading day has ended. After thinking that there was nothing important to do today, Gu Junhao left work early.
The company currently has several primary market projects underway, which are still under negotiation. Gu Junhao has handed over some of the early stage matters to senior executives.
There have been two successful cases of capital injection, and everyone is basically familiar with the necessary procedures.
This time, Xu Jianqing would occasionally participate in it. When there were negotiations, he would bring him along to let him experience the process. Usually, he was mainly in the trading room.
The next thing Gu Junhao wants to do is to participate in new listings in the primary market. The company has been operating stably for nearly three years, and all the conditions for new listings in the primary market are already in place.
Although the final profit from new shares will not account for a large proportion, but at least before 2022, the profit from new shares is a very stable number. When small amounts accumulate, it is also a considerable number.
Not only that, Gu Junhao will also actively allocate convertible bonds. After 2018, the bond market will be a small bull market.
As an equity-oriented fund, there is no rule that prohibits the purchase of convertible bonds, as long as 80% or more of the funds are used for stock investment.
Excluding the 5% cash flow guarantee, Junshi Value Investment can allocate up to 15% of its funds to convertible bond investments.
Based on the current scale, there is at least 700 million yuan of funds that can be used for investment in convertible bonds, and as the scale increases, the amount that can be invested will certainly increase.
It is definitely unrealistic to buy such a large amount of funds in the secondary market. It also requires the primary market, or the allotment of individual stocks.
It is conceivable that when Gu Junhao entered the bond market, he was also a major investor.
…
Wednesday, July 13th.
Early in the morning, Gu Junhao came to the company, dealt with some business for a while, and was about to go to the trading room to check the market.
At this time, Li Xinyu stopped him.
"What's wrong? Is there anything?"
"I almost forgot. There was an appointment call before 8 o'clock this morning. It was from someone above." Li Xinyu said mysteriously, pointing his finger upwards.
"Hmm? The ones above? It seems like nothing has happened to us recently?" Gu Junhao asked with some confusion.
"He didn't say anything specific, but it shouldn't be a bad thing, so boss, don't go to the trading room today."
"Okay then, what time is the appointment? How many people?"
"At 10 o'clock in the morning, several people didn't say anything."
"Okay then, you prepare a little bit and simply set up the conference room. I'll call Tingting and leave the deal to him today."
I stayed in the office until 10 o'clock, and the people who had an appointment arrived on time. There were two of them in total. They should be the person who called to make an appointment as Li Xinyu mentioned.
One of them was relatively younger, and the other was a middle-aged man who looked to be in his 40s. Judging from their dress, they both seemed to be working in the system.
"Hello, both of you. Please take a seat. Xinyu, bring two bottles of mineral water." Gu Junhao smiled and guided the two to the sofa area.
"Hello, Mr. Gu. Let me introduce myself. My last name is Xie. You can call me Xie Jun. This is my business card."
While Xie Jun was speaking, the young man next to him immediately took out a name tag and handed it to Xie Jun. It seemed that he was his assistant.
Gu Junhao took the business card from Xie Jun, read the information on it, and looked up at Xie Jun with some surprise.
Jiufeng Trust is a trust company under Beicang Urban Investment Group, named after the local Jiufeng Mountain. Xie Jun is actually the senior vice president of this trust company.
"It's Mr. Xie. I've heard a lot about you. Please don't stand. Take a seat. I'm sorry for the poor hospitality."
"No, we came here uninvited and disturbed Mr. Gu." Xie Jun said politely with a smile on his face.
"No, no, it's an honor for Junshi Capital to have you two visit us." Gu Junhao responded by talking about some polite topics.
Junshi Capital has no business dealings with the Urban Investment Corporation, and no one knows why Mr. Xie came to visit.
"It's better to meet in person than to hear about it. Mr. Gu spent less than three years in the secondary market and grew his business from 20,000 yuan in cash to a scale of over 13 billion yuan today. He is very admirable."
The other party praised him a lot, but also revealed some information, that is, they should have found out everything about Gu Junhao before coming, but for them, it was not a strange thing.
"Mr. Xie, you are too kind. It's just that we happened to be in luck during this period of national fortune." Gu Junhao chuckled. From the other party's few words, he could roughly guess the purpose of this visit.
Junshi Capital's three secondary market businesses all performed excellently, attracting some institutional investors, which is quite normal. Junshi Value Investment currently has a considerable number of institutional investors.
The arrival of Jiufeng Trust was unexpected, but not entirely unexpected.
"I wonder what important matter Mr. Xie has for coming to visit this time?"
Seeing that Gu Junhao got straight to the point, Xie Jun naturally did not beat around the bush and said bluntly, "That's it. Our Jiufeng Trust has a decent asset recently, but we are worried about where to invest it. The market this year is not good, but the fund under Mr. Gu has performed very well. We hope to entrust it to Mr. Gu. What do you think?"
Xie Jun's assistant continued, "We have been following Mr. Gu through the Beicang Securities Regulatory Bureau for half a year, and this time we also entrusted him to make the appointment."
So that's why. No wonder Li Xinyu said that it was the people above who made the appointment. She thought she had done something wrong.
"How much money do you have?" After understanding what was going on, Gu Junhao looked at Xie Jun and asked.
"The first batch of funds is 600 million US dollars, which is not a lot. I don't know how Mr. Gu will arrange it."
"It's indeed not much. I wonder what Mr. Xie thinks." Gu Junhao nodded.
With less than 4 billion yuan of funds, and not in RMB but in US dollars, they must have their own ideas.
"We want to invest more in stock markets other than A-shares. Mr. Gu's performance in Mi stocks is also excellent. It's not easy for us to make a move in this area, you know."
Nvidia's closing share price last night reached US$52.80. The market value of this young man's holdings has exceeded US$370 million, and his ability to make money is terrifying.
As a US technology stock, Nvidia's choice can be described as very clever. While its share price is rising, it does not show off its strength.
Unlike Apple, Tesla, and Google, which are hyped by the media every day and exposed to public attention.
Take the ordinary people in China for example, they are definitely paying attention to Apple, Google and Tesla.
But apart from computer enthusiasts and some shareholders, not many people really understand NVIDIA.
The timing of the two position building was also very good, both were at stage low points, and the overall position building cost was only US$25. Now, in less than a year, it has doubled.
The timing was perfectly grasped. It would be a blessing to have such an outstanding fund manager to manage the assets that Jiufeng Trust is not convenient to manage.
Xie Jun even wanted Gu Junhao to join the system to manage part of the assets under Jiufeng Trust.
Of course, he also knew that this possibility was almost non-existent, so after a meeting and discussion, he decided to give a sum of assets to Junshi Capital to manage.
