Chapter 407 Hong Kong Stock Layout
Since reaching its peak in April last year, the Hang Seng Index has been falling all the way due to the poor investment environment in A-shares and international stock markets.
However, unlike the A-shares which have remained stable at around 3,000 points since the stock market crash, the rebound of the Hang Seng Index after each round of decline has been very strong.
Since hitting bottom in February this year, the Hang Seng Index has rebounded nearly 20%.
However, Gu Junhao knew that this was just the beginning. From February this year to 2018, the bear market phase experienced by A-shares happened to be the bull market phase of the Hang Seng Index.
In two years, the Hang Seng Index has nearly doubled, making countless people who have been suffering in the A-share market during this period envious.
In addition to proprietary trading, Gu Junhao also plans to allocate some Hong Kong stocks to Junshi Value Investment to hedge against the adjustments of A-shares in the past two years and stabilize its net value curvature.
Monday, July 25th.
After five consecutive negative adjustments, the Shanghai Composite Index fell to 30,12.82 points by last Friday, which marked a new round of battle to defend the 3,000 points.
Before nine o'clock in the morning, Gu Junhao arrived at Trading Room No. 2. The traders were making pre-market preparations and did not notice Gu Junhao's arrival.
However, the sharp-eyed Xu Jianqing did see that he was also in the trading room today. Normally, if there were no plans to go out on Monday, Xu Jianqing and Wang Ruoyu would arrange the week's operation plan in the trading room.
"Boss, why are you here?"
Ever since Junshi Price Investment resumed trading, Gu Junhao has not appeared in this trading room during official trading hours. His arrival today surprised Xu Jianqing.
"I came to find you." Gu Junhao said with a smile.
At this time, Wang Ruoyu and other traders also discovered Gu Junhao and greeted him one after another. Gu Junhao responded one by one.
"Looking for me? This means that the boss will be here to direct the transaction today!" Xu Jianqing said happily.
To be honest, he really didn't have much interest in the primary market financing negotiations that Gu Junhao had arranged for him to participate in.
Compared with business wrangling, Xu Jianqing prefers pure transactions. This is one of the reasons why he was particularly happy when he heard that Gu Junhao came to see him.
Needless to say, the boss must have another plan to build a position, and it must be more formal, otherwise the boss might just call me to the office to mention it.
"Let's talk inside." Gu Junhao walked towards the office area of Xu Jianqing and Wang Ruoyu.
"Okay." Xu Jianqing shook his shoulders with joy, leaving Wang Ruoyu, who came over to greet him, speechless.
As soon as he entered the office area, Xu Jianqing closed the door and immediately asked Gu Junhao impatiently, "What do you want, Boss?"
"Why are you so anxious?" Gu Junhao said speechlessly.
"Of course I'm anxious. There aren't many trading opportunities in Longji, and the Mi stock has been divided up by those traders. I don't have anything to play with recently."
At this time, Wang Ruoyu also smiled and said, "That's right. A few days ago, he stole our group's opportunity to trade Wan Ke. The performance commission belongs to the trader whose opportunity was stolen. Just let him trade."
After hearing what Wang Ruoyu said, Gu Junhao also shook his head: "Didn't I ask you to negotiate with the primary market group? You can go meet with Li Xinyu and Director Shen more often."
"I've been there twice. It was so boring. We talked about tens of millions of dollars and sometimes we had to go drinking. It wasn't cool at all."
"It's really a hopeless case. Well, if you don't want to go, then don't go. You probably won't have time to take care of these things later." Gu Junhao shook his head helplessly.
In fact, Gu Junhao wanted to focus on training Xu Jianqing. The first reason was that Xu Jianqing had absolute trust and loyalty to Gu Junhao, and the other reason was that Xu Jianqing's personality was more likable.
The original plan was to let Xu Jianqing gradually get involved in both the secondary and primary markets, so that by 2022, maybe he could retire early.
It now seems that Xu Jianqing has no interest in this type of investment in the primary market, and is even somewhat resistant to it.
Never mind. Everyone has his shortcomings and no one can be omnipotent. Maybe Xu Jianqing is born to be in the trading room.
"Don't have time to take care of these things? Is it that big project worth 600 million US dollars? Is the boss going to hand it over to me?" Xu Jianqing immediately guessed something.
Recently, an LP came to the company with a strong background. This was no secret among some people within the company, and Xu Jianqing also knew about it.
In Xu Jianqing's opinion, this big project should be taken care of by the boss himself.
Now, except Liu Tingting, the three traders who originally followed Gu Junhao are each responsible for a project independently.
During the one month that Gu Junhao was in the primary market, Junshi Value Investment's operations were normal, which means that it is on the right track. It is just right for the boss to free up time to manage the US$600 million in funds.
I didn't expect that the boss would actually give it to me!
"Well, I plan to let you be in charge of warehouse management. If there is a shortage of manpower, you can either apply to Manager Shen for recruitment or transfer from within. It's up to you to decide."
"Okay, no problem, still rice stock?"
"Not only US stocks, but also Hong Kong stocks. Let's look at Hong Kong stocks first. You should build positions in these two stocks first."
As Gu Junhao spoke, he called up the stock interface. The first one he brought up was Mahua Holdings. Without taking into account dividends and the like, the peak of this stock was around 2021, and the share price once exceeded 700 Hong Kong dollars.
It was also at that time that a wave of Hong Kong stock fever swept the country, and even investors who knew nothing about Hong Kong stocks were discussing the trends of Hong Kong stocks.
At the same time, countless Hong Kong-oriented funds were listed, and fund managers took investors' money to invest in Hong Kong stocks.
The year 2021 is also the last glorious period for Internet companies, after which everyone will condemn them.
Gu Junhao doesn't have a good impression of Internet companies, but the past few years have indeed been the peak period for Internet companies, and investing in Hong Kong stocks cannot avoid these Internet companies, especially those led by Mahua Holdings.
In addition to traditional industries such as finance, real estate, energy and consumer goods, Hong Kong stocks are mainly dominated by technology and biopharmaceutical sectors.
When investing in Hong Kong stocks, the technology sector and biomanufacturing are naturally the most promising nowadays.
As for some other traditional industries, you can find comparable substitutes in A-shares, and the growth rate is also quite good, so there is no need to invest in Hong Kong stocks.
In the biopharmaceutical sector, Gu Junhao is interested in WuXi Co., Ltd., which has not yet been listed. Gu Junhao is not very familiar with some other companies, so he will not consider them for the time being.
Mahua Holdings' current share price is in the range of HK$180 to HK$190. Since hitting bottom in February this year, it has risen by more than 40%.
Unlike A-shares which fall after rising too much, there is no need to be afraid of Hong Kong stocks and US technology stocks as long as the expectations remain. Every pullback is a buying point.
Calculated at HK$200, there is at least three times room for growth, and the market is large enough to accommodate sufficient funds.
"Build this stock first, then buy enough US$200 million for me at a cost of HK$180 before the end of the year." Gu Junhao pointed at Mahua Holdings and said to Xu Jianqing.
Calculated based on the current exchange rate, US$200 million is approximately HK$1.55 billion, or RMB 1.3 billion, which can be easily accommodated by Mahua Holdings' size.
There is more than five months left to build a position by the end of the year, which is enough time for Xu Jianqing to handle it easily.
"That's a big deal, boss; no problem, leave it to me." Xu Jianqing rubbed his hands and said excitedly.
"Don't worry, there are still 400 million US dollars left, which is enough to keep you busy. The time for building positions in other stocks will also be until the end of the year."
Afterwards , Gu Junhao called out another Hong Kong stock: Shunyu Optical Technology.
Xu Jianqing was confused when looking at this stock. He knew a little about the buying logic of Mahua Holdings, but this was the first time he heard of this stock.
This optical electronics company located in Yangming City, Ningbo, may not be well-known, but it is a hidden champion and one of the leaders in the field of electronic optics.
Shunyu Optics was founded in 1984 and listed on the Hong Kong Stock Exchange in 2007. It is one of the first mainland optical companies to be listed on the Hong Kong Stock Exchange.
Since 2010, the company has attached great importance to research and development and has increased its investment in research and development year by year. At the same time, the number of patents in hand has also been increasing.
Among its competitors in Mainland China, Taiwan and Hong Kong, Shunyu Optics ranks second in R&D investment.
Its products cover industries such as mobile phones, automobiles, security, micro-food, robotics, AR/VR, industrial testing, and medical testing.
We have also accumulated a large number of well-known brand corporate customers around the world, such as Samsung and Sony in the optical business field.
The optoelectronics field includes some well-known high-tech companies in the United States, and other well-known companies such as Zeiss and Olympus are also his customer groups.
It can be said that from the IT era to the mobile Internet era, Shunyu Optics has firmly grasped the pulse of the times and is a well-deserved leader in the market segment.
Gu Junhao was naturally familiar with such a local enterprise.
At today's opening, Shunyu Optics opened at HK$31, and after rising slightly to HK$31.7, it fluctuated downward. The total share capital is not small, but the trading volume is not as active as that of Mahua Holdings.
"You also buy this stock for 100 million US dollars, and then calculate the cost based on 32 Hong Kong dollars. How about that?" Gu Junhao said to Xu Jianqing with a smile.
"The trading volume of this stock is a bit small. It will probably take more than half a year to buy 700 to 800 million Hong Kong dollars worth of chips. But it doesn't matter. I can definitely do it."
Xu Jianqing looked at the trading volume of Shunyu Optics and couldn't help scratching his head.
"It doesn't mean that his trading volume will always be small. When the market comes, the trading volume will naturally go up. Don't worry about this. Just focus on building a position."
Then, Gu Junhao added: "There are still 300 million US dollars. You can spread it among the stocks in our US stock pool. The specific arrangements are up to you."
The US tech stocks include not just Nvidia, but also Google, Amazon, etc. With US$300 million dispersed among these stocks, it won't be a big problem.
If the size really grows too large by then, it should be enough to run away with part of the profits in advance.
