Chapter 447 A Day of Great Harvest
On the first weekend of July, the capital market became hot again and gossip was the talk of the town.
No one would have thought that in today's extremely bearish situation, Junshi Capital, or Gu Junhao himself, would choose a company in the vortex as the first company to hold a stake.
Based on the current problems of China News Service, retail investors are divided into two major camps regarding Junshi Capital’s stake holding.
Some people believe that according to Gu Junhao's usual big picture, China News Service is currently at a stage-by-stage bottom and is a position worth buying at the bottom.
After all, the last time China News Service’s market value was over 60 billion yuan was in July 2014.
Another part of the people think that Gu Junhao is getting too arrogant and is treating investors' money as if it is nothing and is bidding for a company that has big problems.
This group of people believes that a mature fund manager should not buy companies with obvious problems, especially in such a sensitive environment.
The two major camps were arguing fiercely in the fund comment sections of China News Service and Junshi Value Investment.
Now, even if Junshi Value Investment has not yet announced its second quarter holdings, investors already know that it must hold a large number of China News Service shares.
Judging from Junshi Capital's holdings in the first quarter, they were mainly concentrated in the three major sectors of medicine, technology and gold. Judging from China News Service's takeover this time, Junshi Capital is very likely to continue this holding strategy in the second quarter.
Unlike most fund managers in the market who specialize in a certain sector, those who hold pharmaceutical stocks almost all have pharmaceutical stocks, and those who hold liquor almost all have liquor stocks.
Junshi Value Investment's style has changed a lot. When Gu Junhao took over as fund manager, due to the small overall scale, the funds held were mainly small and medium-sized new stocks.
After that, Gu Junhao held the liquor sector for another year and a half, and for this he even earned the title of a sauce-flavored liquor manager.
This year, among the holdings in the first quarter, all liquor stocks were sold out and replaced by pharmaceutical and technology stocks.
Previous holdings have proved Gu Junhao's judgment on the sectors, and his clearance of the liquor sector is even more amazing.
The liquor sector was one of the sectors with the biggest declines at the beginning of this year, while technology and medicine also rebounded in the first quarter.
Putting aside the ups and downs of the technology sector, Hengrui Pharmaceuticals, one of Junshi Value Investment's holdings, is one of the few stocks that have achieved positive growth this year.
At the end of May this year, Hengrui shares' share price rose to a maximum of 102.87 yuan, while at the beginning of the year, its opening price was only 69.42 yuan.
In the unilaterally downward market in the first half of the year, Hengrui's highest increase was nearly 50%, which can be regarded as a rare highlight among blue-chip stocks.
At the end of May, Hengrui officially ex-rights, dividend 1.3 yuan per 10 shares and at the same time a 10-for-3 stock split; in the month after the ex-rights, Hengrui's stock price remained very strong.
As of the close of July 6, Hengrui closed at 69.98 yuan. The increase after the ex-rights price still exceeded 30%. Even without taking the ex-rights price into account, its stock price still has a positive return compared to this year's opening price.
Some interested investors can track the changes in the stocks in Junshi Price Investment's holdings and determine some specific trend changes.
From 2016 to 2017, when Junshi Capital did not reduce its holdings in the liquor sector for two consecutive quarters, some bold investors started buying liquor.
In an upward trend, you can make money by buying, but this year it is different. This year it is a one-way downward trend and few people can make money.
After all, Junshi’s price investment positions were announced with a lag of three and a half months, so some stocks may have been liquidated when they were purchased.
When the positions were announced for the first time this year, it coincided with the beginning of the big drop in April; so in a bear market, buying must be done with extreme caution.
It is better to be empty or run a low position for a long time, and then choose to take action after reaching a certain level.
Keeping your hands off is a pain point that most A-share investors cannot ignore.
Over the weekend, the management team became a little anxious as the stock market continued to fall. A booming bull market returned to the starting point in just two or three years, resulting in a significant decline in the scale of IPO fundraising.
The failure to issue new shares is definitely the most troublesome thing. The regulatory authorities made a collective statement over the weekend. Maintaining stability and positive performance forecasts of small and medium-sized stocks will ensure short-term support.
At the same time, low valuations are also conducive to capital inflows, and rising volatility is beneficial to high-quality growth stocks . High-performance growth stocks are the main line in the medium and long term, and performance and growth will be the dominant logic.
Such a straightforward statement is just short of telling investors clearly that the current area is the bottom. Although there are no specific policy measures, it can at least stabilize the morale of the troops.
Following the comments from regulators, a small-scale rebound also began on July 9.
On July 9, the Shanghai Composite Index surged 2.47%, returning to above 2,800 points at 2,815.11 points. The Shenzhen Component Index and the ChiNext Index both surged by more than 2.5%.
On the market, pharmaceutical stocks led the gains, with many pharmaceutical stocks hitting their daily limit. The decrease in the number of IPOs led to strong performance of existing secondary new stocks.
The first semi-annual reports of the two cities were released over the weekend, and the speculation on the semi-annual reports officially began.
The wind power standards will be officially implemented in October this year. Wind power stocks surged today . After 15 years of bull market, almost no one was interested in electric power stocks.
After falling for more than three years, with the emergence of new concepts and a batch of new electric power sector stocks listed, the electric power sector has regained considerable vitality in the following years.
However, speculation sentiment in the market is still very strong. Two stocks, Delisted Gene and Delisted Kunji, which have only two trading days left in their delisting consolidation period, saw one of them hit the daily limit today, while the other soared 6%.
Such stocks can be hyped, in our A-share market, there is really nothing strange.
There are only two trading days left before the stock is delisted. Even retail investors can participate in trading such stocks, which can be regarded as a doomsday carnival.
Tomorrow and the day after tomorrow, the stock price will hit the lower limit, and you won’t be able to escape. It’s ridiculous to think of making some money and then getting out.
In today's early trading, a stock that rose to the daily limit awakened Gu Junhao's memories of the past. The leader of the ceramic capacitor component sector issued a price increase announcement today.
The passive component sector therefore surged. Fenghua shares, which opened nearly 7% higher in the morning, quickly hit the daily limit. The unusual stock price made the past events come to mind bit by bit.
In his previous life, Gu Junhao didn’t really want to get married, but for various reasons, he missed the girl he liked.
And this girl has a great connection with this stock.
Gu Junhao switched the interface of his computer to this stock. Fenghua shares, which had risen strongly to the daily limit and returned above the five-day line, was firmly capped at the daily limit.
It took a while for Gu Junhao to come out of this trance.
"Forget it, I won't buy him. Let the past be the past. I hope she can live a good life in another time and space."
By the way, there are quite a few stocks that hit the daily limit today, and the rebound strength of each major sector is indeed not small. Although the trading volume still did not increase, it finally made the leeks happy for a day.
Sino-Singapore Telecommunications' performance today was average, and its volatile pattern was not changed by Junshi Capital's stake acquisition. Sino-Singapore Telecommunications closed at 13.10 yuan throughout the day, with its share price rising by only 0.06%.
However, the turnover rate still remained at 4.85%, and the trading volume was 2.17 billion yuan. The turnover in the bottom area was still very intense.
Bullish and bearish institutions and retail investors pass each other by at this position.
On the 10th, the Shanghai Composite Index rose for three consecutive days with reduced volume, marking a rare continuous rebound in the past few months. After a slight adjustment on the 11th, the index once again ushered in a retaliatory rebound on the 12th.
On Thursday, July 12, A-shares swept away yesterday's gloom, with the Shanghai Composite Index surging 2.16% and the ChiNext Index surging 3.3%.
And in the early hours of last night, news came from the other side that the other side had formally reached an agreement with China News Service to lift the ban!
In terms of A-shares, China News Service was stimulated by this major positive news and directly reported a daily limit at the opening, with the share price at 13.31 yuan.
As for the Hong Kong-listed China News Service, it opened 14.90% higher today and eventually surged 25.13%, with its share price at HK$13.94.
In terms of Hong Kong dollars, the profit of China News Service, which is held by Junshi Group, has reached nearly 40%, and its A-share holdings have also been officially untied.
Since a round of sharp rise, the share price of Sino-Singapore Communications has hit a low of 11.85 yuan. Sino-Singapore Communications, whose ban has been lifted today, will officially embark on the road to rebound.
Both A-share and H-shares surged. In the past few days, the share price of China News Service, which had performed generally, was soaring. Investors who had previously expressed opposition could no longer utter sarcastic remarks.
"Brother T is awesome. This time, Brother T really made it to the bottom. The lifting of the ban is definitely a big plus. I am convinced."
"Haha, what about those people who said that Brother T treated investors' money as if it were nothing? Not only did Sino-Singapore Telecom surge today, but the chip industry also surged, right?"
"Brother T, please announce your holdings as soon as possible, I beg you, today is the 12th, one day is not a big deal, let us also buy some bottoms."
"Follow up, I didn't dare to copy the China News Service which was at 12 yuan before, but I can't buy it today when it's at the same price."
"These major funds are really cunning. They didn't pull up the stock price in the first three days of this week and even suppressed the stock price. Do they think Brother T can't buy it?"
"Look at the changes in Junshi Value Investment's net value today tonight, and you'll know Brother T's approximate holdings. The pharmaceutical and technology sectors have performed well in the past few days. The net value started to rebound a few days ago, and it's probably still these sectors."
For Junshi Group today, not only did its heavily-invested China New Communications surge, but Ning Wang, which held 71.4286 million shares, also ended its sideways adjustment today and closed at the daily limit!
Ningwang, with an amplitude of 11.9% throughout the day and a trading volume of 3.42 billion yuan, went out of a shrinking limit-up trend. The stock price was 84.77 yuan, a new high since its listing.
Calculated based on today's stock price, the total market value of Ningwang held by Junshi Group has exceeded 6 billion yuan! In 15 trading days, a huge profit of 1 billion yuan!
Including the pharmaceutical stocks held and many technology stocks that hit the daily limit, today is a bumper day for Junshi Group.
