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First, "I will marry when I find an honest person."
The White Horse stocks have been very unsettled recently, and they are as stunned as Feng Yunjun. This in the end is why? Is it because of the pursuit of the wind, or the tree is not retained?
If the A-shares can create such a terrible atmosphere, I am afraid that the boss will reduce their holdings. However, this time, the reduction of the "debris flow" is different from the previous shameless reductions. This is the fact that the bosses of all the white horse stocks are reducing their holdings!
What? White Horse stocks boss also reduced their holdings? Warm men and uncles also play routines? Yes, fate is such a cruel, ruthless, unreasonable, unreasonable, no-frills.
Unexpected accident? Surprise is not a surprise?
Feng Yunjun solemnly swears with 100 voting rights in the account, I do not believe that I do not believe!
After all, I have just been cut by a crazy bull market for a round of leeks. The bloody lesson has successfully reversed our "investment" logic, tempered our strong will, and learned to no longer believe in the various X-Bus blown by the big A shares; I don’t want to buy and buy when I’m in a hurry. The result has become a long-term from short-term, from shareholder to shareholder, and from shareholder to family heritage:
"When the A-shares are untied, the family sacrifices are not forgotten."
When we finally realized that the listed companies that are tempted to play with all kinds of postures for a while, are not worthy of the lifelong "Prince Charming", the retail investors who have been abused for thousands of times finally have sad tears and learned. The truth of "getting a good old man to marry and live with peace of mind".
- So I turned to look at the white-horse shares of the warm-hearted uncle type, and all the property of the family was put on, and the happiness of a lower body. However, before I came to the spring, I turned my face and was slap in the face: the chairman and executives of the company reduced their holdings!
It turns out that the honest man is also a thin lover...
Second, the "thin lover" reduction plan
From March 10 to 13, 2017, Hisense Electric's shareholder Qingdao Hisense Electronic Industry Holding Co., Ltd. reduced its shareholding by 5,876,200 shares, accounting for 0.45% of the total share capital, and reduced its holdings by 115 million yuan;
On May 10 and 11, Supor’s director Su Xianze reduced its holdings by 162,900 shares and reduced its holdings by 7,685,500 yuan. On the 12th, Xu Bo, a senior executive, reduced its holdings by 40,000 shares and reduced its holdings by 1,966,800 yuan. On the 15th, Su Boer’s director Su Xianze reduced his holding of 10,000 shares and reduced his holdings by 488,000 yuan;
On May 12, the actual controller of the US group, He Xiangjian, reduced the number of 32,328,400 shares, accounting for 0.5% of the total share capital, totaling 1.121 billion yuan;
On May 15th, the boss's electric appliance executives reduced the total number of shares held by a total of 2,838,600 shares, a total of 108 million yuan; the senior executive Shen Pingping reduced the holdings of 5,800 shares, a total reduction of 243,600 yuan; the 16th supervisor Zhang Songsong Holding 133,500 shares, a total reduction of 4,752,300 yuan.
Do retail investors feel the deep malice from this world? This world has never been a smooth way after jumping out of a pit. Beware of pits and pits, ring loops, and winding around is a big Olympic ring.
Third, the "internal person" judgment
Shareholders of listed companies choose to reduce their holdings at this time because of the need for funds, or because the current reduction is the most favorable option for themselves.
However, the concentration of industrial capital in the home appliance industry is reduced, rather than the behavior of individual shareholders, which basically eliminates the possibility of urgently needing money. (Moreover, the demand for funds can pledge stocks, not necessarily to reduce the holdings), then there is only one reason for the reduction. Interpretation: The deterministic benefits of reducing holdings now are more attractive than the uncertain future!
After all, the two birds are not as good as a bird in the forest.
Then let's take a look at the current stock price:
On the same day that the founders of Midea Group reduced their shareholdings, that is, on May 12, the stock price of Midea Group hit a record high in the session. Since 2017, the stock price has risen by more than 30%;
Also on May 12th, Supor’s directors’ high-definition actions have not yet ended, and Supor’s share price has reached a record high in intraday trading. Since 2017, the stock price has risen by more than 40%;
On April 20 this year, Boss Electric Appliances hit a record high in the intraday trading. Since 2017, the stock price has risen by more than 55%. As of May 15, the increase is still 50%.
The stock price is high because there is an intrinsic reason, that is, people’s performance is really eye-catching.
In 2016, Midea Group achieved a net profit attributable to shareholders of listed companies of 146,843.57 million, an increase of 15.56% year-on-year, and net profit for the first quarter of 2017 increased by 11.40% year-on-year;
Supor’s net profit attributable to shareholders of listed companies was 107,751,200 yuan, a year-on-year increase of 21.21%, and net profit for the first quarter of 2017 increased by 33.16% year-on-year;
Boss's net profit attributable to shareholders of listed companies was 1,206,833,900 yuan, a year-on-year increase of 45.32%, and net profit for the first quarter of 2017 increased by 54.28%.
At the same time as the disclosure of the quarterly report, Supor and Boss Electric also predicted the performance of net profit in the first half of this year.
Supor’s net profit for the first half of the year is 471 million yuan to 612 million yuan, a year-on-year increase of 0% to 30%;
In the first half of the year, Boss Electric expects net profit: 507 million yuan to 592 million yuan, an increase of 20% to 40%.
Funds flocked to the White Horse stocks, one is the recognition of its performance - the theme stocks are already in the river; second, the optional quality stocks are too few. Have you ever remembered that the asset shortage that was passed down by people last year?
Moreover, the recent signs of institutional grouping are obvious, the index and the stock prices of most companies are squatting down, and these white horses are completely ignored. The family is thick and will make money. Everyone knows and likes it. The institutions get together and hedge the stock. The stock price is pushed up a little.
Although the white horses have always been excellent, but in the era when the routine was king, they have been left out in the corner for a long time. Nowadays, Dongguan has been cracked down. All the funds have suddenly remembered the old saying that the predecessors who brought their own trips often said, "I can't do it. I will find an honest man to marry and live well."
Suddenly this has become the focus of market attention and tracking. Will this feeling of being in a singularity be too enjoyable?
Therefore, shareholders who always feel that the color of their hats on their heads are not normal are chosen to take advantage of market recognition, high stock prices, and odd goods to be able to live, toss a stock, improve their lives, pay a down payment to the house, and report to the children. A key kindergarten.... After all, before the stock is exchanged for real money, the account is always just a number.
Of course, this is not to find reasons for shareholders to reduce their holdings. It is just a matter of thinking about why shareholders should think that they are better at reducing their current holdings and how they are not confident about future uncertainties.
Some "inner people" choose to reduce their holdings at this time. Perhaps it is the choice that the company is now at the high point of the industry and it is the most normal behavior in the market. It is absolutely understandable.
However, there is a deep meaning in this, and it is definitely worthwhile for us to try our best to figure it out.
Fourth, the organization began to abandon the abandonment?
The person who knows the listed company in addition to the inside of the listed company should be the institution that constantly researches. Since industrial capital has been reduced to flying, what is another wave of smart people doing?
Boss Electric's quarterly report shows that the company's third largest tradable shareholder, China Merchants Bank Co., Ltd. - Fuguo Low-carbon Environmental Hybrid Securities Investment Fund reduced its share of the company by 2,976,300 shares in the first quarter of this year. Another rich country fund rich country emerging industry stock-type securities investment fund The company reduced its holdings by 1.326 million shares, while QFII UBS Group reduced its holdings by 880,600 shares. The Norwegian Central Bank-free funds also withdrew from the company's top 10 tradable shareholders.
At the same time, the "national team" is also reducing the holding of the US group in the first quarter:
China Securities Finance Co., Ltd. reduced its shareholding in the company by 39,344,900 shares in a single quarter. In addition, Guotai Junan-CCB-Hong Kong and Shanghai Banking Corporation Limited also reduced its holdings of 26,301,100 shares, while UBS Group withdrew from the company's top ten tradable shareholders.
The institutions also made the choice of leaving the market. Do you think you should be aware of the millennium shareholders like Fengyunjun?
When the listed company's shareholders have intensive reductions, it may not immediately trigger a market reversal, but it may cause the consequences of the company's successive shipments, resulting in a short-term share price decline.
The reduction is a quantitative change. As for when it can trigger a qualitative change, we cannot guess it out of thin air. We take history as a guide.
Fifth, the king of industrial capital!
Since the start of the split share structure reform in 2005, industrial capital has gradually become active, and has gradually become an important indicator of the market and the existence of hanging days (of course, people's success is easy to understand and cannot be copied):
Along with the big bull market in 2007, the reduction of industrial capital was extremely fierce, and the net reduction in that year reached more than 90 billion;
Then there was a huge reduction in 2009, when the index ushered in a wave of rebounds, and the net reduction in industrial capital reached more than 80 billion;
In the next 2010 to 2013, the reduction in net reductions corresponds to the long-term downturn in the index;
In the second half of 2014, the bull market started, and the net reduction of industrial capital in the second half of the year reached 46.569 billion yuan;
In June 2015, the bull market ended, and the net reduction of industrial capital in the first half of 2015 reached 348.284 billion;
In the second half of the year, industrial capital showed a net increase in holdings.
From this point of view, industrial capital always withdraws from the process of rising index. When industrial capital begins to be intensively reduced, it may trigger index adjustment.
Although there is no obvious bubble in the White Horse stocks, it has been significantly improved compared with the historical valuation. The bubble of value stocks is precisely the most difficult to distinguish. Because value stocks have performance support and growth, even if there is a certain overestimation is reasonable, investors can accept it, and even this overestimation will be considered by the market as the result of the whole market tending toward rational value investment.
However, any overestimation will have a "ceiling".
Dear readers, if you think that analyzing an industry is too complicated, it is too difficult to see a company, and look at the market value--the first cheats to identify routines.
END
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