Chapter 1314 [Voluntarily delisting from the main board and wanting to relist on the SGX? ]

After the New Securities 50 Index bottomed out at 2,600 points, Fang Hong decided to launch a round of index-level market, which would start right after the New Year's Day.

However, it was impossible and impossible to openly state one's intentions. If one did, the entire market would go completely crazy, and the New Securities 50 Index would even top out the market.

So one could only do it silently, and never speak it out, leaving all the players in this market to gamble and judge for themselves.

Entering mid-to-late December, the New Securities 50 Index began to fluctuate upward in the last dozen trading days of the year, and the K-line chart that emerged was also a correction for one or two days, followed by a positive line to reverse and repair, and broke through the high point during the correction.

On Tuesday, December 26, the New Securities 50 Index reversed and repaired again and broke through the high point of the previous trading day. It closed with a positive line that rose by +2.24% that day, reporting 2,837.01 points, once again standing above the 2,800-point mark, and the total daily trading volume of the SGX market also increased to 454.6 billion.

On Wednesday, the index fell again, closing down -1.21% after the market, barely holding 2800 points.

The next day, Thursday, was the penultimate trading day of 2017. As most investors expected, the Xinzheng 50 Index directly reversed and broke through yesterday's high, closing up +2.16% on the day, at 2863.28 points.

On Friday, December 29, the last trading day of 2017 arrived as scheduled.

Today, the result of the Xinzheng 50 Index call auction was a slight opening of +0.25%, and then it fell back after the opening. In these few trading days, many investors have been doing T operations, especially some short-term funds.

Because the trend of the Xinzheng 50 Index in the past half month is very regular, and even the simple "five-day line" strategy is perfect. Buy when it falls back to the five-day average price line, sell at the end of the day after the rebound, and wait for a correction, and then buy it back when it falls back to the five-day average price line again.

Many people have made a lot of money just by using the "five-day line strategy" to trade back and forth on the New Certificate 50 ETF, earning 10 to 12 percentage points of profit, while the New Certificate 50 Index has increased by about 6 percentage points, significantly outperforming the index.

Today, many short-term funds and people who do T operations still follow the previous path and sell, because according to the previous rules, there will definitely be a correction today, and the market will be closed tomorrow, which makes people more convinced that there will be a correction today.

So many people choose to sell, and the New Certificate 50 Index also opened high and went low. It turned green within 15 minutes of opening, and the decline widened to -0.56% around 10 o'clock, but it was also the official bottom when it fell to this point.

At around 14:30 in the afternoon, the situation was different. The market trend was beyond the expectations of most people. Today's New Certificate 50 Index did not follow the script expected by the market.

The mysterious main force took action in the last half hour of the closing, and it was a heavy blow. It took less than five minutes to lift the Xinzheng 50 Index from underwater to above the red zone, and began to force a short squeeze.

"What the hell? Is there any new good news?"

Many stockholders were surprised to see the strong rise in the closing, and the one-way attack without a retracement. Most people subconsciously thought that there was a major good news, so they looked for information in various ways.

But there was no sudden good news, and the news was very calm.

At this moment, the Xinzheng 50 Index still maintained a continuous upward trend, and the trading volume was significantly enlarged. The increase has expanded to 1 percentage point. Some of the funds that chose to sell for profit in the early trading were forced to sell low and buy high.

However, most people who did T operations back and forth during this period still missed the opportunity, because the path dependence and the late rise made them cautious, and the last trading time in the late trading did not give them too much time to think about the trade-offs.

After hesitating for a while, the price went up again, so they didn't want to chase the price higher. They made a lot of money from the previous T operation arbitrage and had path dependence. They didn't want to chase the price higher. They thought it was likely to fall back later. It would be better to wait for the price to fall back and then buy it back. In addition, some news during the holidays made them more determined.

Hesitating here and there, even if they finally decided to chase the price higher, the market had closed and they couldn't buy it even if they wanted to.

Time quickly moved to 15 o'clock, and the market officially closed, the last trading day of 2017 ended. The SGX 50 Index regained the 2900-point mark again, and closed up +1.56% after the market, at 2907.91 points.

The turnover of the SGX market increased to 538.3 billion throughout the day, while the turnover of the Shanghai and Shenzhen stock markets totaled 365.9 billion. The turnover of the SGX exceeded the sum of the Shanghai and Shenzhen stock markets, and it also had an additional turnover of the Shanghai stock market. Today, the turnover of the Shanghai stock market was only about 170 billion.

From the K-line chart, the New Securities 50 Index has a bald positive line today, and the closing price is the highest price of the day.

The majority of stock investors also worship the performance of the New Securities 50 Index in the last month, and of course they are super satisfied. After the closing of the last trading day at the end of the year, the New Securities 50 Index returned to 2900 points, close to the historical high of 2943.93.

The decline last month has basically been recovered. It has risen from the bottom of 2601.99 points, with a cumulative increase of +11.75%, leading the Shanghai main board index to rise by more than 10 percentage points. During the same period, the Shanghai stock index's range increase was only about 1 percentage point, basically The above is in a sideways state.

The Shanghai Composite Index fell from 3450 points last month to 3250 points, and today it closed at just above 3300 points. A comparison shows which one is stronger and which one is weaker.

…

Meditation in the villa.

"A surprising thing happened today. A small and medium-cap stock listed on the GEM wanted to delist from the main board and then transfer to the SGX market for re-listing." Tian Jiayi, who came back from get off work at the company, found Fang Hong at this moment , and reported the matter to him immediately.

When Fang Hong heard this, he was immediately surprised and couldn't help but said, "Is there such a thing?"

Tian Jiayi nodded affirmatively and handed him a document: "This is the detailed information about the company that has been compiled."

It is rare for listed companies to voluntarily delist in the A-share market. So far, only one listed company has voluntarily delisted, namely ST Erzhong, which delisted in 2014.

But strictly speaking, it was a helpless move. This company was already facing forced delisting and it was certain, because after going public in early 2010, its performance changed and it suffered losses for four consecutive years.

I had to retreat even if I didn’t want to, so I took the initiative to retreat.

Fang Hong took the material from the beautiful assistant and read it. This company, which has been listed on the main board for three years, wants to take the initiative to delist and re-list on the SGX. The company is a private enterprise, and its latest market capitalization as of today’s closing is to 10.9 billion.

The data shows that this company currently has no problems, its fundamentals are good, and it has growth potential. The company's operations are also very good, and its prospects are very good.

However, the stock price fell miserably. During the bull market in the first half of 2015, the company's market capitalization once soared to 69.7 billion, and then it was cut in half unexpectedly during the catastrophic market.

If the halving of the market capitalization from nearly 70 billion is the puncture of the bubble that was blown up by the previous bull market, and the nearly -40% plunge in the 2016 meltdown is further mean reversion, then this year it has halved again from 22.7 billion to the current 109 Hundreds of millions were killed by mistake.

Fang Hong looked at the materials and said to himself: "The valuation of 30 billion yuan for this target is not an overestimation. The current valuation of more than 100 billion yuan is a serious underestimate."

Tian Jiayi immediately said: "Actually, there are more than one small and medium-cap stocks that have been wrongly killed, but the current market environment is like this. When retail investors move to the SGX, they also abandon all the small and medium-cap stocks on the main boards of the two cities, resulting in small and medium-sized stocks. Liquidity has dried up, and if companies want to refinance, they can’t even think about it without some weird ideas.”

Nowadays, the small and medium-sized enterprises next door are really miserable. Regardless of whether they are really good companies or junk stocks, they all have one word: fall!

There is no increase in liquidity, and the stock is still escaping. Anyone who dares to take the initiative to rise will just send money, because they will be smashed and no one knows them, so no one dares to rise at all. A few people who do not believe in evil will be trapped to death in the end. , the result was that I had to kneel down and admit my mistake and cut my flesh.

…