Chapter 536 [People abandon me and take it]

Both stocks are off record lows because of recent troubles.

Yangtze Power held an extraordinary general meeting of shareholders in mid-September last month, and passed the plan to acquire six units of underground power stations under the major shareholder Three Gorges Corporation.

According to the plan, Yangtze Power will cost 12 billion yuan, and after it is put into operation, it will realize a net profit of 960,000 yuan per year, increasing earnings per share by 0.0058 cents.

As soon as this acquisition plan came out, it triggered a strong reaction from the market.

On the one hand, brokerage institutions believe that the acquisition can bring out the synergistic benefits of Yangtze Power, and have increased their holdings and recommended ratings for Gaidao.

But on the other hand, small and medium-sized shareholders are extremely dissatisfied. Before the acquisition plan was exposed, almost no one thought that the final purchase price of this asset with an average annual power generation capacity of 3.511 billion KWh after it was put into production, corresponding to a profit of only 960,000 yuan, would be unexpectedly It requires a sky-high price of 12 billion yuan, and what is paid is real money.

Regardless of using the cost method or the income method to estimate, more than 80% of the high premium acquisitions are obtained. Faced with such a result, stockholders exclaimed incomprehensibly, why can they judge a premium of more than 80%?

It is conceivable that small and medium investors must be extremely dissatisfied with this, thinking that the high premium has harmed Yangtze Power and their own interests.

Some stockholders even bluntly stated in the stock bar comment area of ​​the stock that such a large amount of generosity is obviously a straightforward transfer of benefits. Because the purchase price is too high, but the room for profit growth is limited, shareholders believe that it involves benefit transmission.

And institutional investors are also running around in various ways. From June 30, 2009, 113 institutions held shares in Yangtze Power, with a total of 847 million shares, accounting for 17.25% of the outstanding shares. However, as of the second quarter of this year, According to the data from the website, the number of institutional holdings has dropped to 91, holding 480 million shares, accounting for 6.51% of the outstanding shares. Within two years, the number of institutional holdings has dropped by 60%.

The performance of Yangtze Power's stock price in the secondary market is quite ugly, and it keeps falling. For this reason, the major shareholders have to increase their holdings to protect the market, so as to prevent the stock price from plummeting and selling at a low price. They don't want the stock price to be too low, but its trend performance is not satisfactory. As expected.

The continuous increase of major shareholders' holdings does not mean that the stock price will improve in the short term. It only means that the major shareholders believe that the company's stock price is lower than the company's actual value, and the performance of its secondary market is not good. On the one hand, the stock market itself is very poor. The precipitation in the third quarter of this year was also very poor. On the other hand, the state also issued a document on the Three Gorges, emphasizing the impact of water conservancy on the ecological environment.

However, other institutions are running away, but Qunxing Capital has come up with an operation of "people abandon me and take it". Recently, it has bought five times through bidding, and increased its holdings to 558 million shares at an average price of 6.32 yuan per share. A total of more than 3.5 billion yuan has been spent on increasing holdings so far.

The current number of shares held by Qunxing Capital has exceeded the total shareholding scale of the other 91 institutions. The number of 558 million shares accounted for 7.59% of the outstanding shares, or 3.38% of the total share capital, and will continue to increase hold.

Now that the third quarterly report has begun, although the stock price of Yangtze Power is weak, the performance of this year is only unsatisfactory. The quarterly flood season has the greatest impact on the annual performance, and the poor water flow during the third quarter of this year has had a greater impact on the performance of Yangtze Power.

But these are not problems. Qunxing Capital now has a lot of cash flow in its hands. How to spend it is also worrying. This stock has fallen to the bottom of history and cannot continue to fall, because the major shareholders are doing their best to support it, and Qunxing Capital is also actively following up. , holding assets to preserve and increase their value.

Relatively speaking, the performance of Yangtze Power is not bad. Compared with Biyadi stock, it is really terrible. It highlights that there is no harm without comparison. The market value of Biyadi has dropped from a high point. It has evaporated by more than -85%. It landed in the A-share market on June 30 this year, and it has only been about three months since it was listed on the big A.

In the initial stage of listing, it went out of Wulianyang, and the stock price soared to 35.55 yuan, nearly double the issue price.

But today, the stock went further to a new low of 17.40 yuan. Although the closing turned up +3.16%, the stock price was locked at 18.60 yuan, closing above the issue price, but fell from the high point in the three months since listing. The trend of cutting in half still makes many investors shudder.

The market value of Biyadi has evaporated by more than 40 billion yuan. At the beginning of the month, the ban on 15 million institutional allotment shares was lifted. However, judging from the current closing price, funds and insurance funds can be described as a waste of work.

According to the data, the 15 million restricted shares are currently held by 11 institutional investors, including the self-operated market of Guodu Securities, 5 insurance products of Kangtai Life Insurance and the enterprise annuity plan of CCB, Xingquan Trend Investment, Xingquan Convertible Debt and Xingquan organic growth three public offering funds.

Biyadi landed on the A-share market, but Qunxingzi did not intervene in A-shares, but intervened in H-shares like last time. The last time it was the first time to intervene in the stock during the first quarter of 2009, but at the time it was only bought 100 million shares, not crossing the sign line, and the average share price is around HK$15.

The last time the shareholding did not exceed the 5% mark line standard, it was because he had to run away. Fang Hong knew that this stock would collapse this year, and in the round of the market in 2009, Biyadi’s stock price rushed above 88 yuan Qunxing Capital retreated above the 80-month price and made 4.5 times as much, taking away billions of profits and retreating gorgeously.

Shareholders also sparked heated discussions. During Biyadi’s bull market in full swing in 2009, Warren Buffett, the stock god, bought Biyadi at a price of HK$8 per share in September 2008. Di 225 million shares, and then the stock price soared to 88 yuan in one breath, a tenfold increase. Investors said that Buffett is worthy of being a stock god.

At present, the stock price of Biyadi has evaporated by more than -85%. It has risen ten times before, and Buffett has not held the shares. Investors have said that Buffett is old and confused!

However, according to the trend of Fang Hong's previous life, when Biyadi's stock price rose to 80 yuan again, Buffett continued to hold the stock. Investors said that Buffett was indeed a stock god. If he didn't move, investors called Buffett out of his mind.

Ten years later, the stock price of Biyadi rose to more than 270 yuan. Investors said that Buffett was really a stock god. He decisively bought and shouted value investment, and said that Buffett knows how to buy bank stocks, but he doesn't understand new energy at all.

But at the moment, after Biyadi’s share price plummeted, stockholders, on the one hand, DISS Buffett was confused, but at the same time, more and more respected Qunxing Capital, which was able to escape the top with precision, all said that Qunxing Capital was the god of investment, because Qunxing Capital was successfully established in Biyadi. Di evacuated above the price of 80 yuan, making a lot of money.

It is precisely because of this series of strong achievements that the recent news that Qunxing Capital entered the A-share market has triggered a large number of investors to follow up, and their confidence has increased a lot.

...

The next morning, around 8:00, the pre-market information in the capital market was swiped by a message. This news was impressively that Qunxing Capital was holding a sign of Biyadi, and the number of H shares held by it reached 118 million shares.

Moreover, Qunxing Capital's announcement stated that in the next 12 months, it will still choose an opportunity to increase its holdings of the stock.

All major market softwares are also pushing this news, and the attention of stockholders on this stock has skyrocketed.

Qunxing Capital made billions in Biyadi last time, and now it is back. Now everyone firmly believes that Biyadi’s stock price has really bottomed out, because it has evaporated more than -85% from its historical high. The market value and valuation are definitely not high, and the A shares have just broken in the past two days.

The most important thing is that this time Qunxing Capital intervened again and raised a placard, which was not the case last time.

Some people involved in the stock yesterday were ecstatic.

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