Chapter 721 [Star Capital 2013 Annual Report]

The opening ceremony of WCG2014 was a great success, far exceeding the expectations of all e-sports players and practitioners, and became a hot spot on the Internet on the next Monday.

An opening ceremony has largely established the unshakable status of the event as the top international e-sports event, especially in the hearts of e-sports players and practitioners.

From now on, in people's minds, the WCG event will undoubtedly further strengthen the concept of "the Olympics in e-sports" in people's minds.

After all, no e-sports event can produce such a large scale and such a high standard, even many traditional sports do not have such a standard.

Similarly, the opening of the A-share market on Monday also ushered in a sharp rise. The stock indexes of the Shanghai and Shenzhen stock markets jumped in early trading and showed a unilateral rise in the intraday session. In the intraday session, the historical high point was refreshed again, the themes of various sectors showed a general rise, individual stocks staged a daily limit tide, and the trading volume of the two cities was also significantly enlarged.

The surge in the A-share market today was mainly due to the positive stimulus of weekends and weekends. Yangma is expected to greatly increase the investment in the public market. The industry expects that this year's monetary policies will be relatively active in response to the tightening of liquidity. It will increase, which will be a major positive for the A-share market.

This is the core driving force for today's strong rebound. In addition, the meeting will be held soon, and the surge in the external market has also formed a positive resonance effect on the big A.

Judging from the market, theme stocks are competing to dance, and the new energy vehicle sector has become the biggest hot topic of market speculation, because the current policy of new energy vehicle subsidies and promotion will continue to stimulate the collective surge in real time after the expiration of the current subsidy and promotion policy, and also lead the theme of lithium battery. Stocks soared in heavy volume, and the market's willingness to do more was very strong.

In terms of individual stocks, Kunpeng Technology was affected by the opening ceremony of WCG2014 yesterday, and today it also gapped and closed with a big positive line, but it did not have a daily limit, and finally closed up +8.79%.

Quantitative Capital, after the one-word daily limit and anti-package last Friday, today once again achieved a one-word daily limit to enter the second board. The stock price hit a new high during the year, reaching a price of 146.60 yuan, and the cumulative increase from 50.65 points reached +189.43%. , the market value has risen to 204.9 billion, once again returning to the threshold of 200 billion market value.

Last year, the company was interrupted by the "black swan" sanction imposed by Laomei due to the sudden "black swan" incident. -80%, can be described as tragic.

One of the key points of the recent double-up is that investors are gradually no longer valuing quantitative capital as a diversified financial stock, but valuing it as a high-tech stock.

The given price-earnings ratio must be far higher than that of diversified finance.

Moreover, the recent layout of quantitative capital, whether it is in the search market or webcast, investors were not optimistic about Chen Yu's entry into these tracks.

However, the recent performance has made investors' eyes bright and gradually changed. The performance of entering these tracks has far exceeded the market's expectations, especially the track of the webcast platform, which has made its debut and reached its peak. Lingke TV directly became the No. 1 in China. A big live streaming platform.

These layouts have brought new growth points to quantitative capital, and have also made the capital market look forward to it.

There is also the artificial intelligence "Student Xiao Ling" is also remarkable, all explaining that this company not only has vision but also has technical skills.

All in all, this company has a lot of stories anyway, and a lot of concepts to hype.

...

The following day, Tuesday 11 February.

The rebound in the A-share market continued. The Shanghai stock index went out of Sanlianyang, closing up +0.84% ​​on the day, closing at 2103.67 points, and standing on the 2100 point mark.

Quantitative Capital’s performance today is that the price of one-word price limit went out of three consecutive one-word boards, but the board exploded in the market, but it also achieved back-sealing, and finally the third board went out of the “T” board, releasing 4.254 billion in the whole day The trading volume was strong, and the stock price also rushed to a new high of 161.26 yuan. Since the reversal of the difficulties, the cumulative increase has been +218.38%, and the market value has risen to 225.4 billion yuan.

If you open the K-line chart trend of this stock, you will find that its trend fluctuates very violently. Basically, there are big ups and downs.

However, the overall trend of quantitative capital, its center of gravity is constantly too high, along a rough slope upward.

This is actually the result that Fang Hong asked for his partners who are doing market value management. He doesn't care about the specific trend fluctuations, but he must ensure the overall upward trend. The market trend is that the bubble blows up quickly, and then it is punctured and returns to the mean. , and then start up again.

...

In the afternoon, stay in the villa quietly.

"The 2013 financial report of Qunxing Capital has been audited." Tian Jiayi looked at the material report in his hand and reported in an orderly manner: "The company's annual revenue last year was 2,198.926 billion yuan, a year-on-year increase of 31.51%, and its net profit was 775.217 billion yuan, a year-on-year increase of +40.58%. The absolute number of revenue and profit continued to rise, but the growth rate slowed down again by about 10 percentage points."

As Tian Jiayi said, he handed the financial report document to Fang Hong, who took it over and looked at the data in detail.

The growth rate has slowed down for two consecutive years, and the doubling of the growth rate in 2011 is likely to be difficult to break through, unless human civilization can break through the shackles of the earth and extend to the moon, Mars, and even the entire solar system, bringing unprecedented expansion and growth.

Just think about it in a short-term dream.

However, the slowdown in the growth rate was in line with Fang Hong's expectations. Qunxing Capital's revenue base was too large to maintain exponential growth forever.

Although the growth rate of revenue slowed down last year, it broke through the 2 trillion revenue scale for the first time, and still has a year-on-year growth rate of more than 30 percentage points. Under the trillion-level base, it is still quite exaggerated.

According to financial report data, the company's total assets at the end of 2013 were 5,138.223 billion yuan, a year-on-year increase of +26.71%; net assets were 4,766.733 billion yuan, a year-on-year increase of +27.01%. 100 million yuan, a net increase of 69.6 billion yuan in liabilities compared with the previous year.

The increase in liabilities of nearly 70 billion is a big deal for other companies.

But for Qunxing Capital’s current asset volume of 5 trillion yuan, even a fraction is not counted, because the base is too large. Even though the net debt has increased by nearly 70 billion yuan, the overall debt ratio is still down year-on-year, because the assets are absolutely The numbers soared too sharply.

Tian Jiayi saw that Fang Hong closed the materials, and immediately said: "The executives of the company feel that we can start the IPO of WeChat."

Hearing this, Fang Hong gave up shaking his head and said, "No, it will be listed next year, so don't worry about it this year."

If you want to get into the big A this year, the IPO plan can be realized in the second half of the year, but Fang Hong has his own strategic considerations, and he can't clearly say that 2015 will usher in an epic leveraged bull market.

The reason why we decided to list WeChat in 2015 is to respond to the call for rescue when the stock market crashes later. The rescue funds of Qunxing Capital are mainly to go in to pull in the individual stocks of Qunxing Galaxy.

With a valuation of hundreds of billions of market value like WeChat, proper super large-cap stocks and heavyweight stocks, the contribution to the index of a single daily limit is worth dozens of small-ticket daily limits.

The most important thing is that large-scale capital flows into other junk stocks, and it will be a problem to get out at that time, and the country's call to rescue Qunxing Capital must not fail to respond.

However, Qianglaqun Galaxy’s listed subsidiary no longer has this concern, and responded to the call for rescue.

Not only did Fang Hong want WeChat to go public in 2015, but he also planned to go public on the A-share market at the end of May, a few days before the market index was close to peaking. When the stock market plummets and responds to the call for rescue, the rescue funds will have more places to go .

...