Chapter 138 Valuation Trap
Hearing Su Yu's words, Yang Hao's expression gradually became serious.
He had never thought about his problem before, but now... After Su Yu reminded him, he thought about it carefully and found that it was indeed the case. After he broke with his father, as one of the group's major shareholders, and after his mother's death, a group of old people who remained in the group rebelled against the uneven distribution of interests on the existing group's board of directors. He has indeed become a leader for some people. The biggest obstacle on the way to the pursuit of core interests.
"You once said
Su Yu paused for a while and continued: "Chen Qingnian of Leishen Security Company was a ruthless person when he made his fortune from the 1990s to the new century. For such a person... many bottom lines may be broken. , you have now publicly broken up with your father. I think in order to avoid any eventuality, you should pay more attention to your own safety.
"Thank you Brother Su for reminding me." Yang Hao pondered for a while and replied, "But if Chen Qingnian can really stand up and deal with me, I think... I will be very happy to see it. After all, this will really confirm My guess is that as the saying goes, 'If you don't enter the tiger's den, you won't get the tiger's cubs.' I am willing to take this risk."
Among Yang Hao's practical demands, his core goal demand is not actually the control of Kumho Group.
But to find out the truth behind his mother's death in a car accident, to avenge his dead mother and the people he loved, and to give them justice.
As for the group's disputes and the winning and losing at the shareholders' meeting, he didn't take it that seriously.
Of course, if we can follow his speculation
In order to force out the Chen family forces hiding behind his father and find out the truth of what happened back then, he would not mind using himself as bait to catch the big fish "Chen Qingnian".
"Okay!" Su Yu nodded slightly and said, "I've said everything that needs to be said. You just have to know exactly what to do."
"Yeah." Yang Hao nodded in response.
Afterwards, the two continued to chat for a while, and then dispersed after lunch.
By the time Su Yu returned to the company, it was already 1:32 pm. The three major indexes had resumed their upward trend today after the continuous correction and shrinkage in the previous few days.
"How?" Su Yu came to the trading day and asked Li Meng.
Li Meng saw him sitting down at the computer workstation next to him and said with a smile: "The upward trend of the index has continued the strong trend in the morning, and both the main board and the GEM index are all rising with heavy volume, and the various stocks that have pulled back in the early stage have continued to rise. Popular sectors and hot concepts are also rebounding sharply. It seems that the adjustment of the index should be over in the short term."
"And just as you guessed before
"For each stock we have established a position in, the maximum correction in this round is only about 20%. Three of them, such as Wangsu Technology, LeTV, and Fenda Technology, have been continuously attacked by market funds. The correction range in this round is all within 10%. Within %, now... these stocks are almost reaching their previous highs.
"It seems that institutional funds are accelerating the flow of core constituent stocks that are expected to be good in the future of GEM, and the trend has not stopped." Su Yu listened to Li Meng's report, hurriedly turned on the computer, switched the interface to the stock market trading conditions, and continued with a smile. , "What about the future 'Shanghai Free Trade Zone' concept stocks that we want to build a position in? Is there any news recently?'
Li Meng replied: "No, Lujiazui, Shanghai Materials Trading, Shanghai-Hong Kong Group, Pudong Jinqiao, Jinjiang Investment...these 'Shanghai Free Trade Zone' related concept stocks we formulated are almost the same time since our first investment. It has been a week, but in the entire market, except for the traces of our capital intervention, basically... no other main funds have been found. Mr. Su... Regarding this news...
Li Meng kept thinking in his mind.
Regarding the major strategic news about the country's macroeconomic layout of the "Shanghai Free Trade Zone", small private equity institutions like them can get some rumors in advance, so... all the institutions in the country must have received it. With such rumors, big financial institutions will naturally make the same layout and choices as them.
But now...the development of things doesn't seem to be like this.
They have been involved for a week, but all the main funds in the entire market have not shown any trace of attention or involvement in the main line of 'Shanghai Free Trade Zone'
This made Li Meng seriously doubt that the news Su Yu got was a pure rumor.
"It's okay, just wait patiently." Su Yu said, "We are still half a month away from August. Whether the news is true or false will become clearer when the time comes to fulfill it. Now... .Don’t worry, just continue to implement the investment strategy we originally formulated.
"Okay!" Li Meng didn't say anything when he saw Su Yu insisting.
"Have the positions of each stock been completed now?" Su Yu stared at Waigaoqiao, who was still following the fluctuations of the index, and continued to ask.
Li Meng replied: "The three checks of Lujiazui, Shanghai Materials Trading, and Shanghai-Hong Kong Group have established positions of 50 million each. Pudong Jinqiao and Jinjiang Investment have established positions of 30 million each, adding a total of 210 million new positions. , excluding your newly established positions, the overall position line of the fund is already close to full position."
"Okay!" Su Yu replied, "I won't rush to add more to the remaining funds."
"Yeah." Li Meng responded, staring closely at the market and doing intraday trading operations, and no longer continued to increase his position in "Shanghai Free Trade Zone" related concept stocks.
Su Yu set his sights on three stocks: Shanghai Steel Union, Jincheng Fenjiu, and Waigaoqiao.
I looked at the three stocks in my account, with a total position of 120 million, and the remaining cash of more than 30 million, but there was no action.
He is waiting for a new market opportunity to appear.
Then he used the position chips in his hand to launch a sniper attack on the main positions of Jingda Investment, a private equity institution.
In his patient waiting and observation.
Closing at three o'clock in the afternoon, the Shanghai Stock Index finally returned to the 2030 point mark, while the GEM Index rose again by more than 3%, returning to 1100 points. Among them, Internet Speed Technology, Fenda Technology, LeTV, Oriental Fortune... .. and many other core component stocks have soared by more than 5%, and several stocks have reached new highs in the early rebound, setting new records.
Among the stocks that Su Yu pays attention to
After going out of the sky, Shanghai Steel Union encountered two consecutive lower limits. After several days of sluggish adjustments, it finally avenged its shame today and reached the daily limit, closing at 21.73 yuan; Jincheng Fenjiu stock price closed at 13.36 yuan, an increase of 2.13 %, which is similar to the increase of the Shanghai Stock Index. The trading volume is still sluggish, and the intraday turnover is only more than 70 million. The Waigaoqiao stock price closed at 13.15 yuan, and the increase is similar to that of the Shanghai Index. It has no independent trend, and the intraday turnover is also sluggish. There are no traces of other major capital attacks.
After the market closes, at 5 p.m.
Before the announcement of the new Dragon and Tiger list, Su Yu paid attention to Jincheng Fenjiu, and held a position of more than 40 million yuan, and released its semi-annual performance report. According to the report, the company's performance dropped when the entire liquor industry encountered a 'plasticizer' crisis. There was a certain decline compared with the previous year, but the company also stated in the report that this impact is temporary. In the second half of the year, after the 'plasticizer' crisis subsides, the performance will definitely improve.
Facing such a report...Su Yu felt happy inside.
Of course, his joy was not that Jincheng Fenjiu's fundamentals had improved and that the stock price was expected to reverse, but that this not-so-bad report was enough to make Jingda Investment, which had a heavy position in it, feel happy. There is little hope that he will not be forced to liquidate his position, which will be more conducive for him to use this stock to snipe the private equity institution Jingda Investment.
After more than half a year of decline following the ‘plasticizer’ crisis.
In fact, the valuation of the entire liquor sector is already quite low. For example, Qianzhou Moutai, the leading stock in the liquor sector, has fallen within 15 times of its PE. And based on last year's profits and dividends, even if profits do not grow, the dividend rate It is already greater than 5%, which can be described as underestimated.
But Su Yu knew that when market expectations, that is, the fundamentals of the industry completely changed and deteriorated.
In fact, undervaluation of stock prices is a valuation trap.
He knows that in the future, with the further tightening of "three public consumption", with the widespread implementation of "drunk driving", and with the impact of the "plasticizer" crisis, the performance of the liquor sector will continue to be under pressure, and Due to the subconscious avoidance of the entire market funds for the liquor sector, the current valuation of the liquor sector, which is generally 15 times PE, will continue to be compressed, and even many third-, fourth-, and fifth-tier liquor brands have suffered a series of losses and entered ST's delisting edge.
Under this expected future situation
The liquor consumption sector that currently seems to be severely undervalued, no matter how excellent its current performance is, is a complete investment trap.
After the release of Jincheng Fenjiu's semi-annual report results, in the discussion of the entire market, the main fund core managers of Jingda Investment, which has a heavy position in this stock, also had a wave of relatively intense discussions.
In the end, everyone came to a consensus.
He said that the valuation of Jincheng Fenjiu has dropped to 12 times PE, and the profitability is not bad. When the impact of the 'plasticizer' crisis is slowly dissipating, the stock price has no room to fall, so he decided to continue to hold the position. , waiting for the simultaneous reversal of performance and stock price.
Two hours after Jincheng Fenjiu announced its half-year results report, it was 7 p.m.
Amidst the heated discussions about the doubling of performance of Wangsu Technology, Fenda Technology, Huaqingbao, and Changqu Technology, and the promising future, stocks such as Waigaoqiao, Shanghai-Hong Kong Group, and Shanghai Steel Union also released half-year reports. Report performance.
It's just different from the beautiful financial reports of Wangsu Technology, Fenda Technology, Huaqingbao, and Changqu Technology.
The semi-annual report results of Waigaoqiao, Shanghai-Hong Kong Group, and Shanghai Steel Federation were terrible, with a significant decline compared with last year.
Of course, here, it is the financial report of Shanghai Steel Federation, which is discussed with the most enthusiasm and passion. After all, this check has been repeatedly speculated by hot money in the market for the past month and a half. The trend is either rising or falling. Compared with the lowest point in May, It has increased by almost 1.5 times, and its popularity and popularity are extremely high.
