A New "Cash Cow" For A Shares: "Artificial Cow" And "Turbulent Concept Bubble"

When the 2019 gradually entered the countdown, although the overall weakness of the market, but sometimes reveal the crazy capital.

For example, the cumulative increase of 300782.SZ has reached an alarming 637%.

Behind the crazie is the promotion of all kinds of concepts. Even with the "super expected" performance of Zhuo Sheng micro, it is inseparable from the "HUAWEI concept" blessing.

Not to mention that this year has been rubbing the "artificial cow" of hot spots such as "industrial hemp", "artificial meat", "5G" and "HUAWEI".

On the one hand, the share price takes off while the shareholders quietly cash in.

According to the twenty-first Century economic report reporter statistics, the best technology industry in the current market has also become a "concentration camp" for shareholders since this year, riding the "HUAWEI" and "5G".

The secret behind a list

By October 16th, the top ten of this year's cumulative gains were Zhuo Sheng Wei, Xingqi eye drops, Kanglong formation, triangle defense, Ruida futures, Jinyi technology, Baoding technology, Wan Ji technology, Zhongqian shares, Nanhua futures and so on.

Among them, the highest increase reached 637%, and the lowest increase was 320%.

Excluding new stocks listed this year, Xingqi eye drops, Jinyi technology and Baoding technology have become the "three giants" that will lead the current market. The increase is as high as 436.4%, 361.8% and 359% respectively.

Coincidentally, the stock price skyrocketed at the same time, is the stock market's successive reduction plan.

From April 12th to July 29th this year, the total investment of Xingqi ophthalmic drug shareholders has been reduced to 2.7243% of the total 2 million 245 thousand and 600 shares of the company, and the total amount of cash has been 116 million yuan.

In September 11th, the deadline for Tong's investment in the above reduction plan has just expired, and it has been substantially reduced again. Tung's investment will be reduced in 6 months by block trading and concentrated bidding, which will not exceed 4 million 945 thousand and 800 of the total share capital of Xingqi eye drops, 6%.

This is a huge amount of cash reduction plan. According to the closing price of Xingqi eye drops in September 11th, 83.9 yuan / share is estimated. The amount of Tung's investment in this plan is as high as 415 million yuan.

Coincidentally, Jinyi technology's reduction plan is also non-stop.

From February 28th to August 27th this year, the important shareholder of the company invested and invested 1 million 359 thousand shares in total. In September 4th, the investment was expected to be reduced by 216 thousand shares again. In September 23rd, the Cai Fuchun announcement of the executive officer had been reduced by 350 thousand shares, and 150 thousand shares were on the way; in October 9th, Pu investment was intended to reduce 67 thousand shares again. The total cash in scale is nearly 100 million yuan.

As of October 16th, Baoding technology's shareholders invested 4 million 732 thousand shares in round tripod and cash in about 39 million 987 thousand and 300 yuan.

However, it is worth noting that, combined with the trend of stock prices, Baoding technology shares began to take off in early September, while the investment and sale of round tripod were sold before September.

A shareholders are never the case.

According to the twenty-first Century economic report reporter statistics, this year, stocks rose by more than 100% (excluding new shares listed this year). There are 149 A share listed companies, of which 88 are being completed or completed, and only 3 have completed their holdings.

In the 88 reduction companies, the first place to reduce market capitalization is 603882.SH, which collects about 83 million 658 thousand and 700 shares and cash in about 2 billion 850 million yuan. The amount of cash in 603160.SH is second, a total reduction of 22 million 820 thousand shares, and the market capitalization is about 2 billion 740 million yuan. The two share price rose by 173% and 147% respectively.

Jinyu medicine focuses on the third party medical examination and pathological diagnosis business. More than half of the top ten shareholders are equity investment institutions.

And as the company's share price soared, these institutions made profits. Tianjin junruiqi equity investment partnership, Beijing Junlian Maulin equity investment partnership, Kaibo Yu first phase equity investment partnership, and Kaiyuan Kaiyuan equity investment fund and other ten major shareholders all appear in the reduction list.

Who is making the concept?

The exclusive information of a drawer agreement found in the twenty-first Century economic report shows that a major shareholder and a fixed shareholder of a listed company have a bet price of about 15 yuan, and before the lifting of the ban, the stock price has fallen to 50% of the gambling price.

In accordance with the implementation of the gambling agreement, the major shareholders will face billions of claims.

What is bizarre is that the company eventually doubled and doubled. After the lifting of the ban, there was a signal that institutional funds were sold.

Capital markets never lack stories, but stories are buried behind data.

According to the twenty-first Century economic report reporter statistics, from the perspective of the market value of the reduction, the first place is the Kang Ming Kang, which has reduced the scale to 11 billion 800 million yuan this year, followed by the Xingye Bank, the reduction scale is about 9 billion 200 million yuan, and the third is Vanke A, with a reduction scale of about 6 billion 900 million yuan.

From the perspective of industry distribution, the top 50 companies are 11 in the computer industry, 7 in the medical industry, 2 in the software industry, and 2 in the Internet industry.

The typical technology, such as Hui Ding technology, is a domestic fingerprint supplier under the head screen, with a cumulative increase of 147% and a total reduction of about 2 billion 740 million yuan.

In 8 and September this year, huiding technology's stock price once reached more than 200 yuan, and a large number of shareholders also entered the peak period of reduction. Stock Eastern Jining Huixin, Fu Ying assets, sinofasia international and executives Zhu Xinghuo and Zhang Fanjun concentrated in the two months.

Wen Tai technology is the largest mobile phone ODM company in China. Its main business is R & D and manufacturing of mobile terminals, intelligent hardware and other products, and actively layout 5G. With the easterly wind of 5G, the stock price of Wen Tai technology has risen to 238%, and the reduction scale is also at the forefront. Its market value is about 550 million yuan.

In addition, this year's most popular "PCB" industry leader, Shanghai Electric shares, Shennan circuit and Sheng Yi technology, has also joined the reduction army. Three major shareholders of listed companies have reduced 125 thousand and 400 shares, 2 million 883 thousand and 300 shares and 227 thousand shares since July.

It is not hard to find that many large holdings of stocks are concentrated in the technology industry, which is affected by the acceleration of 5G business and the revival of the relevant industrial chain. These technology stocks are losing their "concentration camps" while constantly taking the bull.

"In fact, we predicted that 5G will be a hot topic of investment throughout the year from the beginning of the year. To be honest, although some of the industry has fulfilled its performance as a substitute for domestic products, most of them still cannot get away from the concept of speculation." A communications industry analyst admitted to reporters.

From the Institutional Research Report, the search engine based on 5G shows 3529 copies, with HUAWEI as the key word and shows 891 copies. This shows that the role played by institutions in the current 5G and related industry chain's rising market.

Another more intuitive data is that the list shows that venture capital and institutions are deeply involved in these stocks. According to Wen Tai Technology September 4th billboard data, the top five among the top buyers are Jianping seats, CITIC Securities, Hangzhou Road, Yanan, buying 60 million 518 thousand and 400 yuan, "buying stocks" seats - Huaxin securities Shanghai song Bin Road to buy 31 million 545 thousand and 500 yuan, while 4 of the first five sales outlets sold.

"With the early favorable factors gradually landing, the market has entered a state of good cash, when the market is better, it is very normal to bag for safety. The earlier billboard figures show that agencies may have bought early. A private person in Shanghai pointed out that "the current round of technology stocks, the characteristics of the organization is obvious, while studying and advocating, and profits after the withdrawal."

Watch out for valuation bubbles

In addition to 5G, this year's concept of "long cow", almost the same period, A shares also had the carnival of ETC plate, pork culture and liquor plate. The typical stock price surging is Jinyi technology, Zheng bang technology, modern margin and Luzhou Laojiao. The cumulative increase has reached 362%, 182%, 126% and 115% respectively, and they have all thrown out the reduction plan. The scale of reduction is 65 million 870 thousand yuan, 71 million 690 thousand yuan, 740 million yuan and 1 million 620 thousand yuan respectively.

Due to the popularity of ETC, Jinyi technology has become one of the core beneficiary shares of the sector. Its third quarterly report also achieved super high growth. In the three quarter of 2019, the net profit in the single quarter of 304 million yuan was -3.62 billion yuan, up by 21477.98%-25613.56% over the same period last year, and it was 1 million 407 thousand and 300 yuan in the same period last year.

As of October 18th, the price of Jinyi technology has reached 68.8 yuan.

Agency research reports generally believe that under the background of rapid popularization of ETC, the application scenario of ETC payment is expected to extend to consumer scenarios such as parking lots and parking within the road, and will open up long-term growth space. But there are also market voices that ECT is a hammer business and is expected to be fully realized this year.

The role of concept and performance in the current market is not yet known, but doubts about whether the existence of valuation bubbles and whether technology stocks have reached the top are frequent in recent years, which partly reflects market concerns.

By the end of 2018, Ren Zhengfei had publicly stated that 5G might be overheated, and did not think that 5G had such a large market space because demand was not completely generated.

From the perspective of price earnings ratio, there are many stock prices at present. In the 5G sector, the price earnings ratio of Run Xin technology is 512 times. Jay technology, Chun Hing Seiko and Hongbo share are more than 400 times. Integrated circuit board, weir shares price earnings ratio as high as 10138 times, Beidou star pass 685 times, Chang Chuan technology is 498 times.

The Great Wall securities research report pointed out that the fact of the economic downturn and the development of the A share market have accelerated the upgrading of the industry concentration, consolidated the situation of the strong and the constant strength, and the structural market of the A share market will probably continue. From the valuation point of view, the early rising plate has a certain degree of bubble, and we need to pay close attention to the disclosure of the three quarterly report.

Market participants believe that in particular, it is necessary to pay attention to the technology stocks and the high value consumer stocks that have improved in the Chinese newspaper.

In addition, it is worth noting that the pressure of subsequent reduction is still rising. The scale of reduction in September was a new high in the year, with a net reduction of 41 billion 300 million. Taking into account the four quarter's lifting of the lifting of the ban peak, the pressure of future reduction should not be underestimated.

Dongguan securities expects to lift the market value of 327 billion 400 million yuan in October, an increase of 30% over September (251 billion 300 million). Large scale industries such as medicine, biology, electronics, banking, non bank finance and light industry are being lifted.