The male god of magic capital

Today, the food and beverage sector fund invested 90 billion yuan, which is comfortable.

Moreover, in today's market, the Shanghai and Shenzhen 300 Index has basically stopped falling and fell to the 5 moving average. In fact, quite a few institutions also entered the market to buy bottoms like Chengtian Mixed Pioneer, but the magnitude was different. The food and beverage sector fund invested 90 billion yuan, 90% of the positions.

And some big bottom-hunting institutions only invest a small amount of funds in each sector to support them, and they will not buy such a large sum of money like Chengtian Mixed Pioneer. They don't even consider how the subsequent stock market will go.

The fund managers of these large institutions are still quite conservative.

Of course, more institutional funds are reducing their positions.

Securities Daily: In the past month, 87 funds took the initiative to reduce their positions, and 182 equity funds remained full
The adjustment trend of the A-share market will not change. Although it has a high allocation value in the long run, there are still many negative factors in the short term. Most institutional investors hold a wait-and-see attitude towards the current market.

Compared with the previous public offering funds that have spoken out in favor of A shares, many fund companies have appeared to be "low-key" recently.

The changes in the fund's overall position in the past month, to a certain extent, show the fund company's attitude towards the current market.

From May 5th to June 19th, the Shanghai stock index fluctuated around 6 points. During this period, the overall position of equity funds in the public offering market dropped from 20% to 2900%, and 61.33 of the 59.73 fund companies chose Different degrees of lightening have become the mainstream operation in the market.

Tencent Finance: The total size of private equity funds shrunk slightly in May, with 5 institutions exceeding 252 billion
The China Securities Investment Fund Industry Association has released the latest monthly report on private equity filing and registration.

Due to the sharp drop in the stock market between May and mid-June, the size of private equity funds shrank slightly, remaining basically the same as last month, at 5 trillion yuan.At the same time, there were 6 private equity fund managers and 13.31 registered private equity funds.Equity venture capital private equity still maintained its growth momentum, with the scale increasing to 2.43 trillion yuan, but securities private equity decreased. In addition, the latest number of tens of billions of private equity was 7.75.

Invesco Great Wall Fund Liu Yanchun: The price performance ratio of the A-share market in the second half of this year is not as good as that in the first half of the year, and the market valuation is unlikely to increase significantly.

Qianhai Open Source Fund Qiu Jie: The risk of short-term global economic growth slowdown has increased, and market risk appetite may continue to decline.

Huashang Fund Zhang Bowei: Pay attention to market risk appetite and be optimistic about the long-term trend of A shares

···
"Boss, many fund managers have expressed their views on the future of A shares. Should we release some market reports?" Jiang Manman asked.

Luo Cheng: "There is no need to publish. If the market rises sharply tomorrow, we will continue to raise funds to buy the bottom of the food and beverage sector. If the market falls tomorrow, we will release news that is optimistic about the market."

"Yes, BOSS!" Jiang Manman thought for a while and said, "Boss, the founder of a medical and biological company wants to meet you. His company is losing money and needs financing urgently. I read its financial report. Bad, keeps losing money, but he wants to see you."

Normally, many people would like to meet with the founder of Chengtian Holdings to seek financing, but now Chengtian Holdings rarely raises funds for companies unless it is strategically needed.

The Strategic Investment Department also provides financing to companies related to Cheng Tian's family, and will not provide financing to other companies at will, so Jiang Manman declined, but the other party kept begging to come and see Luo Cheng.

"What company?" Luo Cheng asked.

"Northland, the founder's name is Xu Songshan." Jiang Manman said: "This is the report I investigated."

While talking, Jiang Manman handed Northland's investigation report form to Luo Cheng.

Luo Cheng: "Let me take a look first."

Founded in 04, Northland is mainly engaged in the R&D, production and sales of gene therapy drugs, recombinant protein drugs and ophthalmic drugs. Listed on the NEEQ in 09, it also became the first non-profitable innovative drug R&D enterprise listed on the market.

Northland has been losing money for eight consecutive years.

···
"I'm going, a company that has been losing money for eight consecutive years is completely dependent on financing. Can't find an institution to raise financing now?"

Luo Cheng shook his head straight.

He didn't intend to meet Xu Songshan, he probably came here to cheat money. At this time, he saw a news headline that Cangshan Group's medical and biological company successfully won an order from a large giant from Northland Corporation.

"Cangshan Group?"

"Liu Cangshan really has some skills."

Liu Cangshan's Cangshan Group is a diversified group, and its subsidiaries are all developing well. Liu Cangshan's own ability is indeed very powerful, and Wang Haitong and Shen Dayuan have formed an iron triangle in the catering industry. There is no way to take him.

Moreover, the Cangshan Group is involved in many fields, and it is backed by the Xiangjiang Consortium. In China, it is also involved with Wu Tianhai, Qin Qihai, Zhuang Shiming and others.

It is basically impossible for Luo Cheng to bring down Liu Cangshan, and it will be very difficult for his subsidiaries not to be brought down by them.

Although Luo Cheng has nothing to do with Liu Cangshan, but he can support Liu Cangshan's opponent to attack him.

This Northland company needs to be supported.

Immediately, Luo Cheng said to Jiang Manman: "Call Xu Songshan, the founder of Northland Company, over here, and I'll talk to him personally."

"Yes, boss"

Soon Xu Songshan came to Luo Cheng.

"Mr. Luo, hello, I'm Xu Songshan." Xu Songshan was excited and nervous at the same time, this time he came to persuade Chengtian Holdings to raise funds for his listed company.

Funds are scarce now, and money is needed, because Northland has lost money for eight consecutive years and burned a lot of money from investment institutions. Now everyone is unwilling to pay for financing.

"Mr. Xu, please sit down." Luo Cheng asked Jiang Manman to bring tea.

After exchanging a few pleasantries, Luo Cheng asked, "Mr. Xu, do you have a business conflict with Cangshan Group?"

"Yes, the products we developed once had a stable source of customers, but they were snatched away by the medical and biological companies under Cangshan Group and their low prices." Xu Songshan sighed: "Our products are good, Cangshan The group's products are poor, and customers choose to use cheap products, but the effect in the later stage is not high, so I believe that we can win back customers."

"Originally, I considered reducing the price, which was enough to win back the order, but the cost of R&D and production was high, which led to no profit margins, which was equivalent to nothing."

Luo Cheng nodded, and said, "What's the situation in your company now?"

Xu Songshan: "Mr. Luo, the company is still in the stage of product research and development, and the R&D expenditure is relatively large. The company's innovative drugs have not yet been approved for commercial sales. Therefore, the company will not be able to make profits or distribute profits for a certain period of time in the future. The amount of the company's future net losses will depend on In terms of the number and scope of the company's drug research and development projects, the costs related to these projects, the cost of commercial production of approved products, the company's ability to generate revenue, etc.

If the company's drug under research fails to complete clinical trials or fail to obtain regulatory approval, or fail to obtain market recognition and commercialization, the company may never be profitable; even if the company can make profits in the future, it may not be able to maintain sustainable profitability. "

Luo Cheng asked again: "If the product pricing is the same as that of the medical biological company under the Cangshan Group, are you sure that you can defeat the medical biological company under the Cangshan Group?"

Xu Songshan thought for a while and said: "Yes, the quality of our products is higher than theirs. If the price is the same, we can destroy it and burn money. But Cangshan Group is strong, so I can only grab orders. It can’t be defeated, it will take a long price war.”

Luo Cheng nodded: "Very good, I will raise 2 million yuan for you!"

At present, Northland's market value is still 14 billion, which is terrible. It has raised 2 million yuan, accounting for 12.5% ​​of the equity.

Previously, the food and beverage sector fund, a sub-fund of Chengtian Mixed Pioneer, raised 100 billion yuan and received 2.5 million yuan in management fees, of which 5000 million yuan was used as daily operating funds, and the other 2 million yuan was allocated to the strategic investment department.

The strategic investment department of Chengtian Holdings raised 2 million yuan to Northland Corporation, obtained a 12.5% ​​stake in it, and became the second largest shareholder.

The two parties signed a financing agreement, directing 2 million funds to Northland.

The financing caused a burst of doubt in the industry.

"Damn, what exactly does Chengtian Holdings want to do?"

"Financing a company that has lost money for 8 consecutive years?"

"I heard that Northland's orders have been robbed, hehe, are you going to raise money?"

"Oh, the operation of Chengtian Holdings is incomprehensible."

"I'll go, this is obviously not going to make life easier for the Cangshan Group!"

"I don't know, anyway, I don't like the financing of Chengtian Holdings."

"If Northland is defeated next time, this 2 million financing will undoubtedly be in vain."

Chengtian Holdings said: Northrand’s main products are bioengineering drugs and ophthalmic drugs, and currently 3 bioengineering drugs have entered the mid-to-late stage of clinical trials.Since the company has not yet approved a new bioengineering drug for marketing, it is still mainly generating income from related businesses such as eye drop production and sales, OEM and technology transfer to partially make up for the research and development expenditure of new bioengineering drugs. It is expected that the loss will continue in recent years , the company is expected to achieve profitability after the company's core new drug products are approved for marketing in the future.

The existing funds are expected to support the company's daily operations until the first bioengineering new drug is approved for marketing.As of now, the company's book monetary funds are 3.06 million yuan, and trading financial assets are 3.07 million yuan, totaling more than 4 million yuan.

The company's average annual loss in the past three years was 3 million yuan, and the average annual operating cash flow net outflow was 0.9 million yuan. Based on this, it is estimated that the company's existing funds are expected to support daily operations for many years, and it is estimated that it may face cash flow difficulties before core products generate income. less sexual.

···
Cangshan Group, Liu Cangshan was so angry that he could not bear to exhaust his opponent to the point of desperation. As a result, Chengtian Holdings gave him 2 million yuan in financing,
"Damn Chengtian Holdings!"

"Tomorrow the stock market will plummet, and the stock prices of Northland and Chengtian Holdings will all fall!"