The Road to Rebirth Finance

Chapter 381 Guessing about personal wealth

These two stocks are Tianqiliye, which has officially announced its results this weekend, and Keheng, which has been suspended from trading.

Among the list of top ten shareholders announced by Tianqi Lili Industry Exchange, Junshi Capital Co., Ltd. ranks No.450 among the top ten tradable shareholders with a position of 1.65 million shares and a shareholding ratio of 8%.

What is more interesting is that Junshi Capital followed Huijin this time, and Huijin ranked No.2.51 among the top ten tradable shareholders in Tianqi Liye with a ranking of 7%.

The two stocks are among the top ten shareholders at the same time, and they are both ranked behind the national team. It can only be said that Junshi Capital is really serious about participating in the rescue of the market!

The annual report released by Keheng Co., Ltd. following Tianqi Liye made everyone even more restless. Junshi No. 3.98 Mixed Selection, a subsidiary of Junshi Capital Co., Ltd., holds 4% of the shares and occupies the No. .[-]!
You must know that this company is currently in the suspension stage. After the suspension, it has released a series of major acquisitions and reorganizations. From the perspective of the previous shareholder rankings, Junshi Capital did not appear in these two companies in the fourth quarter of last year. ranks among the top ten shareholders.

That is to say, Gu Junhao started to build positions in January or February this year, and judging from the net worth curve rate of Junshi No. [-] since November last year, it is very likely that he started buying bottoms after the sharp drop in February Those who build positions can be described as accurate bargain hunters!

Of course, it is not ruled out that Gu Junhao has not bought these two companies before, and it is also possible that he started to increase his position in February, but in any case, this is a very accurate bottom-hunting.

Gu Junhao's fans are a little excited at this moment!

"Damn it! One weekend, Brother T appeared among the top ten shareholders of three companies. It's too awesome. Brother T still dares to buy stocks heavily."

"Photovoltaic, lithium batteries, Brother T, are you optimistic about new energy? All three stocks are heavy positions."

"Keheng shares are a bit irritating. Precise bottom-hunting, there must be some inside information?"

"The inside story, his fellow villager just went in to step on the sewing machine, who dares to engage in such a high-profile inside story at this time, isn't this courting death?"

"That is, is it difficult to admit that others are good? If it's really an inside story, you might as well say that Brother T's idea of ​​saving the market is the same as that of the national team. The two stocks appear behind Huijin, which is a bit interesting."

"Haha, this shouldn't be an inside story. Everyone knows which stocks the national team bought. Brother T's news channel must be faster than ours. It's not unusual to buy the same stocks."

"Haha, Brother T's colleagues always criticize him for being arrogant and arrogant, saying that he has no EQ. If you look at the shareholding ratio he bought, they are all ranked behind the national team. You tell me that this is called having no EQ? "

"Hey, what you said upstairs is really true. The heavy position not only shows that he is seriously participating in the market rescue market, but the shareholding ratio does not exceed that of the national team. It seems that he is not so ostentatious. Brother T is full of emotional intelligence. ah!"

"Brother T is a black hat in the fund circle, but it is because of Brother T's good performance, and private equity funds have lost money and do not charge management fees. This is not killing people's jobs. If it were changed, I would also black him."

"Before you know it, Brother T is already one of the top ten shareholders of listed companies. It's really scary when you think about it. It's only been less than three years. One company can be said to be an exception, but three companies in a row are really What’s more, Brother T now has this strength.”

"I don't know how many have not released their annual reports. Junshi No. 60 has a scale of more than [-] billion. I don't know how many companies will appear in the top ten shareholders of the company."

"Damn it! I just took a look at Keheng shares. He suspended trading because of the acquisition and reorganization. After the resumption of trading, it will take off. Brother T is rich!"

"It should be said that the client of Junshi No. [-] got rich. Brother T has already made a fortune. He doesn't care about the [-] million or [-] million yuan. You can see that all the shares of Longji in his personal account have been transferred to the company."

"Nimma, some time ago, there were people who blackmailed Brother T because he was afraid that Junshi No. [-] would lose money, so he left his post and went to do public offerings. Look at this precise bottom-hunting technique. Will it lose money? It's just farting!"

"I'm looking forward to Junshi No. [-]'s net worth performance this month, even though it has nothing to do with me!"

"The big dogs are getting rich again! Why is it not our turn!"

"Upstairs, you can buy 125700. That is Brother T's public offering fund. The current yield is 13%. There is still a chance to get in the car."

"Stud! Stud 125700! Follow Brother T to drink soup."

Compared with the fanaticism of the fans, as colleagues in the industry, at this moment, they clearly realized that Gu Junhao was already a force to be reckoned with in the fund circle.

Can appear in the ranks of the top ten shareholders of the three listed companies in a row, and there are still unannounced and shareholding ratios that do not reach the top ten shareholders.

The three stocks on the list currently have a combined market capitalization of 12 billion yuan, and the two with the largest market capitalization are entirely owned by Junshi Capital's self-operated market. This is Gu Junhao's real personal wealth.

Judging from the time of Tianqi Liye's intervention, Junshi Capital's holding cost should be around 110 yuan, or even no more than 110 yuan. Based on the current stock price, the profit has exceeded 40%.

The annual report released this weekend gave the market a new understanding of Gu Junhao's net worth and the valuation of Junshi Capital.

Since Junshi Capital is not a listed company and does not need to release a formal annual report to the public, the outside world does not know the specific profit of Junshi Capital and Gu Junhao himself in 2015, but the approximate data is still enough to estimate.

According to the data when Junshi No. 15 was liquidated and the scale of Junshi No. [-] when it was settled for the first time, the overall profit of the two funds and Gu Junhao's open operation may be as much as [-] billion yuan.

There are three main valuation methods for private equity: income approach, market approach and cost approach.

The income method is an absolute valuation method, which mainly refers to the value obtained by discounting expected future earnings. The market rule is a relative valuation method, which involves the valuation of companies in the same industry or recent similar transaction cases.

The cost method is relatively simple, mainly relying on the evaluation of the company's various assets and liabilities by the evaluation agency, and subtracting the sum of the market value of the liabilities from the sum of the market value of the assets to obtain the valuation.

But no matter which valuation method is used, the company under Gu Junhao's name, even if calculated according to the lowest estimate method and the most simple book figures, is definitely more than 20 billion yuan.

In less than three years, Gu Junhao has grown from an ordinary young man to a net worth of more than 20 billion yuan, and the rapid expansion of his assets is amazing.

This, perhaps, is the charm of capital, which can gather a large amount of wealth in a short period of time and change the fate of a certain person or a certain group.

As for Gu Junhao, he is still a young man who has just turned 24 years old at this time. At this time, he can already be regarded as another new generation of private equity tycoons in Yongcheng. His success is different from most hot money. .

There is no classic short-term operation case, nor is it a frequent visitor on the Dragon and Tiger List. The operation method has been very institutionalized from the very beginning. The first fund relied on industry-shattering terms and the support of several large funds. Difficult to market.

After that, it routinely announced the changes in the specific net worth once a week to attract the attention of the market, until the final liquidation was as high as 22 times the income, allowing it to finally complete the transformation.

Not to mention his talent for stocks, since the founding of the company, he has made steady progress step by step, while keeping under the public eye at all times, maintaining a certain degree of popularity while maintaining its due mystery.

This kind of sense of proportion is really not like a young man who came out of an orphanage and has never seen the world, especially this wave of participating in the rescue after following the national team. Later, it's hard not to pay attention to it.

This kind of thing is either because there is an expert behind him, or it is because of his extraordinary talent; compared to his extraordinary talent, as an old fritter who has been in the fund circle for many years, he is more willing to believe that there is an expert behind Gu Junhao, but it has not surfaced. .
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The specific disclosure time of A-share quarterly reports, annual reports and semi-annual reports, A-shares also have their own relevant rules, whether it is the Shanghai stock market, Shenzhen stock market (including ChiNext), the disclosure time of official financial reports of all sectors is the same.

The quarterly report requires one month of preparation time, that is, the first quarterly report must be published by the end of April at the latest, and the semi-annual report requires two months of preparation time, and must be finally released before the end of August.

As for the annual report, the preparation time is four months.

所以一般情况下，年报跟一季度报都必须在4月30日前完成正式的披露，半年报8月31日前披露，三季度报10月31日前披露。

These are all rigid regulations, and there is no room for bargaining. Once the official disclosure in the report is not completed within the specified time, the company may even be forced to ST risk, and some companies that fail to publish the annual report may even withdraw. city.

The other is the annual report notice. All boards must be conditionally and compulsorily disclosed before January 1. As for the sci-tech innovation board launched in the future, its annual report express must be compulsorily disclosed before February 31. This is unconditional.

As for what is conditional mandatory disclosure, the conditions are as follows: first, the net profit is negative; second, the net profit has increased or decreased by 50% or more year-on-year; Or the main business income is less than 1 million yuan.

Generally, it is more common for the net profit to increase or decrease by more than 50% year-on-year. Assuming that today is January 1, if the company has not disclosed the annual report forecast today, then you can judge in advance whether the business situation of the company you are concerned about is not as good as expected. .

Regardless of whether investors can understand the various data in the annual report, at least they must have a corresponding understanding of the disclosure time of the major reports, otherwise the risk of stepping on the thunder after the report period is very high.

As for how to understand the annual report data, this cannot be generalized; sometimes a loss is not necessarily a bad company, and sometimes a profit growth is not necessarily a good company. The profit growth is not as expected, or the fundamentals of the industry have changed. I don't recognize it.

Of course, some unscrupulous companies often change their performance. There is a big gap between the official report and the previous forecast. This kind of situation is somewhat uncontrollable.

In the Jianghu, who hasn't stepped on a few thunders? In his previous life, Gu Junhao bought all delisted stocks. This is normal, and it is enough to avoid losses in heavy positions as much as possible.

There are also some good companies that publish their business bulletins every month. Although the stock price of such companies may not rise a lot, at least the probability of being hit by thunder is relatively small.

How much money is made every month is announced to the public, so it can be roughly judged how much money the company made in the first quarter or a year, whether it meets expectations, and if it does not meet expectations, it can stop losses in time.

Compared with the annual report data, in fact, the first quarter report data released at the same time period is more worthy of attention. The annual report can only represent the operating data of last year, while the first quarter report represents a new student this year, which often determines the status of a family. The stock price trend of listed companies within a year.

(End of this chapter)