The Road to Rebirth Finance

Chapter 390 The Baotuan market is beginning to emerge.

Since the 21st, in the last two trading days of this week, the Shanghai Composite Index has been adjusting up and down around the long lower shadow line on the 20th. After falling below 3000 points, the Shanghai Composite Index has entered a breakout state.

In the short term, even with the positive stimulus of the central bank's continuous release of liquidity, it is not so easy to change the current weak market environment.

The index is still making a fuss about the support of the 60-day line on the daily line, but after all, the pressure on the top is too huge, and such adjustment space is limited after all.

If you want to truly realize the 20% rebound space that Ren Xingzhuan said, you must not break or stand. Only when you really fall out of the space can you achieve a real rebound.

In Gu Junhao's view, the market is bound to have its last drop this year, around 2900 points, which is far from the bottom position of this year.

The performance of the stock market in later generations hovering around 3000 points for a long time also shows that this is not the so-called bottom position, and Gu Junhao knows the high position in 2016.

It is almost around 3400 to 3500 points, which will be the sideways range and pressure position of A shares for a long time to come.

Combined with the high point position and the 20% rebound expectation, that is to say, since the sharp drop on April 4, the lowest position of A shares is around 20 points, which is also in line with the judgment of the broader market.

In the following week, Gu Junhao handed over the specific work of the fund to Liu Tingting, while he himself made preparations for the on-site investigation of listed companies after the May Day holiday.

This year’s May Day holiday starts on the 30th and ends on May 5nd. There are only three days in total, which also includes a weekend weekend. It seems that starting from this year, the feeling of large-scale holidays for ordinary people has become more and more uncomfortable?

All kinds of fancy holidays make people lose their initial expectations for the holiday.

Funds have to do a lot of things before researching listed companies. Before visiting listed companies, they must fully collect various information related to the company, including annual reports, industry and market competitiveness information.

In addition, there are some media reports about the company. Collect all these information and conduct preliminary research to form a general impression and logical judgment about the company, so as to form a preliminary seriousness.

These are all done by the research team of the investment business department. Gu Junhao only needs to give them the list of listed companies that need to be researched, and they will summarize and complete the final report and hand it over to Liu Tingting for processing.

These are just the data collected before the survey, but during the field visit, these data are actually of little use. On the contrary, we don’t need to focus on the research energy only on the enterprise itself, and the communication with the related departments and companies of the enterprise is the most critical.

For example, for suppliers, product agents and other companies connected to them, it is far more realistic to find out the specific operating data of these suppliers than the simple data on the report.

As for the entire visit process of listed company entities, detailed records are required, including but not limited to: notes, photos, audio recordings, video recordings, etc., within a limited time, the workload is still very heavy.

The reason why we chose to start the research in May is also because after the end of this month, the first quarter reports and financial reports of major companies have been announced, and the silence period during the main reporting period of listed companies has passed.

Not only Junshi Fund, but now many fund companies are preparing for the next research.

Within a week, the stock market was calm, and the liquor sector as a whole was near the 60-day line, showing signs of stabilization.

On April 4, Maotai Liquor officially announced the resolution of the company's second general meeting of shareholders in 27, announcing a series of data of the main body during the reporting period, the dividend plan and the list of the top ten shareholders.

In fact, this year's dividend plan is very generous, with 10 yuan for every 61.71 shares.

Calculated based on Maotai’s closing price of 4 yuan on April 27, the dividend ratio is 244.88%, far exceeding market expectations.

Since the resumption of trading at the general meeting of shareholders, Junshi Investment has accelerated the speed of building positions in the liquor board industry and Maotai, especially on April 4, the day when the market fell sharply, Maotai fell by 20% on that day, and the stock price hit a minimum of 1.95 yuan.

In eight trading days, Junshi Investment bought a total of 8250 lots of Maotai stock price, and the average transaction price was around 242.5 yuan, which has reached the maximum position of the fund.

After the completion of the warehouse building, Junshi No. 382.5 and Junshi Price Investment held a total of 9.36 million shares of Maotai Liquor, with a total market value of more than [-] million yuan.

Calculated according to the dividend ratio, a total of more than 2360 million yuan in cash can be distributed.

It is really a very comfortable thing for large funds to hold these blue chip stocks with excellent performance, generous dividends and stable expectations.

If he hadn't established a fund company, it would be relatively easy for Gu Junhao to buy Maotai Liquor with [-] hands based on Gu Junhao's current net worth.

According to the current dividend ratio, even if the stock price is not expected to rise much, Gu Junhao can easily distribute more than 600 million yuan in cash every year, which is completely enough for personal daily expenses.

The two funds jointly hold 382.5 million shares, but they are still not eligible to be listed among the top ten shareholders of Maotai Wine Industry in the first quarter.

Among the top ten shareholders of Maotai, the tenth-ranked holdings are close to 500 million shares, with a shareholding ratio of 0.4%.

Different from small and medium-cap stocks, Gu Junhao still has a long way to go if he wants to appear among the top ten shareholders of these large blue chips.

Without exception, among the top ten tradable shareholders, except for the controlling shareholder, all major funds including the national team and foreign capital are without exception.

Judging from the list of shareholders in the first quarter annual report of Maotai Liquor Industry, the group market of large funds has begun to emerge.

In the next few trading days, some blue-chip stocks announced for the year and the first quarter all showed this situation.

The trading in April ended officially on Friday, the 29th. The Shanghai Composite Index closed at 2938.32 points, down 2.18% for the whole month.

The GEM index closed at 2138.74 points, down 4.45% for the whole month. After the sharp rebound in March, the Shanghai and Shenzhen stock markets have entered into a downturn again.

Looking at the transactions since March, the daily trend of the Shanghai and Shenzhen stock markets has remained within a small range, and the biggest drop was only the intraday drop on April 4.

After the stock market crash in January and February and the rebound in March, the Shanghai and Shenzhen stock markets have gradually got rid of the intraday wide fluctuations caused by the stock market crash and entered a normal bear market operation state.

In today's after-hours news, high-level executives rarely talked about the stock market again after the stock market crash, expressing their will to promote the healthy development of the stock market.

The April PMI index released at the same time was 50.1%, which was the same as the same period last year. It has been in the expansion range for two consecutive months, showing that the process of economic recovery is still in a stable range.

Before the May Day holiday, the market made rare statements from high-level executives and had more expectations for the market outlook.

(End of this chapter)