I stole someone else's ticket to rebirth

Chapter 266 Who made Jiang Banxia not do his job properly!

Many people have speculated about why Wanliu Capital has not released its annual report.

After all, Wanliu Capital has cleaned up its two funds with a total value of more than 300 billion yuan since May last year. Without funds, how can it make money?
There were even various internal reports saying that the employees of Wanliu Capital had no work to do and that they were given two extra months of vacation last year.

In the A-share market, Wanliu Capital's share price frequently hovers between 2.8 and 2.9.

Although there seems to be great support at this point, many people know that once the annual report of Wanliu Capital is released, it will definitely not be able to support a stock price of nearly 300 billion.

Some people have even calculated that based on the performance of the first four months, even if Wanliu Capital liquidated their shares en masse in early May, their revenue for the four months would be less than 200 million yuan.

How can a market value of 300 billion be supported with a revenue of less than 200 million?
When it went public, the net profit was calculated based on more than 10 billion yuan.

It's ridiculous that the stock price can remain at this level. It should have fallen to tens of billions long ago.

As for the QDII fund of Wanliu Capital, no one took it seriously.

It would be good enough if domestic institutions do not give money to others in the capital market outside. How many of them can really make money?
Even though the U.S. stock market seems to be in a long-term bull market from the perspective of outsiders, domestic institutions just cannot make any profit from it.

The most important point is that the U.S. stock market was doing well last year, but after the beginning of this year, the market trend was very bad, and several pillar stocks fell by about 20%.

It's only been over two months.

……

The employees of Wanliu Capital are working overtime like crazy because there is so little time and so much to do.

It was not until the early morning of April 4 that Li Yang liquidated all his fund positions, and the annual report was to be released on April 29.

Time gradually came to eight o'clock in the evening of April 4th.

Willow Capital released its annual report.

In the entire fiscal year 2017, Wanliu Capital had revenue of billion and net profit of billion.

This data is indeed somewhat unexpected. Many people think that it would be good enough for them to have a revenue of several hundred million.

Then he took a look at the financial statements and found that the main income came from closed-end fund management fees, reaching 260 million US dollars.

This management fee is quite high.

If we calculate based on a scale of US$8 billion, the management fee for seven months is close to %.
This is obviously very unreasonable data.

"Wanliu Capital can't make money from the market, so it starts to make money from users?"

"I knew they didn't have such good intentions. They kept saying they were serving the people, but in the end, they were just serving themselves."

"What the hell is this management fee? How can it be so outrageous? If there is no profit or loss, the management fee is 8 points. What if there is a slight loss? Wouldn't it be more than points? Can't the China Securities Regulatory Commission come out to regulate it?"

"You hid it for so long, and it turned out to be such a big one?"

"Just wait for the stock to hit the limit down. With this performance, let alone maintaining a market value of 300 billion, they'd be lucky if they could maintain a market value of 50 billion. They don't have any new products this year, so their performance this year will only be worse!"

"At least ten limit downs to start!"

……

Originally, the situation of Wanliu Capital did not require the attention of Jiang Baichuan, a big boss.

But who asked him to advocate investing money?

He invested 150 billion yuan and took 5% of the shares, which showed his confidence in the young man Jiang Banxia.

As for the business of Wanliu Capital, he didn't pay much attention to it. It was not his turn to pay attention to such a small matter. He couldn't help Jiang Banxia run the company, right?

I am still a little disappointed after reading this annual report.

The net profit of 70 billion is not low, but the financial industry is an industry with a very high profit ratio. Most financial companies can achieve a net profit ratio of %.

No one would even look at a financial company with a net profit ratio of less than 30%.

However, the market will be crazy about physical enterprises with a net profit ratio of more than 10%.

This is also why a PE of 20 to 30 times for financial companies is already extremely high, while a PE of 80 times for industrial companies is still considered low.

"Maybe the birth of the child was delayed? It seems that I really didn't receive any relevant information..."

Jiang Baichuan found an excuse for Jiang Banxia.

There is nothing much to say about having children. It is in response to national policies, and it is understandable that some delay in work may occur.

He plans to ask about the situation after work tomorrow...

On second thought, tomorrow is the May Day holiday...

Forget it, let’s talk about it after the holiday is over. These few days won’t make any difference.

As for the invested money, no matter whether it is profit or loss, you have to accept it.

I just kind of regret that I promised too much at the beginning. It should have been just one or two points.

What a mouthful!
Jiang Banxia really brought him such a huge surprise.

Now it's an impulse purchase.

I'm old, I was impulsive...

……

All departments of Wanliu Capital have become busy, preparing to release the first quarter report of this year.

Generally, quarterly reports are not mandatory to publish, but Willow Capital is preparing to publish them.

On the other hand, we are preparing new fund products.

Including the previous Wanliu Mixed Selection and Wanliu Pilot Selection, and two additional products will be added.

One is called Wanliu New Energy Hybrid, and the other is called Wanliu New Medical Configuration.

Launching four fund products at once is a test for the entire company, as there has never been so many before.

After all, Willow Capital only has a hundred or so employees...

The design of fund products is relatively complex, and all aspects of data must be carefully calculated. In addition to submitting the application, it will take at least one month to implement.

When the annual report was released on April 4, many shareholders of Wanliu Capital were stunned.

I know Jiang Banxia had a baby and delayed her work. But it can't be so outrageous, right?

Judging from the annual report, apart from a QDII fund, there are no other products in operation, and even Wanliu Capital has not invested in it.

Jiang Banxia invested himself, but it has nothing to do with Wanliu Capital, so it has no impact on the stock price.

What financial companies want is the ability to make money.

"Damn it, I'll clear out the inventory on the 6th and never buy this crap again!"

"This is a scam! Who gave Wanliu Capital a market value of 300 billion? They are treating us retail investors like leeks, right?"

"There are many companies with an annual net profit of more than 2 billion and a market value of hundreds of billions, but what kind of companies are they? What kind of company is Wan Liu Capital? Even if they were torn apart and sold for parts, they could still make hundreds of billions. How much can Wan Liu Capital make? They have no products and no profits. Are such junk stocks worthy of being listed?"

Jiang Banxia has deactivated her Weibo account, so no one scolds her.

But Li Yang’s Weibo is there.

Those people had no place to vent their anger, so they just rushed over.

In fact, most of them are just spectators. Even if they don’t buy it, they will feel happy if they have the chance to curse the big guys.

After all, it’s not easy to scold someone on a normal day, as you will be attacked by many fans.

Now if you curse, there will be helpers.

……

Holidays do not affect the settlement of QDII funds because people abroad are still working.

It’s just that the employees at Wanliu Capital have to work overtime.

After cursing for several hours, investors who invested in Wanliu Global Select received a message.

That means the fund settlement period has arrived and everyone can see the net value information of their positions.

Closed-end funds were not public in the past, and even few company employees could see them.

Ning Hao is one of them.

He opened the Wanliu Capital app and entered his personal account.

He held a total of 350,000 yuan, of which 260,000 yuan was Zhang Mansheng's and 90,000 yuan was his own.

He was stunned when he saw the funds in his account.

85.33 yuan, net value (+143.8%)

He trusted Li Yang and Wanliu Capital very much, so he used all the signing fee from the first year to buy stocks, and used the bonus he earned last year to pay the taxes.

As for this year, he has not made much money yet. He usually earns some pocket money by playing as a substitute and is also preparing for his own game studio. However, based on the feedback during this period, he does not have much confidence in this investment. He thinks that Li Yang is likely to help them break even or make a small profit.

But I never expected that the result would be a huge profit!

This return is really outrageous. You should know that the net value they show is the result after deducting management fees and handling charges.

In one year, the fees amount to five points. Since the price cycles are different, based on the final amount, about four points of fees will be deducted, and they will still get a net worth increase of 143.8%.

He took out a calculator, did some calculations, and then immediately sent a screenshot to Zhang Mansheng.

"Uncle, the fund has been settled, but you can only withdraw cash at 63.39 a.m. on the th. Together with the principal, you should get yuan. I will transfer it to you directly after it arrives in your account on the th. You can contact me when you want to liquidate the stocks."

This can be considered as getting rich overnight.

Ning Hao didn't feel that he was at a disadvantage. After all, he really couldn't come up with the money at that time.

He also held 250,000 yuan of Wanliu Capital shares, and Zhang Mansheng also invested 100,000 yuan.

Zhang Mansheng was shocked when he saw the data, "Earning so much?"

"Well, I feel that the stocks of Wanliu Capital should also rise. This data is amazing. I wonder how much money Wanliu Capital can make. I think you can wait for those stocks."

"Of course you have to wait. It's the May Day holiday. Come to my house and have a meal together."

"No, no, I have something to do here. Can you give me your card number?"

……

The settlement of closed-end funds caused a stir in the fund circle overnight.

There were a total of more than 10,000 orders initially, and there were basically few repeat purchases, so only about 10,000 people were eligible to apply for this fund.

After seeing such incredible profits, I kept a large part of it to myself and didn’t dare tell anyone else.

But there are always a small number of people who just post the screenshots online.

"Brothers, we got a top-of-the-line Yaoguang for free!"

Someone posted a screenshot and said something.

Then the comment section exploded.

"Fuck, such a high return, which fund is this?"

"What kind of incredible operation is this? Is there such an amazing fund in China? The funds I bought have all fallen terribly..."

"Brother, please take me!"

Many people don’t know that this is Wanliu Global Selection. After all, there are only 10,000 people in the country who buy it, and not everyone can see the information in the middle of the night. Some people may even have changed their phone numbers and not know about it.

After a brief questioning, someone who knew the situation spoke up.

"This is the closed fund of Wanliu Capital, right? It was closed on May 5 last year, with a lock-up period of one year, and it was just released today."

"Yes, although I didn't buy the Yaoguang, the Tianquan was given to me for free, and I made an extra hundred thousand yuan."

"I saw this in other groups, too. I have to say you are really courageous. You deserve to earn this money."

"It's not about courage or not, I just want to support Li Yang. Who would have thought that Li Yang would bring me such a big surprise. I still regret not buying Wanliu Capital's stocks. God knows how much money Wanliu Capital has made this time. Their performance last year was indeed not good, but that was because the fund's data was not integrated. It was a 5 billion US dollar plate. Tianquan seemed to have sold more than 10,000 vehicles at the beginning, which only added up to 30 to 40 billion shares. Most of the shares should have been taken by Wanliu Capital itself."

"Alas... opportunities to make a fortune came to me like raindrops, but I dodged them all..."

The conversation between the two soon spread.

This kind of communication without any hostility is highly credible to many people.

Those who talk about destroying an entire family and look down on this and that are easily regarded as brainless fans or internet trolls, and their credibility plummets.

As more and more Tianquan car owners posted their screenshots, this topic became a small hot spot on the entire Internet.

The news that Wanliu Global Select made a lot of money by investing abroad for a year spread.

If you want to know how much money Wanliu Capital made this time, it is not difficult to calculate, especially for practitioners.

The 5 billion US dollar share is equivalent to 33 billion. The owner of Tianquan Car has used up 4 billion of the share, and Wanliu Capital alone has a 29 billion share.

Wanliu Capital definitely has the money, as it raised a large amount of money when it went public.

If Wanliu Capital had not invested in three lithium mines and one copper mine this year, and the prices of these two raw materials had just fallen this year, its cash flow would have been particularly terrifying.

These are the net worths of investors. In fact, the net worth of Wanliu Capital has definitely increased by more than 150%, because their management fees are collected every day, which means that their share in the entire product is getting higher and higher.

It's nothing more than dividing the money into two parts for accounting purposes, one is investment income and the other is management income.

According to conservative estimates, Wanliu Capital will make a profit of more than 40 billion yuan from this fund.

"Even if they made 40 billion, Wanliu Capital is still a waste. Anyone who takes this kind of stock is an idiot!"

"Indeed, the stability is too poor. It may be just sheer luck. This year's performance is good, but next year's performance may fall to a few hundred million again, which is not enough to support the market value of hundreds of billions."

"Anyway, I'll just run away when the market opens higher on the 6th, and I'll be satisfied with a few points of profit."

"We're running together. Wanliu Capital has some conscience. I won't do this again..."

Such remarks are everywhere on the Internet, and many people are confused.

You've clearly made so much money, why are so many people bearish?

When someone raised this question, a large number of people immediately jumped out to explain to them what the purpose of stock trading is and what stocks the investors like most.

Wanliu Capital’s shares are too large and too dispersed, so it is not favored by investors.

Now that performance is fluctuating so drastically, there is nothing trustworthy at all.

Stock speculation is based on expectations. Even if they make 40 billion this time, what will happen? Their company is worth 300 billion. Can they come up with 300 billion in funds?
Therefore, Wanliu Capital is not worth holding!

This topic was debated from May 1st to the opening of the market on May 6th.

The popularity of Wanliu Capital ranks first in all major software.

This is all the popularity brought by Li Yang. No matter what Li Yang does now, it will be magnified by the Internet.

If he had some free time, he could take a video of himself eating breakfast, which would probably become a small trending topic.

On the opening day on the 6th, Wanliu Capital's stock price opened six points higher, and after a brief hesitation, it was directly closed.

During the closing phase, the transaction volume reached 3.2 billion.

Li Yang was too lazy to pay attention, even though he knew someone was deliberately trying to stir up trouble.

He doesn't need to worry about people who can be easily led by the rhythm and throw away the chips in their hands.

Even though this one time was hinted at, there will be more times in the future.

Maybe if you suffer a loss this time, you will suffer less in the future.

He took advantage of the time when Wanliu Capital was applying for fund products to quickly finish his graduation thesis, which would be finalized in another month. His graduation date was July 7 and his defense date was June 5.

He didn't have much time left.

……

Jiang Baichuan arrived at the company early in the morning and was faced with the work accumulated during the May Day holiday.

Many important matters require his review and signature.

Especially the funding issues in various places.

There are social security pension funds in every place, and the purpose of social security pension funds is to make money.

If he had a stable way to make money, he would definitely give it to him, but the problem is that he doesn't have one.

Those social security pension funds cannot take risks, but want to make as much money as possible, which always gives them a headache.

He really wanted to discover some talents in the financial field. Although he had many talented people under him, he always felt that there was something missing.

He thought of Jiang Banxia.

Jiang Banxia’s talent for trading is too strong. Not only does he have a keen sense of funds in the market, he also has a strong vision.

She has never made a mistake in judging the general direction, and is extremely rigorous in paying attention to small details. Either of these two talents would make her a top genius, and she happens to possess both qualities.

It’s just that... Jiang Banxia doesn’t seem to be thinking about this at all.

He was willing to turn his Wanliu Capital into a marketing tool for Jiying Automobile and did nothing else except helping Jiying Automobile.

I thought about the 15 billion I invested. I thought it was too much...

If I had invested a few billion less, I wouldn't be feeling so painful now.

After he finished his work, he opened the interface of Wanliu Capital and prepared to see whether to reduce his holdings. 5% of his 30% shares had been unblocked.

Who made Jiang Banxia not do his job properly!

(End of this chapter)