Rebirth of the investment era

"Fuck!"

Su Yu saw the overnight repurchase rate and interbank interest rate that far exceeded the market risk line. Although he knew in his mind that this scene would definitely break out, when the crisis really came, he couldn't help but be shocked: "What was supposed to come has finally come."

Thinking about it, he swiped his finger across the phone screen and glanced at the missed calls.

Except for one call from Lin Antu, all the others were from Huang Yu.

Of course, in addition to these missed calls, @also has dozens of messages on the chat software, most of which ask him about the impact of the skyrocketing bank overnight repurchase rate on the domestic financial market, and even the ' There was also some commotion in the Yuhang No. 1 investor exchange group at this moment.

Su Yu first took a look at the fund's investor exchange group and saw Li Meng explaining to everyone that the fund had not yet started to build positions and that the impact would be zero. He also elaborated on the reasons for the money shortage in the market and reassured everyone that there was no need to panic, so he did not come forward in person. Explain, while getting up, he called Lin Antu back.

"Director Lin, what's the matter?" Su Yu asked.

Lin Antu replied on the phone: "Mr. Su should already know about the skyrocketing overnight interest rates and lending rates between banks, right? The news I just heard is that Qianjiang Bank is short of internal funds and may encounter a run on depositors and customers. There is a serious crisis.”

"Just in the early hours of last night..."

"I heard that the presidents of several of their branches have rushed overnight to other banks in surrounding provinces and cities that have relatively sufficient funds and can also conduct inter-bank lending to desperately raise funds."

"The bank's savings customer department employees are also fully mobilized."

"I heard that the loan business has been completely suspended."

"Of course, in addition to Qianjiang Bank, many local commercial banks across the country had the same problem last night."

"It is said that this is because in the first quarter, these commercial banks struggled to lend money and misjudged the central bank's decision to lower the reserve requirement ratio and increase the market's water supply, thus creating a 'money shortage' situation where many banks have no money to lend today."

"Okay, I understand!" Su Yu replied, "Continue to pay attention to the information in this area, especially about some small banks with serious money shortages. If you find a serious run on a bank, report it to me immediately. Oh... Also, you can pay more attention to the internal development of Qianjiang Bank."

"Okay, Mr. Su." Lin Antu responded and hung up the phone.

Later, Su Yu called Huang Yu back and asked him to wait for him at the business department of their branch before he went out.

When he came to the business department of the branch where Huang Yu was located, he saw an anxious look on Huang Yu's face. There were many people waiting in line to handle business in the business department. It was bustling. Although it didn't look like they were scrambling or panicking, they were obviously more crowded than others. There was a little more tension in the atmosphere than usual.

Huang Yu saw Su Yu arriving and led him directly into the VIP customer area.

Then, with the help of the counter clerk, he opened an account and transferred 5 million yuan from his original Huashang Bank account.

"Brother Su, thank you so much!"

After finishing the business, Huang Yu's face relaxed and he was very grateful.

Starting yesterday, the tasks assigned by the head office have fallen into the hands of each of their salesmen. The basic savings task of 5 million within three days is a hard target. If he cannot complete it, he will have to leave. That's why he is so anxious. , and it was indeed with no other options that he approached Su Yu.

"You have the same salesmen as you, and they all received the same tasks?" Su Yu asked as he walked out of the sales department.

Huang Yu nodded and replied: "Not just us, the presidents of each branch, the investment and financial management department, the savings customer department, including the business department that directly faces depositors, have all received instructions to stabilize the current flow of funds in their hands. Mission, like Director Wang, has already arrived in Qianzhou."

"Qianzhou?" Su Yu wondered.

"Yeah!" Huang Yu responded and continued, "I heard that a local commercial bank over there has sufficient internal capital flow and can lend funds on a large scale. Director Wang and others, as soon as they heard about it, We rushed over overnight, fearing that someone would borrow the remaining funds before us."

"Oh." Su Yu understood and continued to ask, "Is your bank's cash flow very tight now?"

After Su Yu had deposited funds and completed the target tasks for him, Huang Yu no longer concealed some of the real internal conditions of Qianjiang Bank and said: "I am very nervous, but in fact... it is not just our bank's cash flow. Nervous, right now, the cash flow of most banks should be very tight."

"All in all..."

"Our bank began to tighten loan disbursement in the middle of last month, which is already very optimistic."

"As far as I know, many banks that were still aggressively issuing new loans and expanding off-balance sheet assets in early June are really miserable now."

"I don't know what happened this time..."

"Previously, our director and the president said that the central bank will definitely lower the reserve requirement ratio in June. Even if it does not lower the reserve requirement ratio, it will definitely use other methods to release market liquidity."

"But I didn't expect that everyone kept waiting and waiting, but there was still no movement from the central bank."

"Now, the cash flow crisis in the entire banking market should have been detonated, if the liquidity release from the central bank that everyone is waiting for never comes."

"I guess the situation will get even more serious in the future."

Su Yu listened to Huang Yu's words and responded lightly, guessing that under the effect of the market's money shortage, companies with urgent financing needs must be extremely uncomfortable at the moment, and the over-the-counter financing interest rates and private short-term lending rates must also be rising sharply. Among them, so...

He said goodbye to Huang Yu briefly and called Liang Bin immediately.

"Liang Bin, send me the information on the three companies that need financing that you discussed with He Qian and An Xiaoya immediately." Su Yu said urgently on the way back home, "Also, call He Qian and An Xiaoya When Xiaoya comes home, we immediately discuss which company has very urgent financing needs and we can take action immediately."

"Su Yu..."

Liang Bin paused and said: "He Qian, An Xiaoya and I have only preliminary plans for three investment projects, but whether the projects really have investment prospects, as well as their internal assets and financial data, need to be further evaluated. and verification, which takes time, currently..."

"Send me the information first." Su Yu said, "The money shortage crisis broke out in the market, and interest rates for on- and off-market financing have soared. In the current market, the financing channels of companies with slightly inferior qualifications are basically completely cut off. , but I can say with certainty that all these phenomena are only temporary."

"As soon as the central bank releases liquidity in the future, the market's money shortage crisis will naturally be lifted."

"Before this, when the corporate financing is in absolute trouble, this is the perfect time for us to invest, because by investing at this time, not only do we have the absolute initiative, but we can also lower the market valuation of the company. To a certain level, we can reduce our investment risks and make companies feel grateful to us and feel that we are providing help in times of need.”

"I understand!" Liang Bin understood what Su Yu said and immediately sent the project information to Su Yu via email.

Later, Su Yu returned home and told Li Meng that he had called Liang Bin, He Qian and An Xiaoya over.

Then immediately turn on the computer and start downloading the file.

When he finished downloading all the files, opened them and browsed them briefly, at this time, Liang Bin, He Qian and An Xiaoya each held their laptops in their hands and had already arrived at the door of their house.

Next, everyone sat at the dining table in the living room and began to discuss the three preliminary investment projects.

Valley is sleepy

These three investment projects were all selected from the projects that He Qian and An Xiaoya had contacted and investigated when they worked at Guangya Investment.

Through preliminary research and evaluation.

The investment volume of these three investment projects is all within 4 million.

"From the perspective of the urgency of financing needs, this 'New Nanotechnology Co., Ltd.' is the most urgent." He Qian said, "Because of their newly built product production line, they have a backlog of several medium and short-term loans. It has matured in the past half month, and based on their qualifications and the current loan approval status of various banks, it should be difficult for them to get an extension or a new loan limit."

"It can be analyzed from the financial situation and future prospects..."

"Among the three investable projects selected by Xiaoya, myself, and Manager Liang, I think this company should be ranked at the bottom."

"Its main business is the production of lithium-ion batteries. Although in a broad sense, it is still in the boom track of the 'smartphone industry chain', its performance flexibility and future development prospects are less flexible than other core industry chain businesses. , it should still be weaker.”

"Of course, judging from the preliminary research results of this company by Xiaoya and I."

“Although its business prospects and development space are not particularly clear, its management has left a deep impression on us, and they said...the core of their product route is not the smartphone field, but the future electric field. automotive field, and they are already researching and developing power battery technology in this area."

"Electric vehicles and the future of power batteries."

"Xiaoya and I don't understand it very well and dare not jump to conclusions, but from initial contact, we can see that this is a very pragmatic company."

"New Nanotechnology Co., Ltd." Su Yu looked at the company's information and listened to He Qian's story. Thinking of the wave of new energy and electric vehicles in the future, he couldn't help but feel a strong interest in this company. , tilted his head and asked the other two, "What do you think?"

"New Nano Technology Co., Ltd. is an asset-heavy manufacturing company." Liang Bin said, "Although the smartphone field is currently in a boom stage, the basic industry structure has been revealed very clearly. New Nano Technology Co., Ltd. Without a first-mover advantage and facing many direct competitors, it will be very difficult to grow if you focus on 'mobile phone batteries'."

"So... you are not optimistic about the future of this company?" Su Yu asked.

"No..." Liang Bin replied with a smile, "On the contrary, I am very optimistic about the future development of this company."

“The reason why I include this company in the investment scope is actually not that I am optimistic about its current main business of ‘mobile phone batteries’, but the future power battery business mentioned by the company’s boss.”

"The country's investment in the new energy field has been increasing in the past two years."

"As environmental protection conditions become more stringent and national policies continue to advance, I think the concept of electric vehicles may still become a reality."

"This company has no advantage in its main business of 'mobile phone batteries'."

"But in the brand-new field of power batteries, it can be said that we are one of the few domestic companies with technology accumulation and willingness to develop and produce. If the direction is right, it will be a first-mover advantage."

“When we invest, we should have a certain forward-looking vision.”

“The two new concepts of electric vehicles and power batteries may not necessarily become reality in the future, but when opportunities are presented to us, we have to make plans and pay attention.”

"Just like three years ago, who would have thought that Apple could rewrite the smartphone landscape?"

"So, I think New Nano Technology Co., Ltd., at first glance, is a traditional late-comer enterprise with no actual competitiveness, but in fact, it is a 'new energy' enterprise that stands at the forefront of science and technology, dares to innovate, and has the courage to innovate. For such an emerging industry company, although it may not necessarily grow, it fully possesses the genes of a dark horse. With an investment of 4 million, I think it is completely worth a gamble."

"What do you think, Miss An?" Su Yu continued to ask An Xiaoya after Liang Bin finished speaking.

An Xiaoya thought for a while and said: "Manager Liang's idea makes sense to a certain extent, but its investment risk is still quite high. The business of New Nanotechnology Co., Ltd. is dual in nature. The development potential of traditional business is limited, and the new power is The future of the battery business is very uncertain."

"This was also the first time He Qian and I investigated this company."

"The reason why the project investment plan was rejected by the original company's project risk assessment team when it was submitted."

"My idea is that this new nanotechnology Co., Ltd. has high development potential, but at the same time there are also great uncertainties in business development. If the company has sufficient funds, it can be invested, but if we don't have that much funds , we can only choose the best among the best and choose companies with higher risks and future certainty for investment.”

"Among the three investment projects we have proposed..."

"Except for New Nanotechnology, the investment risks of the other two companies are obviously smaller."

"Mingjiang Technology is a company whose main business is industrial intelligent solutions. It is somewhat similar to the main business of 'Huichuan Technology' currently listed on the GEM, but it is also a start-up company."

“But the industry trend of industrial intelligence seems to be much more reliable than ‘new energy, electric vehicles, and power batteries’, and it should be said to be a very certain direction in the tide of ‘intelligentization.’”

"Also, the current competition in this field is not fierce."

"In the overall situation where industrial intelligence has just begun to develop, it is basically a very broad incremental market."

"There is also 'Tianwei Food'. Food is the most important thing in China, and food consumption has always been a relatively traditional and very broad market. This food company mainly develops in the form of snacks, self-operated, and chain franchises. , has now reached a revenue scale of tens of millions..."

"Invest in all of them!" Su Yu said, "I think the prospects of all three companies are good."

"All invested?" The three of them were stunned, and Liang Bin said hesitantly, "But our company... doesn't have so much money in its account. Although these three companies currently have varying degrees of urgent financing needs, and at this time, Taking advantage of the money shortage in the market, the financing channels of the entire market are almost broken. It is indeed a good time for us to negotiate with companies and invest at the lowest valuation level, but we also have to follow the company's basic strength. We can't afford it in one breath. So many projects.”

"When the time comes, no matter whether it is the primary market or the secondary market, we must take action decisively." Su Yu said with a smile, "I can lend 10 million yuan to the company first. When the company returns the money and make a profit, I can then use the bank to Just pay me back the basic deposit interest rate.”

Everyone was stunned, and no one expected Su Yu's idea.

However, if this is done, the company will have sufficient funds and can fully absorb these three projects in one go.

Of course, after Su Yu decided to invest in these three projects, his plan to build a Cang'an colored paper industry in the short term came to nothing.

You can only use the remaining funds in your hand to establish a bottom position first.

Then wait for more market changes and make more money before taking the idea of ​​Ancai Paper.

After deciding to invest in all three projects, there is nothing left to discuss.

So, everyone had lunch together. In the afternoon, Su Yu transferred 10 million from his personal account to the company's public account, and then called Teacher Yao to ask her to record the amount.

Then, without any hesitation...

Su Yu, Li Meng, Liang Bin, He Qian, and An Xiaoya were divided into two groups and went to Shenzhen City, where New Nanotechnology and Mingjiang Technology are located, and Xiangzhou, where Tianwei Food is located, to discuss investment business.

And when the five people went to two places respectively...

Throughout the country, the money shortage crisis within the banking system has become more and more severe. The inter-bank overnight repurchase rate and the interbank lending rate have continued to soar, all the way to 20%, triggering extreme panic and causing panic on and off the market. The financing market was broken across the board, and countless companies under heavy debt repayment pressure were suddenly plunged into cash flow crisis.