Tagged: stocks

Earned 9.6 billion from stocks

First, the time rushed early. When everyone was preparing to issue financial reports at the end of March and April, Sunac released its financial results half a month in advance, appearing to be quite confident in last year’s performance.

According to the annual report data, in 2020, Sunac China will realize operating income of approximately RMB 230.59 billion, an increase of approximately 36.2% over last year; gross profit of approximately RMB 48.40 billion, an increase of approximately 16.9% over last year; It was RMB 35.64 billion, an increase of approximately 36.9% over last year; core net profit was approximately RMB 30.26 billion, an increase of approximately 11.8% over last year.

The capital market also responded. As of press time, Sunac China rose 11% intraday, and the share prices of many leading real estate companies in Hong Kong stocks also rose.

Earned 9.6 billion from stocks
At the subsequent performance meeting, Sun Hongbin, chairman of the board of directors of Sunac China, was very optimistic about the industry. “10 years ago, we sold only 8 billion yuan,” Sun Hongbin said: “Now is the golden age of outstanding enterprises.”

Good performance is inseparable from our own struggle, but we also have to thank the course of history. Behind the surge in Sunac’s earnings, the stock market in 2020 and the appreciation of the renminbi are indispensable.

A good stock of speculation, relying on national fortune to make money?

On the premise that gross profit increased by about 16.9% compared with last year, Sunac’s net profit increased by about 40.4% compared with last year. How did such a high growth rate come about?

The answer is: investment has made money, and the renminbi has appreciated.

Since Sunac issued a large number of US dollar bonds, Sunac accrued an exchange loss of approximately RMB 870 million in 2019 due to exchange rate changes. By 2020, Sunac has earned 4.16 billion yuan in exchange gains.

There are 50 more small goals in this one after another.

In addition, Sunac recorded a financial asset income of 9.65 billion in 2020, mainly from the listing of Shell and the sale of financial assets such as Jinke. This number was 780 million in the same period last year.

Coupled with the sales of joint ventures and associated companies to obtain revenue of approximately 2.57 billion (last year’s figure was 14 million), these three items alone generated 16.38 billion in revenue this year, accounting for 28.4% of the profit before income tax.

The stock market and RMB exchange rate in 2020 have created a shining profit figure for Sunac.

In terms of performance sales, Sunac China’s contracted sales amount is approximately RMB 575.26 billion, which is 95.88% of the annual target, which is still a little short of the annual target of RMB 600 billion.

Sun Hongbin responded at the performance meeting: “With this control and the epidemic, we will sell 20 billion less. There is no need to get 600 billion. I can also get 6,500.” He is very optimistic about the industry’s prospects and believes that the urbanization rate should be 20. Point, the demand is very large, the industry development is still early, in the future there will be three companies with more than one trillion.

“Now everyone has underestimated how good the real estate industry is.” Sun Hongbin said.

From the perspective of the revenue of each segment, Sunac China’s property development will generate revenue of 218.8 billion yuan in 2020, accounting for 94.9%; cultural tourism city construction and operation revenue of 3.88 billion yuan, accounting for only 1.7%; property management 33.4 100 million yuan, accounting for 1.5%.

The 2020 financial report shows that Sunac China’s cultural tourism project has been launched in 39 cities in China. Sun Hongbin believes that with the approach of the Winter Olympics, the ice and snow industry will develop better in the future, and the cultural tourism industry will also usher in a new period of development.

Continue to acquire land and be optimistic about the rotation of the land sector

“China still has a lot of opportunities. Among the small cities, the small cities in Jiangsu and Zhejiang are all very good. We have to be optimistic about where the purchasing power is strongest and where the hot money will be. We can’t see how much land is more expensive than others or last time. Cities have judgment.” At the performance meeting, Hongbin Sun was confident in some third- and fourth-tier cities.

In 2020, Sunac slightly increased its land reserves in third- and fourth-tier cities, and land storage costs decreased slightly. As of the end of the reporting period, Sunac China’s land bank was approximately 258 million square meters, and the value of its land bank was estimated to be approximately RMB 3.1 trillion, of which approximately 78% were located in first- and second-tier cities, and the average land cost was approximately RMB 4,270 per square meter.

In contrast, in 2019, Sunac’s land bank value was 3.07 trillion yuan, of which more than 82% of the land bank was located in first- and second-tier cities, with an average land cost of 4306 yuan per square meter.

Sun Hongbin thinks this is a good thing for the policy of centralized land supply in key cities. “One of this policy is to ensure the growth of land supply, increase land supply, and also ensure the transparency of land. This allows everyone to know how much land will be provided this year. This policy is beneficial to enterprises in the development of core cities. of.”

In terms of land acquisition strategy, Sun Hongbin said that Sunac’s 58 city companies responsible for 120 cities can seize the opportunity of plate rotation and have a relatively large advantage in the open market.

The debt ratio has both fallen, “the three red lines are a good thing”

Looking through this annual report, in addition to high growth in business revenue and profit, financial data has also made a lot of progress. Sunac’s net debt ratio was approximately 96.0%, a decrease of approximately 76.3 percentage points from the end of last year; the unrestricted cash short-term debt ratio was approximately 1.08; the debt-to-asset ratio after excluding advance receipts was approximately 78.3%, a decrease of approximately 5.6 percentage points from the end of last year percentage point. The two red lines reached the standard, and Sunac’s financial situation further improved.

Wang Mengde said that the company’s debt indicators will continue to be optimized by 2023, and the last indicator will be completed ahead of schedule in 2022.

As of the end of the reporting period, Sunac China’s cash balance was approximately RMB 132.65 billion, and the total borrowing amount decreased from 32.22 billion at the end of 2019 to 303.4 billion.

The increase in cash and the decrease in total borrowings are attributable to Sunac’s strong operating business hematopoietic ability. Sunac China’s net cash flow inflow from operating business was 73.71 billion, net cash flow outflow from investment business was 17.23 billion, and net cash flow outflow from financing business was 35.38 billion. The cash inflow from operating business is 21.1 billion more than the cash outflow from investment and financing.

“The total debt has not increased in three years, and sales have increased so much. The debt ratio must have dropped. Regulation has made the industry safer.” Sun Hongbin said.

Baotuan stocks plummeted, fund redemption tide is coming?

A-share fund group stocks plunged again. Moutai fell below the 2,000 yuan mark, and the heavy holdings of public funds such as Yiwei Lithium Energy, Luzhou Laojiao, and Shanxi Fenjiu fell by 10%. In the 13 trading days since the Year of the Ox, Tongce Medical’s share price has fallen by more than 44%, which is nearly cut in half. The Shanghai Composite Index fell by 2.3% yesterday, and the ChiNext Index fell by nearly 5%.

fund redemption tide is coming?

The rapid decline of A-shares has caused the once-popular public offering funds to quickly pull back their net worth. Funds with net worth retracements of more than 10% abound. This has also aroused concerns in the market. Will the successive declines in the heavy stocks of funds trigger a “stomping” run?

However, public data shows that since the 13 trading days of the Year of the Ox, nearly half of the fund shares in the public ETF camp are still growing. A channel person from a large fund company also said: There must be redemptions, but the redemption wave is not enough.

Fund holding group shares all “discount”

Where is the worst discount on Goddess Festival? Not the major Internet platforms, but the stock market.

The military sector plummeted, and liquor, new energy vehicles, and photovoltaics were all being shipped madly. Adding blue chips to several small sectors, such as extractive services, carbon neutrality, and chemical industry, is bucking the trend. The Shanghai Composite Index fell 2.3% yesterday, and the ChiNext Index fell nearly 5%.

At the same time, the most widely spread yesterday was Zhang Kun, a 100 billion fund manager who frequently appeared on the hot search, and the E Fund small and medium-cap fund managed by him. According to the fund’s top ten heavyweight stocks at the end of the fourth quarter of last year, Luzhou Laojiao and Meinian Health fell by the limit yesterday, Tongce Medical fell 9.21%, and Yanghe shares and Wuliangye fell more than 7%. The two stocks that rose were Yutong Bus and Tiantan Bio (600161.SH), which rose 0.3% and 0.17%, respectively.

In fact, on March 8, the most severe discounts were indeed the heavily held stocks of the fund group.

Taking the “Beautiful 50” public fund as an example, statistics show that as of December 31, 2020, among the top 50 heavily held stocks held by public funds, only Ping An of China and BOE A rose on March 8 , The increase was around 0.6%. Yiwei Lithium Energy, Luzhou Laojiao, Shanxi Fenjiu and Longji shares fell 10% on the day. Aier Ophthalmology, Tongce Medical and other stocks fell more than 9%, and 25 stocks fell more than 5%.

If the time is stretched to 13 trading days since the Year of the Ox, 25 stocks have fallen by more than 20%, and 9 stocks such as WuXi AppTec and Yiwei Lithium have fallen by 30% to 40% over the same period. Cemed Medical’s decline in the same period reached 44.85%, and its share price rushed from its highest point of 392.57 yuan in the previous period to the current 214 yuan.

The redemption tide has not yet appeared

After the year, the heavy stocks of funds fell successively, which also caused market concerns: whether such a sharp decline will trigger a vicious circle of fund redemption-selling-redemption in panic-reluctant to sell and cash out, and then trigger a “stomping” run. So, is the redemption wave of public funds coming?

“The redemption tide is not there yet. At the moment, the redemption is mainly some new Christians, who can not bear the fluctuations and withdraw. Most experienced old Christians will choose to get down, because from the past history, there will be later Set a new high.” A source from a fund company said.

A channel person from a large fund company also said: “Redemptions are definitely available, but the redemption wave is not enough. The new foundations who came in this year, or some of the new foundations who came in the fourth quarter of last year, have already held funds with floating losses. Usually there is a floating loss, and the Citizens will often choose to redeem near the face value of the fund. At that time, the pressure on the fund manager will be greater. Of course, if the A-shares continue to decline rapidly in the future, the possibility of the Citizens choosing to cut the meat to stop the loss will also be large. improve.”

CITIC Securities Research Report pointed out that the median yield of publicly offered products has fallen from 10.7% before the Spring Festival to 0%, and the yield of its top 100 heavyweight stocks has also fallen from 18.3% to -1.6%. CITIC Securities believes that the possibility of redemption of publicly offered products is very low. On the one hand, channel research shows that there is no obvious redemption wave for stock products. During the rapid decline of the market, investors often do not stop loss and exit immediately, but wait and see for the market to stop falling and recover, and when the net value of the product is restored to a certain extent, redemptions will be gradually initiated. On the other hand, the valuation of the heavy warehouse sector of representative institutions has dropped significantly.

Haitong Securities issued a statement that the adjustment range of the index has exceeded market expectations and is currently in the stage of finding a bottom. Yesterday, the Changyin market broke the position, and the reason was that the group stocks within the market continued to drop. It is the decline of heavyweight stocks that has led to the decline of the index. The chain transmission of the market decline is the weight-index-market. The source lies in the weighted stocks such as core assets. Therefore, the weight of these core assets must first stop the decline before the market can stop the decline. At present, the weights and indexes have been significantly oversold, but the core assets continued to plummet, resulting in a substantial withdrawal of the fund’s net value, causing short-term redemptions by some citizens. Fund managers were forced to lighten their positions in response to the redemptions, causing heavyweight stocks to fall further. Thus formed a negative cycle. How to break this negative cycle still lies in the stop of the heavy stocks, the rebound of the index, the restoration of the money-making effect, and the restoration of investor confidence.

It is worth noting that when the market is still enthusiastically discussing the redemption wave that public funds may face, public data shows that nearly half of ETF funds have continued to increase their share since the Year of the Ox.

According to data from Wind, as of March 5, there were a total of 425 ETF funds in the two markets. Excluding new products established after the year, there were a total of 408 funds. The data also shows that from February 18 to March 5, a total of 197 ETF shares rose, accounting for 48.2%, which is nearly half of the proportion, 41 ETF shares remained unchanged, and 170 ETF shares fell slightly.

Big money should be put into these stocks immediately

A few days ago, FTSE Russell, a well-known index compilation company in the world, released the quarterly review results of its flagship index, FTSE global stock index series (GEIs), in February 2021. According to the announcement, a total of 129 A-share targets have been added to FTSE GEIs this time, including 13 large cap stocks, 16 medium cap stocks, 97 small cap stocks and 3 micro cap stocks, which are clustered in the pharmaceutical and biological and mechanical equipment industries, with 20 and 12 stocks respectively. The change will take effect after the close on March 19 (before the opening on March 22).

Big money should be put into these stocks immediately

This expansion, 11 Technology Innovation Board companies officially entered the FTSE GEIs index, which is also the first time technology innovation board stocks to enter the international market. The 11 companies of science and Technology Innovation Board include LanChi technology, RuiChuang Weina, Junshi biology, Haier biology, Western superconductor, kangxinuo, Zhongwei company, Hangke technology, Anji technology, China communication, Haohai Shengke.


According to the disclosed information, according to the 25% Inclusion factor, the inclusion of the FTSE GEIs index will bring about US $100 million (about RMB 650 million) of incremental investment funds for 11 enterprises in the science and technology innovation board. Considering the amount of capital driven, it is estimated that billions of funds will follow the market.


According to the previous plan, FTSE Russell only made routine technical adjustments to the index components this time, and did not involve changes in the A-share inclusion factor. It should be noted that this announcement is only a preliminary list, and FTSE Russell will slightly adjust the above list according to market conditions (such as the adjustment of Shanghai and Shenzhen Stock general standard). The final list will be determined before the effective date of the index.


China Merchants Securities said that the inclusion of the science and technology innovation board into the international market index is conducive to promoting the integration of the science and technology innovation board with the international market and improving the information disclosure level and corporate governance ability of listed companies. In addition, the science and Technology Innovation Board focuses on supporting high-tech industries and strategic emerging industries. Such enterprises have always been favored by overseas investors and are expected to attract more foreign investment in the future.

Exposure of concept stock list

According to South Korea’s gyeongshangbeidao fire station, at about 4:33 p.m. local time on January 29, an explosion occurred in the AGC glass substrate factory in the Guiwei Industrial Park, injuring nine workers and causing damage to the internal equipment of the factory. The local fire department believed that the explosion was caused by hydrogen or nitrogen remaining on the pipeline when workers were repairing the works in the factory.


According to the data, the turtle tail factory was established in 2004 by AGC, a subsidiary of Asahi Noko, a leading supplier of glass substrates in Japan. It mainly produces TFT-LCD glass substrates. The furnace in the factory was damaged by the explosion accident. At present, the furnace is being modified to produce generation 8.5 glass instead of generation 10.5 glass. It is expected that the explosion accident will affect the supply of generation 10.5 and 8.5 glass substrates.

The panel giant suddenly falls into the crisis of stop production! List of concept stocks exposed

Previously, another leading glass substrate factory also had production accidents. In December 2020, the glass factory of NEG, the world’s largest glass substrate manufacturer, was damaged due to an unexpected power failure. It is estimated that it will take four months to restore production capacity. The factory mainly supplies glass substrates of generation 8.5 or below. If the recovery situation is not as expected, it means that the supply gap of glass substrates will be expanded to 16-20 million square meters, equivalent to the four month capacity of an 8.5 generation panel factory.


The panel supply situation is tense, and the price rises by a large margin


Glass substrate is an important raw material of LCD panel, and its price trend affects the panel cost. Affected by the decline of glass substrate supply, panel prices continue to rise from May 2020. Taking the price of 32 inch panel as an example, the latest quotation in January was $68 / piece, which was more than 100% higher than the low of $33 / piece in May last year. Other sizes of panels also have a 50-100% increase. The supply and demand of large-size panels continue to be tight, and it is expected to maintain an increase of about US $5 from January to February.


The panel giant suddenly falls into the crisis of stop production! List of concept stocks exposed


In addition to the glass substrate, another raw material for the panel, wafer foundry capacity, is also in short supply, resulting in a shortage of display driver IC supply. According to supply chain sources, liandian and world advanced are planning to raise their quotations twice after the lunar new year, with a maximum increase of 15%. Under the background of the shortage of chips, the capacity of Lian Dian and other enterprises has been fully loaded, and the 8 – inch and 12 inch foundry prices have been raised. In an interview with the media, the world’s advanced chairman strategy said that at present, it seems that the tight state of 8-inch wafer OEM production capacity will continue at least to the third quarter of 2021.


Domestic manufacturers are expected to benefit from the launch of production lines in Japan and South Korea


In 2018-2019, the panel price will continue to be low, and the operating profits of major panel manufacturers will drop sharply. With the strong development of mainland enterprises, the competitive environment is becoming increasingly fierce. Under the pressure of profitability, many panel manufacturers in Japan and South Korea have announced to gradually withdraw from the market. LG display and Samsung SDC announced in 2019 that they will completely withdraw from the LCD production line by the end of 2020 and transform to OLED with higher profitability.

The panel giant suddenly falls into the crisis of stop production! List of concept stocks exposed

In the future, as more generation 10.5 lines are put into production, the capacity of domestic manufacturers will surpass that of South Korea and become the leader in the global panel industry. By 2021, the market share of domestic panel manufacturers in the global LCD TV panel market is expected to exceed 50%. After the withdrawal of Korean manufacturers, the proportion of large-scale production capacity of domestic panel factories is expected to increase from 44.8% in 2019 to 53.3% in 2020.


The list of panel concept stocks with pre increased performance is coming


According to the statistics of securities times · databao, there are 21 listed companies with panel production in the A-share market. On February 1, 14 stocks rose and 5 stocks fell. Rainbow shares, Shenzhen Tianma A and TCL technology were among the top gainers, up 6.69%, 5.74% and 5.12% respectively.


Benefiting from the rise in panel prices, some panel concept stocks have achieved substantial growth in 2020. Statistics show that the net profits of 10 listed companies in the panel sector rose year on year in 2020, and four of them are expected to double year on year, including BOE a, Ruifeng optoelectronics, * ST Huaying, Shenzhen textile A and Hisense video. Four other listed companies are expected to increase their net profits by more than 50%.


Leading BOE a announced on the evening of January 29 that the company is expected to achieve a net profit of 4.8-5.1 billion yuan in 2020, a year-on-year increase of 150% – 166%. According to the announcement, the increase in performance was mainly due to the relatively high prosperity of the semiconductor display industry compared with the same period last year, especially the sharp rise in the demand for it and TV products, and the continuous rise in product prices since mid-2020. The company’s flexible AMOLED product shipment increased significantly compared with that in 2019.


TCL technology, another leading technology on the panel, announced that it is expected to achieve net profit of RMB 4.26-4.46 billion in 2020, up 60% – 70% year on year. The company announced the acquisition of Samsung Suzhou production line with us $1.08 billion, and Samsung became the second largest shareholder of Huaxing. After the acquisition, TCL Huaxing will have three full-scale generation 8.5 lines in the large-scale field.


Since the beginning of the year, the panel concept stocks have risen to a large extent, and recently began to callback. Last week, the average decline of panel concept stocks was 6.45%, with six panel concept stocks having a correction rate of more than 10%. TCL technology and BOE fell by more than 13% in a week, and Longteng optoelectronics fell by 14.83%.

Sudden change! Pfizer’s new crown vaccine has another big news!

On Thursday, U.S. time, the three major U.S. stock indexes were mixed. The Dow rose 0.29%, the S&P 500 closed down 0.06%, and the Nasdaq closed 0.23% higher, setting a record intraday and closing record high. A series of U.S. economic data released recently has attracted widespread attention.

U.S. service sector growth slows in November, number of jobless claims drops

According to data from the American Institute of Supply Management, the service industry purchasing managers index in the United States in November was 55.9, which fell to the lowest level in the past six months, which means that the expansion of the US service industry has become more moderate. Another data shows that the number of people applying for unemployment benefits for the first time in the United States last week was 712,000, which was far lower than the 775,000 estimated by the Reuters survey and a significant drop from the previous value.

However, government regulators have previously stated that because the US Department of Labor uses a traditional estimation model, the statistical results may not accurately reflect the impact of the second wave of COVID-19 on the job market.
Pfizer cuts 2020 new crown vaccine production target by half, U.S. stocks dive late

About half an hour before the US stock market closed, local media reported that Pfizer, the US drugmaker, had cut its 2020 new crown vaccine production target by half, and Pfizer’s stock price closed down 1.74% following the news. This news also caused the three major U.S. stock indexes to collectively dive in the late trading, almost erasing all the gains during the session.

Mining stocks boost the London stock market

The three major European stock markets were mixed on Thursday. The London stock market rose 0.42% to close at a new high in the past six months. The Paris and Frankfurt stock markets closed down 0.15% and 0.45% respectively. In the London stock market in the United Kingdom, mining stocks led the way. In addition, British aero engine manufacturer Rolls-Royce’s stock price soared nearly 16% after reports that the company is considering re-entering the narrow-body airliner market.

Data show: Eurozone business activity shrank sharply in November

The other two major European stock markets performed in a downturn, as the latest data showed that the Eurozone’s comprehensive purchasing managers’ index fell to 45.3 in November from the previous value of 50, indicating a significant contraction in business activity in the Eurozone. In addition, the trade negotiations between the UK and the EU have not made progress, which has also suppressed market sentiment.

OPEC+ agrees to slightly increase production starting from January next year, crude oil prices turn from falling to rising

Crude oil prices closed up on Thursday. US WTI light crude oil futures closed at US$45.64 per barrel, and Brent crude oil futures closed at US$48.71 per barrel, reaching the highest level since early March. A key meeting of OPEC and related oil-producing countries was held on Thursday. The major oil-producing countries finally agreed to increase oil production by 500,000 barrels per day starting from January next year, which is much lower than the market’s forecast of an increase of 200 per day. 10,000 barrels, the price of crude oil followed the news from falling to rising intraday.

The United States may launch a financial rescue plan expected to help raise the price of gold

The price of gold rose on Thursday, and gold futures for delivery in February 2021 closed at $1841.10 per ounce. Investors bet that the negotiations on the US financial rescue plan will have a breakthrough and deploy gold to hedge against potential inflation.