According to a recent statement issued by the United States, the European Union, the United Kingdom, Canada and other countries, a number of Russian banks have been banned from using swift international settlement system.
On February 28, A-share CIPS and digital currency related concept stocks rose sharply, and financial technology theme ETF also had a good market performance. The reporter noted that Feng Mingyuan and Li Wenbin, star fund managers, had appeared in the list of shareholders in the previous three quarterly reports of Shenzhen Forms Syntron Information Co.Ltd(300468) , Beijing Infosec Technologies Co.Ltd(688201) and Beijing Infosec Technologies Co.Ltd(688201) stocks whose daily limit rose on the same day.
for whether this market is a short-term theme or a long-term main line, the institutions have expressed their respective views. Huaxia Fund believes that if Russia’s swift system is completely cut off, it will form a great reaction to Europe and the United States. Therefore, the scope of this sanctions is limited, and the main purpose is to deter the ceasefire
Great Wall Fund said that the sanctions will increase the market’s attention to digital currency and other related concepts. Digital currency, as a long-term main line, is worth continuing to be optimistic.
CITIC Prudential Fund believes that the replacement of swift system is a long-term demand, but the performance elasticity of the track is relatively limited, and the heat of related topics is relatively short-term.
a-share CIPS and digital currency sectors rose sharply
According to the joint statement issued by the United States, the European Union, the United Kingdom, Canada and other countries on February 27, many Russian banks are prohibited from using swift international settlement system.
At present, Russia has no mature digital currency system. Earlier, Xinhua News Agency reported in Moscow that the first vice president of the Russian central bank said that the Russian central bank planned to start the digital ruble test in the first quarter of 2022, and then determine the road map for the next development of the country’s digital currency.
Affected by this news, CIPS (RMB cross-border payment system) and digital currency related concept stocks ushered in a wave of open door surges in early trading on the 28th, and the CSI fintech index closed up 2.53%. The performance of the digital currency sector was particularly strong, with the wind digital currency index up 3.68%.
In terms of ETF, although there is currently no ETF themed fund with CIPS or digital currency as the theme, the relevant financial technology theme ETF has made a positive market response.
As of the closing, Huabao CSI fintech ETF closed up 2.73%, ranking the fifth in the rise of ETF in the Chinese market that day. Boshi financial technology ETF closed up 2.69%, and Huaxia CSI financial technology theme ETF closed up 1.48% Yusys Technologies Co.Ltd(300674) , Lakala Payment Co.Ltd(300773) and other constituent stocks rose gratifyingly driven by CIPS and digital currency related market on the same day.
Specifically, at the individual stock level, related concept stocks Brilliance Technology Co.Ltd(300542) , Shenzhen Forms Syntron Information Co.Ltd(300468) , Orient Group Incorporation(600811) , Hyunion Holding Co.Ltd(002537) , Beijing Infosec Technologies Co.Ltd(688201) , Sunyard Technology Co.Ltd(600571) , etc. ushered in the daily limit.
digital currency concept is concerned by star fund managers
check the previous position data of several concept stocks that rose the daily limit, and you can see the figure of some star fund managers
According to public data, at the end of the third quarter of last year, Cinda Aoyin new energy industry fund, headed by Feng Mingyuan, held Shenzhen Forms Syntron Information Co.Ltd(300468) , accounting for 0.45% of circulating a shares.
Shenzhen Forms Syntron Information Co.Ltd(300468) is a software company that provides financial services to mainland China and Hong Kong and Macao banks with core business of large commercial banks as its core customers. IT is a software company that provides professional financial services to Chinese mainland and Hong Kong and Macao banks. The company’s business types include software development services, application maintenance and system integration.
In its previous research report, Anxin Securities pointed out that Shenzhen Forms Syntron Information Co.Ltd(300468) prospectively laid out digital currency and blockchain technology, has the ability of all-round R & D and delivery from the underlying platform of blockchain to application solutions, and has accumulated rich experience in the field of encrypted digital assets such as digital currency and application-based pass.
In addition, Shenzhen Forms Syntron Information Co.Ltd(300468) recently completed a fixed increase of 400 million yuan, and the allocated institutions include “familiar face” CAITONG fund, Huaxia Fund and Nord fund in the fixed increase sector.
Li Wenbin of Wanjia only took shares in Beijing Infosec Technologies Co.Ltd(688201) Beijing Infosec Technologies Co.Ltd(688201) is one of the companies in which CIPS units participate in the shares and construction Beijing Infosec Technologies Co.Ltd(688201) the standard transceiver project of RMB cross border payment system (CIPS) has been recognized by many banks.
As for the newly disclosed positions, as of the end of the third quarter, Beijing Infosec Technologies Co.Ltd(688201) ‘s positions include four funds managed by Li Wenbin, namely, Wanjia domestic demand growth for one year, Wanjia science and innovation board for two years, Wanjia science and innovation board for three years and Wanjia strategic development industry for three years. The total positions account for 9% of the circulating a shares. Among them, 10000 domestic demand increased for one year, holding 700000 shares of the company, accounting for 3.71% of the company’s circulating a shares.
long term main line or short-term good
In view of the hot market of CIPS, digital currency and other sectors today, Huaxia Fund believes that under the current international situation, the RMB cross-border payment system (CIPS) system is particularly critical. In addition, the advantages of digital currency will also be highlighted. The digital currency of the distributed accounting system completes the comparison and verification while paying. It is endorsed by the central bank. There is no problem of mutual trust. It is an ideal cross-border payment tool.
Huaxia Fund pointed out that although the power of the comprehensive ban on swift system is comparable to the “financial nuclear bomb”, the current public statement actually limits the scope of the sanctions to “several major banks”. Public information shows that these banks are not mainly involved in energy transactions.
For the EU, kicking Russia out of swift means cutting off the channels for importing natural gas and crude oil from Russia. At present, the prices of natural gas and crude oil have been soaring, which will lead to higher inflation in the future.
In addition, according to the data of the bank for International Settlements, the entities based in Russia owe about US $121 billion in assets to foreign banks around the world. If swift is cut off, these debts will be difficult to recover. This sanction may also encourage the development of swift alternatives and eventually threaten the dominant position of the US dollar.
Considering that the sanctions also have a considerable reaction to Europe, Huaxia Fund believes that the sanctions are still mainly based on deterrence, and its main purpose is to hope for a ceasefire in Russia.
The chief economist of the Great Wall Fund told Weida that the enlightenment brought by the Russian Ukrainian conflict to China is obvious. European and American countries should pay attention to the prohibition of swift by major financial institutions in Russia. The market’s attention to digital currency is likely to increase, and the digital currency sector continues to be within the three main lines he is optimistic about.
According to Liu Rui, fund manager of CITIC Prudential, the rise of CIPS and digital currency on Monday is closely related to the conflict between Russia and Ukraine. As far as China is concerned, there are two main development directions. On the one hand, it is to vigorously develop its own swift alternative system, that is, China’s CIPS system, which has been widely popularized in recent days. On the other hand, skip the traditional inter-bank transaction and calculation system and directly vigorously develop digital currency.
“From the long-term trend, the replacement of swift system is an objective demand. It is expected that these two businesses deserve attention.” Liu Rui told Chinese reporters of securities companies. However, for the hot market of relevant sectors, his judgment is more inclined to the short-term theme, “the performance elasticity of relevant tracks is relatively limited.”
