On March 16, Eve Energy Co.Ltd(300014) announced the latest shareholding of the top ten shareholders, including Qianhai Kaiyuan public utility stock managed by Cui Chenlong and Guangfa double engine upgraded and mixed positions of Guangfa double engine managed by Liu Gesong. Statistics show that as of March 10, 2022, Qianhai Kaiyuan public utility currently holds 207161 million shares, an increase of 61.37% over the fund’s position of 128378 million shares at the end of the third quarter of last year; GF dual engine upgrade hybrid currently holds 13163900 shares, an increase of 3216700 shares compared with 994.72 positions at the end of the third quarter of last year, with an increase of 32.34%. As of the closing on March 16, Eve Energy Co.Ltd(300014) has fallen 33.25% this year.
Cui Chenlong and Liu Gesong added “LiMao” against the trend
Since the beginning of this year, the sector represented by lithium battery has fallen fiercely. In particular, the production capacity of new energy vehicle enterprises has been restrained due to the rise in chip prices, and the related batteries, materials, motors and electronic controls have been implicated. The cumulative decline of “lithium Mao” Eve Energy Co.Ltd(300014) since the beginning of the year has reached 33.25%.
However, some institutions still increased their positions against the trend. On March 16, Eve Energy Co.Ltd(300014) released the latest statistics on the shareholding of the top ten shareholders. The results showed that Qianhai Kaiyuan Cui Chenlong and Guangfa fund Liu Gesong increased their positions against the trend.
According to Eve Energy Co.Ltd(300014) announcement, as of March 10, 2022, Qianhai Kaiyuan public utility industry stocks managed by Cui Chenlong held Eve Energy Co.Ltd(300014) 20716100 shares, compared with 12837800 shares held by the fund at the end of the fourth quarter of last year, 7878300 shares had been increased in the first quarter of this year, with an increase of 61.37%; In addition, the flexible allocation of Qianhai Kaiyuan new economy managed by him also entered the sequence of Eve Energy Co.Ltd(300014) top ten circulating shareholders, holding 122315 million shares.
GF Shuangqing upgraded under Liu Gesong’s management holds 131639 million shares, which is nearly 32.34% higher than the 9.9472 million shares held in the previous fourth quarter; Guangfa industry has also newly entered the top ten circulating shareholders of the stock in three years, holding 115567 million shares. In addition, Guangfa technology pioneer also held Eve Energy Co.Ltd(300014) , holding 13113300 shares in the fourth quarter of last year. However, as of March 10, 2022, its shareholding has not changed.
It is noteworthy that Cui Chenlong was the “double champion” of stock mix in 2021, while Liu Gesong rode the dust with the posture of “dark horse” in 2019. At that time, GF double engine upgrading, GF Innovation Upgrading and GF diversified emerging increased by 121.28%, 109.52% and 105.86% respectively during the year, including the top three active partial stock funds.
According to statistics, by the end of the fourth quarter of last year, the total scale of Cui Chenlong’s funds under management had reached 40.962 billion yuan, including 25.816 billion yuan for Qianhai open source public utilities and 14.262 billion yuan for Qianhai open source new economy; Liu Gesong’s Fund under management reached 77.335 billion yuan, the total scale of Guangfa double engine upgrading reached 13.902 billion yuan, and the total scale of Guangfa industry strictly selected for three years reached 15.534 billion yuan.
In addition, the purchase ceiling of Qianhai Kaiyuan public utility and Qianhai Kaiyuan new economy hybrid has been increased from 30000 yuan and 50000 yuan to 1 million yuan respectively since February 28. Cui Chenlong has previously invested 500000 yuan to purchase the two funds under his management.
both continue to be optimistic about the new energy sector
It can be seen from Cui Chenlong and Liu Gesong’s position increase of Eve Energy Co.Ltd(300014) that both of them have a high tolerance for the valuation of new energy related track stocks, which is in sharp contrast to the relevant conservatives, who disagree with the expectation of industry growth.
A person from the public offering community previously said in an exchange with reporters that lithium battery was once the most hyped field in the new energy vehicle sector, but there are many industry segments, including related topics such as motor, electronic control and heat conduction. He believes that the change of its valuation has a certain law.
Especially for the upstream scarce lithium, cobalt and other resource products, including positive and negative materials, electrolyte diaphragm, etc., with their scarcity and high technical threshold, the valuation given by the outside world is relatively high, and they are willing to admit that they have high growth expectations in the future. However, in the mid stream manufacturing end, complete sets of equipment and machinery end, the valuation and performance growth rate are relatively convergent, and the downstream tends to be more weak. However, when the market fluctuates, the valuation of companies with low performance growth rate is the most obvious.
However, for the view that the valuation matches the growth rate of performance, Cui Chenlong publicly said at the beginning of this year that he would not limit the evaluation of valuation and cared more about its future development space. For the choice of new energy track, he admitted that it is not for one or two years of investment opportunities to choose a track. My choice of track is to require it to have at least five to ten years of great opportunities and rising space.
“Space determines the long-term compound rate of return. For example, for a company, if I think it can rise 10 times in 10 years, but it has risen three times in the first year, I think the growth space behind is three times in 9 years, then this target may affect the long-term potential rate of return. I will kick it out and allocate stocks with better rate of return.” Cui Chenlong said.
Liu Gesong also concluded in the fourth quarter report of last year that the new energy sector has an upward catalyst for prosperity, benefiting from the background of carbon neutralization. For the situation of differentiation that occurred last year, he admitted that it may continue in 2022, but he stressed that under the business model of sustainable growth, at the stage when the growth rate of asset performance continues to exceed expectations, the market is more willing to give such assets a higher valuation level, and is optimistic about photovoltaic, power cells, energy storage, panels, new chemical materials, automobiles and auto parts, high-end equipment, etc, And said it would continue to pay attention to the asset allocation of the fund.
