With the recent market recovery, the cumulative net value of private equity funds has also rebounded. As of March 21, the net value of more than 60 products in the private placement industry had risen back to the traditional early warning line of 0.8 yuan. Previously, a number of 10 billion private placement products touched the early warning line, raising the attention of the private placement industry.
From the previous private placement positions, according to the data of private placement ranking network, as of March 11, the stock private placement position index was 74.83%, down 0.97% month on month, and hit a new low this year. Among them, the private placement of stocks with positions of more than 80% accounted for 54.86%, and the private placement of stocks with positions of 19.73% was less than 50%.
Data from the China Foundation association also showed that private placement filing continued to be cold in February this year. The number of newly filed private equity funds was 1825, down 1810 from the previous month, down 49.79% month on month; The new filing scale was 35.844 billion yuan, a decrease of 60.043 billion yuan over the previous month, a month on month decrease of 62.62%.
In terms of the overall atmosphere reflected by the previous private placement positions, the overall mood of private placement is still not high, but from the aspect of the improvement of institutional research enthusiasm, it also reflects its optimism for the future market. From the institutional point of view, on the whole, for the future market, seeing more and doing more is still the mainstream operation in the industry.
private placement positions fall
Today, the trend of the main indexes of the two cities was divided. As of the close, the Shanghai index rose 0.19%, the Shenzhen composite index fell 0.49% and the gem index fell 1.39%.
In terms of sectors, real estate, oil and gas, coal, transportation and banking led the increase, while covid-19 concept, tourism, NMN concept and photovoltaic fell. More than 2600 stocks in the two cities fell, 97 stocks rose by the limit and 13 stocks fell by the limit. The full day turnover of the two cities was 960 billion yuan, 57.8 billion yuan lower than yesterday, and 922 million yuan was sold to the north.
Structurally, since the stage reached the bottom and continued the counterattack, the views from many institutions believe that there is no need to be overly pessimistic about the future performance of a shares. Recently, the market may be in the bottom grinding period, and the trading volume may shrink. Although there are still repeated risks in the short term, the situation similar to the sharp decline in the early stage may have ended.
However, from the perspective of previous private placement positions, the private placement ranking network data showed that as of March 11, the stock private placement position index was 74.83%, down 0.97% month on month, and hit a new low this year. Among them, the private placement of stocks with positions of more than 80% accounted for 54.86%, and the private placement of stocks with positions of 19.73% was less than 50%.
In terms of scale, the position reduction of 10 billion private placement was the largest. According to the private placement ranking network data, as of March 11, the position index of 10 billion private placement was 78.46%, down 2.28% month on month, also hitting a new low in the year. Among them, 59.74% of the 10 billion shares have more than 80% private placement positions, and 12.70% of the 10 billion shares have less than 50%.
Although from the perspective of the overall atmosphere reflected by the previous private placement positions, the overall sentiment of the market still needs to be consolidated, since March, although the market has undergone significant adjustment, institutional research has also shown signs of warming, and many private placements have taken positive actions.
Research from China Industrial Securities Co.Ltd(601377) pointed out that by the end of January this year, the net asset value of private equity funds had reached 6344 billion yuan, a record high, with 78843 funds. From the change (estimation) of long positions in stock private placement, as of March 4 this year, the proportion of long positions in stock private placement has decreased significantly from 84.8% at the end of last year to 71.6%, with a decrease of about 14 percentage points. Since the Spring Festival, private placement has significantly reduced its positions. At present, it is at the historical median level, and there may be room for further positions. If the private equity fund position increases by 1%, it corresponds to a capital increment of about 63.4 billion yuan.
which tracks are you optimistic about
It is worth mentioning that, according to the data, as of March 22, among the listed companies that have disclosed the annual report of 2021, there are private institutions among the top 10 circulating shareholders of 35 listed companies, with a total shareholding of 1.554 billion shares and a total stock market value of 20.367 billion yuan. Among them, 22 stocks became the key targets for new private equity holdings in the fourth quarter of 2021, while 6 stocks including China Jushi Co.Ltd(600176) , Wanhua Chemical Group Co.Ltd(600309) , Anhui Tongfeng Electronics Company Limited(600237) , Apt Medical Inc(688617) , Zijin Mining Group Company Limited(601899) and others were newly increased holdings of top stream private Equity Fund Gaoyi assets in the fourth quarter of last year.
From the perspective of the industries to which Gao Yi and other 10 billion private placement stocks belong, they hold more pharmaceutical stocks and chemical stocks. It is worth mentioning that China National Medicines Corporation Ltd(600511) , Kbc Corporation Ltd(688598) , Jiangsu Kanion Pharmaceutical Co.Ltd(600557) , Qingdao Tgood Electric Co.Ltd(300001) and others have obtained two private placement positions at the same time.
According to the data, as of the 22nd, Gaoyi assets held Rianlon Corporation(300596) , Anhui Tongfeng Electronics Company Limited(600237) , Jiangsu Kanion Pharmaceutical Co.Ltd(600557) , Zijin Mining Group Company Limited(601899) , Wanhua Chemical Group Co.Ltd(600309) , Apt Medical Inc(688617) , China Jushi Co.Ltd(600176) and other stocks at the end of last year.
the Zijin Mining Group Company Limited(601899) annual report shows that as of the end of last year, the three products managed by Gao Yi and Deng Xiaofeng held a total of 940 million shares, an increase of 20.8 million compared with the end of the third quarter of last year. In addition to Zijin Mining Group Company Limited(601899) , Gao Yi Xiaofeng Hongyuan, managed by Deng Xiaofeng in the fourth quarter of last year, also entered the list of Wanhua Chemical Group Co.Ltd(600309) top ten shareholders, holding 12.16 million shares. In addition, Gao yilinshan No. 1 managed by Feng Liu continues to hold Jiangsu Kanion Pharmaceutical Co.Ltd(600557) 235 million shares unchanged.
In the fourth quarter of last year, the newly acquired Chongqing Fuling Zhacai Group Co.Ltd(002507) 688 million shares held by the top private Jinglin assets remained unchanged, while the newly acquired 10.168 million shares China Merchants Property Operation & Service Co.Ltd(001914) , becoming the tenth largest circulating shareholder of the company.
In the fourth quarter of last year, 10 billion private placement Xuanyuan investment newly held Gansu Qilianshan Cement Group Co.Ltd(600720) 4091500 shares and Shanghai Tianyang Hotmelt Adhesives Co.Ltd(603330) 1383500 shares. Xuanyuan investment also continues to hold Xinjiang Zhongtai Chenical Co.Ltd(002092) , Qingdao Tgood Electric Co.Ltd(300001) , Willfar Information Technology Co.Ltd(688100) .
From this point of view, the improvement of the current institutional research enthusiasm reflects its optimistic outlook on the future market. Although the decline in positions reflects repeated concerns about the short-term market, from an institutional point of view, looking more and doing more is still the mainstream operation in the industry.
Among them, Wang Shuojie, general manager of Yuanwei investment, said that since this year, the lack of anchoring in the market has led to panic venting of funds and staged herding, but the market will return to the track of growth sooner or later. At the current time point, I still have confidence in the second and third quarters. This confidence mainly comes from the judgment of the industry and trend, as well as the in-depth study of macro and fundamentals over the years.
