Ningbo Xusheng Auto Technology Co.Ltd(603305) 2021 annual report shows that the four products managed by Deng Xiaofeng, chief investment officer of Gaoyi assets, reduced their holdings in groups at the market peak in the fourth quarter of last year. Since the beginning of this year, Ningbo Xusheng Auto Technology Co.Ltd(603305) fluctuated downward, and the share price has fallen by one-third during the year. Deng Xiaofeng’s selling time is accurate.
It can be seen from the regular report of Ningbo Xusheng Auto Technology Co.Ltd(603305) that Deng Xiaofeng began to buy at the market low point in the first quarter of last year, increased his position in the bottom building market in the following two quarters, and sold at the high point in the fourth quarter. The operation was very smooth throughout the year.
four products sold in groups
According to the Ningbo Xusheng Auto Technology Co.Ltd(603305) annual report, in the fourth quarter of last year, the holdings of the four products managed by Deng Xiaofeng were reduced, as shown in the figure below:
Since 2022, track stocks have been in a state of turmoil, especially in the new energy vehicle sector. The “leading brother” Contemporary Amperex Technology Co.Limited(300750) share price is still weak, and Ningbo Xusheng Auto Technology Co.Ltd(603305) as a new energy vehicle parts company has also fluctuated downward. From the stock price performance, the stock price was about 50 yuan at the end of last year. At present, the latest stock price has fallen to about 33 yuan, down one-third.
According to Deng Xiaofeng’s regular report on the circulation of products in the first quarter of the year, according to Deng Xiaofeng’s regular report. Considering that Ningbo Xusheng Auto Technology Co.Ltd(603305) the tenth largest circulating shareholder held less than 990000 shares by the end of 2020, it can be concluded that almost all the positions bought by Deng Xiaofeng were bought in the first quarter of 2021.
According to the regular report, in the second quarter of 2021, Gao yixiaofeng Hongyuan collective fund trust also appeared on the list of Ningbo Xusheng Auto Technology Co.Ltd(603305) top ten circulating shareholders, and the three products purchased in the first quarter were also increased. Four products appear in the list of major shareholders of a listed company, which fully shows Deng Xiaofeng’s optimistic about Ningbo Xusheng Auto Technology Co.Ltd(603305) .
At the end of July and the beginning of August 2021, Ningbo Xusheng Auto Technology Co.Ltd(603305) several trading days rose by more than 30%. However, judging from Deng Xiaofeng’s position, the position remained unchanged in the third quarter of last year. Ningbo Xusheng Auto Technology Co.Ltd(603305) rose again in the fourth quarter of last year, and Deng Xiaofeng may begin to reduce his holdings at the market peak in December.
The specific position changes are as follows:
Deng Xiaofeng’s above buying and selling operations can be seen more intuitively in combination with the stock price trend in the figure below. Deng Xiaofeng’s operation is very beautiful.
early warning of new energy risks
Although it has been adjusted in recent months, the new energy sector is still concerned by the market. Why did Deng Xiaofeng choose to sell? From Ningbo Xusheng Auto Technology Co.Ltd(603305) ‘s annual report, we may have a clue.
According to the Ningbo Xusheng Auto Technology Co.Ltd(603305) annual report, although the company is a leading company in the lightweight of new energy vehicles, its performance is average due to the rise of raw material prices, the increase of sea freight and other factors.
During the reporting period, the company achieved an operating revenue of 3.02 billion yuan, an increase of 85.77% over the same period last year; The net profit attributable to the owners of the parent company was 400 million yuan, an increase of 24.16% over the same period last year. The growth rate of net profit was significantly lower than that of revenue. Compared with other companies in the new energy sector, which often increase by 60-70% or even double, such performance is obviously poor.
In mid January this year, Deng Xiaofeng mentioned the investment risk of the new energy vehicle sector in his market outlook for 2022. Deng Xiaofeng said at that time that the field of electrification and intelligence in the new energy vehicle industry had passed the earliest and most challenging stage and entered the rapid development stage of self circulation. For the battery link with the highest market consensus, relatively clear competitive structure and winners, the market expectation has been relatively fully reflected to some extent, and the potential return on investment is relatively cautious.
In the field of complete vehicles, Deng Xiaofeng said that in the iterative process of the new energy vehicle industry, Chinese companies have participated in all links of the whole industrial chain and gradually entered the stage of more global competitiveness. Chinese companies not only have the opportunity to make breakthroughs in the local market, but also have the opportunity to sell their products to the world like smart phones and other consumer electronics products.
Although there are opportunities in the industry, Deng Xiaofeng said that this is an uncertain opportunity. There is great uncertainty about which company can come out, which requires us to observe and study. China Shanxi Guoxin Energy Corporation Limited(600617) automobile industry has a high probability of success, and there are opportunities for successful companies in every link. “Therefore, we need to grasp the certainty of industry success as well as the uncertainty of individual companies. This is a particularly challenging stage, and it is also a stage where fund managers have the opportunity to create excess returns and reflect their professional ability.”
Over the past year, the trading operation of Ningbo Xusheng Auto Technology Co.Ltd(603305) may be Deng Xiaofeng’s dynamic adjustment to industry changes, company development and even market changes.
