The previously rare “sky floor” has appeared frequently in A-Shares this year. Recently, several stocks, including Tianjin Tianbao Infrastructure Co.Ltd(000965) , Beijing Qianjing Landscape Co.Ltd(603778) , Hubei Three Gorges Tourism Group Co.Ltd(002627) , Xinjiang Guotong Pipeline Co.Ltd(002205) , have successively staged “sky floor”.
Concentrated in real estate, tourism, infrastructure and other sectors is the commonality of these stocks out of the sky floor. At the same time, almost all Tiandi board stocks have walked out of the trend of rising first, then falling again, accompanied by a high turnover rate.
This is far from the sector favored by the institution. In the latest monthly portfolio and recommendation list of the institution, the main sectors are power equipment, food and beverage, medicine and biology, electronics, banking, computer and other sectors.
Behind the sharp rise and fall, it seems to be a “feast” of hot money.
On April 12, Tianjin Tianbao Infrastructure Co.Ltd(000965) opened the trading limit shortly after, but suddenly opened the trading limit and fell rapidly in the last 20 minutes before the closing, and fell the limit in the last 5 minutes of the closing. On the same day, Tianjin Tianbao Infrastructure Co.Ltd(000965) turnover reached 30.34%, with a turnover of 3.685 billion yuan and a closing amount of 120 million yuan.
The next day, Tianjin Tianbao Infrastructure Co.Ltd(000965) opened with a limit of more than 400000 orders. On April 14, the stock continued its decline, closing at 8.01 yuan / share, down 5.09%.
Beijing Qianjing Landscape Co.Ltd(603778) the same is true. On April 13, the stock opened with a word limit, continuing the previous continuous rise. However, similar to Tianjin Tianbao Infrastructure Co.Ltd(000965) , its share price turned around in the late trading, plunged straight within 20 minutes before the closing and hit the limit at 14:47. On the 14th, Beijing Qianjing Landscape Co.Ltd(603778) again fell to the limit, to 4.96 yuan / share.
Hubei Three Gorges Tourism Group Co.Ltd(002627) , which had just resumed trading on April 13, appeared “sky floor” within 10 minutes of opening. After the opening of the limit, the share price quickly hit the limit. After that, although it rose, it still fell sharply by 7% to close at 6.71 yuan / share, with a turnover rate of 14.68% and a total market value of 4.953 billion yuan.
On the 14th, Hubei Three Gorges Tourism Group Co.Ltd(002627) saw a rapid decline, closing at 6.01 yuan / share, down as much as 9.09%. The good news of the company’s “intention to acquire the development and operation assets of the Three Gorges Dam Tourism Area” before the resumption of trading was also broken down.
More listed companies in a day between the emergence of the “sky board” to the “floor” and then to the “sky board” trend.
Also on April 13, Xinjiang Guotong Pipeline Co.Ltd(002205) opened for trading in less than ten minutes, and opened at around 10:00, with a sharp decline of 7% at 10:30. After the afternoon trading, it pulled up again, but failed to stabilize. It fell by the limit at 2:18 p.m., forming a “sky floor”. However, just five minutes after the limit, the situation changed again Xinjiang Guotong Pipeline Co.Ltd(002205) share price stretched again, and the intraday limit rose twice, forming a “sky earth sky board”. Then the limit was opened for the second time, and the share price closed up at 2.45% to 18.85 yuan / share.
In addition to the high amplitude of 20%, the turnover rate of Xinjiang Guotong Pipeline Co.Ltd(002205) reached 58.95%, ranking second in a shares. At the opening of trading on the 14th, Xinjiang Guotong Pipeline Co.Ltd(002205) fell to the limit and closed at 16.97 yuan / share.
There are also stocks with “Earth Sky board” in the session. On April 12, Ningbo Fuda Company Limited(600724) opened and fell to the limit. At 10:30, the share price hit the limit of 7 yuan / share, and then fell sharply in the late trading, with the share price rising by 2.04% in a single day. 13 am, Ningbo Fuda Company Limited(600724) share price firmly sealed on the limit. Today, Ningbo Fuda Company Limited(600724) shares fell sharply again to close at 5.38 yuan / share, down 7.88%.
For the situation of sharp fluctuations in share prices, many companies said there was no abnormality Xinjiang Guotong Pipeline Co.Ltd(002205) once said that the company’s recent business situation and internal and external business environment have not changed significantly; The company, the controlling shareholder and the actual controller have no major matters that should be disclosed but not disclosed about the company, or are in the planning stage; The controlling shareholder and actual controller of the company did not buy or sell the company’s shares during the abnormal fluctuation of the company’s stock trading.
hot money, hot money, or hot money
The reporter noted that the above-mentioned stocks have certain commonalities. For example, in front of the Tiandi board, the share price has risen for many days or even continuously.
In the seven trading days from March 31 to April 12, Xinjiang Guotong Pipeline Co.Ltd(002205) recorded seven consecutive trading limits. As of April 13, its share price has risen as high as 93.68% in seven trading days. Another example is Tianjin Tianbao Infrastructure Co.Ltd(000965) , it took only 18 days from 2.93 yuan to 11.46 yuan, during which 13 limits were recorded, with an increase of 282% Beijing Qianjing Landscape Co.Ltd(603778) the same is true. It has been rising for nine consecutive days since March 25, and it has been rising for three consecutive trading days before the “Earth Sky board”. Without exception, these stocks began to fall sharply.
“This is a typical hot money operation means.” A private equity fund manager told reporters: “the main reason for the formation of the sky floor is that hot money controls the circulation sector in a short time.”
In fact, the reporter did find a lot of hot money by consulting the list of individual stocks.
For example, Xinjiang Guotong Pipeline Co.Ltd(002205) , the dragon and tiger list showed that the top five trading seats of Huaxin securities were hot money on the 13th, and the cumulative net purchase of Huaxin securities Shenzhen Yitian Road, Orient Securities Company Limited(600958) Shenzhen Haide Third Road, Huatai Securities Co.Ltd(601688) Nanning Minzu Avenue, Huaxin securities Ningbo Branch, Everbright Securities Company Limited(601788) Kunming Renmin Middle Road business department was 167 million yuan Citic Securities Company Limited(600030) (Shandong) Liaocheng Dongchang East Road, shouchuang Securities Shanghai Gonghexin Road and Shanghai Liyang Road business department all sold more than 30 million yuan. Among them, Citic Securities Company Limited(600030) (Shandong) Liaocheng Dongchang East Road business department sold more than 100 million yuan, and the top five sold seats sold 259 million yuan.
On April 14, Xinjiang Guotong Pipeline Co.Ltd(002205) went on the dragon and tiger list again. There were not only no institutional investors in the top five seats bought and sold, but also many seats commonly used by hot money. The top four seats purchased are all from China stock market news securities, including the first business department of Tuanjie road in Lhasa, the second business department of Tuanjie road in Lhasa, the first business department of East Ring Road in Lhasa and the second business department of East Ring Road in Lhasa.
From April 7 to 12, Tianjin Tianbao Infrastructure Co.Ltd(000965) of the dragon and tiger list was also “occupied” by hot money. Among them, on April 7, the first five seats bought 359 million yuan and sold 500 million yuan; In the Dragon Tiger list from April 8 to 11, Huatai Securities Co.Ltd(601688) Wuxi First Financial Street, Zhongtai Securities Co.Ltd(600918) Hubei Branch, Guoyuan Securities Company Limited(000728) Shanghai Hongqiao Road business department, who were on the buying list on April 7, respectively, sold 173 million yuan, 114 million yuan and 106 million yuan, and the top five seats sold 697 million yuan.
Huaxin securities Shenzhen Branch, Huaxin securities Shenzhen Yitian Road, Huaxin securities Xi’an branch and Fang Xinxia’s China Industrial Securities Co.Ltd(601377) Shaanxi Branch bought 186 million yuan, 904586 million yuan, 863504 million yuan and 810558 million yuan respectively, with a cumulative purchase of 617 million yuan in the first five years.
On December 12-13, Shenzhen Branch of Huaxin securities, Shenzhen Yitian Road branch of Huaxin securities and China Industrial Securities Co.Ltd(601377) Shaanxi Branch of Huaxin securities became the main sellers in the “bullying list” of Longhu the previous day. The top five of Longhu list sold 565 million yuan in a single day.
generally insufficient performance
The continuous rise has been “snapped up” by hot money. What is the performance of these companies? The answer is general.
Tianjin Tianbao Infrastructure Co.Ltd(000965) previously disclosed performance forecast shows that in 2021, the performance is pre reduced, and the net profit is about 40 million yuan to 60 million yuan, a year-on-year decrease of 37.04% to 58.02%; Deduction of non net profit was about – 71.5 million yuan to – 51.5 million yuan, a year-on-year decrease of 155.20% to 176.64%.
Ningbo Fuda Company Limited(600724) released the annual performance report, which showed that the company’s operating revenue in 2021 was about 2.34 billion yuan, flat year-on-year; The net profit was about 361 million yuan, a year-on-year decrease of 14.49%. The net profit loss of Beijing Qianjing Landscape Co.Ltd(603778) 2020 is 804491 million yuan, and the expected loss in 2021 will expand to 170255 million yuan. Affected by the global covid-19 epidemic and the pressure of macroeconomic and industrial competition, the company’s main business income decreased compared with the same period of the previous year, the payment collection of some projects was poor, and the provision for credit and asset impairment losses increased. It is estimated that the credit impairment loss of this year is 115 million yuan and the asset impairment loss is 68 million yuan.
Xinjiang Guotong Pipeline Co.Ltd(002205) not only did the performance decline year-on-year, but also revised the performance forecast in a short time. On January 29, Xinjiang Guotong Pipeline Co.Ltd(002205) estimated that the net profit in 2021 will be 7.5 million yuan to 11 million yuan, a decrease of 33.09% to 54.38% over the same period of last year; The non net profit deduction range was 19.19 million yuan to 22.69 million yuan, an increase of 85.77% to 119.65% over the same period of the previous year. On April 6, after recording three consecutive trading limits, the company lowered the deduction of non net profit, which was 12.39 million yuan lower than the expected maximum deduction of non net profit before the correction. After correction, the company expects the net profit after deducting non recurring profits and losses in 2021 to be 7.5 million yuan to 10.3 million yuan, a year-on-year decrease of 27.40% to 0.29%.
That is, what is the speculation logic of hot money? Or is there logic?
The above-mentioned fund managers told that hot money speculation does have its logic, but it is usually very different from the logic of public funds. “Hot money likes a good concept of theme, not whether the company’s profits have improved. For example, tourism, even if the current downturn of the epidemic has improved the prosperity in the future, the continuous rise is now far higher than the normal valuation level. Another example is real estate and infrastructure, the rise and profit growth have long gone wrong. What’s left is emotion, investors in a hurry to get on the bus, and chicken feathers.”
