“Express Mao” S.F.Holding Co.Ltd(002352) ushered in the peak of lifting the ban on May 19. The day ended down 2.8%.
A total of 22 people have been lifted this time, including Chongyang investment, Jinglin investment, Quebec savings and investment group, the Central Bank of Norway, UBS AG and other well-known institutions.
The continuously depressed stock price performance has caused many institutions that rush for fixed growth to lose 3 billion yuan.
20 billion yuan of fixed increase and crazy rush of top flow institutions
Chongyang, UBS and other Chinese and foreign celebrities gather
According to the announcement on May 16 this year, S.F.Holding Co.Ltd(002352) 350 million restricted shares will be lifted on May 19, accounting for 7.15% of the total share capital of the company. The shares lifted this time are from the fixed increase project in November 2021. There are 22 restricted issuing objects, involving 130 shareholder securities accounts.
Looking back on November 17 last year, the fixed growth project of S.F.Holding Co.Ltd(002352) 20 billion yuan was robbed by many well-known investment institutions, and local state-owned assets and industry leaders also got a share.
For example, China’s well-known private placement Chongyang investment was allocated a total of 3.36 billion yuan through its two funds, and Jinglin investment’s two products were allocated a total of 1.16 billion yuan; Famous foreign investment institutions, such as Barclays Bank PLC (British Barclays Bank), Quebec savings and investment group, Central Bank of Norway, UBS AG (foreign UBS group), have received huge subscriptions.
Shenzhen state-owned assets also took part in S.F.Holding Co.Ltd(002352) fixed increase. Shenzhen Yuanzhi Credit Suisse mixed equity investment fund partnership (limited partnership) was allocated 590 million yuan, and its actual controller was Shenzhen SASAC.
In addition, the logistics industry leader also indirectly participated in the fixed growth. Hiseas Investment Co., Ltd. was allocated 1 billion yuan. Industrial and commercial registration data show that its controlling shareholder is COSCO Shipping Investment Holding Co., Ltd.
However, affected by the market downturn, S.F.Holding Co.Ltd(002352) share price has continued to fall this year. Based on the closing price of 48.6 yuan / share on the eve of the latest lifting of the ban, the reporter has a floating loss of 30% compared with the fixed issuance price of 57.18 yuan / share, and the total floating loss of participating subscription institutions is 3 billion yuan.
quarter on quarter turnaround, business back on track
Different from the floating losses caused by the sluggish stock price performance, S.F.Holding Co.Ltd(002352) has an excellent performance.
S.F.Holding Co.Ltd(002352) 2021 annual report shows that the operating revenue exceeded 200 billion yuan for the first time, reaching 207.2 billion yuan, a year-on-year increase of 35%; The net profit attributable to the parent company was 4.27 billion, a year-on-year decrease of 42%. In the first quarter report of 2022, the operating revenue was 62.98 billion yuan, an increase of 47.8% year-on-year; The net profit attributable to the parent company was 1.022 billion yuan, reversing losses year-on-year. Under the disturbance of the epidemic, the company achieved the best profitability in history in the first quarter.
The company has achieved good business results, mainly due to the company’s continuous focus on the core logistics strategy; Actively optimize the product structure and reduce the number of products with low gross profit; Lean cost control, improve input-output efficiency and other factors; Continue to promote the integration of four networks and strengthen the resource integration of sites and lines.
Recently, the State Post Office released the China Express development index report in 2021. The report shows that the National Express business volume completed 108.3 billion pieces in 2021, exceeding 100 billion pieces for the first time, with a year-on-year increase of 29.9%; Business growth hit a new record, reaching 24.94 billion pieces.
The report points out that the express industry continues its rapid development trend and its development momentum is still strong. Under the dual role of policy guidance and continuous governance, the provision of express services below cost has been initially curbed.
Capital Securities pointed out that the supply chain and international business have broad prospects. After investing in Kerry Logistics, the scale of the company’s international business and comprehensive logistics business has been significantly expanded. The production of Ezhou airport will promote the construction of “hub and spoke” aviation network, and the development of international business will be strongly supported in the future.
Perhaps in order to give an explanation to the institutions that increase and float losses, S.F.Holding Co.Ltd(002352) implemented a large share repurchase before. As of April 30, 2022, the company has repurchased 28642555 shares of the company through centralized bidding through the special securities account for share repurchase, with the repurchase fund of about RMB 1.506 billion (excluding transaction costs). The number of repurchased shares accounts for 0.59% of the company’s total share capital, and the average transaction price is 52.59 yuan / share. According to the latest closing price, these repurchased shares also suffered floating losses.
In the first quarter, some institutions also increased their positions against the trend. Danshui spring balance phase 5, a well-known private equity fund of Danshui spring, increased its holdings of S.F.Holding Co.Ltd(002352) 156 million shares in the first quarter, with a market value of more than 1 billion yuan. The Canadian pension plan investment committee, a well-known overseas institution, increased its position by 4.02 million shares, with a market value of more than 900 million yuan.
Are the well-known institutions of these quilt covers “cutting meat” to leave the field, or continue to stick to it? It has been highly concerned by the market.
