On The First Day Of The Listing Of Nine Herd Kings, 13% Retail Investors Lost Three Thousand In One Hand.

Joeone

[19.13 -13.05%] did not look as great as other A apparel companies.

Yesterday, the 22 yuan price issued by the nine Mu Wang on the first day of listing received 19.13 yuan, down 13.05%, becoming the second largest difference in the first day of the motherboard since the huge group [31.73 -2.37%].

Shareholders: "lose ten pants a day"

Men's trousers are the main business men's clothing sales enterprises.

After closing yesterday, 9 Mu Wang noon plate received 19.13 yuan, fell 13.05%.

According to this calculation, the 24 agencies participating in the offline sale have lost 68 million 900 thousand yuan.

In the net allocation agency, the number of shares invested by China Merchants Fund's credit and interest bond fund is the largest, and merchants credit Tianli has been allocated 3 million 343 thousand shares, losing 9 million 600 thousand yuan a day.

The crash is also a nightmare for the successful retail investors. The price of a signed stock fell by 13.05%, which means a loss of 2871 yuan.

Some investors said yesterday in a forum that they should fight new games.

In the two sign, yesterday lost 6000 yuan a day, "lost a dozen pants."

Double strike against valuation and market sentiment

After the issuance, the static P / E ratio reached 35 times, while the seven wolves had a static valuation of about 32 times.

Compared with companies such as Ordos [17.54 -1.96%], its valuation is even less advantageous.

From the gross margin data,

Once suspected of being whitewashed by the market.

A shares are currently listed in the apparel business, the United States apparel [29.88 -3.14%] gross margin stabilized at around 45%, seven wolves are around 40%.

But the data of nine Mu Wang show that in 2009 and 2008, the gross profit margin of two years was stable at around 47%, but jumped to 55.56% in 2010.

In addition to valuation factors, there is also an over pessimistic factor in market sentiment.

A fund manager of a fund company in Shenzhen pointed out that many IPO valuations had returned to a reasonable level in May, and a large break was not in line with the fundamentals.

- wealth

Billions of "Lin family" evaporate 1 billion 300 million a day

Washington (reporter Zhang Yufei) according to public information, after the completion of the issue of A shares, the top five shareholders of the nine Mu Wang are all controlled by Lin Congying and their relatives. The largest shareholder is the investment of nine Mu Wang, with a shareholding ratio of up to 58.91%, which is wholly owned by Chairman Lin Congying.

Among the other four major shareholders, Shun Mao investment, wise investment, platinum investment and Chi cube investment were controlled by Lin Congying's Chen's relatives.

Lin Congying and his family controlled 450 million shares of nine Mu Wang, accounting for 78.54% of its total share capital after listing, and the shareholding structure was highly familial.

Prior to market expectations, according to the issue price, the stock market value of the Lin Congying family will be as high as tens of billions, but with the stock market breaking up yesterday, the market share of the total stock held by the family was only 8 billion 608 million 500 thousand.

Among them, Lin Congying himself indirectly owns 337 million 500 thousand shares of nine herding kings through the investment of King Mu, and the market value is about 6 billion 456 million at yesterday's closing price.

Before listing, Lin Congying, chairman of the board, was exposed to illegal means to grab billions of assets of former chairman of the board and his uncle Lin.

But since then, Lin Congying responded by saying: Lin Qiren is trying to extort from the listing machine, the fact that it does not exist.