Why Will The Main Funds Of YOUNGOR Group Withdraw?

According to the world clothing shoes and hats net, the card company plays cards.

The news aroused heated debate.

According to the announcement issued by YOUNGOR, the company has reached 5% of its total shareholding line.

In the form of collective auction, the securities company increased its holdings of 680 thousand shares of YOUNGOR shares in the two tier market in June 5th, and its shareholding ratio increased from 4.99% to 5.01%, triggering the disclosure obligation after placards.

The company disclosed that in the six months ended June 4th, the company bought 81 million 700 thousand shares of YOUNGOR shares in a net paction price of 13.54-14.69 yuan per share, equivalent to 9.31-10.14 yuan per share after the cancellation.

The news of obtaining the placards of the certificate company promoted YOUNGOR's sharp rise in June 8th.

On that day, the stock closed up 4.9%, at 10.35 yuan, a 8.4% increase in intraday trading.

However, the main funds are running out.

Wind information data show that to a certain extent, the net outflow of large single and large single funds reflecting the trend of institutional capital is nearly 200 million yuan, reflecting a small net net inflow of 120 million yuan in the movements of retail funds.

The withdrawal of main funds shows that institutional investors are not entirely optimistic about the fundamentals of YOUNGOR.

Interface news has previously reported that YOUNGOR's ten year speculation has become an investment company.

However, the company's main business

Business continued to shrink, mainly from CITIC Securities and other minority stocks.

Since the market is still controversial about the fundamentals of YOUNGOR, why does the stock still get the holding company and invest for a long time? The essence of the problem is actually underestimating the value of the blue chip stock is becoming A shares.

The scarce category.

So far this year, in the direction of the Shanghai and Shenzhen stock market trend is unknown, the various agencies into the defense mode, the blue chip stocks or so-called "beautiful 50" pursued.

This is evident in the performance of the classification index.

Since the beginning of the year, the Shanghai Composite Index has risen 1.5%, with little change.

However, the Shanghai Stock Index 50, which reflects the performance of large cap stocks, has risen by 9.6%, reflecting the cumulative increase of 7.6% in Shanghai and Shenzhen 300 index.

The Shanghai stock dividend index, which reflects the performance of defensive stocks, rose 9.7%, or even more than the so-called "handsome 50".

By contrast, small cap stocks and gem are showing signs of weakness.

The CSI 500 index, which reflects the performance of small cap stocks, has fallen by 5%. The gem composite index, which represents the overall performance of all GEM stocks, has fallen by 11%. This reflects that the CSI 1000 index of Shanghai and Shenzhen super small stocks has fallen 13.5%.

Many large blue chip stocks were valued lower last year, and this year they rose sharply under the push of capital.

China Ping An (601318.SH) has risen 34.4% so far this year, rising to 12 times earnings per share in 2017.

For financial stocks, this valuation is no longer cheap, it can only be said to be in a reasonable range.

SAIC has paid dividends in the past two years, but its valuation has been rising slowly, with a P / E ratio of one digit.

Recently, the stock seemed to be concerned about capital and began to accelerate. The dynamic P / E rose to 10 times.

So far this year, SAIC has increased by 31.7%.

For example, GREE electric listed on Shenzhen Stock Exchange has risen 47.2% so far, and the dynamic P / E ratio has also risen to 12 times.

The market capitalization of China Ping An, SAIC and GREE electric appliances reached 510 billion yuan, 340 billion yuan and 210 billion yuan respectively.

It is impossible to achieve such a large increase in these big blue chip stocks without substantial capital support.

The stock market is too large to achieve such a big increase in less than six months, probably only because the agencies generally look good.

There are many examples similar to the three companies mentioned above.

The general rise of these blue chip stocks illustrates one problem: the investment style of the A share market is undergoing progress and pformation.

However, the general rise of blue chip stocks has also brought about a problem: the undervalued stocks are becoming increasingly scarce, and this is the reason why the company has deployed YOUNGOR in its portfolio.

It is impossible for the securities company to have a large amount of capital and complete the allocation of fundamental and flawless shares.

Many of the blue chip stocks have a daily turnover of less than 1%, and chips are becoming difficult to obtain.

YOUNGOR's fundamentals are controversial, but its performance is not bad.

It may also be a helpless choice for the securities company to choose the stock to enter the portfolio.

It is worth mentioning that the YOUNGOR's placards were attributed to the accident. Otherwise, it would not be known to the market that the YOUNGOR would be substantially increased in six months.

In the information disclosure, the certificate company said, "since the time of dividend to the market is later than the time of the market ex dividend, the information disclosure obligor has increased the shareholding of YOUNGOR, which has led to this change in equity."

In short, traders may be "Oolong".

YOUNGOR's 2016 annual allocation plan for each 10 shares to 4 shares to send 5 yuan in cash.

The dividend cancellation and dividend payment date was fixed in June 5th, but the listing of the shares was in June 6th.

This time lag has become the key to the "accidental" placards of the certification company.

Before the lifting of the card, the certificate company held 127 million 600 thousand shares of YOUNGOR, accounting for 4.99%.

When ex dividend is used, the trading system shows that YOUNGOR's total share capital has increased from 2 billion 560 million to 3 billion 850 million shares. However, due to the increase in shares, it is necessary to arrive at the next day. The stock holding company of the certificate company still shows 127 million 600 thousand shares, representing 3.56%.

The traders of the securities company may see that the shareholding ratio is far from touching the 5% placards line, and therefore the increase is held.

The next day, the pfer of shares to the stock market led to a breakthrough in the shareholding line.

Many financial institutions will diversify their assets when they invest, so as to avoid hitting 5% placards or entering the top ten shareholders.

Certification companies are no exception, because reaching these regulatory boundaries will not only lead to more disclosure requirements, but also expose their capital movements to counterparties.

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