Collapse again! 70 billion chip big bull stocks drop limit, 130000 investors mentality explodes

category:Finance
 Collapse again! 70 billion chip big bull stocks drop limit, 130000 investors mentality explodes


In early trading today, Ziguang Guowei opened at a low level, and then plummeted by 8%. In less than half an hour, it was hit by a huge amount of sales orders. Its share price also fell from 124 yuan / share to 113 yuan / share, with the market value shrinking by more than 7 billion yuan.

By the end of the closing day, Ziguang micro closed its limit, with more than 10000 orders closed at 113.65 yuan, with a turnover of more than 3 billion yuan and a turnover rate of 4.32%.

According to the official website, Ziguang Guowei is mainly engaged in the design and sales of integrated circuit chips, including intelligent security chips and special integrated circuit business, which are respectively undertaken by two core subsidiaries of Ziguang Tongxin Microelectronics Co., Ltd. and Shenzhen guomicroelectronics Co., Ltd. In addition, the company is also engaged in power semiconductor device business and quartz crystal component business. It is a leading provider of integrated circuit chip products and solutions, with products and applications all over the world, It has formed a leading competitive situation and market position in the core business fields such as intelligent security chip, high stability memory chip, secure independent FPGA, power semiconductor devices, and ultra stable crystal frequency devices.

Big chip stocks this year

Net profit increased nearly 90% in the first three quarters

As of yesterdays closing, Ziguang Guowei has risen nearly 150% this year, reaching a record high of 160.8 yuan on August 7.

Data also show that since this year, the fund has increased the size of Ziguang Guowei.

On the evening of October 20, Ziguang Guowei released the third quarter report of 2020. In the first three quarters, the company realized operating revenue of 2.320 billion yuan, with a year-on-year increase of 23% after deducting the impact of changes in the scope of merger; the net profit attributable to shareholders of listed companies was 685 million yuan, with a year-on-year increase of 87.51%; the net profit after non deduction attributable to shareholders of listed companies was 624 million yuan, with a year-on-year increase of 66.57%. Looking forward to the whole year, the net profit is expected to reach 751 million yuan - 872 million yuan, with a year-on-year increase of 85% - 115%.

There are several opinions on the market for why the decline is stopped. One is that the performance of the third quarter is not as expected, but the growth rate of the third quarter is not only the highest in the same period of history, but also meets the expectations. This kind of statement seems to be unable to stand still; the other is good cash and capital delivery.

Some analysts pointed out that the market gave too high expectations or the main reason for the stock price collapse.

Guojin securities commented that the company reported in the third quarter that the companys Q3 sales net interest rate reached 33.31%, with a month on month ratio of + 7.28pct. The main reason for the substantial improvement of profitability is the narrowing of investment net income loss and the reduction of impairment loss. Among them, the narrowing of investment net income loss is due to the significant decrease of loss of the participating subsidiary (Ziguang Tongchuang), and the improvement trend of Ziguang Tongchuangs performance is expected to continue in Q4. The company expects the Q4 single quarter net profit to be 66-187 million yuan, which is significantly lower than the single quarter profit of the first three quarters. It has fully considered the year-end expense accrual and asset impairment, and the actual situation may exceed the expectation.

Due to the companys forecast of net profit in 2020, we lowered the companys net profit in 2020 to 871 million yuan (- 5.95%), maintaining the buy rating.

Zheshang securities commented that profits in the third quarter of 2020 reached a record high: the reason for the month on month growth of single quarter profit rate was mainly due to the sustained and rapid growth of special IC business. In the first three quarters of 2020, the net profit was RMB 685 million, which was + 87.5% year on year. It is estimated that the net profit attributable to the parent company will be RMB 849 million, RMB 1221 million and RMB 1.779 billion from 2020 to 2022, and the corresponding diluted EPS will be RMB 1.40, RMB 2.01 and RMB 2.93 respectively, maintaining the buy rating.

Investors are confused

The white horse and the thunder are rolling

Recently, almost one day, a white horse stock suddenly collapsed.

On October 20, China Resources, a chip giant, dived rapidly after the opening of the market, with a sharp drop of more than 12%. On October 19, fulette, the leading glass leader of photovoltaic industry, collapsed. Prior to this, Baima stocks such as Sanqi mutual entertainment, Xinwei communication, Shengbang shares, Wentai technology, China software, Baoxin software, Longji shares, anche testing, Chengmai technology and other white horse stocks dived in turn, causing market attention.

And these white horse stocks are also the fund group heavy positions of individual stocks, with the flash collapse of white horse shares, the net value of the fund is also affected.

In recent years, there have been frequent flash collapses of Baima shares, which is related to the excessive increase of Baima shares and the profit margin. In the past two years, due to the serious market differentiation, the funds have been chasing the Baima stocks with good performance, resulting in a high degree of ownership concentration of Baima shares. Moreover, some funds have made profits and settled by the end of the year. As some funds sell Baima shares, some white horse stocks will be sold collectively, So the phenomenon of flash collapse appears In this regard, Yang Delong, chief economist of Qianhai open source fund, thinks.