Buy drunk funds to fight small liquor enterprises, big shareholders take the lead to sober up and take the opportunity to reduce holdings

category:Finance
 Buy drunk funds to fight small liquor enterprises, big shareholders take the lead to sober up and take the opportunity to reduce holdings


From the first line of liquor, to the third and fourth line liquor, and then to yellow rice wine and cocktails, the drunken trend of A-share market funds is becoming increasingly fierce. At the same time, the major shareholders of liquor listed companies have taken advantage of the situation to reduce their holdings. With the substantial outflow of funds, there is no suspense.

Hot money in and out frequently

Especially from the trading limit on November 19, Jinfeng liquor (600616. SH) continued to rise, achieving a 45.65% increase in just four trading days.

In the near future, the overall board of rice wine industry has shown an upward trend. The short-term fluctuation of the companys stock price is relatively large. The static P / E ratio of the companys stock is 170.23 times, which is significantly higher than the average level of the rice wine industry. After closing on November 24, golden Maple wine industry also said in the announcement.

Previous public reports showed that the fundamentals of golden Maple wine industry did not change much, and there was no news of capital operation, but the fund still chose to speculate.

On the 24th, the turnover of Jinfeng liquor industry reached 1242 million, while the market value of Jinfeng liquor industry was less than 5.5 billion by the end of the day.

Before that, Jinfeng liquor industry was on the list of dragon and tiger, which also dates back to March 2, 2017.

According to the dragon and tiger list on November 23, CICC fortunes Shanghai Huangpu District Zhongshandong 2nd Road business department, Everbright Securities Huizhou Maidi Road business department and Guotai Junan Shanghai Branch were among the top three seats on the buying list, with 50.9655 million yuan, 18.8977 million yuan and 17.2689 million yuan respectively.

On the 25th, the largest sales volume was the Sales Department of Everbright Securities, Huizhou Maidi Road, with a sales volume of 20834300 yuan.

According to public information, Jinfeng liquor is a listed company with yellow rice wine as its main business.

Since 2016, the companys net profit has been 54 million yuan, 49 million yuan, - 72 million yuan and 27 million yuan respectively. According to the third quarter report of this year, the revenue of Jinfeng liquor industry in the first three quarters was 410 million, a year-on-year decrease of 28.13%; the net profit attributable to shareholders of listed companies was 869000 yuan, which was 18.709 million yuan in the same period last year.

Shareholders reduction after the big rise

In fact, not only the yellow rice wine represented by Jinfeng liquor industry, but also the third and fourth line liquor and even cocktails have received high attention and speculation of funds recently. Since the end of September this year, small and medium-sized liquor enterprises have seen a huge increase. Since September 25 alone, four liquor companies have doubled their share prices.

The typical one is Jinhui wine (603919. SH). From October 9 to November 12, the stock price of Jinhui liquor rose 203.91%, and the static P / E ratio once exceeded 100 times. By comparison, Guizhou Maotai (600519. SH) has a static P / E ratio of less than 50 times.

At present, the speculation of some small wine enterprises has deviated from the fundamentals or have a large overdraft on the growth of performance, which is driven by funds. We think it is necessary to be vigilant against the impact brought by the fall of short-term sentiment. In this regard, CICCs report is rarely bearish.

In the process of rising stock price, the major shareholders of liquor listed companies have chosen to reduce their holdings.

On November 23, Yanghe shares (002304. SZ) announced that Jiangsu blue alliance, the two shareholders, had reduced 22.6267 million shares through block trading from November 18 to November 20, with a reduction ratio of 1.5% and a total transaction amount of 3.756 billion. Highland barley wine (002646. SZ) also announced that as of November 23, the controlling shareholders had reduced their holdings of 6.2788 million shares through centralized bidding and block trading, accounting for 1.4% of the total equity. By the end of the 25th, Yanghe shares fell 5.83% to 175.59 yuan / share. On the same day, Yanghe shares had a block trade of 1 billion yuan. The sellers seat was Huatai Securities Nanjing Caochangmen Street securities business department. The transaction price was 170 yuan / share, with a discount of 3.18%. Source of this article: Guo Chenqi, editor in charge of first finance and Economics_ NBJ9931

On November 23, Yanghe shares (002304. SZ) announced that Jiangsu blue alliance, the two shareholders, had reduced 22.6267 million shares through block trading from November 18 to November 20, with a reduction ratio of 1.5% and a total transaction amount of 3.756 billion.

Highland barley wine (002646. SZ) also announced that as of November 23, the controlling shareholders had reduced their holdings of 6.2788 million shares through centralized bidding and block trading, accounting for 1.4% of the total equity.

By the end of the 25th, Yanghe shares fell 5.83% to 175.59 yuan / share. On the same day, Yanghe shares had a block trade of 1 billion yuan. The sellers seat was Huatai Securities Nanjing Caochangmen Street securities business department. The transaction price was 170 yuan / share, with a discount of 3.18%.