Technology white horse trading limit announced bond default! Overseas research unit exposure

category:Finance
 Technology white horse trading limit announced bond default! Overseas research unit exposure


The issuance scale of the bond is as high as 1.7 billion yuan. The principal of the current period is 200 million yuan, and the interest rate is 8%. The interest payable is only 16 million yuan. The interest payment date is yesterday. After the default, the company said in the announcement that it was actively taking measures to strengthen its own operation, strive to improve its solvency, and actively negotiate with creditors to ensure the interests of bondholders to the greatest extent.

However, according to the latest financial report, Dongxu photoelectric is capable of paying interest. According to the third quarter report of 2020, the company still has 9.465 billion yuan of monetary capital on its account, with nearly 10 billion yuan of cash lying on the account, but it can not pay the interest of 16 million yuan.

Dongxu optoelectronics used to be A-share high-tech white horse, with the highest market value of nearly 100 billion yuan in 2016. The companys main business is the export of electric vacuum glass devices and supporting electronic components and self-produced products, as well as the import of mechanical equipment, spare parts, raw and auxiliary materials required by the enterprise. Among them, the production capacity of liquid crystal glass substrate ranks first in China. However, after that, the stock price went down all the way, with the market value of more than 80% in four years, and the latest market value was only 16.8 billion yuan.

In the first three quarters of this year, Dongxu optoelectronics achieved a revenue of 4.583 billion yuan, a year-on-year decrease of 63.53%. The net profit attributable to the shareholders of the listed company was a loss of 1.214 billion yuan, a year-on-year decrease of 207.01%, including a loss of 318 million yuan in the third quarter, a year-on-year decrease of 209.26%.

In the financial report, the company said: on the one hand, affected by the epidemic situation and the shortage of working capital, the companys orders decreased significantly, and the business progress was slow, resulting in a significant decrease in revenue and profits; on the other hand, due to the issue of medium-term notes increased the coupon rate, interest expenses rose sharply, leading to a substantial increase in the companys financial expenses.

It is worth noting that this is not the first debt default of Dongxu optoelectronics. On November 17, Dongxu optoelectronics announced that 3 billion medium-term notes failed to be cashed as scheduled. In other words, Dongxu optoelectronics has defaulted twice in a row in nearly half a month, and the liquidity problem is very serious.

The two bonds had a record of default on November 19 last year, and the principal and interest to be paid in the current period totaled 2.01 billion yuan, and the companys share price fell three times in a row. In the face of the Shenzhen Stock Exchanges inquiry on bond default, the company repeatedly delayed its reply, and finally the Shenzhen Stock Exchange had to express high concern and remind the companys management to abide by laws and regulations.

In order to save themselves, the company also tried its best. After the close of business on November 27, the company announced that it would change the use of part of the raised funds, and permanently replenish the working capital with a total of 106 million yuan of the remaining raised funds in 2017, which was originally used for production project of new energy buses and logistics vehicles and upgrading and reconstruction project of the original production line of high alumina silicon cover plate glass.

Well known niusan heavy gold into, smart capital but take advantage of trading to escape

However, before announcing a default on the bonds, Dongxu optoelectronics first rose. December 2, OLED plate strong rise, Dongxu photoelectric afternoon abnormal, straight-line pull up, seal the limit. By the end of the day, Dongxu photoelectric reported 2.93 yuan / share, with a turnover of 865 million yuan, a turnover rate of 6.23%, and more than 110000 orders. On that day, the net inflow of main capital was 238 million yuan. It is worth noting that the main capital of the stock has been in a state of net inflow for three consecutive trading days, with a total of 264 million yuan.

According to the open trading information, the daily growth deviation of Dongxu optoelectronics reached 7%, many main players appeared on the dragon and tiger list, and the net trade difference of dragon and tiger list was 85.6452 million yuan. Many hot money bought a lot of hot money. The net purchase amount of buy one and buy two in longhubang was as high as 40.1289 million yuan and 33.4365 million yuan. The famous niusan crocodile also appeared on the dragon and tiger list, with a net purchase of 16.5204 million yuan, showing confidence in the company.

However, Beishang capital chose the opposite direction with the main force, and sold Dongxu optoelectronic stock substantially. The number one selling of dragon and tiger list is Shenzhen Stock connect, with a net sales of 22.7147 million yuan, far more than that of other dragon and tiger lists. It is worth noting that Beishang capital has been reducing its holdings of Dongxu Optoelectronics in recent years, especially in yesterday and November 30, respectively, reducing 8.1072 million shares and 4.7478 million shares, with a reduction rate of 17.74% and 9.63%.

Business department favors individual stock exposure, hot money institutions gather panel leader

Dragon and tiger list shows the sales departments view on the future of individual stocks. Which stocks are more favored by the sales department? According to the statistics of data treasure of securities times, on December 2, the net purchase of funds of sales department in Longhu list was 1.131 billion yuan, including 22 stocks purchased and 19 stocks sold.

In addition, the top stocks in the sales department were Hongda blasting, Jinpu titanium, Tongcheng new materials, etc., with the net sales amount accounting for 19.37%, 8.57% and 9.00% of the transaction volume on that day.

Among the preferred stocks in longhubang Sales Department, TCL technologys net purchase amount was as high as 591 million yuan, far higher than other stocks. Yesterday, TV panel prices continued to rise, OLED, miniled and other sectors continued to strengthen, TCL technology strong trading limit, large volume transaction of 6.7 billion yuan. According to the dragon and tiger list data, hot money institutions have all appeared on the list. In addition to the deep involvement of funds from the north, Fang Xinxia, Zhang alliance leader and other niusan also bought together, with a net purchase amount of more than 100 million yuan.

Hundreds of institutions intensively investigate African aircraft King

Generally speaking, the more intensive the research institutions go to the company, there may be greater opportunities for the stock in the future.

According to data bank statistics, in the past 10 days (from November 19 to December 2), 188 companies were surveyed by institutions. According to the types of research institutions, 153 securities companies were investigated, accounting for the largest proportion; 111 fund companies were investigated, ranking second; and 39 listed companies were visited by overseas institutions.

In the survey list of overseas institutions, 70 overseas institutions participated in the survey by voice holdings, which attracted the most attention; Huafeng measurement and Control Co., Ltd. was the second, with 42 overseas institutions participating in the survey.

In November, a total of 246 institutions and 420 person times investigated voice holdings. At the end of 2020, the company again attracted the attention of many investment institutions, including Everbright Securities, China Southern Fund, Guangfa fund and other well-known institutions. According to IDC data, the market share of voice holdings in major emerging markets is expected to increase again. In the third quarter of 2020, the market share of voice holdings in Africa will further increase from 52.5% of last year, and the market share of intelligent machines will continue to increase from 37% last year to more than 40%.

According to the third quarter report, in the first three quarters of the year, the company achieved an operating revenue of 24.971 billion yuan, a year-on-year increase of 48.15%; the net profit attributable to the parent company was 1.954 billion yuan, a year-on-year increase of 50.23%; the net profit after deducting non-profit was 1.748 billion yuan, with a year-on-year increase of 57.85%, and the overall performance of the company exceeded the market expectations. Among them, the companys revenue in the third quarter was 11.125 billion yuan, with a year-on-year increase of 75.17%; the net profit attributable to the parent company was 863 million yuan, with a year-on-year growth of 78.72%, with a very rapid growth rate.

From the perspective of stock price performance, stocks surveyed by overseas institutions have increased by 1.74% on average in recent 10 days. Among them, the stock price rose by 27.07% to aofu environmental protection and cobda to the best performance. There were 19 stock prices down, the biggest drop was Lingxiao pump, with a cumulative decline of 10.37%.

There are three stocks that announce the annual performance forecast. In terms of the type of performance forecast, there are three stocks in advance. According to the median growth rate of performance forecast net profit, BYD has the highest growth rate of net profit, and the annual net profit growth rate is 172.54%. (Wang Linpeng, databao)

Source: Securities Times editor in charge: Yang Bin_ NF4368