Technology stocks are now at a high level to reduce 406 companies to throw 820 reductions

Technology stocks are now at a high level to reduce 406 companies to throw 820 reductions
Is the tide reduction coming again?  Recently, technology stocks have performed, but at the same time, the previous highs have been reduced.Lianglian Technology Co., Ltd. Jingfang Technology (603005.(SH) Shareholders’ liquidation and reductions have caused the market to pay close attention.  More than Jingfang Technology, Suzhou Gujing (002079.SZ), Halo New Network (300383.SZ), Shanghai Xinyang (300236.(SZ) have all announced announcements this week about their major shareholder reduction plans.  ”On the whole, the proportion of current technology stock reductions is not high, and the relative impact is not large, but from the perspective of the emergence, the trend of increasing and reducing holdings will not be ruled out in the future.The large deviations of some stocks are also outside of following strong stocks.”Ma Tingting, chief investment adviser of Huaxun Investment, told First Financial reporter.  In addition to the reduction of individual stocks in the high-rising sector, from 佛山桑拿网 the perspective of the entire market, according to wind statistics, since 2020, there have been more than 800 reduction announcements in the two cities, and 406 listed companies are reducing their holdings.According to market data, in the past January, the secondary market for industrial capital had a net reduction of 31.4 billion.  Reduction of tide?Some people believe that the number of reduction plans in January increased, but the overall decline compared to December 2019, the short-term impact on market conditions is small.  In the past three years, Jingfang Technology has frequently reduced its holdings. The same night that Jingfang Technology continued to create a record high, a clearance announcement was issued.  In the first two trading days of this week, Jingfang Technology daily limit for two consecutive days, has reached 114 on February 18.95 yuan / share, a record high, after the day’s rankings show that the well-known hot money seat Yinxing Securities Shaoxing Road sales department ranked first in the purchase amount, about 2.500 million yuan.  The announcement of a reduction in shares appeared in the evening of the day.The company stated that it holds 1 share.OV-HK, a 28% shareholder, plans to reduce its holdings by no more than 2.94 million shares within 6 months after 3 trading days, that is, no more than 1 of the company’s total share capital.28%.Based on the company’s closing market value of US $ 26.4 billion on the day, OV-HK closed this position to reduce its cash holdings by approximately 3.3.7 billion yuan.  It is worth noting that this reduction is the second time in the year of Jingfang Technology, and the last reduction was EIPAT, the company’s largest shareholder.  In the evening of January 22 before the holiday, it held 10 shares.71% of major shareholders EIPAT said that it plans to reduce its holdings by no more than 2296 from July 22 this year.790,000 shares (not more than 10% of the company’s total share capital.One day in the military, the daily limit of Jingfang Technology reached a peak of 84.98 yuan / share.The next day, Jingfang Technology fell 4.8%, but individual stocks continued to grow after the holiday.  Looking at the serial port line, “reduction” has been around Jingfang Technology for nearly three years.  Following the listing on the Shanghai Stock Exchange in February 2014, the ban on some initial restricted shares in 2017 was lifted, and Jingfang Technology’s shareholders reduced their cash holdings to a large cash flow.  Reporter According to Wind’s incomplete statistics, since the beginning of November 2017, Jingfang Technology has carried out a total of 8 reductions.Among them, EIPAT, Anglo-Philippines China and Singapore have repeatedly reduced their holdings to cash.During the year, EIPAT triggered another plan to reduce its holdings by no more than 10%.  Jingfang Technology merged multiple technology categories, including Huawei, domestic chips, Apple and other concepts throughout, and the largest expansion since the start has reached 5 times.The pre-increasing performance of the company is a major motivation to stimulate its soaring.  However, compared with Jingfang Technology’s continuously rising recognition and market value ratio, its profit is not noticeable as a whole. Judging from last year’s performance, the fourth quarter has made significant efforts.  According to the company’s 2019 performance report, the net profit attributable to shareholders of listed companies will be gradually consolidated.0.2 billion to 1.09 million yuan, an annual increase of 43.41% to 53.25%.Among them, the net profit attributable to shareholders of listed companies in the fourth quarter of last year was about 50.08 million?57.08 million yuan.After replacing non-recurring gains and losses, the combined total net profit attributable to shareholders of the listed company is approximately 61.58 million yuan to 68.58 million yuan, an increase of 149 per year in 2018.90% to 178.31%.  The profit is about $ 100 million, but the company’s total market value has exceeded 20 billion.As of the close of February 19, Jingfang Technology has a total market value of about 254.500 million yuan.In terms of static price-earnings ratio, Jingfang Technology also far exceeds the industry average.As of the close of February 18, the company’s static market surplus was 371.20 times the average static market surplus of 111 in the computer, communications and other electronic equipment manufacturing industries.76 times.  High-tech stocks have been collectively attacked to reduce their holdings. The high-tech stocks that have recently suffered reductions are not only Jingfang Technology.  Judging from the announcement this week alone, Suzhou Gujing’s controlling shareholder plans to reduce its holdings by no more than 3%; Halo Xinwang’s controlling shareholder plans to reduce its holdings by no more than 2%; Shanghai Xinyang’s three shareholders plan to reduce their holdings by no more than 1.04%.Prior to the reduction, the above-mentioned stocks all reached historical or stage highs.  Between the Chinese New Year holidays, Chengmai Technology (300598.SZ) The intraday merger on January 22 created a new all-time high of 230.18 yuan / share. The controlling shareholder has proposed a reduction plan and intends to reduce its shareholding by no more than 3%.  Initial people suggested that attention should be paid to the subsequent rise and reduction of technology stocks.”The overall proportion of existing technology stocks to reduce their holdings is not high, and the relative impact is not great, but from the observation point of view, the trend of rising and reducing holdings will not be ruled out in the future.The large deviations of some stocks are also outside of following strong stocks.”Ma Tingting thinks.  Behind shareholder reductions and institutional sell-offs, has the growth logic of technology stocks changed?  ”Tech stocks will be one of the main lines this year, but one stock is not recommended to chase up.Tech stocks that have just started to rise or are on the way can be concerned.”An investment agency person told reporters.  Some private equity institutions say that growth stocks include technology stocks, and are still the main market at this stage.The recent rally has not been comprehensive, but has more taken on the style of previous growth stocks.  Reduction of tide?  Except for the science and technology sector, from the perspective of the entire market, from the beginning of 2020 to now, reductions have occurred one after another.According to Wind data, from 2020 to date, there have been 820 reductions in holdings (still underway), involving 406 listed companies.  Among them, from the perspective of the proportion of the upper limit of the number of shares to be held in total equity, Bangxun Technology (300312.SZ) ‘s controlling shareholders and concert parties intend to reduce the shareholding limit to 44.74%, ranking first; New Hongze (002836).SZ), Yangtze River Health (002435.SZ) Some shareholders intend to reduce the shareholding limit by more than 10%.  Looking at the overall scale, in the past month, A shares have been reduced by more than 30 billion.In January this year, the plan to reduce holdings increased, but the amount of industrial capital reductions decreased.According to data from Haitong Securities, in January 2020, the secondary market of industrial capital had a net reduction of 31.4 billion, and in December 2019, a net reduction of 65.8 billion.  From the perspective of the sector, industrial capital has a net reduction of 98 on the main board.500 million yuan, small and medium-sized board net reduction of 145.400 million, GEM net reduction of 70.2ppm, net increase / decrease in holdings / unlocked city valuation -3.11%, -7.83%, -25.63%, GEM has the largest reduction.  ”In the long term, industrial capital appreciation and reduction can be used as a signal to judge the market’s major turning point, and in the short term, the change in industrial capital is greater than before, and has not greatly affected market conditions.”” Haitong Securities’s Yu Yugen team believes.