On Wednesday, Guizhou Maotai shares plunged 5.11 percent to 2,189 yuan per share. Since the opening of the A-share market on the yellow calendar, within five trading days, Maotai shares fell from a high of 2,627.88 yuan per share to below 2,200 yuan per share, a drop of nearly 16%, with market value shrinking by more than 510 billion yuan.
On Feb. 24, all three major A-share indices closed down, with the Shanghai index down 1.99% to close at 3564 points; the Shenzhen index down 2.44% to close at 14870 points; and the GEM index down 3.37% to close at 3007 points.
Wind statistics show that on February 24, Shanghai and Shenzhen 2,061 rose, 1,935 fell, 178 flat; northward capital February 24, a total net outflow of 673 million yuan. Among them, the Shanghai Stock Exchange net outflow of 144 million yuan, the Shenzhen Stock Exchange net outflow of 529 million yuan.
At the close of business on February 24, the Oriental Fortune liquor sector as a whole fell 2.81%. Luzhou Laojiao fell, liquor fell 8.02%, Wuliangye, Shanxi Fenjiu, Shuijingfang fell more than 6%, Jin Hui wine, Gold seed wine, Kouzijiao, Jinshiyuan, Lao Bai Gan wine fell more than 5%.
Eastern Fortune Choice data show that since February 18 to February 24 for five consecutive trading days, the liquor index (803017.EI) Eastern Fortune liquor sector index fell from 11,176 to 9387, down 16%.
After-hours data show that as of the close of February 24, Wuliangye main capital net outflow of 1.945 billion yuan, Luzhou Laojiao main capital net outflow of 866 million yuan, alcoholic beverage main capital net outflow of 366 million yuan, Shanxi Fenjiu main capital net outflow of 277 million yuan, Jinshiyuan main capital net outflow of 100 million yuan.
As the leading liquor industry and capital hold subject, Guizhou Maotai following February 22 “fell on the hot”, February 24 again plunged 5.11%, reported 2189 yuan / share. Since the opening of the A-share market in the yellow calendar year, within 5 trading days, Maotai shares fell from a high of 2627.88 yuan/share to below 2200 yuan/share, a drop of 15.84%, shrinking 517.472 billion yuan in market value.
Interface News reported on Feb. 24 that industry insider Ouyang Qianli said that, for now, the decline in the liquor industry is not a fundamental problem, but mainly due to investors leaving the market. 2020, the funds had nowhere to go, holding the liquor to new highs, and now some of them are cashing out and leaving the market.
According to Du Meng, an independent economist and chairman of the China Enterprise Capital Alliance, Maotai’s most talked-about recent news should be the reduction of holdings by two large funds. According to media reports, the world’s largest fund holding Maotai, the Americas Fund Europe Asia Pacific Growth, reduced its holdings in Maotai, followed by the world’s largest China equity fund, UBS China Opportunities, which reduced its holdings in Maotai.
Du Meng said that the excessive rise of liquor, it is Time to adjust, the market will give expectations.
Chuan Cai Securities issued a research report on February 24, the national liquor commodity wholesale price index continued to rise. High-end wine Moutai, Wuliangye and Luzhou Laojiao batch prices continue to firm, moving well, inventory is relatively tight. 2020 quarter base is low superimposed on the 2021 yellow calendar New Year on the high-end wine terminal demand is strong, liquor differentiation status quo or continue to continue.
Some institutions also believe that the yellow calendar after the Chinese New Year, the public holdings of the stock a large adjustment, do not exclude the results of institutional transfer of positions. In addition, since the beginning of the year, private equity holdings of shares and operations are becoming more cautious, the valuation is at a high level of the sector or usher in a larger adjustment.
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