The listing debut that peak, two days plunged 30%.
After a 20% drop in the previous day, on December 29, the share price of Cosmos Technology continued to dive. On the same day, KOSI closed at 128.11 yuan per share, a drop of 12.49%. In other words, between two consecutive days, the stockholders who hold KOS Technology suffered a “30CM” storm.
In fact, the recent share price of KOS Technologies has been “falling”. In just less than 20 trading days, the share price of science and technology has been nearly cut, from the beginning of the month of 245 yuan / share all the way down, now less than 130 yuan / share, the situation is quite miserable.
However, behind the plummeting stock price, there has been no significant change in the fundamentals of Cosmos Technology, and no major negative news has broken out. A large number of shareholders who have suffered investment losses have asked questions to the listed company and the secretary of the board of directors in various platforms, asking whether to conceal major shortcomings.
It is worth paying attention to the fact that KOSI Technology, a secondary new stock in the science and technology board, has encountered a large number of institutional research since its listing. And the LW list data shows that institutional funds for two consecutive years is fleeing. And previously there were several brokerage research report to give a buy rating, for the target stock price is also quite confident. However, the current research report in the public platform has been difficult to find traces.
Science and technology suffered “no reason to plunge”
In addition to the large consumer industry, the military industry has been openly bullish by many institutions in the near future, with slogans such as “the next liquor” incessantly. However, the recent plunge of the share price of “military industry rookie” KOSI Technology is quite surprising to the market.
After a sudden 20% drop the day before, KOSI’s share price continued to dive on December 29. After opening at a low of 138 yuan per share, KOS Technologies went all the way down, falling by more than 15% at one point, touching a low of 120.63 yuan per share.
On the same day, KOS Technologies finally ended at 128.11 yuan per share, down 12.49%. The volume for the day was 31,600 lots, with a turnover of 408 million yuan. That is, between the two consecutive days, the stockholders holding KOS Technology suffered a “30CM” storm.
After the market on December 29, KOS Technologies released an announcement of abnormal stock trading fluctuations, saying that after self-examination, the company’s recent daily operations are normal, the company’s directors, supervisors, senior management are normal performance, no significant changes. As of the disclosure date of the announcement, there is no material information that should be disclosed but not disclosed by the listed company and the controlling shareholder and the actual controller. The Company has not found any media reports or market rumors that may have a significant impact on the trading price of the Company’s shares, and has not found any other significant events that may have a significant impact on the Company’s share price.
Indeed, behind the plunge in the stock price, there was no significant change in the fundamentals of KOS Technologies, and no negative news was generated. Such “unjustified plunge” makes the market and investors “sit up”, various gossip has also been spread, such as performance decline, encountered overseas ban, institutional joint suppression and so on.
At the same time, a large number of shareholders with investment losses have asked questions to the listed company and the secretary of the board of directors in various platforms, asking whether the concealment of major shortcomings, as well as whether taxes are paid in full and on time, the number of orders in hand, whether the inflated profits, and even involving the “weekend rumors of the chairman was arrested” and other news, asking the secretary of the board of directors to confirm.
For the recent share price “fall”, KOSI Technology said on the SSE interactive e platform, about the recent fluctuations in the company’s share price, the company understands the feelings of shareholders, share price fluctuations by macroeconomic, market conditions, the company’s business, as well as investor expectations, the game between the main forces and other factors. Investors are urged to make prudent decisions and pay attention to risks.
As for the company’s business, financial data and other negative news, KOS Technologies replied that the company’s operation is normal and the projects are progressing in an orderly manner. The relevant financial data were prepared in strict accordance with the laws, regulations and regulatory rules, such as enterprise accounting standards and information disclosure rules, and were audited by the accounting firm and issued standard unqualified opinions.
In addition, on December 25, KOSI had replied to investors on the SSE Interactive e platform that there were overseas purchases of chips in its raw materials. In the context of the current severe situation of overseas sanctions, this situation is also considered by some investors as one of the reasons for the two-day plunge.
Institutional funds are fleeing
A large number of institutional funds appear on the LW list, superimposed on the recent research of a number of institutions, the stockholders’ round of questions does not seem to be empty.
December 28, science and technology because it belongs to the price limit of the daily closing price drop of 15% of the first five securities and on the LW list. Science and technology closed at 146.40 yuan that day, plunging 20.00%, changing hands 20.49%, amplitude 19.45%, with a turnover of 542 million yuan.
LW data show that a total of three institutional seats appeared on the LW list, respectively, ranked buy two, sell one, sell three, a total net sell 47.0739 million yuan.
After the stock price dived again, on December 29, KOSI once again on the LW list, the reason is that “for three consecutive trading days, the accumulated deviation value of 30%”. In this list, institutional flight figure more obvious, selling the top three are institutional seats, the total selling ratio of more than 10%.
In addition, since the end of October this year, less than two months of time, science and technology has received nearly twenty institutional research, including a number of public offering, brokerage research number more than once, such as Cinda Australia Bank Fund, Haitong Securities (12.45-0.08%, the diagnosis of shares), Eastern Alpha, etc..
From the point of view of the research questions and answers published by KOSI, the content is relatively bland and high repetition rate, such as the company’s business development history, command and control information processing equipment, information processing terminals and special modules and other major business introduction, the company’s future development plan and so on.
It is worth noting that several brokerages had previously issued in-depth research reports and given buy ratings for this new stock of KOSI, and they were also quite confident about the target stock price. However, the relevant research reports are now hard to find on the public platform.
For example, the Great Wall Securities (12.40 +1.14%, shares) two analysts had released in late November on KOSI Technology named “focus on military information processing equipment, leading benefit defense information technology demand” in-depth report, and gave a strong recommendation (for the first time).
Similarly, Haitong Securities research report called “military electronic information equipment rising star, high growth is expected to continue”. The research report said, taking into account the future high growth of science and technology, given 55-60 times the PE valuation in 2020, corresponding to a reasonable value range of 220.44-240.48 yuan, the first coverage, given “better than the market” rating.
Why does hardcore military industry fall down?
Public information shows that KOS Technology was established in February 2004, mainly engaged in the research and development, production and sales of military electronic information equipment and related modules. 2020 quarterly report shows that KOS Technology’s total revenue for the first three quarters was 342 million yuan, an increase of 53.68%; net profit attributable to the mother of 45.4771 million yuan, an increase of 120.51%.
In the main business, KOS Technology introduced that in the construction of national defense information technology, it participated in the development of command and control information processing systems, military radar information processing systems, military simulation training systems, fire control systems, anti-tank missile weapon systems, reconnaissance systems and other military equipment systems, the main products are command and control information processing equipment, software radar information processing equipment, portable wireless command terminals, other information processing terminals and special modules and a series of information technology equipment.
On October 22 this year, Cosmos Technology officially landed on the market of Science and Technology Board, with stock code “688788” and sponsor brokerage of Zhongtian Guofu Securities. In this issue, KOSI issued at 106.04 yuan/share, with 16,631,354,000 shares, accounting for 22.02% of the total share capital after the issue, raising more than 2 billion yuan in total.
In the high issue price of more than 100 yuan, the first day of listing, KOS Technology rose quite surprisingly, once soared 132% during the day, up to 249.80 yuan / share. October 22, KOS Technology to 219.51 yuan / share, the market value of 16.58 billion yuan. However, from the subsequent performance, KOSI shares can be considered “listed that peak”, and recently fell all the way.
It is worth mentioning that on several platforms, there are investors discussing negative rumors about the chairman of the board paying bribes and the chairman being arrested. In response, KOS Technologies replied that all directors and supervisors are performing their duties normally.
Public information shows that the current chairman, general manager and legal representative of KOS Technologies are all Liu Jiande. In addition, Liu Jiande is also the beneficial owner and the first shareholder of KOS Technologies, holding 37.93% shares of KOS Technologies. Liu Jiande is a 2019 China Science and Technology Innovation Outstanding Entrepreneur, Shenzhen High-level Professional Talent, Shenzhen Nanshan District “Navigator Talent”, and has long been engaged in the research and development of military electronic information equipment and related management.
In addition to the release of the stock trading abnormal fluctuations announcement, KOS also sunshine Liu Jiande’s own reply letter. In the reply letter Liu Jiande declared that, as the controlling shareholder and the actual controller, he does not have significant matters that should be disclosed but not disclosed about Cosmos Technology, and he and his concerted actions do not have the act of buying and selling the company’s shares during the period of abnormal fluctuations.
Where exactly is the secret source of KOS Technologies’ plunge? When will the trend of “falling and falling” be stopped? The market will continue to observe.
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