The market is weak, investors are more important to the company’s performance and valuation. The first quarter performance is less than expected Sanseviera (26.31-9.99%, diagnosis) opened down on March 15, reported 26.31 yuan, market value of 58.35 billion yuan.
Earlier, Triple 7 Entertainment just completed a 2.933 billion yuan capital raising, including Ruiyuan, China Europe, Jiaoyin Schroeder and many other public institutions, insurance and industrial capital subscriptions. The number of hundred holdings (11.16-3.38%, the diagnosis of shares) 15 also opened low, as of midday closing down 3.2%. Compared to the fixed price of 27.77 yuan, the institutions currently involved in the subscription have a floating loss.
Outside of Sansha, March 15 institutional hold stocks continued to weaken, Wind Mao index fell 3.99%, the components only China Merchants Bank (53.48 +0.30%, shares) red, Longi shares (81.97-10.00%, shares) once down, Sunshine Power (70.03-10.97%, shares) plunged 9.59%, Guizhou Maotai (1957.09- 3.40%,診股) fell 2.43%, the share price back to below 2,000 yuan.
First quarter performance is less than expected
Three Seven Entertainment March 12 evening disclosure of performance forecasts show that the first quarter of 2021 is expected to net profit of 80 million yuan to 120 million yuan, down 83.54% – 89.02% year-on-year.
The company said that the reason for the change in performance is that the company’s game business has the characteristic of first investment and then recovery, and in the first quarter of 2021, the company’s overseas game flow increased significantly, and the growth was mainly concentrated in the strategy-based category. As the products of strategy-based category have the characteristics of long operation Life cycle and large initial investment, it has a phased impact on the sales expense rate of the company in the first quarter of 2021.
According to the announcement, the decrease in net profit attributable to shareholders of the listed company in the first quarter of 2021 is due to fluctuations in performance caused by the phased investment in business development, and the investment in the first quarter is expected to be gradually recovered in the second to fourth quarters of the year, which will bring positive contribution to the sound development of the company’s business throughout the year.
In addition, Sanjiu Entertainment also released its 2020 earnings results, with net profit last year recording 2.776 billion yuan, up 31.28% year-on-year, although net assets per share were only 2.86 yuan, down 14.11% year-on-year.
Listed on the Shenzhen Stock Exchange in 2011, Sanjihun Entertainment focuses on the cultural and creative business based on the development, distribution and operation of mobile games and web games, as well as laying out Film and Television, Music, animation, VR, cultural and health industry, Internet children’s Education and social entertainment.
At present, Sanjiu has developed into one of the top three game developers and operators in this country. 2020 semi-annual report shows that the market share of the company’s domestic mobile game business further increased to 10.51% in the first half of the year. The highest monthly flow of the company’s domestic mobile games in operation exceeded 1.8 billion, with a combined total of more than 132 million new registered users and a maximum of more than 82 million monthly active users.
It is noteworthy that on March 7 this year, Sanjiu disclosed that the company’s fixed increase plan was participated by a number of institutions, the final confirmation of the allotted object is 14, raising a total of about 2.933 billion yuan, the fixed increase of the allotted object can be described as a strong lineup, including a number of public funds, private equity institutions, insurance funds and industrial capital.
Specifically, the public offering, including, Ruiyuan Fund, CB Schroder, Huaxia Fund, Yinhua Fund, China Europe Fund subscribed 702 million yuan, 570 million yuan, 202 million yuan, 169 million yuan, 166 million yuan; Taikang Life through its products subscribed a total of 403 million yuan; 10 billion scale private equity is also through its products cumulative subscription of 500 million yuan.
China Telecom’s listed company Hundred Holdings also participated in the subscription of Sanjiu’s fixed share, subscribing to 5,441,400 A shares of Sanjiu’s non-public offering with its own funds at a price of 27.77 yuan, with a subscription amount of 140 million yuan.
Compared to the fixed price of 27.77 yuan, the institutions currently involved in the subscription have a floating loss.
Mao shares continue to dive
Last week the A-share market as a whole or the state of the general decline, after a short rebound, A shares again into the second bottoming trend.
Institutions generally believe that the medium-term valuation pivot down the general trend has not changed, so the strategy is still defensive-oriented, adjust the position structure, performance growth can fully match or even hedge the valuation of downward species is still preferred.
March 15 morning trading, the three major A-share stock indexes opened low. As of midday close, the Shanghai index fell 0.61%, the Shenzhen stock index fell 2.21%, the GEM index fell 3.35%. On the plate, tourism, air transport, coal, steel, banks, hotels and restaurants and other sectors rose, lithium stocks, film and television stocks are active, brewing, health care, chemical fiber, semiconductors and other sectors fell. The institutional hold stocks are falling again.
Institutional hold stocks are still the hardest hit by the decline, Wind Mao index fell nearly 4%, the components of only China Merchants Bank in the red, Longi shares once fell, Tongze Medical (221.25-9.20%, clinic shares), Jinshan Office (295.48-10.38%, clinic shares) fell more than 7%.
Last year’s institutional long positions in sectors such as liquor and photovoltaics continued to dive on March 15. Among them, liquor stocks quickly lower, the plate index fell 3.27%. Constituent stocks, Shanxi Fenjiu (283.97-9.22%, shares) fell more than 8% led the decline, Luzhou Laojiao (191.74-8.99%, shares) fell nearly 7%, alcoholic liquor (129.25-7.81%, shares) fell more than 6%, Wuliangye (248.44-6.05%, shares), Yanghe shares (157.32-4.99%, shares) fell nearly 5% , Maotai fell more than 2% lost 2,000 yuan, as low as 1,965 yuan, market value of 2.48 trillion yuan.
Photovoltaic sector continues to go lower, sunlight power once fell more than 11%, Longi shares once fell, and then hit a new low in the year, the turnover of more than 7.4 billion yuan, Tongwei shares (31.10-7.69%, clinic shares), Goodway (188.85-11.88%, clinic shares), Oriental Sunrise (15.62-3.70%, clinic shares) and other declines in the forefront.
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