White horse stocks in China free Tuesday afternoon flash crash down, reported 265.85 yuan, sealed single nearly 11,000 hands, turnover of more than 4 billion yuan, while the early China free once rose more than 2%.
On Tuesday, the morning once opened high, up more than 7% of China CDF, after the afternoon suddenly flash crash down. As of the close, the share price was 265.85 yuan, with a turnover of 6.55 billion yuan, and the latest total market value of 519.066 billion yuan.
Since February 18, as of April 13, China CDF accumulated from the high point fell more than 30%.
Data show that China CDF ranked seventh among the 10 stocks with the largest market capitalization held by public funds in the fourth quarter of 2020; as of Dec. 31, China CDF ranked sixth among the 10 stocks with the largest market capitalization held by public funds in 2020; in addition, China CDF also ranked among the top 10 longest positions of foreign investors in 2020.
Based on the annual report disclosure, there are 119 funds holding China CDF in 2020, with a total of 242,136,600 shares. According to today’s (April 13) China CDF stock price decline, these funds hold institutional day floating loss of more than 6.5 billion yuan.
Among them, 67 products of Huitianfu Fund hold a total of 38,104,200 shares of China CDF, accounting for 1.95% of its A shares in circulation, which is the top among China CDF’s fund holding institutions, with a floating loss of about 1.03 billion yuan today (April 13).
Invesco Great Wall Emerging Growth holds 13.3759 million shares of China CDF, accounting for 0.69% of its outstanding A shares, and is the largest fund holding China CDF, with a floating loss of about 360 million yuan today (April 13).
In addition, China CDF is also the third largest long position of ETF Consumer Fund and the eighth largest long position of E-Fangda Consumer Fund.
With a large number of funds taking long positions and picking up each other, China CDF’s share price has risen. From the low point at the end of March 2020 to mid-February this year, China CDF rose from a low of RMB 66 to over RMB 400 in less than a year, with a cumulative gain of 465%.
However, CDFG’s performance has failed to provide support for its share price.
On the afternoon of April 13, CDFG released its FY2021 first quarter results. Total revenue for the period was 18.134 billion yuan, up 127.48% year-on-year; net profit was 2.849 billion yuan, compared with a loss of 21.86 million yuan in the same period of the previous year; and operating profit was 4.458 billion yuan, up 4.776 billion yuan from the same period of the previous year.
Compared with the operating profit of 3.355 billion yuan in the first quarter of 2019, China CDF grew only 33% in the first quarter of this year, much lower than the profit growth rate of 101% in the same period of 2019.
Looking at the full year of 2020, CDFG’s revenue in FY2020 was RMB 52.62 billion, up 8.2% year-on-year, and net profit attributable to the mother was RMB 6.12 billion, up 32% year-on-year.
China CDF reported in the third quarter of 2020 that the company reported revenue of 35.14 billion yuan in the first three quarters of 2020, down 2.8% year-on-year; net profit of 3.16 billion yuan, down 24.9% year-on-year.
Shui Pi, a well-known Chinese financial commentator, wrote on April 13 that China CDFW has been the flag-bearer of the bull market for the past 2 years, with quite a huge intraday gain, but the problem lies in the excessive hype, which is actually a serious overdraft of the company’s future development, and China CDFW’s price-to-earnings ratio has now reached about 100 times.
Data show that at the end of March 2020, the PE (price-to-earnings ratio) of China CDF was only about 30 times; by mid-February this year, its highest PE had exceeded 200 times, and the madness of capital speculation was evident.
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