Both stocks fell out of their all-time bottoms because of recent troubles.

At its extraordinary shareholders' meeting held in mid-September last month, Yangtze Power approved a plan to acquire six units of the underground power station of its major shareholder, the Three Gorges Corporation.

According to the plan, Yangtze Power will spend 12 billion yuan, and will achieve a net profit of 960,000 yuan per year after it is put into operation, increasing earnings per share by 0.0058 cents.

As soon as this acquisition plan came out, it triggered a strong reaction in the market.

On the one hand, brokerage institutions believe that the acquisition can give full play to the synergistic benefits of Yangtze Power, and have increased their holdings and recommended ratings on Gai Guo.

But on the other hand, small and medium-sized shareholders are extremely dissatisfied, before the acquisition plan was exposed, almost no one thought that according to the average annual increase in power generation of 3.511 billion KWh after commissioning, the corresponding profit amount is only 960,000 yuan of assets, the final purchase price is 12 billion yuan, and the payment is real money.

Regardless of whether the cost method or the income method is used to estimate, more than eighty percent of the acquisitions are made at a high premium. In the face of such a result, shareholders exclaimed that they could not understand, why could they evaluate a premium of more than eighty percent?

It is conceivable that small and medium-sized investors must be extremely dissatisfied with this, believing that the high premium has harmed the interests of Yangtze Power and their own interests.

There are even shareholders in the comment area of the stock bar of the stock who bluntly said that such a generous gesture is obviously a straightforward transfer of interests. Because the purchase price is too high, but the profit growth space is limited, it will be considered by shareholders to involve the transfer of interests.

From June 30, 2009, there were 113 institutions holding shares in Yangtze Power, with a total of 847 million shares, accounting for 17.25% of the outstanding shares, but as of the second quarter of this year, the number of institutional holdings fell to 91, with 480 million shares, accounting for 6.51% of the outstanding shares, and the number of institutional holdings fell by 60% in two years.

The performance of Yangtze Power's share price in the secondary market is quite ugly, and it has not stopped, so the major shareholders have to use increased holdings to protect the disk to prevent the stock price from plummeting and selling cheaply, and do not want the stock price to be too low, but its trend performance is not satisfactory.

The continuous increase in holdings by major shareholders does not mean that the stock price can improve in the short term, but only shows that the major shareholders believe that the company's stock price is lower than the actual value of the company, and its performance in the secondary market is not good; on the one hand, the stock market itself is very poor, on the other hand, the precipitation in the third quarter of this year is very poor, and on the other hand, the state has also issued a document on the Three Gorges, attaching importance to the impact of water conservancy on the ecological environment.

However, other institutions are running away, but Qunxing Capital has come to a "people abandon me to take" operation, recently through five bids, at an average price of 6.32 yuan per share to increase to 558 million shares, a total of more than 3.5 billion yuan has been spent so far.

The number of shares held by Qunxing Capital now exceeds the total shareholding of the other 91 institutions, with 558 million shares accounting for 7.59% of the outstanding shares, or 3.38% of the total share capital, and will continue to increase its holdings further.

Now the third quarter report has also kicked off, although the share price of Yangtze River power is weak, but this year's performance is only unsatisfactory, the company achieved power generation of 39.084 billion kWh in the first half of the year, a year-on-year increase of +6.46%, from a historical point of view, the third quarter of the wet period has the greatest impact on the annual performance, and the third quarter of this year during the poor water, the Yangtze River power performance has a greater impact.

But these are not problems, Qunxing Capital now has a lot of cash flow in its hands, how to spend it is also worrying, this stock fell to the bottom of history, can not fall, because the major shareholders are trying their best to pallet, Qunxing Capital is also actively following up, holding assets to maintain and increase value.

Relatively speaking, the performance of Yangtze River Power is not bad, Biyadi this stock is compared, that is really miserable, highlighting a no comparison is no harm, Biyadi's market value has evaporated more than -85% from the high, landed on the A-share market on June 30 this year, and has just been listed in the big A for about three months.

In the early days of listing, the stock price rushed to 35.55 yuan, nearly double the issue price.

But today, the stock further out of a new low of 17.40 yuan, although the closing rose +3.16%, the stock price locked at 18.60 yuan, closed above the issue price, but the three months since the listing from the high point of the halving trend still makes many investors shudder.

Biyadi's market value evaporated by more than 40 billion, and 15 million institutional placement shares were lifted at the beginning of the month, but judging from the current closing price, funds and insurance funds can be described as busy in vain.

According to the data, the 15 million restricted shares are currently held by 11 institutional investors, including Guodu Securities' proprietary market, as well as 5 insurance products of Kangtai Life Insurance and three public funds of CCB's enterprise annuity plan, Xingquan Trend Investment, Xingquan Convertible Bonds, and Xingquan Organic Growth.

Biyadi landed on the A-share market to be listed, but the stars did not intervene in the A-shares, but in the H-shares as last time, the last time was the first time to intervene in the stock during the first quarter of 2009, but at that time the highest only 100 million shares were bought, did not pass the holding line, and the average shareholding price was about 15 Hong Kong dollars.

The last time the shareholding did not exceed the 5% holding line standard because he wanted to run away, Fang Hong knew that this vote would collapse this year, and in the round of market in 09, Biyadi's share price rushed above the price of 88 yuan, and Qunxing Capital made as much as 4.5 times more than the withdrawal above the price in 80 months, taking away billions of profits and retreating.

Shareholders also once aroused heated discussions, Biyadi in the bull market in full swing in 09 years, the most hotly discussed by investors is that the stock god Buffett bought 225 million shares of Biyadi at a price of 8 Hong Kong dollars per share in September 2008, and then the stock price soared to 88 yuan in one breath, an increase of ten times, and investors have said that Buffett is worthy of being a stock god.

At present, Biyadi's share price has evaporated by more than -85%, which has risen tenfold before Buffett's shareholding does not move, and investors have said that Buffett is old and confused!

However, according to the trend of Fang Hong's previous life, when Biyadi's stock price rose to 80 yuan again, Buffett continued to hold shares, investors said that Buffett was really a stock god, and when the stock price plummeted by 33 yuan again, Buffett still did not move, and investors called Buffett's brain broken.

Ten years later, Biyadi's share price rose to more than 270 yuan, and investors said that Buffett was really a stock god, at that time the stock god had sold stocks, and then soared to above the price of 333 yuan, Buffett continued to sell, investors decisively bought and shouted value investment, and said that Buffett knows how to buy bank stocks, and does not understand new energy at all.

At present, after the stock price of Biadi fell, shareholders on the one hand DISS Buffett was confused, but at the same time, they increasingly admired the accurate escape of Stars Capital, and said that Stars is the god of investment, because Stars Capital successfully withdrew above the price of 80 yuan above BYD and made a lot of money.

It is precisely because of this series of strong achievements that the recent news of Qunxing Capital's entry into the A-share market has triggered the majority of investors to follow up, and their confidence has also come a lot.

……

The next morning, at about eight o'clock, the pre-market information of the capital market in the morning was swiped by a message, which was that Qunxing Capital raised its card to Biyadi, and the number of H-shares held reached 118 million shares.

In addition, the announcement of Qunxing Capital claimed that it would still increase its holdings of the stock in the next 12 months.

Major market software is also pushing this news, and the attention of investors to this stock has skyrocketed.

The last time Qunxing Capital made billions in Biyadi, and now it is back, and now everyone firmly believes that Biyadi's stock price is really in the end, because it has evaporated more than -85% of the market value from the historical high, and the valuation is definitely not high, and the A-share market has just broken in the past two days.

The most important thing is that this time Qunxing Capital intervened again and actually raised its cards, but it didn't raise its cards last time.

Some of those who intervened in the unit yesterday were ecstatic.

……

(End of chapter)