In the next few trading days, Quantitative Capital was stimulated by the unexpected performance of the annual report, and the stock price continued to walk out of the one-word limit, and on Thursday, April 18, it walked out of the five-word daily limit.

On Friday, April 19, the one-word limit was opened again, breaking through the high of 22.54 yuan and stepping out of the recent high.

However, this one-word board was fried in the plate, but then it was closed, and finally the volume of 1.361 billion walked out of the T-board, and the stock price also rushed to the price of 24.61 yuan, and the market value soared to 34.405 billion yuan.

Quantitative capital walked out of the seven boards in seven days, of which the first board is still the earth and sky board, the stock price was cut in half in about seven or eight days, and now the cumulative increase in seven days and seven days has doubled by +116.45%.

Shareholders also discovered a detail, that is, since the backdoor listing of Weibo in 2010, the annual demon stocks in the A-share market are basically in the galaxy, and they are ten times the level at every turn.

In particular, the largest bull stock of the year, in recent years, have been swept by the concept stocks of the galaxy, and last year was even more incredible, Kyushu Blue Arrow, Yixing Video, Yixing Media, Kunpeng Technology, Kyushu Xing, Maker Fang, Youkefang and other targets are among the top ten demon stocks in 2012, and all rose more than 15 times during the year.

This year's quantitative capital resumption of listing has locked in the year's largest bull stock, the first day of resumption of trading hit a 17.8 times increase, killing to a price of 6.46 yuan to today's seven consecutive board breakthrough high, the increase has expanded to 280.96%, and the increase in the year has also reached +888.35%, is currently the largest increase in the A-share market this year.

Shareholders are paying more and more attention to the listed subsidiaries of the galaxy, including some floating capital, because these targets are too volatile, it is easy to go demonic, and the trading volume is not low.

……

Tranquility Villa.

"The financial data of Qunxing Capital in 2012 came out, and the company's annual income last year was 1672.045 billion, a year-on-year increase of +49.08%; The net profit was 551.441 billion yuan, a year-on-year increase of +53.65%, and the absolute number of revenue and profit increased significantly, but the growth rate slowed down significantly. ”

Tian Jiayi said and handed the financial report document to Fang Hong, who opened the list.

In 2011, the year-on-year growth rate of Qunxing Capital reached about +117%, and the net profit growth rate of the current period also reached about +89%, compared with the growth rate of this year.

However, this is also normal, the company's current revenue base is not the same as in 2011, and the current base is starting from trillions.

It is unrealistic to maintain an annual growth rate of double, after all, the upper limit of global economic growth is there, and the growth rate of investment income of Qunxing Capital is several times that of the global economy in the same period.

In terms of corporate profits, it is already equivalent to the first line of two universes.

Tian Jiayi said: "The company's total assets at the end of the period were 4,055.183 billion yuan, a year-on-year increase of +32.34%; net assets were 3,753.356 billion yuan, a year-on-year increase of +37.31%, and liquid cash was about 1 trillion yuan, a year-on-year increase of +20.08%; The company's total debt was 301.827 billion yuan, down -8.72% year-on-year and -5.37% month-on-month. ”

I have to say yes, starting from this fiscal year data, the asset structure of Qunxing Capital is too perfect.

The debt ratio is less than 7.5 percentage points, which retains a huge leverage space, and Qunxing Capital can fully leverage the debt ratio to about 40%, and now it is actually a loss to maintain a debt ratio of less than 10 percentage points.

Not to mention anything else, just holding a trillion of liquid cash is a huge cost of capital.

Generally speaking, it is no problem for enterprises to reach 40% debt ratio, but if Qunxing Capital puts the debt ratio on top, the risk is actually greater than that of other companies.

Because so many super projects are in operation, such as daily projects, 100 million mu afforestation projects, semiconductor industry chains, etc., there are so many super large projects with hundreds of billions of expenditures in their hands.

These projects all need to be covered by Qunxing Capital, which means that the potential risks are superimposed on Qunxing Capital.

Therefore, we can't expand blindly, especially the capital credit of Qunxing Capital must not be broken down, otherwise the chain reaction will be a total collapse.

It is necessary to have enough capital capacity to leverage trillions or even trillions of funds at any time, in other words, Qunxing Capital needs to retain the ability of currency derivation, which is an invisible credit support.

Partners such as Zhongtai Capital and Pengrui Capital are only star-studded, and these little brothers are all referring to where to fight, don't they have confidence in you, and they are not supported by your super strong underlying credit.

Knowing that you will make a move, you also have the ability to make a move, and you also know the terrifying currency derivative ability of the company, and you can leverage hundreds of billions of funds by just taking charge of increasing it by 10%.

At the end, Fang Hong closed the materials and said: "In the future, the company's cash flow will be maintained at about 1 trillion, and the capital cost will not be able to withstand if there are more reserves." ”

Trillions of cash reserves alone are astronomical sums of money at a daily interest.

Fang Hong put the materials aside, looked at Tian Jiayi and asked, "By the way, has the merger and reorganization of the three GPU manufacturers started?" ”

Tian Jiayi replied: "It has already begun, but the head of Xinwei Chuangda is a little dissatisfied, if he forcibly merges, he will resign, and the other two will accept the integration." ”

Hearing this, Fang Hong simply said neatly: "Then buy back the equity in his hand and let him cash out." ”

This is a track that can reach the trillion-dollar level in the future, Fang Hong also attaches great importance to it, and recognizes that Chen Yu can lead the team to break through in this field.

After a while, Fang Hong added: "Let's buy back at a 35% premium on the current market fair value, and treat the exit of high-tech senior talents in the field of technology, and seek a good gathering and dispersion." ”

Tian Jiayi nodded.

The purpose of the premium to let it exit is also very simple, to earn a reputation, no matter how the old club does not cheat you.

……

After the weekend, it was Monday, April 22.

Quantitative capital stopped seven consecutive boards, and fell back at about +7% today, and finally closed down -3.25%, with the stock price closing at 23.81 yuan, and the full-day trading volume was 2.599 billion yuan, refreshing the largest daily trading volume record since the stock was listed.

Today's high-level broken board closed in the negative, and the bottom of the profit disk is also cashed out on a large scale today, and the investors who participate in the concept stocks of the galaxy know that these stocks are too volatile, and they are cut in half at every turn when they pull back.

However, the people who cashed out today quickly regretted that in the remaining four trading days of the week, quantitative capital did not fall sharply, but directly reversed the high-level yin line limit, and directly walked out of the four-board market, changing hands all the way up.

As of the close of trading on Friday, April 26, the share price of Quantitative Capital closed at 34.86 yuan, and the stock once again refreshed the daily trading record, reaching 2.710 billion yuan, and the market value rebounded to 48.734 billion yuan.

At the current share price, Quant Capital has a price-to-earnings ratio of 45.67x.

In addition, other galaxy concepts such as Xingyu Technology are also repairing the market and entering an upward trend, the popularity of these votes has fallen out of the top ten, but quantitative capital is at the top of the list, and the recent trend of this vote has crossed the market and become the new popularity leader of the two cities.

The second stage of the main rising wave market was driven by the performance exceeding expectations, and the price from 11.37 yuan has risen by +206.59%, tripling; From the collective fall of the galaxy concept stocks to the price of 6.46 yuan, the cumulative increase of the two main rising waves has also reached +439.63%, a fourfold increase; From the price of 2.49 yuan on the first day of resumption, the current increase in the year has reached 1300.00%, an increase of 13 times.

The concept stocks of the galaxy are now favored by the capital, and there are more and more retail investors who follow the trend to participate in the game, and they can't play if they don't come, because the popular leader is in the concept stocks of the galaxy, and if you want to make money, you can only come here to play, because although the fall here is fierce, but the rise is also huge.

……

(End of chapter)