Under this new trend, many domestic investment institutions have to adjust, and the hearts of shareholders and people have flown to the SGX, which means that the money is also flying there, and those investment institutions also have to increase their focus on the SGX market, otherwise there will be no customers, which is a very direct problem.

After entering the new year, the sixth new stock 50 ETF exchange fund will be issued and listed, and the highlight is that a number of public funds have announced that they will launch SGX-themed exchange funds.

Because SGX does not plan to launch more indices and its sector ETF funds, the outside world is gradually understanding that SGX intends to only buy one SSE 50 index and the ETF of that index will not make other indexes.

This is actually what Fang Hong asked to do, because it is also necessary to consider the listed companies of Guo Jia's team on the main board of the two cities next door.

However, the A-share market itself already has a variety of industry ETFs or related fund varieties, such as semiconductor ETF funds, and now it also includes the new microsemiconductors listed on the SGX, which is mainly engaged in R&D and manufacturing lithography equipment, and the pharmaceutical ETF fund is also included in the SGX-listed Ruihe Pharmaceutical, and they are all top ten heavy stocks.

I didn't do this before, but some shareholders who plan to invest in industry ETFs look at it and call it good, your semiconductor ETF actually doesn't have a new micro semiconductor holdings, and the pharmaceutical ETF doesn't have Ruihe Pharmaceutical's holdings. The companies in these industries have risen so sharply or the leading stocks in the industry are not included in the holdings, but they put a bunch of crooked melons and cracked dates, and they don't buy them directly.

After a period of time, I couldn't stand it, so I began to include it in ETFs.

I really don't want to and have to include it, at least it can make the ETF go better, and it can also cover other stocks and attract funds to come in, otherwise there will really be no one to support it.

The Shanghai Composite Index can be brought back to 3,200 points, and the inclusion of SGX-listed targets in industry ETFs is also crucial.

At present, public offering institutions have begun to launch their own SGX theme on-site funds, which is also based on the strong demand of the market, Fang Hong does not let SGX engage in small and medium-cap stock indexes and related ETF funds, but many small retail investors want to invest in those small-cap stocks have no way, and many small ticket growth stocks have risen more fiercely than the SGSE 50 index.

Where there is market demand, there will inevitably be supply.

No, public funds have taken a fancy to the market demand here, and many institutions have begun to launch on-exchange funds, and fund managers can choose a basket of stocks in the SGX market, and retail investors can indirectly invest in small-cap growth stocks by trading these on-exchange funds.

……

Entering the new year of 2017, Fang Hong also shifted his career focus from the financial field to the field of physical manufacturing and technology, because he judged that the game in the financial field would most likely stop for a period of time in the next year.

Americalika's two-year financial war failed to achieve the results they expected, and it can be said that it was far less than they expected, and now they have retreated, and the situation in their own family is also complicated, and it is unlikely that they will come back for a while.

But it doesn't mean that America won't make trouble, the financial war has lost and receded, and there is no benefit here, and this year it is very likely that it will immediately connect to new work, turn to science and technology warfare, and will further intensify at the level of science and technology warfare.

Wednesday, February 15, Xingyu Technology Headquarters.

Fang Hong came to the company's headquarters today, at this moment he and Qin Feng in the company's new energy vehicle research and development department, only to see Qin Feng walking and sighed lightly: "After entering this industry, I found that it is much more difficult to engage in the automobile industry than in the smartphone industry, and it is necessary to invest in greater time and capital costs than smartphones, and I dare not say that I am an expert until now." ”

"It will take a year or two to get it done, and then I won't hand this piece over to you Xingyu Technology." Fang Hong said with a smile, others can't do it, this can be regarded as a very recognition of Qin Feng and Xingyu Technology's ability.

The two left the front-line R&D department and came to a small conference room.

Qin Feng casually found a place to sit down and said: "In 2016, in the automobile industry, one of the things we did the most was to run around and study, go to Europe, go to Yueben, go to Biyadi, etc., have been warmly received, and have also eaten closed-door soup. ”

Fang Hong couldn't help but smile, it was normal to eat closed-door soup, his peers were enemies, and he immediately looked at him: "How is the harvest?" ”

Xingyu Technology announced two years ago that it would engage in new energy vehicles and enter the field of automobile manufacturing, but so far there has been no shadow of a car, but the investment has exceeded 100 billion, because it is really to engage, not to play PPT to build a car, this line of money-burning ability is still more than mobile phones.

And last year, there was also some turmoil in this circle, that is, Boss Jia, who turned "returning to China next week" into a stalk, which also made the outside world question Xingyu Technology's new energy vehicles.

But at this moment, Qin Feng said in a deep voice: "We have been running, studying, and studying for a year, and my conclusion is that in the circle of new energy vehicles, Biyadi may soar in the future, and relatively speaking, other brands are not to worry." ”

When Fang Hong heard this, he was immediately interested, and being able to say such a conclusion showed that he had worked hard in this industry, and his judgment was right.

After a while, Qin Feng looked at Fang Hong and said: "We focused on Biyadi, it can be said that this company is a real teacher of Toyota, and it can even be said that it is a teacher of the entire automobile industry, every step that Biyadi has played so far, in fact, is following Toyota, Biyadi's future is likely to become the next Toyota of the automobile empire, if Xingyu Technology enters this industry, this will be a very strong competitor." ”

Qin Feng further said: "We have dismantled several BYD cars for systematic research, and Biyadi seems to be following Toyota's example, but in fact it has taken a different path from Toyota. Regardless of whether Europe or the hybrid is still stuck in how to divide the energy between power and electric drive, BYD is actually taking this road with a deeper understanding of electric drive, battery, energy storage and the future of the automobile industry, and the road planning is more reasonable. ”

"In addition, whether it is in the manufacture of batteries and the foundry of mobile phones, Biyadi has been very mature in the entire machining industry chain, if this trend continues, Biyadi will soar in less than three or five years."

In the past year, Qin Feng and Xingyu Technology's new energy vehicle team have really learned from their peers with a humble attitude, and have not been arrogant because of their outstanding achievements in the field of smart phones.

Qin Feng is to learn from the old-timers with the attitude that he is a novice rookie, and he is confident that he can make achievements in this industry, but he is not arrogant.

Qin Feng continued: "We also went to Yuben to study Toyota, and I wanted to understand what the essence of Toyota's success is. In the past, I thought that the essence of Toyota was zero inventory, but after digging deeper and studying it, I realized that DOE is the essence of it. ”

Fang Hong said: "DOE, that Taguchi experimental method? ”

Qin Feng nodded: "Yes, it is the engineering iteration and experimental design based on DOE as the core that is the magic weapon for the rise of Toyota and even the entire series of cars." Moreover, the principle of DOE is similar to the AI model engaged in by Chen Yu in a sense. Look, there are the x variables of the input, the y variables of the output, and the process of industrial production is regarded as a transfer function of AI, and there are also analytical regressions, gradient descent of the loss function, etc. ”

"The reason why the car is more conservative in the application of new technologies than Europe or North America is that this set of DOE-based ANOVA coupled with this regression process, he wants the relative stability of the process, that is, after various variable factors are recursively through a process and a variety of analysis output processes, once they reach a steady state, it is best to remain unchanged for ten or even twenty or thirty years, then they can produce cheap cars stably and in large quantities."

"And today's Biyadi is also for electric drive, electronic control, battery these technology plates of the foundation is more and more compact, so it is foreseeable that in the near future, when all the underlying technology of Biyadi is stabilized, you can pursue stable and mass manufacturing, the output of the car will be cheaper, in the future they are to sell a car to less than 100,000 yuan I am not surprised."

……

(End of chapter)