Fox is a mainstream forum in China, but not many shareholders will really take the above answers as investment advice, even if it is a well-known retail investor who makes money.

Not to mention that the entire securities market in China can only be described in two words: crazy.

Since the share reform, the big A ushered in a comprehensive bull market, if there is no butterfly effect brought by Zhou Xin, this round of bull market in Huaguo will last from mid-05 to October 07, coveted by later investors, and praised as an epic bull market by the media.

The Shanghai Composite Index rose from 998 points all the way to 6,000 points, and investment "experts" even claimed that 10,000 points was not a dream.

In addition, there is a data that can reflect how popular Big A is, the Huaguo A-share fund sold by Morgan Stanley, a closed-end, non-decentralized investment fund, and a fund registered in the United States that focuses on investing in the Huaguo A-share market issued by Ameriken individual investors, was subscribed out within an hour of the first round of issuance, raising more than 200 million US dollars.

You must know that this is aimed at the individual investors of Ameriken, and they are all so crazy, which shows how crazy the hype of Big A is at this time.

How much is reasonable and evidence-based on the fox suspicion, and there is a little basis for making calculations, and when you go to the stock bar launched by Oriental Fortune Network last year, it is not a problem that all of them are 200 billion, and trillions are also close at hand.

"Just now, Mr. Xue mentioned that the pricing of Xinxin is a bit high, and compared with profits, the dynamic P/E ratio of more than 1,000 times should be regarded as the new stock with the highest P/E ratio in the history of Big A.

Because the price-to-earnings ratio is too high, the upside of Xinxin after listing is limited, I just don't think so, I think this valuation is actually seriously undervalued.

Xinxin alone has 10 billion contracts on paper, and at the same time, in the foreseeable next two years, it will monopolize the entire immersion lithography machine market.

In this semiconductor equipment segment with rapid growth of 40% every year, Xinxin occupies a technological advantage, and will even achieve an absolute monopoly in the next two years.

There should be no other company in China that has achieved such an achievement, right? The valuation of 100 billion is far from enough, I think 500 billion is the bottom line, and 1 trillion is the goal of Xinxin. ”

This is a financial program on Shenhai Satellite TV, two guests about the listing of the new chip lithography machine is not exactly the same, the former believes that the price of the listing is too high, and the space is limited.

The latter is mostly an emotional refutation and does not have much dry goods. With the listing of Xinxin's lithography machine, the prospectus and Xinxin's scientific and technological strength have been analyzed by these financial programs.

Because it was an unprecedented bull market at this time, financial programs, especially those related to the stock market, were particularly popular with the audience, and on-site tickets even had to rely on relationships to get them.

There is a time lag between the recording and broadcast of the program, and many live viewers hope to seize this time difference and convert the guests' opinions into red earnings on their stock accounts.

After the two guests finished speaking, the audience voted with applause, and the latter's emotional speech received thunderous applause, and the audience obviously hoped that the new chip could rise to one trillion.

This will help the entire market to further become popular, especially for users of stocks related to handheld semiconductor equipment, and the height of the leading new chip lithography machine determines the height of the stocks in their hands.

The previous guest also wanted to refute: "I admit that Xinxin is very remarkable, and it is a rare technology-based enterprise in China."

I didn't say that it is expensive, considering the technological advantages and scarcity in the country, it is reasonable, but it is a bit exaggerated when you say 500 billion. ”

"I'll just ask a question, Mr. Xue, have you subscribed?"

"Yes, I said that there must be some earnings from the subscription, but it is just the difference between earning more and earning less."

"And how much are you going to sell? Will it be sold before 500 billion? ”

"If I win the lottery, I should hold it for a long time.

There is no inevitable connection between the two, and I hold it for a long time because I am optimistic about the long-term development of Huaguo in high-end technology and the future development prospects of Xinxin under the leadership of Mr. Zhou Xin.

I don't think it will be able to explode to 500 billion in the short term, and the value of the next five years will be overdrawn in advance.

It's like we all think that this child will grow to 1.8 meters in the future, but you say that he will grow to 1.8 meters tomorrow, which is too exaggerated. ”

"According to the information I received, Intel quoted a price of $20 billion for Xinxin, which was made the day after the opening ceremony of the Tokyo Semiconductor Equipment Show.

Today, Xinxin's immersion lithography machine has been verified by all parties and fully proved its strength, will it only be 20 billion US dollars? ”

Intel's offer to Xinxin with the listing of Xinxin, gradually circulated in the financial circle, everyone was skeptical about it, and later saw the cooperation between Xinxin and Intel on the prospectus, which made them inclined to believe.

This news is still quite heavy for the audience and the host, this is Intel, Intel has quoted, or 20 billion US dollars, this still does not prove the technical advantages of the new core lithography machine?

The host hurriedly interrupted the debate of the guests and shifted the topic to why Intel is optimistic about Xinxin.

There are many similar financial programs, and there are also many remarks about the listing of new chips.

On the day of listing, the share price of Xinxin Lithography Machine rose by 15%, and trading was suspended twice in a row.

Unlike after 2014, when the first day of listing of new shares was not allowed to rise by more than 44%, the increase in new listings at this time was limited to 900%, and it is almost impossible for any company to touch this upper limit.

Even the most optimistic shareholders do not think that Xinxin will be able to reach this upper limit on the first day, with a market value of one trillion RMB.

On the day of listing, it could only be said that it rose by 20% at the opening of the auction, and at that time, shareholders once suspected that the price of Xinxin's new shares was indeed high, and as a result, the soaring price after the opening almost quickly led to the intraday suspension of Xinxin's lithography machine.

At the beginning of 2007, listed companies were suspended at most four times, the first time being a 50% difference between the intraday increase and the opening price.

That is to say, the new core lithography machine rose to 170%, and it took less than half an hour to be suspended by the Shanghai Stock Exchange for 15 minutes.

Before the Shanghai Stock Exchange issued a statement that the suspension would end and restart the sale, the stock price of Xinxin Lithography Machine had crossed the limit of more than 150% to trigger the suspension of trading.

Therefore, a peculiar phenomenon followed, after the third suspension of N Xinguang, and then trading for a minute and a half, due to the difference between the increase and the opening increase of 200%, the trading was suspended again for half an hour.

At the end of the day, it fell back, but Xinxin still rose 300% on the first day, and its market value exceeded 400 billion RMB.

From the tour capital to the retail investors, all of them have a crazy attitude.

Why don't you join forces to make a game, and adopt a strategy of slightly fluctuating on the first day to let the lucky retail investors who win the lottery give up their chips?

This is because the new core lithography machine is too famous, and the halo effect of Zhou Xin made them try a little at the opening of the market and it didn't work at all, and the turnover rate was less than 0.1%, which made the investors give up the idea of doing the game.

In such a good market, a new stock with such scarcity, certainty, and topicality, it is the king to grab chips quickly.

So much so that the grand occasion of the listing day of Xinxin has been talked about by old shareholders many years later.

"The lithography machine equipment of the semiconductor business of Xinxin Group, founded by Zhou Xin, the richest man in the mainland, was spun off and listed separately on the main board of the Shanghai Stock Exchange, and the first day of listing performed brilliantly, up more than 300%.

As of today's close, the market value of Xinxin lithography machine has exceeded 400 billion RMB, or about 52 billion US dollars, which is ten times that of ASML, a Dutch listed company in the same field.

In this regard, some stock commentators believe that "

The report of Xiangjiang Phoenix Satellite TV made a detailed comparison between Xinxin and ASML, because these two companies are manufacturers focusing on lithography machines, and they are both catch-ups in this field.

ASML's market capitalization is about 8 billion euros, or about 80 billion RMB, with revenue of 2.5 billion euros and profits of about 300 million euros.

Of course, there is technology, Xinxin is ahead of ASML in technology, but can this technological leadership be worth a gap of 320 billion RMB?

Phoenix TV thinks it can't, and domestic stock commentators and retail investors are carnivaling.

Zhou Xin had a headache: "MD, why do I always encounter this kind of hype when it is overheated?" ”

He thought to himself, to be honest, Zhou Xin thinks that it is more reasonable for Xinxin to have a valuation of 150 billion RMB, considering both the current value and the future growth space.

If you want to benchmark ASML with a market value of 2 trillion rmb in the future, then the new core lithography machine with 400 billion rmb is not expensive at all.

The problem is that it is fifteen years later, and Xinxin is now equivalent to overdrawing the stock price for the next five years in advance, which is not a reasonable phenomenon.

And this is only the day of the listing, considering the hot atmosphere of Big A, Zhou Xin is really afraid that trillions are not a dream.

He is not short of money, and he can't reduce his holdings and cash out in the short term, which is pressure.

When the financial crisis came, he didn't think that the new core lithography machine would be able to stand alone.

"Help me contact financial programs, I'm going to cool down myself.

The capital market or the hype around Xinxin is a bit too much.

Although I may not have an effect when I say this, it is one that can save one. ”

It is true that the hearts of leeks are higher than the sky and their lives are thinner than paper, but the system of chaotic management that Big A should not be managed, the listed companies with frequent illegal operations, the vulture-like capital and the nonsense media are the source of Big A's eternal 3,000 points.

However, it is also understandable that Huaguo's stock market does not exist for retail investors to make money at all, it exists so that enterprises can raise money, and in a sense, the original intention determines the result.

Zhou Xin made a quick decision, and on the third night of the launch of the new chip lithography machine, he participated in the financial interview of Shenhai Satellite TV that day, and Shenhai Satellite TV specially selected the host to conduct the interview.

Before coming, Zhou Xin's secretary had fully communicated with Shen Hai, and the main purpose of this interview was to talk about the listing of Xinxin lithography machine, and Zhou Xin wanted to reveal the risks to everyone through a public platform.

Why don't you choose these online platforms such as Oasis or Fox Suspicion, because the Internet crowd in China is still a minority, especially the shareholder group who are mainly in their forties and fifties.

Shenhai Satellite TV has enough publicity channels to let a large number of viewers know that there is this live broadcast tonight, and this is the first time that Zhou Xin has participated in a TV interview since returning to China.

"Let's applaud Zhou Xin, the new general manager to participate in our "Huaguo Operator""

Zhou Xin smiled and shook hands with the host.

"Huaguo Operator" is a program jointly created by Shenhai Satellite TV and CNN, which is broadcast to the world by Shenhai Satellite TV and CNBC.

Previous interviewers were composed of chairmen or founders of a series of large domestic enterprises such as Lenovo, Gome, Mengniu, China Merchants Bank, and CNOOC.

Even so, the host was still very excited: "There were a lot of big names in our show before, but it was the first time that Mr. Xin had such a big coffee."

I am very honored and worried, for fear that I will be fired by the director without saying a word, and our director will be staring at me in front of the camera. ”

Because he knows Zhou Xin's interview style, the host this time is carefully selected, in order to make the show explosive enough.

"If Shenhai Satellite TV opens you and you come to work in Xinxin, it just so happens that we lack a spokesperson." Zhou Xin teased.

"It's an honor, Director, do you see, I'm also a person who has someone to take care of now.

To get back to the point, the entire financial circle has been discussing a topic in the past few days, that is, when will the market value of the new chip lithography machine stop.

Today is the third trading day after its listing, with a 300% surge on the first day, and the market value of the new core lithography machine has approached the 500 billion mark.

Everyone no longer doubts that the market value of Xinxin lithography machine can successfully break through the 500 billion mark, but is curious about its limit.

Some netizens think that there is no limit to the new president, so the new core lithography machine also has no limit, and it can always break through the market value of one trillion.

We, as well as the viewers in front of the TV, are curious, what do you think? ”

The listing of the new core lithography machine is indeed crazy, so much so that Zhou Xin made special preparations before coming, for fear that he would say the wrong thing.

If it weren't so crazy, he would have wanted to say that the new core lithography machine could rise to one trillion, but not now, but it is possible in the next ten years

Now Zhou Xin doesn't dare to say this, for fear that if he says this, he will be taken out of context by the media and only half of it will be sent: Zhou Xin claims that the new core lithography machine is worth one trillion.

"I think it's a little too hyped.

Xinxin is a challenger in the lithography machine market, we have Nikon, AMSL, Canon, and a large number of challengers to cross.

At the same time, the market size of the lithography machine industry also needs time to grow, and I think that whether it is from the market size or from the new core lithography machine itself, it is not enough to support the market value of 500 billion RMB, let alone 1 trillion.

Although it may rise to that price in an irrational market atmosphere, it does not mean that its true value and market value match. ”

Zhou Xin didn't even say that maybe he could match it in the future.

Because Zhou Xin didn't shake his wit, the host was also very serious:

"Xinzong, other entrepreneurs are eager to see the higher the market value of their business, the better, which also means that their net worth is higher.

Why did you publicly say that the new core lithography machine was overrated? ”

Plus more tomorrow morning, today the crow slept first.

(End of chapter)