① The “Matthew effect” of public funding participation in fixed increases is becoming more prominent. The top list in 2023 is NORD Fund; ② the top ten of the list of 2 fixed increases in public funding, with the number of small and medium-sized fund companies increasing compared to last year; ③ the fixed increase project that has achieved the most floating profits for public funding is New Novus, which has so far more than tripled its floating profit;
Financial Services Association, December 30 (Reporter Feng Qijuan) 2023 is coming to an end, and the fixed growth rankings of listed companies participating in the public offering have basically been fixed.
Compared to the same period last year, the top of the list of participants in the fixed increase during the public offering year changed positions between CaiTong Fund and NORD Fund; at the same time, it is not difficult to see that the “Matthew effect” of public funding participation in fixed growth is becoming more and more prominent.
The so-called “Matthew effect” has three notable manifestations:
First, the total subscription amount of NORD Fund and CaiTong Fund, which are also “fixed growth investors,” accounted for nearly 60% of the total annual public offering subscription amount, compared to less than 50% in the same period last year;
Second, these 2 fund companies are still the only 2 public offerings that participated in more than 100 fixed increases during the year;
Third, Huaxia Fund has been in third place in the past 2 years. The gap between the relevant data and the top two has widened in terms of participation in fixed increases.
Compared to the same period last year, among the top ten of the 2 public offering lists that participated in the fixed increase this year, small and medium-sized fund companies have begun to be seen more often. In addition to entering the top ten of the 2 new lists, Dacheng Fund has also reached the top ten in the number of fixed increases in public offering participation.
As of the close of trading on December 29, among the public fund projects participating in the fixed increase during the year, the cumulative increase in the stock price has exceeded 3 times since the listing of caffeine producer Sinovac shares, far exceeding the surplus level of 175.16% for those receiving the fixed increase. According to the announcement, Caitong Fund, NORD Fund, Jianxin Fund, Ping An Fund, and Xingzheng Global Fund have all been allotted shares of New Novi in this round.
Since the listing of Dingzeng Shares, the two energy storage concept stocks, Paineng Technology and Jinlang Technology, have lost the most. The 6-7 public offerings that have been allocated have lost more than 50% so far.
The “Matthew effect” of public offering participation in fixed increases is becoming more and more prominent
Whether in terms of the number of times or number of households participating in the fixed increase, or in terms of subscription amount, NORD Fund, Caitong Fund, and Huaxia Fund ranked in the top three in the public offering, and the top two companies clearly surpassed their peers.
According to Choice data, as of December 28, there were 55 public funds participating in the fixed increase of listed companies, with a total subscription amount of 101,887 billion yuan. In the same period last year, the total number of public offering subscriptions of 56 companies participating in the fixed increase of listed companies was 118.567 billion yuan. Compared with the same period last year, the total number of public fund subscriptions during the year fell 14% year on year.
Of these 55 public offering companies, 15 have participated in the total subscription increase of over 1 billion yuan during the year, totaling 91.82 billion yuan, accounting for 89.5% of the total number of public offering subscriptions. Among them, the total subscriptions of NORD Fund and CaiTong Fund during the year were 31.52 billion yuan and 27.975 billion yuan respectively, for a total of 59.494 billion yuan. This means that the total number of subscriptions from NORD and CaiTong alone already accounted for 58.39% of the total number of public offering subscriptions.
At the same time, these are the only 2 public funds with total subscriptions exceeding 10 billion dollars. Huaxia Fund is in third place. The total number of subscriptions that participated in the fixed increase during the year was 5.448 billion yuan. After that, the total number of subscriptions from Guangfa Fund was 5.26 billion yuan. The total number of subscriptions from all other companies was less than 5 billion yuan.
In the same period last year, 18 public offering companies participated in the total subscription increase of over 1 billion yuan, and the total subscription amount also accounted for nearly 90% of the total public offering subscription amount. At the same time, the total subscription amounts for CaiTong Fund and NORD Fund during the year were RMB 32.897 billion and RMB 20.546 billion respectively. The total amount accounted for 45.07% of the total public offering subscription amount. The Huaxia Fund ranked third, with a total subscription amount of 9.694 billion yuan during the same period.
Comparatively speaking, the gap between the third and top two places this year has widened.
Since this year, NORD Fund and CaiTong Fund have participated in the fixed increase the number of times 208 and 198 times respectively. These are also the only 2 companies that participated in the fixed increase more than 100 times during the year in the public offering. The third place Huaxia Fund participated in the fixed increase 78 times during the year. In the same period last year, CaiTong Fund, NORD Fund, and Huaxia Fund participated in the fixed increase number of times 181, 168, and 78 times, respectively.
I saw small to medium funds in the top ten of the list
Compared to the same period last year, Dacheng Fund entered the top ten in the 2 lists that the public offering participated in the fixed increase this year.
Since the beginning of the year, Cathay Pacific Fund, ICBC Credit Suisse, and Dacheng Fund have ranked among the top ten in total subscription amounts of 2,525 billion yuan, 2,413 billion yuan, and 1,624 billion yuan respectively; in the same period last year, these three public funds were not in the top ten in this ranking.
Comparative findings show that Ruiyuan Fund, Bosch Fund, and E-Fangda, which ranked in the top ten in total subscription volume in the same period last year, are no longer in the top ten rankings since this year. According to the data, E-Fangda participated in the total subscription increase of just over 1.5 billion yuan, while the total subscription amount for Bosch Fund was 327 million yuan, a decrease of nearly 10 times compared to the total subscription amount of 3.164 billion yuan in the same period last year.
Since the beginning of the year, Cathay Pacific Fund, Dacheng Fund, Guangfa Fund, and Huian Fund have advanced to the top 10 in the number of fixed increases in public offering participation, each participating 23 times, 20 times, 16 times, and 12 times; similarly, these 4 public funds were not in the top ten in this ranking in the same period last year.
In the same period last year, E-Fangda, Harvest Fund, Wells Fargo Fund, and CCF also ranked in the top ten public offerings. Since this year, they have participated in 11, 9, 6, and 4 fixed increases, respectively, and the rankings have dropped to 11th, 16th, 21st, and 25th.
Five companies participated in the public offering, and individual shares of caffeine increased their profits by more than 3 times
According to the classification of the Securities Regulatory Commission industry, the most popular public offering is the computer, communications, and other electronic equipment manufacturing industries; individual stocks belonging to the special equipment manufacturing industry have already appeared in the public offering list of 35 and 30 related individual stocks, respectively.
As of December 27, out of the projects where public funds participated in a fixed increase during the year, a total of 144 projects had achieved profit for the allotted institutions.
Among these, the cumulative stock price increase of 317.94% since the listing of Sinovay Dingzeng shares has reached 317.94%, which is clearly more than the surplus level of 175.16% brought to the second-place co-creation data for Dingzeng recipients.
According to the fixed increase results disclosed by New Novi in March, CaiTong Fund, NORD Fund, CCF, Ping An Fund, and Xingzheng Global Fund have all been allocated. According to the Securities Regulatory Commission, Novartis belongs to the food manufacturing industry. According to public information, Novus's main products include the food additive caffeine and vitamin C lozenges. The company is a global supplier to the three major international beverage companies, Pepsi, Coca Cola, and Red Bull.
The military stock Aerospace Intelligence has completed 2 rounds of fixed increases since this year, all of which have achieved positive returns for the recipients. Aerospace Intelligent Manufacturing, formerly known as Lekai New Materials, completed a round of fixed increases before and after the company name was changed. Both NORD Fund and CaiTong Fund participated. According to public information, the company completed the industrial and commercial registration procedure for the company name change on October 18, then announced that from November 13, the company's securities abbreviation would be changed to “Aerospace Intelligent Manufacturing.”
The issuance price of the first round of fixed increase shares of Aerospace Intelligent Manufacturing during the year was 7.13 yuan per share. Based on the closing price of 15.67 yuan on December 29, NORD Fund and CaiTong Fund, which were allocated this portion of the shares, have achieved 119.78% profit. This round of fixed increases was announced in December. The issue price is 11.7 yuan per share. It has now achieved a floating profit level of 33.93% for investors.
Among the public fund projects that participated in the fixed increase during the year, 88 projects are currently in a state of loss. They have participated in the Paineng Technology and Jinlang Technology fixed increase public funds, and so far, the loss has exceeded 50%.
These two individual stocks are the same energy storage concept stocks. Paineng Technology's main business is the R&D and production of lithium iron phosphate cells, modules and energy storage battery systems. Jinlang Technology is engaged in the R&D and production of string inverters. By the end of the third quarter, a total of 3 products owned by Liu Geyi and Zheng Chengran, known for their heavy storage of new energy, were among the top ten shareholders of Jinlang Technology.
According to the announcement, a total of 7 public offerings from China Southern Fund, Guangfa Fund, Nord Fund, CaiTong Fund, Huaxia Fund, Oriental Alpha Fund, and Wells Fargo Fund participated in Paineng Technology's fixed increase; 6 public offerings from NORD Fund, Guangfa Fund, Oriental Alpha Fund, Huitianfu, China Europe Fund, and Golden Eagle Fund participated in Jinlang Technology's fixed increase.