2349 hands, a total of 1.4071 million yuan of sales orders, so that the Haiqi Group (603069) was smashed to the limit at the end of the day. At a time when the market was wondering whether the "own finger" had no operation or major problems with the company, SAIC opened trading on October 25 the next day. As of press release, the trading volume was 11.01 million yuan, the turnover rate was 0.53%, and the latest market capitalization was 2.082 billion yuan. As institutional funds continue to move closer to "core assets" in recent years, stocks like SAIC's liquidity drying up will continue to increase.
Share price goes through a roller coaster
Haiqi Group is the largest passenger transport enterprise in Hainan. By the end of the reporting period, the company had 1794 shuttle passenger vehicles and 480 passenger lines, including 92 inter-provincial passenger lines, 295 inter-city and county passenger lines, and 93 inter-city and county bus lines, covering all counties, cities and major towns in the province, and has been radiated to 11 neighboring provinces.
In addition, the company has 21 second-class or above bus passenger stations in Hainan Province, covering 18 cities and counties in Hainan Province. All the passenger stations of the company occupy more than 95% of the market share of regular road passenger transport volume in Hainan Province.
The lack of liquidity in the secondary market was the reason for the sudden collapse of SAIC yesterday. In the collective bidding stage at the end of October 24th, the selling order of 2349 lots, totaling 1.4071 million yuan, smashed the SAIC Group, which had fallen slightly by 0.45%, to the limit.
As for why it is so eager to sell, there is a lot of controversy in the stock bar. According to the analysis of netizens, there are several possibilities for the inside story of smashing the limit: one is to attract attention and make news; the other is the gift order, both of which are due today (October 25). Third, encountered sudden bad news before the close, the main force fled.
Some market participants also pointed out that the whole-day trend of SAIC Group was flat on October 24 and suddenly collapsed in late trading. That is, it is not like shipping, nor does it break the capital chain. It's more like someone sent an order at the end of the day and lost the wrong price. Press the daily limit directly, in other words, it is "own finger".
Before the opening of trading on October 25, there was no more announcement from SAIC, and there was no more news last night. In fact, the most recent announcement issued by SAIC is October 10. At that time, SAIC issued a board resolution announcement to invest in the construction of Changjiang new passenger terminal project and bid for the operation of Dongfang urban and rural public transport service integration project.
On October 25, SAIC immediately opened by its daily limit and closed at 6.59 yuan at noon, with a new market capitalization of 2.082 billion yuan.
The "lost ground" of SAIC's flash collapse was basically recovered the next day. As of June 30, the number of shareholders in SAIC was 21300, a change of-4.74 per cent from the previous period, and 22400 shareholders in the first quarter of this year, compared with-13.95 per cent in the previous period. The number of shareholders in SAIC has fallen for two consecutive quarters.
Funds focus on core assets
SAIC's 20,000 shareholders have experienced a roller coaster ride. However, after the National Day, with the A-share adjustment, many companies have extremely light trading, intraday liquidity almost dried up.
October 25, ST Jinggu half an hour before the opening without a deal, people have the illusion of "intraday stop". By the close of noon on October 25, there were 12 companies with a half-day turnover of less than 1 million yuan. except for delisted companies such as India and Huaxin, nine of them were "capped" ST companies, thus the market's aversion to risk can be seen.
In fact, as institutional funds continue to move towards "core assets" in recent years, stocks that have run out of liquidity will continue to increase.
Market participants pointed out that the sector with the largest cumulative increase in 2019 is food and beverage, with typical targets such as Guizhou Moutai and Haitian flavor industry. It is also this kind of high-quality enterprises that are resistant to the decline in 2018. In the structural bull market from 2016 to 2017, large consumer quality enterprises such as liquor, food, home appliances and medicine were also the leaders of the structural bull market.
Guosheng Securities pointed out that the consumer leader and core assets have always been the most promising long-term main line for institutions. The core logic is the long-term capital allocation brought about by the transformation of investor structure and the reconstruction of valuation system in the process of institutionalization and internationalization of A-shares.
Similarly, take the top 10 companies with the highest half-day turnover on October 25 as an example. The top three are Ping An Insurance, Hengrui Pharmaceutical and Zhengbang Science and Technology. In addition, blue-chip companies such as Gree Electric Appliance, Wuliangye, Guizhou Moutai and Muyuan shares are also included in the top 10, and the performance of these companies has maintained steady growth or even exceeded expectations.