The innovation of Hong Kong stocks has become a "daily task" for more and more investors.

In this new army, a small number of investors are very specialized, rich in bullets, discerning, popular companies with good quality and poor quality can be brought into full play, so as to "make the best use of things."

However, most investors, due to lack of experience, do not have so much time to study one by one, so they can only be relatively conservative and choose to beat less. Then, naturally, cornerstone investors will become everyone's screening weapon, which can be described as the first indicator of Buddhism.

Must the performance of new shares with cornerstone investment be good?

However, do not think that as long as there is a cornerstone, everything will be safe. in fact, cornerstone investors are also varied, and their strength varies widely. Some listed companies find one or two friends and can also act as cornerstone investors as natural persons.

Let's take a look at this year's IPO data. About 160 new shares were listed in 2019, of which 87 were up, while 71 were flat or down.

Of the 87 stocks that rose, 41 had cornerstone subscriptions and 46 had no cornerstone. Of the 71 flat or falling ones, 36 had only cornerstones and 35 had no cornerstones. It can be seen that just because there are cornerstone investors does not mean that they can rise.

Moreover, of the 87 stocks that rose, the 41 with cornerstones rose by a median of 7.2%, while the 46 without cornerstones rose by a median of 14%. This year, many outstanding new stocks do not have cornerstone investors, such as DeShijia, Xinyuan, Zhongyan and so on. This data also tells us that even if it is all rising, having a cornerstone does not mean it is much higher than no cornerstone.

We roughly feel through two pictures, the first is 41 of the 87 rising stocks with cornerstones, and the second is 36 of 71 flat or falling ones.

The star cornerstone still has guiding value.

Even if the attribute of the cornerstone does not have universal reference significance, many investors may have guessed that superstar institutions such as Hillhouse can still achieve a high victory rate and can be called the "fighting base" in the cornerstone. point out the direction for the vast number of new retail investors again and again. With them playing new, although the odds are not necessarily the greatest, but at least the rising probability is very large, big meat, small meat, anyway, basically follow the fight can have meat to eat.

In 2019, there are three such star organizations.

The first is the familiar Hillhouse. In 2019, Hillhouse invested five new shares as a cornerstone, namely, Hansen Pharmaceutical, Qiming Medical, Poly property, Jinxin Reproduction, and Fonda Holdings, all rising on the first day.

The second is the famous GIC (Singapore Government Investment Co., Ltd.), which invested as a cornerstone in Hansen Pharmaceuticals, Kai Ming Medical, Poly Properties and Budweiser this year, which highly overlapped with Hillhouse and rose on the first day.

The third is a healthcare-focused investment fund, the well-known OrbiMed (Ober Capital), which this year invested in Hansen Pharmaceuticals, Corning Jerry, Conrad Medical equipment and Jinxin Reproduction, all of which rose on their first day.

The six strongest cornerstones

Copy the above ideas, we enlarge the sample! Since 2005 (Hong Kong stocks began to introduce the cornerstone investor system), several cornerstone investors who have made a large number of moves and have a high success rate have been selected. Futu Information will also update this list from time to time, hoping to continue to dig out more powerful investment institutions.

Here is a statistical list of the six most powerful cornerstones, as well as their respective records.

GIC:

Hillhouse:

Hui Li:

Jinglin:

OrbiMed:

Dragon Billion:

Finally, I would like to remind that even if there are star institutions through cornerstone investment to express the affirmation of a company's fundamentals and development prospects, it can not be equated with the rise of the certainty of new shares. First of all, there is no guarantee that they will be 100% right, and then the performance of new shares is also related to many factors, such as the market situation, pricing, the number of clawbacks after oversubscription, and so on, so cornerstone investment is always our reference. all investment decisions should be based on their own full research and thinking and are willing to take risks. Finally, I wish you all to make a new profit in 2020!