The sudden wave of adjustments a year later caught not only ordinary investors off guard, but institutions were also stranded for a short period of time. Even top investment institutions such as Hillhouse Capital were not spared.
The capital of Hillhouse will definitely increaseBYDH-share quilt cover 14%
According to public information, Hillhouse Capital spent 200 million US dollars to participate in Hong Kong stocks on February 18BYD sharesThe latest roundTargeted distributionThe purchase of shares is at a subscription price of HK$225/share.
Since then, BYD shares have declined all the way down, hitting a low of HK$163.5 per share. Based on this price, Gao Lin Capital's biggest loss was over 27%. As of March 18, in just one month, the latest closing price of BYD shares was HK$192 per share, and Gao Lin Capital was set at 14.67%, with a loss of about US$17 million.
Taking advantage of the new energy vehicle industry's tailwind, BYD shares have risen 200% over the past year. On February 3, BYD's A-share price hit 273.37 yuan/share, but continued to decline for more than a month thereafter. As of the close of trading on March 18, the closing price was 178.55 yuan/share, erasing nearly 100 yuan/share from the high.
In addition, in December 2020, Hillhouse Capital also invested heavily in sharesLongji Co., LtdwithTongwei Co., LtdThe prices are 70 yuan/share and 28 yuan/share, respectively. After recent drastic adjustments, the profit of the above two investments by Hillhouse Capital has also been drastically narrowed.
In July of last year,Ningde eraA targeted capital increase was initiated. Gao Lin Capital subscribed for 10 billion yuan at a price of 161 yuan/share, becoming the ninth largest shareholder in the Ningde era. Beginning in the second half of last year, the Ningde era soared. As of the close of trading on March 18, Ningde Times's stock price closed at 335.8 yuan/share, with an investment profit of about 2 times.
As an important layout in the middle of the new energy industry chain, Gaolin Capital's short-term trends in individual stocks may not be considered by Gao Lin.
Currently, Gao Lin Capital has investments in the photovoltaic and lithium battery industries in the new energy industry chain, including Tongwei shares of Longji Co., Ltd.Enjie Co., Ltd.With Hong Kong stocksXinyi EnergyWait, these battery and materials industries, which are located in the upper reaches of new energy, may be where the “long-term value” on the electric vehicle circuit lies in the eyes of Zhang Lei, founder of Hillhouse Capital.
Liren's investment will definitely increaseBGIA loss of nearly 20%
Coincidentally, Tianjin Liren Investment, a private equity fund management platform for RMB securities owned by Gao Lin Capital, increased its participation in BGI in February, and also experienced significant losses.
On the evening of February 1, the fixed increase report disclosed by BGI showed that Tianjin Liren Investment participated in the fixed increase with 503 million yuan. The issue price was 145 yuan/share, and 3.47 million shares were allocated. In addition to the 750,000 shares previously held (total shareholding of 4,219,500 shares), the shareholding ratio will account for 1.02% of the company's total share capital after issuance, making it the seventh largest shareholder of BGI.
After the news of the fixed increase was announced, BGI continued to rise slightly, reaching a high of 161.04 yuan/share on February 10, but then made a U-turn downward. Yesterday, the low fell to 113.58 yuan/share, as of the latest closing price, 116.4 yuan/share. This also means that the capital of Tianjin Liren Investment's participation in the fixed increase portion is already close to 100 million yuan, with a loss margin of nearly 20%.
The fixed increase is viewed by some institutions or bosses as an opportunity for “discounted entry” because there are discounts, but the stock market declined after the holidays this year, and many fixed increases have also broken out. According toOriental WealthAccording to Choice data, there were 70 companies during the yearAdditional issuanceListed. According to the latest closing price calculation, 20 of these companies have already gone bankrupt, accounting for 28.6%. Among them, the largest discount was Huada Gene, followed byTuopu Group,Xiang oil pump,37 Mutual Entertainmentetc.
