The concept of "Kechuang board" has risen and stopped.

The popularity of the “Kechuang Board” concept has driven Shanghai’s local stocks to rise and fall.

As of the close of November 16, there were 25 stocks in Shanghai's local stocks, including Shibei Gaoxin, Zhangjiang Hi-Tech, Volkswagen Public, and Green Court Investment.

Among the above companies, the most eye-catching is Shibei Gaoxin, because it is closest to the concept of venture capital, and as the leading company of the concept, Shibei Gaoxin has already out of 9 consecutive daily limit, setting a record of double the stock price in 9 trading days. .

In addition, among the stocks in the daily limit, the daily average trading volume of Green Court Investment and other stocks has remained below 100 million yuan for a long time, and the performance is poor, which is difficult to support its stock price increase.

"Kechuang board" rises and stops

On November 5th, the Shanghai Stock Exchange will set up the science and technology board and the pilot registration system. The “Kechuang Board” quickly heated up to become a hot word in the capital market.

Among the local stocks in Shanghai, the science and technology concept stocks represented by Green Court Investment were eye-catching in the secondary market. From November 5 to November 16, the stock price rose by 41%.

On November 11, Li Qiang, secretary of the Shanghai Municipal Party Committee, once again mentioned the establishment of the science and technology board and the pilot registration system on the Shanghai Stock Exchange. Later, the science and technology concept stocks continued to be active. The municipal high-tech, public public, Fudan Fuhua, Zhangjiang high-tech and other continuous Many days have risen.

As of the close of November 16, the science and technology concept stocks remained hot, and 25 Shanghai local stocks such as Public Utilities, Changjiang Investment and Xinpeng Shares closed at a daily limit.

However, judging from the volume of secondary market transactions in the past year, whether it is public utility or Yangtze River investment or Green Court investment, the average daily trading volume of these stocks has been below 100 million yuan for a long time, and there are few public funds and private equity institutions to investigate and "Stationed."

"This kind of speculation method actually deviates from the fundamentals and is not in line with the value investment concept. Some stocks are not only fundamentally poor, but the industry is also in the sunset industry. It is impossible to have a performance outbreak, so those stocks that are infected with the concept of venture capital have been sizzled. In fact, it is a bit ridiculous." A private equity partner commented on the "Securities Daily" reporter.

Being hyped up, the company is not good

The above-mentioned private equity investors believe that behind the ups and downs of Shanghai local science and technology board, it is the stir-fry of hot money.

According to the data of the public and the public on November 16th, the first name was CITIC Securities Shanghai Branch, the purchase amount was 167 million yuan, and the third place in the sales position was Tibet Oriental Fortune Securities Lhasa Unity Road. A securities business department sells a total of 33.92 million yuan. These business departments are relatively well-known hot money seats in the secondary market.

From the data of Zhangjiang Hi-Tech on November 16th, there are also hot money figures. The first place to buy the Dragon and Tiger List is Zheshang Securities Shaoxing Branch, the purchase amount is 75.09 million yuan, the fourth place to buy is the Galaxy Securities Shaoxing Sales Department, the purchase amount is 46.69 million yuan, these two seats They are also the sales offices of Zhejiang famous hot money.

However, in Shanghai's local science and technology concept stocks, Zhang Jiang's high-tech performance can also "support" the stock price.

As of the first half of this year, Zhangjiang Hi-Tech invested in Shanghai Financial Development Investment Fund (Limited Partnership), Shanghai Wuyuefeng Integrated Circuit Equity Investment Partnership (Limited Partnership), Shanghai Microelectronics Equipment (Group) Co., Ltd., Shanghai Zendai Himalayan Network Technology Co., Ltd. and many other funds and companies.

According to Zhangjiang Hi-Tech's third quarterly report, in the first three quarters, the company achieved a net profit of 458 million yuan, a year-on-year increase of 16.01%. Regarding the stock price change, Zhang Jiang Hi-Tech explained: “The non-real estate equity investment business is small in scale and contributes little to the company's profit and will not have a significant impact on the company's recent operating results.”

Compared with Zhangjiang Hi-Tech, Green Court's investment performance is at a loss. Insiders of Green Court Investment told the "Securities Daily" reporter: "The internal management of the company is normal, the fundamentals have not changed substantially, and the stock price of the secondary market is made by hot money. I hope that investors will pay attention to risks."

"The recent hot money speculation is a bit too much. We often receive exchange calls from the exchanges. Let us disclose the reasons and risks of stock price fluctuations. It is also very helpless for us to become 'Xiangyu'. Some troubles, in fact, we run business as usual." A vice president of a listed company that is not willing to be named Shanghai Local Science and Technology Concept told the Securities Daily.

In addition, as a company with city gas and urban transportation as its main business, Volkswagen Public has also experienced an astonishing increase in the past two weeks. On November 5 and November 6, it has been up for two consecutive days, and it will be re-collected on November 15 and 16. Two daily limit boards, an increase of more than 40%.

However, the third quarterly report showed that public utility net profit fell by 5.93% year-on-year, and cash flow from operating activities fell by 78.94% year-on-year. Regarding the stock price change, the public public said that there is no significant information that should be disclosed but not disclosed.

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