Many institutions are very optimistic that the valuation of Xingyu Technology, a super large-cap stock, on its first day of listing will be around 4 yuan to 4.5 yuan. The corresponding market value is 1.1 trillion to 1.24 trillion yuan, and the corresponding intraday range The increase is around +57% to 77%.
Because there is no price limit on the first day of listing.
The price limit on the first day of listing for new shares was implemented after January 1, 2014. The maximum price increase is 44% of the issue price, but this rule does not exist now.
In the long term, experts and many institutional analysts generally see the target market value of Xingyu Technology as above 2 trillion, and the price per share is above 8 yuan.
Some analysts also believe that as a super large-cap stock, Xingyu Technology's first-day gains are comparable to those of China Construction Bank and Shenhua. When Shenhua went public, it was a high-flying move, and then it hit three consecutive daily limits.
Some institutional analysts are super optimistic and believe that the probability of Xingyu Technology doubling on the first day of listing is extremely high, and it is even expected to directly surpass Zhong Petroleum's 1.6 trillion market value on the day of listing and become the first in the A-share market.
The performance is blown and the fundamentals are blown, the fundamentals are blown and the future imagination is blown. In short, it is all kinds of blowing, and various aspects are optimistic about this stock.
The primary market is booming, and the IPO of Xingyu Technology has become the most eye-catching event in the capital market.
How popular is it?
The total fundraising scale of the initial IPO was 73.71 billion yuan, of which 63.71 billion yuan was allocated to offline institutions and large investors for subscription, and 10 billion yuan was allocated to online new purchases.
The total frozen funds confirmed offline for subscriptions have reached 394.9 billion yuan, more than six times the subscription scale. Institutions are rushing to subscribe, eager to share the 10 billion that will be allocated to retail investors.
However, compared with the total frozen funds of PetroChina's listing that year, which was as high as 3.37 trillion, it still pales into insignificance. The record of frozen funds for PetroChina's IPO has not been broken yet.
But it cannot be generalized. When PetroChina was listed, it was during a super bull market. The market was very optimistic about PetroChina. There were even some people who said, "If you buy PetroChina, you don't have to worry about food and clothing." Jokes.
Now that Xingyu Technology IPO is listed, Big A is in a bear market stage, liquidity has almost dried up, and the market index is also at 2,000 points.
Under such circumstances, there are nearly 400 billion in funds to grab the 63.7 billion, which is already significantly higher than expected.
The primary market is booming, but the secondary market is extremely underwhelming.
After the weekend weekend, the A-share market went sideways for two days. On Wednesday, September 26, the Shanghai Stock Exchange Index fell by -1.24% and hit a new record low. The index closed at 2004.17 points, and the intraday low fell to 1999.48 points. It once fell. It broke the 2,000-point integer mark and closed above 2,000 points after the market opened.
There is no minimum, only lower.
The primary and secondary markets are in a state of ice and fire, and many investors blame Xingyu Technology for the reason why the market fell below 2,000 points.
The reason is that the company's IPO has almost drained the market of funds. Not only has no incremental funds entered the market, but funds have been withdrawn from the market in a hurry to subscribe for Xingyu Technology's initial fund-raising.
Look, 400 billion in funds are almost frozen now.
What I have to say is that it does have a siphoning effect on the secondary market to a certain extent. Some institutions or large investors originally planned to use their money to buy stocks in the secondary market, but now Xingyu Technology IPO is raising funds. He changed his strategy and subscribed for the stock first.
Including some large investors or institutional investors who hold stocks on the market, they may also go out to subscribe for Xingyu Technology's IPO. The total frozen funds of nearly 400 billion are the most intuitive data.
Because the current issuance market value of 700 billion is not only not overvalued, it is definitely seriously underestimated.
S3 mobile phone sales are rising steadily, and the company is also increasing orders for chip processors, opening up new expectations.
Investors in the entire market are extremely convinced that the total market value of Xingyu Technology is definitely in the trillions. Some experts and institutions may have said that it is over 2 trillion, but now it is absolutely worth buying with a market value of 700 billion. Earn, and there is an expectation of doubling.
This kind of business with a high probability of making money, naturally people have to rush to raise funds and compete to participate in the subscription.
However, the secondary market suffered a lot. When the stock index fell sharply on Wednesday, the trading volume of the Shanghai Composite Index for the whole day was only a pitiful 38.4 billion. There was really no one playing, or they were just lying flat and pretending to be dead. Some people still ran away with the funds on the market. There is no external incremental funds at all.
…
The next day, Thursday, September 27th.
When Big A's investors were desperate, incremental funds began to enter the market to protect the market in the afternoon.
The incremental funds that came into the market to protect the market turned out to be Qunxing Capital, which was both protecting the market and buying the bottom. Since the index reached around 2000 points, Qunxing Capital has been gradually buying the bottom and continuing to buy.
As one of the major players in the market, Qunxing Capital does not have the time to build a position in one day like small retail investors.
Today's Qunxing Capital is not what it was two or three years ago. Today's capital volume is completely different. This layout is also for the epic bull market in 2015.
For Qunxing Capital to complete its layout, it will take at least one to two years to complete the bottom position building action.
The strategy of building a position is that if the executor abandons it, I will take it. If you are willing to cut the meat at this position, I will take it. If you don't want to cut it, I will wait. The index is too low. From time to time, I will protect the market and pull it up. The other side of the village will also be happy. At the same time, The turnover rate also came out.
It is no exaggeration to say that with the liquidity currently held by Qunxing Capital, if we pull hard and dry regardless of the cost, we can really lift the entire A-share market from the current 2,000 points to over 3,000 points within a month. There is no problem.
But this kind of "bringing up good people" is obviously not something that can be done, and this kind of thing can only exist in theory.
…
Around 13:15 in the afternoon, the brokerage sector moved up and continued to rise for 15 minutes, leading the market index to rise straight up. Around 13:30, the Shanghai Stock Index once rose by more than 3 percentage points, and the Shanghai Stock Index reached a maximum of 2068 points.
This is why Qunxing Capital is protecting the market, and while protecting the market, it continues to increase its holdings of chips. Just buy it with your eyes closed near 2000 points and that's it.
If you want to protect the market, just pull the three financial idiots with your eyes closed and that's it.
As of the close, the Shanghai Stock Exchange Index rose sharply by +2.60% to close at 2056.32 points. Compared with yesterday's land volume, the trading volume can be regarded as releasing more than 20 billion.
If Qunxing Capital does not take the lead in going long today, the market index will probably go below 2,000 points.
The next day is Friday, September 28, which is the last trading day before the National Day.
In the morning, the Shanghai Stock Index opened lower and moved higher, following a unilateral upward trend. It closed up +1.45% after the market closed at 2086.17 points. It was the incremental funds of Qunxing Capital that acted as the bullish flag bearer to push the index upward.
More than 15 billion entered the market today, and more than 17 billion entered the market today.
The rebound of the two long Yang lines can be regarded as giving investors a stable short holiday.
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