Long-selling institutions and investors in Xiangjiang have great expectations for the listing of TCG, and will also become the target of joint attacks by short-selling institutions.
The reborn person has a premonition that on the first day of listing, both long and short institutions will start a fierce battle on tcg.
The capital market relies on strength and credibility!
htic has prepared a huge amount of HK$5 billion in institutional accounts, and the current daily trading volume of the Hong Kong Stock Exchange is only about HK$14 billion.
After the completion of the IPO, tcg had a huge sum of HK$27,744.95 million in its HSBC account. This is the asset of all tcg shareholders and is earmarked for special use. Investments exceeding HK$1 billion require authorization from the tcg board of directors, as the controlling shareholder, company legal person and chairman. , Sun Jian has the right to mobilize 1 billion Hong Kong dollars in capital investment as long as it is beneficial to the company's development needs.
With the approval of the board of directors, htic and tcg signed an entrusted financial management contract. Tcg handed over 5 billion Hong Kong dollars to htic, 3 billion Hong Kong dollars to protect the market (transferred to securities investment after 30 trading days), and 2 billion Hong Kong dollars to invest in securities.
The two parties agreed in writing that within one year, if the profit is less than 10%, 19% will be divided (TCG accounts for 90%, the same below); if the profit exceeds 10%, but less than 20%, the profit will be 28%; if the profit exceeds 20%, but less than 30%, 30% to 70%; if the profit exceeds 30%, 40% to 60%; if the profit exceeds 40% and above, 50% to 50%.
It is agreed in writing that 10% of htic’s investment profits will be rewarded to management and ordinary employees according to their contribution.
TCG and the three lead underwriters signed a green shoe system, promising that if TCG falls below the issue price of HK$28.35 within 30 trading days, it will use HK$6 billion (of which TCG will use HK$3 billion and the three lead underwriters will use HK$3 billion) , purchase stocks on the secondary market, maintain the company's stock price, and protect the interests of tcg investors.
Sun Jian originally had no plan to backhand the June contract of the Hang Seng Index futures and wait for the June contract to expire and be delivered, but the plan could not keep up with the changes. In order to create a good market environment for the listing of TCG, he temporarily decided to go long the June contract of the Hang Seng Index futures. contract!
On November 1 last year, when the Hang Seng Index was at 9320 points, through Wang Dongming, Chen Huamin was instructed to invest HK$200 million to go long on the June Hang Seng Index futures contract, increasing the leverage by 10 times. Unexpectedly, in more than two months, the Hang Seng The index exceeded 12,000 points, a surge of nearly 30%!
What goes up must come down!
Instruct Chen Huamin to short the June Hang Seng Index futures contract!
From short selling at 12058 points to now, the stock index has plummeted by nearly 30%. Now the June contract of Hang Seng Index futures has not yet been delivered, and its market value is as high as more than 352,000 Hong Kong dollars!
The Hang Seng Index has plummeted 31% in more than two months. Although it has not fallen to the bottom yet, it will definitely rebound significantly!
At today's point, even if you go in the opposite direction, the profit will only be reduced by June 30th!
Grab the rebound and the chance of profit is greater than the loss!
A huge sum of HK$1 billion was invested in the stocks of HSBC, Hang Seng Bank, Standard Chartered Group, Sun Hung Kai Properties, Henderson Land, Cheung Kong Holdings, New World and Sanxin Properties. Regardless of costs, the stock prices rose in a straight line.
The confidence of investors rushing to rebound and the pent-up bull institutions surged, and huge amounts of buying orders poured in...
The June contract of Hang Seng Index futures worth more than 352,000 Hong Kong dollars suddenly flipped long. The main short sellers of Hang Seng Index futures could not bear it in a short time and were immediately defeated. The Hang Seng Index futures index instantly soared by more than 130 points!
The Hang Seng Index was pulled straight up from 8596 points, and instantly exceeded 8600 points... 8700 points!
The bull institutions, which had been suppressed for more than two months, were elated, their enthusiasm for long positions was aroused, and they launched an aggressive attack. The short sellers retreated one after another and were completely defeated... 8800 points... 8900 points!
Short-selling institutions have turned their guns one after another, and waiting investors and institutions have also joined the long camp...
9000 points!
The bulls took the initiative and did not give the bears a chance to counterattack, beating the loser. The market finally closed at the highest point of 9152 points, with great momentum!
The market rose by 485 points, or 5.6%, and trading volume increased by 70%!
Volume surge!
On the 23rd, affected by the news that TCG was listed for trading on the 24th, the Hang Seng Index opened at 9198 points, opening 46 points higher. The short sellers did not expect that the opening point was the lowest point. The bulls made great efforts, and the stock index rose all the way, breaking through 9300. At 9250 points, profits from yesterday's rebound came out. The bulls retreated to 9250 points. The bulls and the shorts fought fiercely around 9250 points. At the opening of the afternoon, under the leadership of the main bulls, they attacked the city and broke through. The market broke through 9300 points... 9400 points. !
The market closed at its highest point of 9478 points, up 326 points or 3.6%, and the trading volume increased by 50%!
Volume surge!
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March 24, 1994, is a memorable day for those who are born again.
tcg landed on the Hong Kong Stock Exchange!
At 9:20, Sun Jian led Li Tao, Liu Yue, Wang Dongming, Yu Jianguo, Wang Xiannian, Ye Mingxin, Zhu Zhijie, Li Guoliang, Zhang Yongjun, Hong Zucheng, Song Yuanxing and Chen Yongqing in the trading hall of the Hong Kong Stock Exchange and sounded the tcg Listed gong.
At 9:25, TCG opened at HK$34.88, with 570,000 shares traded, and more than HK$19.88 million traded, an increase of HK$6.53, or more than 23%!
The Hang Seng Index, which the media calls TCG, the No. 1 high-tech blue-chip stock on the Hong Kong Stock Exchange, opened higher due to its listing. It opened at 9618 points, opening 40 points higher!
The Hang Seng Index surged 9.3% in two trading days!
All the good things are bad!
Profits poured in, quickly filling the gap, and the market turned red...
Profit orders of 100,000 shares and 200,000 shares poured out, and tcg fell below 34...33...32...31 Hong Kong dollars!
Buying orders for 200,000 shares and 300,000 shares continued to pour in, and tcg exceeded 32...33...34...35 Hong Kong dollars, setting a new listing high!
Investors were buying up but not down, buying orders were pouring in, and the stock price continued to rise by leaps and bounds, 35...36...37 Hong Kong dollars!
The market turned green, breaking through 9500 points... 9520 points... 9550 points...
Profit orders poured out, 36...35...34...33...32...31 Hong Kong dollars!
9540 points... 9530 points... 9520 points... 9510 points... 9500 points!
tcg fluctuated back and forth from HK$32 to HK$36, and the long and short sides fought fiercely!
The Hang Seng Index fluctuated back and forth from 9500 points to 9530 points. The market fluctuation curve was exactly the same as the TCG stock price fluctuation curve!
TCG closed at HK$35.18 in the morning, up HK$6.83, or more than 24%, with more than 46 million shares traded, and a transaction value of nearly HK$2.1 billion, accounting for nearly 30% of the total turnover of Hong Kong stocks in the morning!
The market closed at 9495 points in the morning, up 17 points, and the trading volume increased by 20%!
At the opening of the afternoon, tcg fluctuated around 35 Hong Kong dollars. Both the long and short sides changed hands actively. The main bulls were very patient, allowing the profit-seekers to make profits and let the bulls buy the stock. The market was also clearing the profit-taking, at 2:30 After that, buyers poured in, and tcg broke through 35...36...37...37.18 Hong Kong dollars!
Another new listing high!
Under the pressure of profit taking, it finally closed at HK$36.88, an increase of HK$8.53 throughout the day, an increase of more than 30%, with more than 87.5 million shares traded, and a turnover rate of less than 10%!
Global institutional investors are optimistic about tcg’s market outlook!
The Hang Seng Index also exceeded 9550 points... 9560 points... it pulled back in late trading and closed at 9538 points, an increase of 60 points, or 1%, and the trading volume increased by 20%.
Increased volume!
Inside the institution, Sun Jian, Guo Jingdong, Li Dong and Chen Huamin breathed a sigh of relief!
Li Dong took advantage of the sharp rebound in the market and sold 60% of the stocks that had rebounded to take profits!
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