In the face of fluctuating global stock markets, many investors wait quietly, but value investors are already staring at the good returns with good returns, and even have begun to enter the market and deploy early. These value investors always love this market situation. The middle shots absorb the stocks of high-quality listed companies, because fear often makes people lose their rationality and judgment, but this is also the normal state of investment for Chinese investors.
Once a famous fund manager pointed out that a fund manager who makes big money is not necessarily smart and knows how to calculate, but he/she must be an emotional IQ (EQ). When others are irrational, they often rely on calm analysis to find A good stock with huge growth potential.
Long-term funds love the first gold D shares
Qingdao Haier (600690.SHA), the world's No. 1 home appliance brand, launched its initial public offering on the D-share market last week. It has successfully won the support of a large number of international investors in this Dali environment, including global long-term funds, hedges. Funds, sovereign funds and retail investors finally achieved over-subscription and successfully completed pricing in the extremely volatile global market. According to market sources, the Qingdao Dale’s D-share subscription has been fully covered on the first day. Among them, the long-term fund subscription ratio is as high as 65%, and the hedge fund is 34%, which is much higher than other types of funds. It has repeatedly stated that Haier is not only welcomed by consumers in many countries around the world, but also by long-term investors who are known overseas for their value investment. Love.
It is understood that this issue of D shares is the first D-share of CEIBS, based on the investment culture between China and Germany, the difference in valuation methods, and even the different preferences for the industry, plus the discount for the sale of the second listed shares. The practice is to make the price of new shares for sale larger than the original share price. This is the market practice. With reference to the A+H shares, the two stock markets are basically the same, but the company’s stock value has a huge difference. H-share prices tend to be half of A-share prices, and a discount of 30% is more normal. However, as can be seen from history, this price difference does not have much impact on the same stock in the two stock markets. The market's recent allergic reaction to Qingdao Haier's sale of new shares to overseas institutional investors at a discounted price is in fact a misunderstanding or a preconceived disagreement.
The first 10 long-term value investors subscribed for 75%
Investment depends on the company's corporate culture, management operations, business development, financial strength and mergers and acquisitions. In terms of the above aspects, Qingdao Haier gives the market a positive answer. Therefore, Qingdao Haier's D shares this time. The issue has attracted the active participation of long-term funds from the very beginning. It is understood that among the institutional investors subscribed to this D-share new share, the top 10 parent-line funds account for 75% of the institutional investors. The company's stock price stability after the listing gives good support.
Looking back over the past 10 years, Qingdao Haier's performance has passed the industry cycle, maintained a good growth momentum, and has an effect against the market headwinds and achieved good profitability. In recent years, Qingdao Haier has been relishing the success of GE Appliances, Fisher & Paykel. , AQUA, constantly making impressive results. The development of the three brands has undoubtedly witnessed Haier's forward-looking in the M&A market. This time, the German company has planned to use some funds to acquire Europe. Home appliance brands, continue to expand global business, strengthen development in Europe, and continue to enhance the value of Haier brand in overseas markets through technological innovation and new product development, it is worth looking forward to.
Haier's smart home cloud platform, COSMOPlat and Shunbo platform provide consumers with solutions and meet their evolving consumer needs, thereby accelerating the transition to mass customization and strengthening distribution and retail networks to market Further penetration. Combining the future use of Germany's bridgehead to integrate European superior resources, Qingdao Haier has broad prospects in the global home appliance market.
Qingdao Haier, which officially stands at the center of the European capital market on October 24, will once again ignite the spark of youth at a new starting point, leading with unparalleled enthusiasm.