Latest moves from the renowned fund manager revealed!
Feng Liu has increased his position in a food stock.
According to Angel Yeast Co.,Ltd.'s interim report data, as of the end of the second quarter, Feng Liu's Gaoyishanshanshanyiwang Fund held 35 million shares of the company, making it the third largest shareholder.
Compared to the end of the first quarter, Feng Liu increased his holdings by 3.5 million shares in Angel Yeast Co.,Ltd., with the market value of his holdings reaching 1.231 billion yuan at the end of the period.
Feng Liu's Gaoyishanshanshanyiwang Fund first appeared among Angel Yeast Co.,Ltd.'s top ten shareholders on November 20, 2023, when it held 6.5 million shares. Over the following two years, Feng Liu has made various increases and decreases in his holdings. In the first quarter of this year, Feng Liu increased his position in Angel Yeast Co.,Ltd. by 13 million shares.
Angel Yeast Co.,Ltd. is the world's second-largest yeast company, with core businesses covering yeast and deep-processed products, and vitamin additives. The company has built cost moats through global production capacity layout and technological barriers.
Angel Yeast Co.,Ltd.'s interim report shows that in the first half of the year, the company achieved operating revenue of approximately 7.899 billion yuan, a year-on-year increase of 10.1%, and net profit attributable to shareholders of approximately 799 million yuan, a year-on-year increase of 15.66%.
Recent market developments show the Shanghai Composite Index has continued to rise, with market account opening enthusiasm heating up.
Staff from multiple brokerage business departments revealed that due to the favorable market conditions recently, there has been an increase in customers consulting about account opening, existing customers retrieving passwords, and opening trading permissions compared to before.
Over 300 A-share stocks have doubled this year.
After the Shanghai Composite Index broke through the intraday high from September 24 last year, it hit a new high for nearly four years this week, while the total A-share market has seen trading volume exceed 2 trillion yuan for three consecutive trading days.
As A-shares stand above 3,700 points, renowned economist Liu Yuhui stated on August 15 that to enjoy a bull market, now is far from the time to pick up cigarette butts. One must aim for the stars and seas, position with national strategy, and must converge on companies that breathe and share destiny with national strategy to enjoy the happiness of huge market cap expansion.
On August 16, Liu Yuhui made another statement: In the next year, the CSI 300 could potentially rise to 5,500 points, roughly equivalent to the Shanghai Composite at 5,000 points, representing an increase of about 30%.
The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index have risen 10.29%, 11.71%, and 18.33% respectively year-to-date.
A-share total market capitalization has reached 108.87 trillion yuan, increasing by 15.11 trillion yuan this year. Excluding newly listed stocks, 310 stocks have gained more than 100% this year.
Shanghai Stock Exchange data shows that in July this year, A-share market new account openings reached 1.9636 million, a year-on-year increase of 70.54% and a month-on-month increase of 19.27%.
From current account opening data, institutions' participation enthusiasm in this round of market activity continues to surge, becoming the core incremental source of recent account openings.
Since June, the number of new retail investor account openings has grown relatively slowly compared to the technology rally at the beginning of the year and the "924" rally last year. However, institutional new account openings have continued to climb to historical highs, basically recovering to 2021 high levels.
Industrial Securities believes that in this round of market activity, the characteristics of an "institutional bull market" are gradually emerging. Active public funds have seen "doubling funds" for the first time in three years, with average performance continuing to outperform broad-based indices like the CSI 300.
From a capital flow perspective, leveraged funds and insurance funds have become important incremental capital for the market:
1. Leveraged funds are accelerating inflows. Since the end of June, leveraged funds have maintained net inflows of around 30 billion yuan per week. This week, margin financing balances increased by 45.7 billion yuan, becoming an important driving force for this round of market breakthrough.
2. Insurance capital is frantically buying. After six years, insurance funds have once again moved to increase stakes in insurance stocks, and within two days consecutively increased stakes in two listed insurance companies' H-shares.
According to information disclosed by the Hong Kong Stock Exchange, Ping An Insurance respectively increased stakes in China Life H-shares and China Pacific Insurance H-shares on August 12 and August 11.
According to incomplete statistics, insurance funds have made 27 stake increases this year, far exceeding the 20 times for the entire last year.
Insurance fund long-term investment pilots have made new progress. The application by PICC Asset Management Co., Ltd. to establish PICC Qiyuan Huizhong (Beijing) Private Fund Management Company has been approved by the National Financial Regulatory Administration.
Combined with the first two batches of approved pilot insurance institutions that have all been approved to establish private fund companies, the total number of insurance-based private securities fund companies has increased to 7. According to statistics, 6 insurance-based private securities investment funds are currently in operation.
So far, the three pilot batches total 222 billion yuan (including approved and pending approval pilot scales), injecting more incremental capital into the market.
3. Regarding public fund issuance, as the market warms up, the proportion of new equity fund issuance has increased. Since March this year, the issuance scale proportion of equity funds (active + passive) has increased to over 40%.
4. ETFs, as contrarian funds, saw net outflows this week, with significant profit-taking redemptions in STAR 50 ETF, STAR Chip ETF, and Semiconductor ETF; while CSI 1000 ETF, SSE 50 ETF, and CSI A500 ETF received net inflows.
5. Recently, foreign capital's attention to Chinese assets has continued to heat up. On one hand, northbound capital's trading proportion of total A-share trading continues to increase. On the other hand, according to EPFR data, foreign capital mainly consisting of passive funds has continued to increase allocation to A-shares recently.
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