China Thailand Yue: Fund competing among hidden worries

Jia Huafei Shenzhou (300002.SZ) has been plagued by the single main business of the criticism, but even so, did not hinder it to become a star shares.　　In the first quarter of 2010, the Shanghai Composite Index fell 5.13%, China Tai Yue's shares rose 86.69%, and an unacceptable, on April 6 stood 200 yuan mark, in the April 19 in addition to the rights, has been the only 200 yuan shares of the throne, and on April 17 to create 239.99 yuan in the history of the highest price. Why is it so recognised by the market?　　The company's 2009 Annual Report and the 2010 quarterly release revealed that a number of funds were in the company by the end of last year to the first quarter. Eight funds were among the top ten current shareholders, and the fund showed interest in the company shortly after it was first listed in 2009.　　The annual report shows that among the top ten circulating shareholders, the four funds of the three fund companies of Yifangda, Kerry and Invesco Great Wall are listed. However, compared with the investment of these funds, the first quarter Yinhua and other funds appear more menacing. At the end of 2009, the most shareholding fund easy to reach the small and medium-sized stock investment fund holding 212,700 shares, ranked as the second largest shareholder in the circulation.　　By the first quarter of 2010, their holdings have not ranked the top ten shareholders in the current stock. China Tai Yue Quarterly show that the company's top ten circulating shares of shareholders, there are eight of the fund.　　Yinhua Fund accounted for six seats, a total of 5.1722 million shares, in accordance with the closing price of March 31, 2010, only the Silver China fund a holdings of the Shenzhou Tai Yue stock market value has exceeded 1 billion yuan.　　The impact of the Fund's big purchases, and the gem compared to other stocks, Shenzhou Tai Yue's equity concentration is significantly higher. Data show that at the end of 2009, the top ten circulating shares of shareholders in total holding 1.5223 million of the circulation of A shares, respectively, accounting for 1.2% and the circulation of 4.82% shares.　　By the end of March this year, the top ten circulating shares held 7.2353 million shares, accounting for 5.72% of total equity and 22.9% of circulation shares, 4.8 times times earlier. Asset injection, mergers and acquisitions to bring rich returns to China, Thailand Yue April 20 announced that the company spent 7.095 million yuan to acquire Beijing Interconnection Era Communications Technology Co., Ltd. (hereinafter referred to as "the era of interconnection") 100% of the equity, 10.8 million U.S. dollars to buy a total of 12 million shares in Dalian Huaxin 8% of the equity,　　The transferee is Microsoft China Investment Holdings Limited.　　Wang Yuquan, an analyst at Dongxing Securities, said that after the acquisition of the internet era, the era of Interconnection became a wholly owned subsidiary of the company, enabling the company to quickly obtain the license of value-added telecommunications business operations, enabling the company to carry out the mobile Internet in the field of value-added telecom business. Wang Yuquan also said that the reduction of affiliated subsidiaries also shows that the actual control people focus on the development of listed companies, the control of the quality of assets into the listed companies, in favor of large shareholders will devote more energy to the operation and development of listed companies, to promote the performance of listed companies.　　Dalian Huaxin is currently ranked second in the outsourcing services company, after the Neusoft group, the market share of about 4%, 2009 year to achieve operating income of 700 million yuan,　　The net profit attributable to the parent company is 144 million yuan, corresponding to the earnings per share of 0.96 yuan, the acquisition of 12 million shares cost 10.8 million U.S. dollars, equivalent to the price per share of RMB 6.15 yuan, so the corresponding PE is 6.4 times times.　　Wang Yuquan that in 2010, Dalian Huaxin can achieve a greater degree of profitability than 2009, so as to bring substantial returns to the company, so this is tantamount to a very far-sighted strategic investment.　　Fund away from the market despite the concept of electronic information, High-tech and other concepts as a support, the high price of the Shenzhou Tai Yue is also a dispute over the markets.　　China Tai Yue 2010 Quarterly bulletin shows that the company's first quarter to achieve business income of 166.718 million yuan, an increase of 27.97%, the chain fell 24.6%; net profit 57.158 million yuan, year-on-year growth of 48.36%, the chain down 25.3%.　　Huang Wengo Securities analyst, said that although the reason for the chain decline is during the off-season during the Spring festival, but the China Thai Yue High income growth and gross profit margin significantly increase these two factors to maintain high stock prices have encountered problems.　　A Beijing fund manager also told reporters at the weekend that the current gem stock has a more obvious bubble, many companies have overdrawn the future growth.　　Some sources said that the CSRC has also made a window warning to the fund investment gem. Some indications are that some of the institutions that have been admitted earlier are already evacuating. Due to the recent fluctuations in stock prices, Shenzhou Thai Yue in April 12, April 13, April 15, April 20 four times disclosed transactions. In this number of transaction data, the organization has repeatedly appeared in the sale of seats. With only a few traces to check, the agency has sold 162 million of its total.　　After April 19, the daily turnover of the stock is more than 400 million, the rate of change in the hands of more than 10%, the organization has a larger evacuation opportunities. "If the evacuation is a collective action, the funds that account for nearly 20% per cent of the tradable shares are likely to be withdrawn, and the impact on the company's share price can be imagined." "said a non-sun private equity in Guangzhou.