South Glass A by the fund to reduce the 1.9 billion Yuan Yin Hua's six fund heavy warehouse

Far water puzzled near thirst! This is the Yinhua fund heavy warehouse stocks South Glass A recent stock price trend portrayal. Although CSG a announced on April 8 this year targeted additional programs, to further advance into the photovoltaic industry, but unfortunately, this stock in the period from March 18 to April 15, but the fund was led by the main body group to lighten the Fund, staged a 17-day retreat, the total sell-off of the shares of 1.9 billion yuan chips;　　Shares fell 11.51%. In fact, from the exchange disclosed on the bulk of transactions can be found, the stock early on January 19, there have been signs of loose chips, institutional funds are clearly divided, so far more than 2 billion yuan of chips have been sold. According to the Securities Daily Fund weekly reporter observes, in the four quarter of last year's concussion city, the South Glass a obtains the fund the huge ambush, including the Yinhua Department 6 Fund and so on 20 partial stock fund heavy storehouse this stock.　　In less than one months, however, these funds have opted to flee. In this respect, a Beijing brokerage building materials industry analysts in the Securities Daily Fund weekly reporter interview said: "Now the problem is that the market for the 2011 Company's new energy this piece of performance is not optimistic, the domestic other listed companies have a large polysilicon project, backward overcapacity let CSG feel some kind of crisis; The polysilicon industry is raising the threshold for entry, and many listed companies are evaluating the impact, and the capacity of the new project is likely to be limited. "The abandoned New Economy first fund 17 days to reduce the number of 1.9 billion yuan in the middle of the quarter to two quarter of this period (March 16 to April 15), it is the Fund exchange intensive period, although the market successfully through the 3,000 point mark and Rose 5.33%, but this and to cover up the Fund's heavy stock of the change. Comparable 72 of the Fund's heavy stocks (the total share of the Fund shares in the proportion of the current share of the shares of more than 15%) on average fell 5.36%, during which only 11 to achieve the rise, and only 7 to win the market.　　Yinhua Department of 6 funds held by the South Glass A, fell 12.76% in the same period, in the year since March 18 suffered 1.9 billion yuan to the fund led by the main body of funds evacuated, become the first new economy abandoned. According to the Compass agency password data, from March 18 to April 14 (April 15 The stock suspension), the Fund and other main body positions South Glass a fell 7.17%, net selling amount of 1.9 billion yuan, which bought 4.458 billion yuan, sold 6.358 billion yuan, the private equity fund 17 days total increase Warehouse 0.51%, The purchase amount is 630 million yuan, the sale amount is 248 million yuan, net buys 382 million yuan.　　In particular, last week, the main funds to sell South Glass a more fierce: in Monday, the agency net sold the shares of 176 million yuan, in Tuesday the agency net sold the shares of 201 million yuan, in Wednesday the net sale of the unit 203 million yuan, the Thursday agency net sold the shares of 17 million yuan, on the Friday suspension. Securities Daily Fund Weekly reporter noted that South glass A as early as January 19, there have been signs of chips loosening, institutionsThere is a clear divergence of funds, and more than 2 billion dollars have been sold so far. January 19, CSG a issued additional plans, the company proposed to raise funds 4 billion yuan for investment in the total scale of up to 6.065 billion Yuan project. Among them, solar cells and energy-saving glass is the company's future main direction. The same day, the stock to 9.99% per cent of the increase in the trading board, and stunning debut SSE large trading platform, the second to the fourth largest buyers are the agency-specific seats, the total buy 57.4391 million yuan; at the same time, the top three selling seats exclusively is a dedicated body seat, the total sold 63.7136 million yuan.　　At the same time, there are institutions to buy and sell the figure, all show the Fund and other major institutions have serious differences. One months later, February 19, CSG a again two major shareholders to reduce their shares, Deep International Holdings (Shenzhen) Co., Ltd., the new Tong-Industrial development (Shenzhen) Co., Ltd. to concentrate on auction transactions, a year time to reduce their own stocks 10.1655 million shares, 13.8949 million shares, the stock price then fell.　　Earlier, January 20, a media report said, Ping An trust has recently adopted a centralized trading system to reduce some of the South Glass A shares, while the disclosure in the next 12 months may continue to reduce its holdings of the South glass a circulation unit. Yinhua Department of the weight of the 6 funds to increase the 3 rose 3 fell in last year's four quarter of the concussion city, South Glass A won the fund's big increase in positions. According to the financial information data, a total of 20 funds in the end of 2010, a total stock of 235 million shares, the final position accounted for 18.39% of the share of circulating capital. By contrast, last September, a total of 6 funds to the stock, the total shareholding of 110 million shares, accounting for the proportion of its circulation 11.2%, the number of shares in the chain three quarter increased 125 million shares, the shareholding ratio also increased by 7.19 percentage points.　　However, Yinhua ranks among the top ten shareholders of listed companies, but the weight of their holdings has not diminished. Yinhua's 6-share funds hold CSG a, the fund with more shareholding is the Yinhua value optimization, holding 58.6 million shares; the Yinhua-Dow Jones 88 Index retreated thereafter, holding 24.6761 million shares; Yinhua Rich theme, Yinhua High quality growth Two fund holdings also exceeded 10 million shares; Yinhua domestic demand stock ( LOF), Yinhua Harmony Theme Mix before the 10 large warehouse stocks also appeared in the figure of South Glass A.　　According to statistics, the Bank of China fund 6 of the total holdings of the South Glass A-share ticket 116 million shares, the total market value of 2.3 billion yuan; at the end of last year, the total of 5 funds owned by the AG-China fund held a south glass a-share ticket 112 million shares, the total market value of 1.772 billion yuan However, according to the 2010 annual report revealed by CSG, the top ten circulating shareholder's seats Yinhua has been reduced by one, as at the end of last year, only Yinhua core value optimization, Yinhua-Dow Jones 88 Select two fund finalists, respectively, ranked the 5th largest shareholder, the 7th largest shareholder, Total shareholding of 83.2761 million shares, accounting for the share of the shares in the share of 6.54%; at the end of last year's third quarter, the Yinhua 3 fund has a total of 94.7631 million shares, accounting for the share of the shares of 9.65% of the share. Although the listed companies in the "Top ten" fund shareholding decline, but overall, yinhua the weight of the stock has not weakened.　　At the end of the third quarter last year, Yinhua funds accounted for 5.39% of equities, compared to 5.61% per cent at the end of last year's four quarter, according to data. As a result of this year's downturn in South Glass A, the stock price has risen 0.41% since the beginning of last year, running the Shanghai Composite Index 8.22% (the Shanghai Composite Index has risen by 8.63% per cent), Yinhua funds did not obtain a greater benefit.　　If the beginning of the year does not carry out the transfer, Yinhua 6 Fund total float 9.4304 million yuan, and the end of last year, 2.3 billion yuan of the stock market value is insignificant, the most positions of the Silver China to optimize the book floating surplus of 4.7451 million yuan this year. From the list of returns this year, the net worth of these heavy-bin CSG is differentiated. The largest holdings of the silver-Chinese value optimization, since the net increase of 1.94% this year, Yinhua Harmony theme is achieved a higher rate of return of 1.44%, Yinhua-Dow Jones 88 Index is also achieved 4.72% return, while Yinhua domestic demand (LOF), Yinhua quality growth, Yinhua rich theme of the return lost, The rate of return is 8.88%,-6.23%, 5.42%. The average return on net worth of 363 per cent has been 1.05% per cent since this year, compared with the average return of 20 units in South Glass A to 3.15% over the same period.　　Obviously, the downturn of the South glass a trend, make the stock fund feel anxious. The future of polysilicon is hard to reduce the profitability of traditional business "The question now is, the market for 2011 the company's new energy this piece of performance is not optimistic, the domestic other listed companies have a large number of polysilicon projects, overcapacity let CSG feel some kind of crisis; In addition, the polysilicon industry to improve access threshold, many listed companies are evaluating the impact, South Glass, which is preparing to put into production new projects, may be limited in capacity.　　"A beijing-based brokerage building materials industry analysts in the Securities Daily Fund weekly reporter interview. Reporter noted that, according to the Ministry of Industry recently issued the "Polysilicon market access conditions", greatly increased access threshold, the Minimum capital ratio, environmental requirements, project size, reduction of power consumption and other aspects are more stringent requirements, relatively, a group of small polysilicon enterprises have to be out of embarrassment.　　From photovoltaic industry once "the world of Silicon", to the polysilicon industries burst capacity, suffering from the financial crisis price, 2011 polysilicon Industry or in the national macro-control gradually end the jungle scuffle situation. "The introduction of the Polysilicon entry threshold will cause a round of the industry reshuffle, which has just been involved in this area of the South Glass a how the impact, is still uncertain." But it is certain that the global polysilicon glut is too much, even if demand continues to rebound 20%-30% will not help. On the other hand, CSG a traditional glassThe decline in business profitability has become a fact, "lost" or "loss of the wife and the soldiers" or in the company fulfilled. According to the annual report of CSG A2010, the company's solar energy industry main income of 2.26 billion yuan, accounting for the main revenue than 29.19%; The solar industry main profit of 818 million yuan, accounting for the main total profit of 29.22%, the annual contribution net profit of 510 million yuan, accounting for the annual company net profit of 35.17%. In particular, with the investment of targeted additional funds, the transformation is deeper and the company's growth value is highlighted again. But in the face of this data, many brokers are still cautious about their profit growth prospects: Because the domestic technology maturity time generally requires 1-2 years, so the new energy may not be able to continue to contribute to South Glass a continuous profit; At present, the company's performance depends mainly on the traditional glass business support, due to the deterioration of the supply and demand relationship,　　The profitability of traditional industries has been reduced. According to the Securities Daily Fund weekly reporter observes, the flat glass gross margin High point has appeared in the middle of last year, compared with 2010 Year report and 2010 Annual report, the South Glass a flat glass margin ratio has dropped from 50% to 39%. In addition, the engineering glass industry profitability has also declined, in the rising costs and intensified market competition under the double pressure, the company's engineering glass industry gross profit margin for the year 30.04%, down 3.5%; the company's engineering glass for the whole year to achieve a total net profit of 308 million yuan, down 18.95%. Responsible Editor: NF018