Venture capital immersed in Sinovel 7 funds to make new losses 20 million

Click to view the latest quotes "investor" reporter You Yongming wind power faucet, IPO price of the main board in Shanghai in 20 years the highest record, break 18%, 49 institutions quilt cover, floating loss over 300 million; the listing of two months to implement the "double 10" generous dividend; stock market "Pioneer" Shing, Geo Jidong (Weibo column) will be divided into 100 million yuan (　　Before taxes).　　These words are like a story, the protagonist is this year's listing to break the 2nd-ranked Sinovel wind power. April 13, Sinovel 3-month lockout expires, the network under the placing of 21 million shares can be listed in circulation.　　The closing price of 73.87 yuan/share, compared to the initial prices of 90 yuan has fallen 17.9%.　　On the face of the most light is 49 participating in the network placement of the institutions, including funds, insurance, social security, securities, finance companies, trusts, banking products, enterprise annuity, the total floating loss of 340 million yuan, of which the disaster is the most serious risk.　　Since 2009, the majority of individual investors or investors think of the new need to earn, but the first quarter of this year's IPO broke mmmm, no doubt a heavy slap on this.　　49 organizations floating loss of more than 300 million yuan Sinovel, let the agency disappointed.　　The IPO, crowned by the "wind leader", has allowed the various institutions to choose Madness, and 3 months later, when the share price has shrunk by more than 17%, awkward institutions face another option. Sinovel initial price of 90 yuan/share, the IPO prices in Shanghai's main board market for 20 years the highest record. At that time, there are brokers analysis, 90 yuan corresponding to 2011-year performance valuation of about 25 times times.　　"This is 18 times times the total value of goldwind and the whole industry 20 times times the overall valuation, the stock price has a 25% valuation premium, there is little room for further gains." It turns out that this is not "alarmism".　　January 13, Sinovel from the first day of listing transactions, to many institutions to a "dismount Granville", the day break down 10%, 3 days later, fell to 74.39 yuan.　　April 13, locking expired, locked three months of 49 institutions 21 million shares in circulation, the same day closing price of 73.87 yuan/shares, below the offer price 17.9%, 340 million yuan evaporation.　　This makes including funds, insurance, social security, brokerage, finance companies, trusts, banking products, corporate pension and many other institutions lost.　　The worst is the risk, including Pacific Insurance, Sunshine Insurance, happy life insurance companies, including the total floating loss of 145 million yuan, of which Pacific insurance 117 million yuan, is the most losses in all institutions. After the losses, the securities companies and social security funds, the former floating deficit 69.08 million, the latter is 53.39 million.　　Securities companies, the most losses are CITIC Securities and national securities, respectively, floating losses 17.52 million, 10.01 million yuan. The Social Security Fund, known for its soundness and precision, has also been heavily affected. Including 405, 407, 502, 601, 603, including 5 Social security portfolio in which, total shareholding 3.31 million shares. The most allotment is the 601 combination of YIFANGDA fund management and the 603 Group of Changsheng fund management.Together, all hold 1.03 million shares, each loss of 16.61 million yuan.　　In contrast, the public offering fund overall in sinovel investment in the loss of less, participate in the fund has long Sheng positive configuration, long sein letter full debt, large into the value of growth, GF enhanced debt, million home 180, Yifangda steady income and moderate the stability of the income, such as 7, floating loss of 24.36 million yuan.　　Wind power faucet halo not for new money, Sinovel wind is like blowing a broken balloon, embarrassing situation.　　In early April, Sinovel threw out a generous dividend package, to all shareholders 10 shares to send Red shares 10 shares, the distribution of cash dividends of 10 yuan (including tax), however, such an olive branch for a deep set of institutions dozen new funds, 21 million of cash dividends, it is clear that the 340 million yuan to a huge loss.　　But this is significant for the original shareholder. Sinovel 4th, the 7th largest shareholder is the new union of Tibet, Rui Huafeng can, respectively, holding 105 million shares, 35.7 million shares. and Shing directly hold 85% stake in the new union of Tibet, Geo Jidong directly hold Rui Huafeng can 32.8% equity.　　According to this calculation, the two people in this dividend plan will receive 130 million yuan (pre-tax) dividend. In the case of more than 17% break, institutional investors are facing two ways: continue to hold, reduce.　　Investors reported that some brokerages are trying to lower the stock's future earnings forecasts.　　Participating in the listing pricing of the National Gold Securities, Sinovel 2011 production confirmed that the machine price is about 12% lower than last year, the overall gross margin is expected to be 2% down.　　Profit growth will also slow in the next two years, compared with the 50% net profit growth of 2010, which is estimated at 2011 and 2012 per cent year-on-year growth of 24% and 20%, according to the National Gold Securities estimates, with a corresponding valuation of 22 times and 18 times times for PE.　　An analyst involved in the IPO's inquiry told the investor newspaper that Sinovel faces the risk of continued industry competition, product quality control and rising raw material prices.　　At present, the institutions placing shares accounted for 25% of the current market value, there is a certain amount of pressure.　　Style shares lead broken mmmm in break tide before, destined to have more IPO step sinovel wind power. This year, the A-share market has ushered in rapid expansion.　　Small and medium-sized shareholders basically did not participate in the IPO pricing opportunities, the agency is almost crazy inquiry behavior is "harmful to himself, lifting a stone smashed their feet." According to wind data, this year, as of April 13, the IPO total 98, of which 45 only below the offering price, accounting for 46%.　　To this end, institutions also pay a very small price.　　Break more than 15% of the demeanor of the shares, Sinovel wind power, tin Rui Instruments, Asia-Pacific technology, show strong shares, Zhendong pharmaceutical, public offering funds, social security, brokerage, insurance and other institutions disaster is not light.　　Style shares are most likely to repeat the fate of Sinovel, when the agency faces the same embarrassment. April 13, style shares closed at 28.26 yuan/share, compared to the starting price of 35 yuan,Fell 19.3%, the biggest decline in stock this year. If Sinovel is the biggest casualty of the venture capital, the demeanor shares the sadness to the public offering fund. Participation style shares under the net placing quota institutions have 53, has been floating loss of 120 million yuan. The hardest hit is the public offering fund, involving 7 fund companies of 21 funds, including Cathay Fund, ICBC Credit Suisse under its 6, 5 products "won the bid."