Rebirth: The Financial Giant

On Monday, August 8, Tiansheng Capital Headquarters, CEO Office.

"Please come in."

An Yirou entered the office and handed a copy of the financial report to the desk, "The company's consolidated interim report this year has been audited."

Interim and semi-annual reports are the same thing.

Lu Ming picked up the performance report and opened it at a glance. This financial report is the consolidated financial statement of the major subsidiaries of Tiansheng Group. In a sense, Tiansheng Holdings itself, which is designed with a dual-class share structure, is only a shareholding platform. The performance statements are mainly reflected in the consolidated statements of Tiansheng Ventures, Tiansheng Fund and other subsidiaries.

In the first half of the year after the consolidation of Tiansheng Capital, the total revenue was 6.237 billion yuan, a year-on-year increase of 4.46 billion yuan in net profit, a net profit margin of 71.5%, a year-on-year increase of 4.382 billion yuan in net profit attributable to the parent, and a deducted non-net profit of 4.229 billion yuan at the end of the period. Net assets of 341.573 billion yuan.

The year-on-year growth rate of revenue and profit has reached dozens of times. The reason is that the listing of Tiansheng Holdings is a backdoor process rather than an IPO, but this is only secondary. The main reason is that the company was established early. The half-year revenue is less than 200 million bases, the year-on-year growth rate is of course dozens of times, and the profit is the same.

As for the 2015 fiscal year performance report, it showed that the annual operating income exceeded 20 billion yuan, and the net profit reached nearly 15 billion yuan. This is because there was no further investment after the return of overseas assets and capital markets in the second half of the year, which directly reflected the financial report profit. on the table.

To a certain extent, the performance report of Tiansheng Holding Group, to what extent Lu Ming wants the company's performance to achieve, the accounting department can make it according to his will, and the ability to decorate the report is far stronger than other non-pure investments. nature of listed companies.

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Because of this, the capital market generally does not pay much attention to the so-called ROE, EPS, revenue, net profit and the like when looking at the financial report of Tiansheng Holdings, which is useless.

What really reflects the company's fundamentals is its income statement and price-to-book ratio. The key is to see the changes in Tiansheng Holdings' balance sheet at the end of the period.

There is no doubt that the company's performance in the first half of the year exploded. The actual net assets at the end of the first quarter were 223.79 billion yuan, and now it has reached 341.573 billion yuan, an increase of 117.783 billion yuan in the second quarter, and the growth rate has far exceeded market expectations. growth rate data.

At the end of the period, the company's asset prices soared by more than 50%. The main contribution came from the overseas investment of Tiansheng QDIE Fund. This sector has made crazy profits in the first half of this year.

From the beginning of February, it flipped a lot and started to be long on NVIDIA. For example, this company started from Tiansheng QDIE. The cumulative increase in its stock price has reached an astonishing +144.5%, and it will soon rise to 1.5 times. NVIDIA is A very strong stock in the U.S. stock market this year.

It will continue to strengthen in the future, which is also a major factor in Bitcoin mining.

Other companies such as Amazon, Google, and Activision Blizzard also have good returns. Although the stock price has not risen as well as Nvidia, it is still 40 to 50 percent. The key is that Lu Ming not only bought more of these stocks, but also bought these votes. Call options, here's a big hit.

In this round of investment by Tiansheng QDIE, Tiansheng's own assets have been allocated 91.8 billion yuan in asset prices regardless of exchange rate changes. In addition to the sharp rise in asset prices for overseas investments, domestic assets also contributed 26 billion yuan in asset price growth. .

The domestic contribution is mainly due to the company's creation of the "Tiansheng 150" investment portfolio in June. In addition to the core investment in helping LPs manage money, Tiansheng Capital's own investment also accounts for about 30%. , A group of domestic investors raised a wave of sedan chairs to promote the rise in asset prices, and the price of assets held by Tiansheng Capital in Anshi Group rose.

Although the domestic capital market has fallen again, this is the data for the second half of the year.

Lu Ming quickly browsed the report, nodded his signature and then said to An Yirou: "This interim report will be released directly at around nine o'clock in the evening, without the need for a performance forecast, and the earnings conference call will be changed and pushed to the next week. five."

...

In the evening, Tiansheng Holdings disclosed its performance in the interim report, and the major market software also pushed this news in a small window.

This surprised the market. Tiansheng Holdings did not make a pre-announcement of its interim results. The sudden announcement of results also caught everyone off guard. In fact, there are very few performance reports released at the time point of Big A, and they are basically disclosed in the last few days. .

Generally speaking, the later the release of the financial report is delayed, the less optimistic the business situation will be. Of course, there are also group companies with great business, and the consolidated financial audit of their subsidiaries is not so fast.

It is worth mentioning that Tiansheng Holdings’ mid-term report results are not pre-disclosed. The Shanghai stock market does not have mandatory performance forecasts, but only encourages them. Only the Shenzhen Stock Exchange’s GEM interim report requires mandatory pre-disclosure, and the time is stipulated in July. before the 15th.

The trading code of Tiansheng Holdings starts with 6 characters, which is obviously a shell borrowed from the Shanghai stock market.

Investors were surprised by the sudden release of the results of the interim report. At the same time, they were also shocked by the contents disclosed in the financial report. Ordinary novice investors were also shocked to see the company's revenue and net profit soaring.

Some institutions pay attention to the balance sheet of Tiansheng Holdings at the end of the period, and see that in one quarter, its asset prices have surged by more than 100 billion yuan, and the ratio of an increase of more than 50% is very shocking data.

The comments under the market software are also quite hot.

"What the **** is a 69-fold increase in net profit?"

"Actually, the financial report was issued so early, and there was no advance notice."

"66666, the daily limit tomorrow!"

"Profit growth is not the key. The most abnormal thing is the rise in asset prices. The 52% month-on-month increase in assets at the end of the period is too exaggerated."

"How can the daily limit be possible? Tiansheng Holdings has such a large volume in the securities sector. Its daily limit sector must not go crazy? The key to whether it will rise or not depends on whether the institution is willing to raise its capital."

"I also don't think it is possible to increase the daily limit. The Tiansheng ticket is very paradoxical, and I think the stock price has risen to more than 7,000 yuan. Someone may already know that the performance has exploded. Don't forget that this is an institutional ticket, and it is not an ordinary institutional ticket."

"Everyone, look at the data of its subsidiary Tiansheng Fund. There has been a major change in the top ten holdings of Tiansheng Enchantress. The gold in the mountain is gone? Zhongguo Building is directly full?"

"The 7 constituent stocks of the fund account for 70%, and the top ten holdings account for 87.6% of the total position, which is more concentrated than the last adjustment, which is too cruel."

"Why is the first brother so obsessed with 'Haitian An's Maowulu', as expected of the 'Six Meridians Excalibur'... [laughs and tears]"

"I think this is a big adjustment. Shandong Gold is not in the top ten holdings? Is the first brother cleared or reduced?"

"I bought Beifang Huachuang in mid-July. The quilt cover is almost 10 points. Isn't this a ticket held by Tiansheng?"

"I am also Yiwei Lithium Energy, which is chased by Tiansheng Yaoji~www.novelmt.com~ The current quilt cover is -24%, is there any help?"

"I have lost -24% in Tianchi Materials."

"These tickets have doubled since the beginning of the year when the first brother took a large transaction and opened a position in July. Are you chasing in at this time to take the order for the first brother? Maybe he has already run away!"

"Uh... The market is saying that Tiansheng Capital has 300 billion capital to enter the market, and it must increase its position, so..."

"Hahaha, so you want the first brother to carry the sedan chair? After you look through the financial report, what is the first brother doing recently? He is spending money crazy in the primary market and has invested in more than 20 companies. Are you carrying the sedan chair?"

"Wori, I forgot that Tiansheng Capital still has a venture capital business, hastily, Nima!"

"The new energy sector has been plummeting recently, and lithium batteries are pulling their hips. I think the first brother has run away!"

"Brothers, run duck~~~ [Er Ha]"

...