Rebirth: The Financial Giant

At 13:00 in the afternoon, the market opened as scheduled. The securities sector maintained inertia and fell by nearly 1 percentage point in the few minutes after the opening. It stabilized near the turn of the green, and remained oscillating around the zero axis. The main reason is that the leader of the sector, Tiansheng Holdings It stopped falling when it fell about -6%.

Although the sector did not turn green, the securities sector opened 4.5% higher today, and those who chased in early morning bids were caught.

I thought that the securities companies would stop falling and stabilize, and the market would improve in the afternoon. I didn’t think that the blue-chip weight of the big consumer sector headed by liquor took a big dive in the afternoon, and the decline of Maoti expanded to -8%. Continue to be under pressure.

Seeing that liquor consumption plummeted in the afternoon, the people who came out of these sectors in the early trading and chased after the brokers reluctantly felt a lot of balance in their hearts.

I can only sigh and laugh at myself...

After the close, the Shanghai Composite Index closed at 2,594.82 points, down -3.02%. Before the opening, the index was at 2,675 points. Everyone thought that it would be able to break through 2,700 points in one fell swoop today.

As a result, the big A broke down and broke through the 2,600-point integer again. After standing for a day, it was gone.

And Tiansheng Holdings also closed a big negative line today, closing down -6.28%, the stock price closed at 38,735.58 yuan, and the 40,000-yuan integer mark was also a one-day trip, and the market value evaporated 207.6 billion, which is equivalent to evaporated 1.16 Zhongxin Securities.

The market's analysis and discussion of Tiansheng Holdings' stock has never been less, especially after the total market value has reached 3 trillion in the recent period.

There is no doubt that this company is legendary, especially this year’s performance is unbelievable. Other blue chips with major powers are falling, and there are too many to be cut in half. On the other hand, Tiansheng Holdings has been making new highs all the way.

But after standing on the super volume with a market value of 3 trillion, a voice began to appear in the market, thinking that Tiansheng Holdings has basically ended the era of high growth. To put it bluntly, it has missed the best era of Tiansheng. Now investing in it is Risk outweighs opportunity.

This kind of argument is also discussed in the group by Lao Yang, Brother 8000 and others.

Qunyou: "I think there is some truth to what I said. From the perspective of income, it is correct. Of course, Tiansheng Capital is an excellent non-bank financial company. There is no doubt that, but in terms of return on investment, the future Earnings are certainly not as high as they were two years ago.”

Qunyou: "Indeed, the market value has skyrocketed by nearly 15 times in about three years from the resumption price. It is reasonable to say that it has passed its growth period."

Qunyou: "What do you say about Nageli Electric and Maotai? Their reinstatement price is more than 50 times or even 100 times, and Tiansheng is only 15 times, so where is this..."

Qunyou: "It also depends on the size and scale. Gerry's market value is now in the early 200 billion yuan range, which has doubled by about 400 billion yuan, but what about Tiansheng Holdings now? Assuming that it doubles again, the total market value will exceed 60,000 yuan. The absolute value of the former is 200 billion yuan, and the latter is 3 trillion yuan, but both are 1 times the rate of return for investors.”

Obviously, the main point of the discussion among the people in the group is that Tiansheng Capital is currently too large, and the same income growth requires more capital than other stocks, and thus draws the conclusion that the return on investment is diminishing.

It seems to be quite reasonable, just like the market capital wants to pull a behemoth like Sheng Holdings today to a daily limit. It is almost impossible without a huge amount of capital of several billions. The amount of capital required is often larger, but for some small and medium-sized stocks, hundreds of millions of capital or even tens of millions can easily pull a daily limit.

Not long after, Lao Yang also joined the discussion, and I saw him chatting in voice: "Tiansheng's size is indeed very large, but it is unreasonable to say that the market value will not rise if the market value is large, and the valuation is not high. Gao can't look at it that way."

After a while, Lao Yang continued to chat: "The first step in a company's market value growth is for investors to set an expectation for it, and then the valuation expands, which is reflected in the market as the stock price rises, and then the company's earnings growth will estimate the expectation. value digested.”

"Let's talk about Tiansheng Holdings. From the backdoor listing of about 300 billion to about 3 trillion, first of all investors from all walks of life in the market must be optimistic about the company, including the industry and the company's managers."

"Then we investors will give a certain valuation premium for this. After three years of development to the current 3 trillion, Tiansheng Capital has also proved that it is worth 3 trillion. At this time, the valuation will be pulled back. The next step is to give a second round of valuation, and so on.”

"So a good company should actually expand its valuation, and then the market value reaches a level and starts to fluctuate. During this period, the company's profit growth will absorb the valuation, and then investors will further give new expected growth. Tiansheng Holdings is listed. The market that has come out since then is a breakthrough step by step."

When the people in the group heard what Lao Yang said, they also opened the K-line chart of Tiansheng Holdings for reference. Except for the special time node during the period of skyrocketing and plummeting, other times did indeed take the platform breakthrough shape.

It can be said that the K-line of Tiansheng Holdings is running very beautifully. The market first gives the expected valuation premium, that is, a few big Yang lines rise, and then it starts to fluctuate. After the performance of Tiansheng Holdings comes out, this part of the premium is digested. ~www.novelmt.com~ The stock price immediately broke through to a new level, and so on.

There is no doubt that this is a virtuous positive cycle of corporate profitability and market value expansion. When the performance realizes the valuation, Tiansheng Holdings' investors rarely cash out and leave the market, but will choose to continue to hold, because the company is excellent , there is a high probability of further growth in the future, of course, there is no reason to cash out and leave.

At this time, Lao Yang continued: "I don't know if you have forgotten about one thing, but I have not forgotten that in the first half of the year, the first brother said on his social media website that he would distribute 200 billion in dividends by the end of this year. , this is a clear sign, the probability of Tiansheng Capital reneging on its promise is extremely low, some people say that this expectation has already been paid, but no matter what, the stock price will definitely be able to digest a large part by then, which in turn will free up room for growth.”

"As long as the company still maintains the current growth rate, there is no reason for this stock to leave the market. It is not a problem that the market value is too large. Apple can exceed 6 trillion. Why can't domestic companies have a volume of 6 trillion? You said Apple is high-tech, the stock market looks at the future, there is no comparison, but these are all stories to tell, the capital market is super realistic, if you really can’t make money, capital will immediately pat your **** and leave, and the story has become ACCIDENT."

"Tiansheng Capital is now using its solid performance to prove that its earning power is even higher than that of Apple, not to mention that Zhongxin previously raised the target price of 50,000 yuan, it is not surprising that the target price is 80,000 yuan. ."

Obviously, Lao Yang is a die-hard supporter of Tiansheng Capital. At the same time, his logical point of view is also very clear. As long as Tiansheng Capital can maintain the current momentum and achieve stable performance and meet expectations without losing faith in the market, there is no bearish view of this company. The reason, bearishness does not hold at all.

The performance has not changed, but the stock price has fallen sharply, that is, the gold pit has been smashed, and Lao Yang will not hesitate to hunt for the bottom.

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