Stock Bar has exploded.
"Securities Regulatory Commission has made an announcement, there is no insider trading! Where are those who reported it? Come out and take a few steps!"
"Henglong Today's increase is not a speculation on performance, but a speculation on certainty.
Securities Regulatory Commission endorsed Zhao Chen - there is no problem with his investment decision and his research ability is really strong."
"What about those people who scolded Zhao Chen before? Come out and apologize!"
There are also people who analyze calmly.
"Securities Regulatory Commission's announcement made it very clear that Zhao Chen started paying attention to Shunxin Agriculture after he had a phone call with Cheng Jiaxun on March 20.
Cheng Jiaxun just mentioned that 'this company is building a pig farm' without disclosing any inside information.
Zhao Chen asked Chen Xi to check. Chen Xi checked the public information and found that Baijiu's business was undervalued, so he started to buy it.
The whole process was clean and without any irregularities."
There are still people digging for details.
"The several brokerage research reports listed in the announcement were all released between March 2 and March 16.
Henglong opened Board of Directors on March 22, and started building a position on March 23.
What does this mean? It means that Zhao Chen did not know the inside story in advance, but that he made a judgment faster than others after reading the research report.
This is called professionalism, not insider knowledge."
At the opening in the afternoon, Henglong's stock price continued to fluctuate at a high level, falling slightly before closing, and finally closed at 26.8 Hong Kong Dollar, up 15.2% throughout the day.
Trading Volume is five times the average over the past month, and its market value exceeded 15 billion Hong Kong Dollar.
The moment the closing bell rang, Chen Xi stood in front of the window of Trading Room, looked at the number on the screen, and took a long breath.
Su Wantang came over and handed her a cup of tea. "What are you thinking about?"
Chen Xi took the tea cup.
"I miss Zhao Zong. He just said, 'This is what it should be, not a surprise'. Do you think he is sick?"
Su Wantang smiled.
"He's not sick. He already knew this would be the result. So he doesn't need a surprise."
Chen Xi looked out the window and was silent for a while.
"Wantang, do you think Zhao Zong really has a time machine?"
Su Wantang was stunned for a moment. "Why do you ask?"
Chen Xi said, "Look at the things he did - Shunxin Agriculture, Bubble Mary, Yunnan Agriculture, Tesla, SpaceX.
Everything is like seeing the answer in the future. Sometimes I really wonder if he has come back from the future."
Su Wantang looked at her and was silent for a long time. Then she smiled.
"Whether he came back from the future or not, he is the Xiao Chen we are familiar with now. That's enough."
Chen Xi thought about it and smiled. "You are right. This is enough."
After the market closed, Securities Regulatory Commission's announcement was repeatedly interpreted in major investment communities.
On Snowball, an article titled "Securities Regulatory Commission endorses Zhao Chen: Henglong Capital's innocence and ability" was pushed to the homepage.
The author breaks down the key time nodes in the announcement one by one and analyzes the logic behind them one by one.
"First, Zhao Chen had a call with Cheng Jiaxun on March 20. This point in time was the starting point for Henglong to pay attention to Shunxin Agriculture.
Note that the main content of the call was Yunnan Agriculture's production capacity planning, and Cheng Jiaxun just casually mentioned at the end that Shunxin Agriculture and Animal Husbandry was 'rapidly building a pig farm'.
Cheng Jiaxun himself has no knowledge of Shunxin Agriculture's Baijiu business, and has not disclosed any non-public information.
Therefore, this call record proves that the path through which Zhao Chen obtained information is clean."
"Second, the brokerage research reports collected by Chen Xi.
The announcement listed six brokerage research reports from March 2 to March 16, each of which gave positive expectations for Shunxin Agriculture's Baijiu business.
These research reports are public and anyone can read them.
Henglong Capital makes investment decisions based on this public information, which is fully compliant."
"Third, the Board of Directors resolution on March 22.
Henglong Group has a complete set of investment decision-making procedures - proposal, discussion, voting, unanimous vote.
There are no procedural flaws."
"Fourth, the time to open a position. Start building a position on March 23 and complete it on April 4.
Shunxin Agriculture's first quarter report was released on April 28.
Henglong Capital opened a position before the performance was released, but this is precisely the essence of value investment - to place the position before the performance is realized and to harvest after the performance is realized.
If you wait until the first quarter report is released before buying, the stock price will not be 18 yuan."
The last paragraph of the article is very heavy writing.
"The investigation conclusion of Securities Regulatory Commission not only cleared Henglong Capital of the suspicion of insider trading, but also supported one thing from the side--
Zhao Chen's investment vision and decision-making ability are really strong.
While everyone was still looking at Shunxin Agriculture's pork and real estate, he saw Baijiu.
While everyone is still waiting for the first quarter report, he has already taken action. This is not insider information, this is professionalism."
In the comment area below the article, those investors who reported Zhao Chen were scolded bloody.
"You people, if you don't have the ability to make money yourself, you don't want to see others making money.
Report? Report what? They are innocent, does your face hurt?"
"What about those big V's who spread rumors? Didn't they say before that Zhao Chen 'must have an inside story'?
Now that Securities Regulatory Commission has made an announcement, you should come out and say something!"
"Henglong's stock price rose 15% today, and the market is voting with money.
Those of you who report it, the money you lose is the IQ tax you pay."
But some people are still stubborn.
"Just because it can't be found doesn't mean there is no problem. Securities Regulatory Commission is not a panacea."
This comment received thousands of scolding replies, and the person who posted it finally deleted it himself.
Zhao Chen didn't read those comments.
He put his cell phone on the coffee table, leaned on the sofa, and looked at the sunset outside the window.
Su Wantang came over with two cups of tea and handed him one. "The stock price has risen a lot today."
Zhao Chen took the tea cup. "Yeah."
"Are you unhappy?"
Zhao Chen took a sip of tea.
"I'm happy. But I know that this price is not the end. Shunxin Agriculture's Baijiu business is still increasing in volume, and the valuation has not yet been switched in place.
When the market fully digests the quarterly report data, the stock price will continue to rise."
Su Wantang sat down next to him. "How high do you think it will go?"
Zhao Chen thought for a while. "I think more than 40 yuan will appear. The target price of the brokerage is 33 to 56 yuan, and our cost is 18.17 yuan.
When it reaches 40 yuan, the floating profit is 120%. When it reaches 50 yuan, the floating profit is 175%. At this position, we can sell it at any time."
Su Wantang looked at him. "When do you plan to sell?"
Zhao Chen was silent for a while.
"No rush. Wait for the market to finish switching the valuation logic. Baijiu gives 20 times PE. Based on the predicted net profit of 577 million in 2017, the market value is 11.5 billion.
However, Shunxin Agriculture's Baijiu business accounted for 80% in the first quarter. If the market gives it 30 times PE, it will have a market value of 17 billion, corresponding to a stock price of about 30 yuan.
If we add 40 times PE, that would be a market value of 23 billion, corresponding to a stock price of more than 40 yuan. This switching process takes time."
Su Wantang didn't ask again.
She just sat quietly next to him and watched the sunset outside the window with him.