July 11, Wednesday, Shan City.
The 1 billion funds approved by Board of Directors were transferred to Henglong Capital's account on the same day.
Chen Xi looked at the string of numbers in the bank account and took a deep breath - self-owned funds of 1 billion, plus a financing limit of 1.5 billion, for a total of 2.5 billion.
All this money will be used to buy Bidiya.
Su Wantang stood behind her, holding a cup of tea.
"Don't be nervous. The total share capital of Bidiya is much larger than that of Shunxin Agriculture, and its liquidity is better. If you throw 2.5 billion into it, it won't cause any splash."
Chen Xi shook his head. "I'm not nervous. I'm just wondering when it will fall below 40."
The opportunity came sooner than she expected.
On July 12, Thursday,.Bidiya opened at 40.2 yuan and fell to 39.8 yuan during the session, falling below the 40 yuan mark.
This is the first time since the end of June.
Chen Xi stared at Time-sharing Chart on the screen, with his fingers hovering above the keyboard. After waiting for a few minutes, he confirmed that the selling orders were still coming in, and then placed the first buy order.
"500,000 shares, price limit 39.9 yuan."
She said to Su Wantang. The deal was done. The stock price was pushed from 39.8 to 40.0, but the selling order immediately filled up and pushed the price back to 39.9. Chen Xi did not stop.
The second transaction, 500,000 shares, with a price limit of 39.8 yuan, was completed.
The third transaction, 500,000 shares, with a price limit of 39.7 yuan, was completed.
At the end of the day, Chen Xi bought 2 million shares, with an average price of 39.85 yuan and a transaction volume of 79.7 million yuan.
The stock price of Bidiya closed at 40.15 yuan, barely holding the 40 yuan mark, but on the market, selling orders were still heavy.
"If it continues to fall tomorrow, continue to buy." Chen Xi said to Su Wantang after the market closed.
Su Wantang nodded and recorded today's transaction data on the fund schedule.
But in the next few trading days, Bidiya's stock price did not continue to fall as Chen Xi expected.
On July 13, Friday, the stock price rebounded to 40.5 yuan, fluctuating between 40.2 and 40.8 throughout the day.
Chen Xi did not pursue the high price and only bought 500,000 shares at an average price of 40.4 yuan.
On Monday, July 16, the stock price fell back to 39.9 yuan again. Chen Xi bought 1 million shares at an average price of 39.95 yuan.
On Tuesday, July 17, the stock price fell to 39.5 yuan during the session. Chen Xi seized the opportunity to buy 1.5 million shares at an average price of 39.6 yuan.
On Wednesday, July 18, the stock price rebounded to 40.3 yuan, and Chen Xi bought 800,000 shares at an average price of 40.2 yuan.
Over the past week, the stock price of Bidiya has been fluctuating repeatedly around the 40 yuan mark.
Every time it falls below 40, Buying Pressure will come in and pull the price back; every time it rises above 40.5, there will be selling orders to smash it down.
Henglong Capital is the most determined bull in the market, but he is far from the only one.
Chen Xi noticed that there were several accounts buying simultaneously on the handicap. The volume was not large, but the rhythm was very steady.
"Someone is buying with us." Chen Xi said to Su Wantang.
Su Wantang glanced at the handicap. "Can you tell who it is?"
Chen Xi shook his head.
"I can't tell. But no matter who it is, someone bought it with us for less than 40 yuan, which means that we are not the only ones who are optimistic about this position."
Zhao Chen knew that Chen Xi was buying Bidiya, but did not ask about the specific details.
His instruction to Chen Xi was only one sentence--
"Don't be in a hurry, buy slowly." Chen Xi remembered this sentence.
She buys 500,000 to 1.5 million shares every day. She is not aggressive or chasing highs. She only sells stocks below 40 yuan.
The stock price of Bidiya saw back and forth in this range, and the position of Henglong Capital was also increasing little by little.
"Zhao Zong," Chen Xi said in a report,
"The position opening pace of Bidiya is much slower than that of Shunxin Agriculture. With Shunxin Agriculture, it took us eleven trading days to complete 5% of the position.
Bidiya bought less than 6 million shares in one week, accounting for less than 0.2% of the total share capital.
At this rate, if all 2.5 billion funds are invested, it will take at least two to three months to buy."
Zhao Chen leaned on the back of the chair and picked up the tea cup.
"No rush. Bidiya's market is large and has good liquidity. Buying slowly will not attract the market's attention.
Moreover, the market is still digesting the negative effects of subsidy reduction, and there is still room for the stock price to fall. The slower you buy, the lower the cost."
Chen Xi nodded. "I understand."
On July 20, the interim reports of Bubble Mary and Yunnan Agriculture Group were also delivered to Zhao Chen.
Bubble Mary's interim report data was even better than Zhao Chen expected.
He turned to the first page, and his eyes lit up with the revenue and profit figures.
Bubble Mary 2018 Semi-annual Report Core Data
During the reporting period, the company achieved operating income of 315 million yuan, a year-on-year increase of 185.43%.
The net profit attributable to shareholders of the parent company was 41.2 million yuan, compared with a loss of 2.3 million yuan in the same period last year, making it the first time to achieve half-year profits.
Net profit after deducting non-profit items was 40.85 million yuan, a year-on-year increase of approximately 48 times.
The net cash flow generated from operating activities was 62.5 million yuan, a year-on-year increase of more than 30 times.
Basic earnings per share were 0.18 yuan, and the weighted average return on equity was 12.5%.
The main reasons for the performance growth are:
First, the core IP Mololoy continues to increase in volume.
The second-generation Blind Boxes series was in short supply after its launch during the Spring Festival period, with sales exceeding 120 million yuan in the first quarter.
The second quarter continued to maintain high growth. In the first half of the year, the cumulative sales of the Mololoy series exceeded 195 million yuan, a year-on-year increase of more than 200%.
Second, store expansion is faster than expected.
As of June 30, the number of Bubble Mary stores nationwide has increased from 30 at the end of last year to 58, and the number of Robot Shops units has increased from 50 to 180 units.
Third, Gross Margin continues to improve.
With the completion of Supply Chain transformation and the expansion of procurement scale, the comprehensive Gross Margin increased from 45% in 2017 to 53%.
Zhao Chen After reading this interim report, he leaned back in his chair and was silent for a while.
"Revenue growth of 185%, and the first half-year profit was more than 40 million yuan. This growth rate is faster than we expected when we invested."
Su Wantang said softly next to him:
"Bubble Mary's annual revenue last year was only 158 million, and it did 315 million in the first half of this year. At this rate, it is not a problem to exceed 600 million for the whole year."
Zhao Chen nodded.
"It's not a problem. Moreover, the second half of the year is the peak season for Designer Toys.
Singles' Day, Christmas, and Spring Festival are all sales peaks.
If the growth rate of the first half can be maintained in the second half of the year, the full-year revenue may reach more than 700 million and the net profit may exceed 100 million."
Chen Xi was flipping through the report and added:
"There is another detail - Mololoy's overseas authorization is still in our hands. When Bubble Mary is ready to go overseas, the value of this piece will be reflected."
Zhao Chen smiled.
"There's no rush. Let's go through the domestic market first. We'll wait until Wang An comes to talk to us about overseas matters."