After the market closes, Chen Xi summarizes today's transaction data.
Fenjiu bought a total of about 17 million shares that day. Based on the lower limit price of 31.7 yuan, the average transaction price was about 31.7 yuan, and the transaction volume was about 540 million yuan.
The total share capital of Fenjiu is approximately 866 million shares, and 17 million shares account for approximately 1.96% of the total share capital, close to 2%.
Including the previous bottom positions purchased one after another, Henglong Capital's position in Fenjiu has exceeded 18 million shares, accounting for approximately 2.1% of the total share capital, with a total investment of approximately 580 million yuan.
Regarding Wuliangye, a total of about 19 million shares were purchased that day. Based on the lower limit price of 54.3 yuan, the average transaction price was about 54.3 yuan, and the transaction volume was about 1.03 billion yuan.
The total share capital of Wuliangye is approximately 3.88 billion shares, and 19 million shares account for approximately 0.49% of the total share capital, close to 0.5%.
This is the first batch of bottom positions for Henglong Capital on Wuliangye.
Chen Xi sent a message to Zhao Chen:
"Zhao Zong, Fenjiu's lower limit opened at 31.7 yuan, which is 20 yuan lower than the cost of Huarun.
Today I bought 17 million shares, about 2% of the shares, with an average price of 31.7 yuan and a transaction volume of about 540 million yuan.
Wuliangye also bought 0.5%, 19 million shares, with an average price of 54.3 yuan and a transaction volume of about 1.03 billion yuan. We will continue tomorrow."
Zhao Chen replied, "Don't put too much pressure on yourself, buy slowly."
Chen Xi put down the phone, leaned back on the chair, and took a long breath.
Su Wantang came over with a cup of tea and handed it to her. "I had a hard day today. I bought 1.57 billion in one day, and it was a lot of pressure."
Chen Xi took the tea cup and took a sip.
"Wuliangye is so low that it took us nearly two hours to get 0.5%. Fenjiu is a little better, but you have to eat slowly."
Su Wantang sat down opposite her.
"Moutai drops to the limit and the market panics, but the best buying point is when you are panicking.
This price is 20 yuan lower than the investment cost of Huarun, and the safety margin is sufficient."
Chen Xi nodded.
"So I am determined to buy today. Zhao Zong said that Baijiu Industry's concentration is increasing and the market share of leading companies is expanding.
Fenjiu's performance growth rate ranks at the forefront of the Baijiu sector, and Wuliangye is the absolute leader in the strong-flavor Baijiu.
Buying at this position is not about bargain hunting, it is about picking up money."
Outside the window, the October twilight was getting darker, and the cruise ship on the Yangtze River turned on its lights, drawing a long strip of light on the water.
Chen Xi knows that Moutai may fall again tomorrow, and Fenjiu and Wuliangye may still fluctuate, but she is not worried.
The performance of Fenjiu and Wuliangye is there, the logic of Huarun's investment is there, and the trend of increasing concentration of Baijiu Industry is there.
Any money that falls will come back up.
Tuesday, October 30th.
Moutai's panic over the price limit continued to simmer overnight.
Before the market opened, Chen Xi was sitting in Trading Room, with the capital schedule spread out in front of him, and the pre-market quotes of Fen Liquor and Wuliangye were displayed on the screen.
Fenjiu opened at 31.8 yuan, about 3% lower than yesterday's closing price of 32.8 yuan.
Wuliangye opened at 52.8 yuan, about 2.8% lower than yesterday's closing price of 54.3 yuan.
After the market opened, selling orders continued to pour in.
Fenjiu hit an intraday low of 31.15 yuan, approaching the price limit.
Chen Xi looked at that number and made a quick calculation in his mind - 31.15 yuan, which was a full 20 yuan lower than Huarun's investment cost of 52 yuan at the beginning of the year.
Huarun has a floating loss of 40%, and when Henglong enters the market at this position, the safety margin is much thicker than Huarun.
"Start buying." Chen Xi said to Su Wantang.
The market in the morning was more active than the previous day.
Selling orders are still surging, but buying orders are also much higher than the previous day--
Not only Henglong, other bargain-hunting funds began to appear in the market.
Someone is competing with Chen Xi.
Chen Xi is not impatient.
Her daily plan is very clear - Fenjiu will buy about 13 million shares that day, corresponding to 1.5% of the shares; Wuliangye will buy 5 million shares.
She places orders in batches and is not impatient.
The stock price fluctuated repeatedly between 31.15 and 32.5 yuan. Every time it fell, there were buying orders, and every time it rose, there were selling orders.
Bulls and Bears The two sides competed fiercely in this range. Chen Xi's buying order was like a tireless hand, collecting the chips bit by bit.
In the afternoon, the intensity of Buying Pressure increased significantly.
Not only Henglong, but also several funds entered the market at the same time, and the stock price of Fenjiu was steadily pushed up.
Before the close, Fen Liquor closed at 33.2 yuan, rebounding more than 6% from the intraday low of 31.15 yuan, with an amplitude of more than 10% throughout the day.
The entire day's trading volume hit a record high - more than 2 billion yuan, more than double the previous trading day.
The buy orders of Chen Xi accounted for a considerable part of them.
As for Wuliangye, it also opened low and moved high.
The intraday low hit 52.5 yuan and closed at 54.8 yuan. The trading volume increased several times throughout the day.
Chen Xi bought 5 million shares as planned, with an average price of about 53.5 yuan.
After the market closes, Chen Xi summarizes the transaction data of the two days.
Fenjiu bought approximately 30 million shares in two days, accounting for approximately 3.46% of the total share capital. The total investment was approximately 970 million yuan, and the weighted average cost was approximately 32.3 yuan.
Wuliangye purchased approximately 24 million shares in two days, accounting for approximately 0.62% of the total share capital, with a total investment of approximately 1.29 billion yuan, and a weighted average cost of approximately 53.8 yuan.
A total of approximately 2.26 billion yuan was invested in the two stocks.
Entering November, the panic caused by the Moutai limit gradually subsided, but the overall trend of the Baijiu sector was still weak.
The stock prices of Fenjiu and Wuliangye have repeatedly fluctuated at low levels. Trading Volume has shrunk compared to the end of October, but the market has not yet completely cleared out Panic Selling.
Chen Xi judged that this was a good time to accelerate the opening of a position - the panic was still there and the selling order was still there, but there were not many people willing to cut the meat at this position. If you don't buy it, you won't be able to buy it.
She accelerated her buying pace.
Previously, Fenjiu had purchased about 30 million shares, accounting for about 3.46% of the total share capital, which was still about 13.2 million shares short of the target of 4.99%.
According to the rhythm of 2 million to 3 million shares per day, we no longer test cautiously like before, but directly place orders and take the initiative to buy.
The transaction price also rose accordingly, gradually rising from around 32 yuan to 33.5 yuan.
Su Wantang reminded her when summarizing the data after the market closed, "Costs are coming up."
Chen Xi nodded. "I know. But if you wait any longer, the cost will be higher."
As of November 5, Fenjiu's cumulative holdings exceeded 43 million shares, accounting for approximately 4.97% of the total share capital.
Chen Xi checked the data after the close of the day and found that it was less than 200,000 shares short of 4.99%.
"The last batch will be purchased tomorrow and we will finish the work."
She said to Su Wantang.
On November 6, Fenjiu opened slightly lower, fluctuated within a narrow range throughout the day, and closed slightly lower.
Chen Xi placed a buy order for 200,000 shares in late trading, with an average transaction price of 33.6 yuan.
At this point, the position of Fenjiu has reached 43.2 million shares, accounting for exactly 4.99% of the total share capital, and the position is completed.
Su Wantang summarized the final transaction data:
43.2 million shares, with a weighted average cost of approximately 32.8 yuan, and a total investment of approximately 1.417 billion yuan.