Rebirth: The Financial Giant

Chapter 247 [Tiansheng Yaoji's first cash dividend: 200 billion! (6093)】

Qi Wei, who is in charge of the overseas investment sector, has already led a delegation to Wall Street. His mission on this trip is to conduct research, and the companies he researched are the hundreds of listed companies listed in the document Lu Ming gave him at the meeting.

More than half of the company's investment and research department has been taken away by him. With several major interest groups on Wall Street tied to Tiansheng Capital, they have common interests with the local local snakes, and Qi Wei's North American research trip will also be successful. many.

Han Qiulin reported Qi Wei's work report to Lu Ming, and then said, Chairman, the company's interim results have been verified by preliminary audit, and the pre-increase is more than 50%. Do you want to release the pre-increase disclosure in the interim report?

The final audit of Tiansheng Capital's interim report performance has not yet been completed. The Tiansheng Fund Company, Tiansheng Venture Capital and other wholly-owned subsidiaries of the group company must be counted, and the final performance will be reflected in Tiansheng Holdings.

The company has a big business, and it takes a lot of time to calculate the general ledger. However, the pre-disclosed data will definitely increase the performance of this year's interim report. Not to mention the 13.5 billion US dollars of newly added foreign LP institutions, it is only 1 % of the subscription fee, which is about RMB 1 billion.

Regarding the relevant regulations on pre-disclosure of interim report performance, Tiansheng Holdings is a super-cap stock on the main board of the Shanghai Stock Exchange. For companies listed on the main board of the Shanghai Stock Exchange, if the performance of the interim report increases by more than 50%, the mandatory pre-disclosure requirement is not required.

However, the China Securities Regulatory Commission encourages listed companies to make disclosure reports, and the disclosure time is generally before July 15.

Lu Ming took the materials from Han Qiulin and opened the list.

The total revenue of the company's performance in the first half of the year is expected to be 10.8-11.5 billion yuan, a year-on-year increase of 73%-85%, and the net profit is 8.1-8.6 billion yuan, which is expected to increase by 81%-92% year-on-year. The company's total asset size is estimated to be 608.135 100 million yuan, the net asset scale is expected to be 597.358 billion yuan, and the net asset growth is expected to increase by 74.88% year-on-year. Compared with the first quarter, the net asset price has increased by 103.586 billion yuan.

The asset management scale of Tiansheng Capital has reached 1.95 trillion yuan, and the price of assets managed for LPs has risen by 581.9 billion yuan. The ability of asset appreciation is brutal.

Lu Ming roughly read the key data in the material and put it aside, Let's pre-disclose the results of the interim report, and then release it after the close.

Han Qiulin nodded: Okay!

It is worth mentioning that since the establishment of Tiansheng Capital, it has received a total of about 700 billion yuan of entrusted funds from LP institutions, including 13.5 billion US dollars from the three major foreign LP institutions.

That is to say, among the 1.95 trillion yuan of assets under management, 1.25 trillion yuan is floating profit, and this profit has not been realized yet. If it is fully realized, Tiansheng Capital will take a 20% commission on its excess performance. 250 billion yuan can be allocated.

In addition, there is a 2% redemption fee of more than 30 billion yuan.

Of course, the redemption fee is best never to collect the money. After the redemption, there will be no management fee. The management fee of more than 700 billion entrusted funds is steadily charged at about 20 billion every year, which is guaranteed by drought and flood.

There is still a big difference between eating a full meal and eating some meals.

Not counting the redemption fee for the time being, the excess performance commission currently has 250 billion to be cashed. If it is directly cashed now, it means that the net assets of Tiansheng Capital can rapidly expand to 847.3 billion yuan.

The current total market value of Tiansheng Holdings is only over 800 billion, and it is a bit excessive that the scale of net assets can be higher than the total market value.

There was no skyrocketing because of the high degree of control of the institutions, which greatly and deliberately suppressed Tiansheng Holdings' desire to rise. This is a tacit relay game between big institutions.

To put it vernacularly, the rising dividends of this ticket cannot be eaten alone, and this slow-moving trend of independent market will be maintained, so that you can basically get on the bus at any point in time.

The unattainable stock price keeps out the emotional and immature retail investors, and only a small number of retail investors such as institutions and Lao Yang are playing. This is another key factor that makes Tiansheng Holdings stable as an old dog. .

It is difficult to bring the rhythm up because the main force of the institutions inside is not ordinary, and a large number of investors who are not emotional and immature pour into the sedan chairs, and it is difficult for foreign capital to enter Tiansheng Holdings and cut leeks. ascend to the sky.

Because of this, the number of institutional holdings is increasing, and the junk stocks in the eyes of hot money are the treasures in the institution. Because of the huge amount of institutional funds, I like Tiansheng Holdings, a stock with rock-solid fundamentals.

This stock is definitely the most unique among the more than 3,000 votes of Big A at present. Other well-recognized big stocks in the market, such as Maowulu, have also overdrafted their performance for more than three years, and some even overdrafted at the moment. Five, ten or ten years of performance.

Needless to say, listed companies in the semiconductor sector have a price-earnings ratio of 300 or even 500 times.

However, Tiansheng Holdings is a wonderful. The results of the first quarter of this year have just been digested, and the results of the second quarter are being digested. It is now the second half of the year.

Don't look at its expensive share price. Now it has exceeded 10,000 yuan per share, but it is actually seriously undervalued. If the hype logic is fulfilled according to the performance of traditional white horse stocks, Tiansheng Holdings' current share price should be hyped to 20,000 yuan. Not much bubbles either.

Retail investors can’t get in, so institutions are not in a hurry to increase, but eat slowly, and the particularity of the securities business sector where Tiansheng Holdings is located can’t just pull up the daily limit. The top ten holding institutions not only make money, but also play a role in maintaining market stability. stunning.

The rise and fall of Tiansheng's share price reflects not only the fundamentals of the company itself, but also other special functions driving it.

...

Not long after Han Qiulin left, Lu Ming picked up the landline and called Li Mingyang, who came to the CEO's office shortly after.

What is Mr. Lu's order?

Looking at the interim report material in his hand, Lu Ming said: Tiansheng's value growth and mixed capital market has reached an unprecedented 275.5 billion yuan, and the profit market has reached 202.8 billion yuan. There is no need to wait for 300 billion yuan. An announcement will be released today, and in the next month. Inside, Tiansheng Value Growth Mixed Fund will distribute dividends of 200 billion yuan, and it is a mandatory dividend, and it does not accept reinvestment of dividends.

Li Mingyang said in astonishment: Dividend 200 billion? Isn't this equal to closing all the profits? 200 billion selling pressure, Mr. Lu, I'm worried that the market can't bear such a big sell...

This is equivalent to telling the market that I am going to run away, and it is 200 billion chips to be distributed!

Lu Ming said with a smile: I think too much, I can't bear to distribute these chips to the secondary market now. At the same time, the purchase restrictions must be relaxed. There are a lot of Christians queuing up to take orders. The 200 billion dividends will be distributed. Part of the selling pressure will be taken over by the new Christians, and the other part will be taken over by LPs, and the 200 billion yuan will not flow into the secondary market, and the capital market can be maintained at 150 billion yuan after the dividend is distributed.”

After the BOSS said this, Li Mingyang thought about it for a while and suddenly realized, and couldn't help but say, Mr. Lu's trick is brilliant, it's a great trick that can serve many things with one stone, it's wonderful!

Lao Li found out that he was still the BOSS chicken thief, and he was so shrewd to the core.

The operation of the 200 billion cash dividend is not complicated. First of all, it will not bring any selling pressure to the market, and none of the constituent stocks held by the fund will be sold. Then, where will the money come from for the 200 billion cash dividend?

One is to open up the subscription limit for Christian Democrats, and the new Christian Democrats take the share of the subscription in cash. The money will be distributed to the old Christian citizens as dividends. Lu Ming intends to let the new Christian citizens take over 75 billion yuan, which is a net inflow of funds.

The fund still has 75.5 billion of the principal of the old Jimin. This operation is a mandatory cash dividend, not a mandatory redemption of the principal. With the net inflow of the new Jimin of 75 billion, the capital after the dividend will meet Lu Ming's requirements. of about 150 billion.

Lu Ming cherished his chips, they were all chips for big butt votes, and the most violent acceleration was yet to come.

Since it can't be sold in the secondary market, New Foundation has collected 75 billion, 200 billion dividends and 125 billion, who will take over? The answer is to take over the order yourself, that is, Tiansheng Capital’s own funds and the entrusted funds of LP institutions to undertake.

This wave of cash dividend operation is actually an internal adjustment of Tiansheng Capital. LPs are very willing to undertake the 125 billion capital offer, because this is equivalent to receiving the offer at a par. It will inevitably drive the stock price to skyrocket, and the cost price of the chips will not be cheap, and the corresponding risks will be greater.

After such an operation, 200 billion cash dividends were indeed distributed to Christian Democrats, but Tiansheng Capital managed a lot of money, and the nature of the funds changed.

The 75 billion yuan subscribed by New Foundation and the 125 billion yuan received by institutional LPs must be charged subscription fees, management fees, and redemption fees?

As for the previous 200 billion profit-making funds, Tiansheng Capital has no excess performance commission, because there is no fee for the profit distribution of public funds, and the custody fee is not enough compared with the 20% excess performance. !

It doesn't matter if there is less capital in the profit-making market, but with such a large scale of 200 billion, Tiansheng Capital is almost free to work and manage so much money, so it is a bit of a big loss.

You must know that if the 200 billion is the profit-making funds of institutional LPs, Tiansheng Capital can be allocated 40 billion according to the 20% excess performance commission.

However, the profit distribution of the public fund is not gross, and it can only charge a management fee of 2.5% per year.

Lu Ming didn't care about the 4 billion profit, even though 4 billion was a lot, it was still acceptable to endure it.

40 billion is absolutely unbearable, this is a bit too much!

Li Mingyang muttered in his heart, the first brother is definitely an old capitalist.

In fact, the truth here is not esoteric. It is to turn the profit of the public fund into the subscription capital of New Foundation and LP institutions, and then a large amount of subscription revenue will be added, and the future 20% commission is expected.

...