Rebirth: The Financial Giant

As soon as the news from Tiansheng Capital was announced, it was wildly interpreted by the market in all directions, analyzing the structure word by word, and not letting go of every detail.

Among them, the most attractive, and even shocking to the outside world, is the word existing in the phrase there are already 22 institutions.

This prefix is ​​very interesting, doesn't the subtext mean... There are more than 22 institutions?

That is, there are more institutions?

If there are only 22 institutions, then the wording of Tiansheng Capital's newsletter should be 22 institutions in total or 22 institutions without the prefix, but in fact there is no such wording in the content of the newsletter, in other words 2083 Millions of dollars are very likely only part of it.

Tiansheng Capital is such a large institution with such a large influence, the weather vane of the stock market, and the barometer of the economy. These words fully explain its influence.

As long as the information is officially released, the market will interpret it wildly, with countless pairs of eyes staring at it and countless magnifying glasses looking at it.

Because everyone knows that such an organization will have a huge impact on the market because of its every move, the content and wording of the published content must be rigorous.

It is based on this that the market speculation is mixed.

At the same time, in the A-share market, the original net outflow of northbound funds has turned into a net inflow. The huge amount of liquid cash received by Tiansheng Capital of nearly 1.5 trillion is used for overseas market investment or investment in the domestic market. , if you enter the domestic market, whether to finance the primary market or the secondary market.

The specific flow is important, but also not important.

Because Tiansheng Capital's total liquid cash has rapidly expanded, and your overall liquidity has surged anyway, you must give your money a place to live, right?

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At around 10:00 in the morning, the market continued to fluctuate upwards, while Tiansheng Holdings' gains expanded to +2.26%, and the subject stocks also began to pick up.

The strength of the broader market is because the market interprets this briefing from Tiansheng Capital. Some funds use this as a basis to predict that there will be significant progress in the ongoing high-level negotiations, so they enter the market and open long, and short-term funds directly bet that the negotiations will improve.

It is simpler and more direct for Tiansheng Holdings to soar. The news is directly related to Tiansheng Capital.

Not to mention anything else, the subscription fee of US$208.3 billion alone is an astronomical figure. If other asset management institutions can entrust such a huge amount of funds, the subscription fee will definitely be waived, and the management fee will be reduced as much as possible. How many.

However, the management fee of Tiansheng Capital should not be less than 2.5% per year, the subscription fee should not be less than 1%, and the excess profit commission should not be less than 20%.

In other words, when the 208.3 billion U.S. dollars is received, an additional 1% will be paid as the subscription fee, which is 2.083 billion U.S. dollars, or about 14.9 billion yuan.

And from now on, the annual management fee of this money will be 5.2 billion U.S. dollars, or about 37 billion yuan.

This is why BlackRock, the world's largest asset management giant, manages far more assets than Tiansheng Capital, but it currently only has a market value of $63.8 billion.

It is also the reason why Tiansheng Capital can occupy the top spot in the market value of listed companies in the world with a market value of US$1,073.2 billion. It is also the market value of this giant company after ex-rights and ex-dividends.

BlackRock Group currently manages more than 5 trillion US dollars of assets, Tiansheng Capital manages assets of 3 trillion US dollars, and BlackRock has an additional 2 trillion US dollars, but its market value is only Tiansheng Capital's. Not even zero.

The reason is, of course, that Tiansheng Capital's earning power is more than BlackRock's 18th Street.

The scale of money management reflects influence, but the size of a company's market value reflects its ability to make money.

It's two different things.

For the shareholders of Tiansheng Capital, compared with how much money you can manage, shareholders are more concerned about how much money you can earn, because this is directly related to the rights and interests of shareholders.

BlackRock's performance last year, according to North American GAAP, was $4.305 billion.

In the same year, Tiansheng Capital’s net profit excluding exchange rate changes was US$97.1 billion.

Tiansheng Capital's annual net profit in the same period was 22.5 times that of BlackRock, and its current market value is also 16.8 times that of the other party.

In fact, this is also an important logic that the market has always felt that Tiansheng Holdings is still undervalued. Comparing the performance of BlackRock, the world's largest asset management giant in the industry, the current total market value of Tiansheng Capital should reach 1,435.5 billion US dollars, equivalent to RMB. It should be 10.28 trillion yuan, and the corresponding stock price should be 128,561 yuan per share.

Therefore, the stock king's valuation is still undervalued.

But then again, valuing Tiansheng Holdings is a very painful thing for many analysts in the industry, because the company's stock price has been rising and has been undervalued.

In the previous May and June, the value was revalued once, and it directly topped four consecutive daily limit boards. When the dividends, ex-rights and ex-dividends were not filled, the first board was topped. At this time, the market feels that the current valuation of the stock king is still slightly low. A little bit, but not as outrageous as the gross underestimation in May and June.

But as soon as today's news came out, the valuation of Tiansheng Holdings was obviously underestimated again, and since then, more than 37 billion management fees have been added every year to guarantee income during drought and flood.

Many institutional analysts in the industry have already started their work, throwing the analysis report on Tiansheng Capital's third-quarter performance that was prepared but not yet sent into the trash, and re-writing the research report.

Tiansheng Capital's third-quarter results will definitely exceed market expectations again, and analysts who have already issued research reports will write a new research report that raises their expectations.

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When the market bottomed out, rebounded, and became stronger, most retail investors were still in the doubtful stage, and they all focused on this announcement from Tiansheng Capital.

Seeing that the market couldn't stop the car, he released major good news, letting the stock market rise to lead the securities sector to go up, and then drive the market to stop falling and rebound, and stabilize the market.

Most retail investors are not wrong to understand this, and it is true.

However, this is only one of the functions of Tiansheng Capital’s newsletter this morning. Most retail investors have understood this level in a short period of time. Few people have been linked to the ongoing high-level consultation through the content of the newsletter, and the volatility of the foreign exchange market. There are not many investors who pay attention, and there are even fewer investors who can discover and quickly analyze the correlation in the foreign exchange market.

As a result, many people began to sell and sell when the market rebounded to around 10:30, which caused the broader market to rise and fall.

Most retail investors believe that this is forcibly pulling Taiwan stocks to protect the broader market index. It is true that the good news released by Tiansheng Capital is good for the stocks, but in the eyes of retail investors, the labor and capital cannot afford the big rise in stocks.

...

Opening in the afternoon, the Shanghai and Shenzhen stock markets quickly turned red, and maintained a volatile upward trend, and the subject stocks accelerated their recovery.

During the noon break, investors from all walks of life in the market were also analyzing the situation in the morning market, and exchange platforms such as the stock bar were also chatting. Many people saw the news of Tiansheng Capital, and the company made a lot of money just from the subscription fee of this fund. 15 billion, the third quarter financial report is definitely not bad.

Looking at the current time node, it is time to speculate on the concept stocks of pre-increase in the third quarterly report.

During the noon break, the market began to speculate on the pre-increase in performance.

So the market opened in the afternoon, and the concept of pre-increase in the third quarter broke out. Jiuli Special Materials, Guangqi Technology, Global Services, Xuji Electric, Tianshun, Yiwei Lithium Energy, Baoding Technology, Shuangwei Digital, Tianyin Holdings Wait for the limit.

Another major sector with strong performance is domestic chips. When the market started to rebound in the morning, the chip concept sector has already begun to rush. The daily limit of stocks, Kodak shares, Shengbang shares, etc. have also risen.

Since August, the trend of the technology sector has been very good, especially in the first half of September.

The best performance of the big technology category in the third quarter was the new energy sector, followed by semiconductors, especially the new energy sector, which was the absolute main line throughout September.

However, in the four days when Tianchi Technology peaked at 271.91 and started the tragic A-word sell-off, not only did new energy collapse, but other technology stocks were also brought down.

This afternoon, the market capital sought the concept of pre-increase in the third quarterly report, especially Tiansheng Holdings. The third quarterly report must be very powerful. As soon as the news comes out today, there is a high probability that it will exceed market expectations.

As of the close, Tiansheng Holdings' after-hours quotation was 97,358.06 yuan, up +3.58%, with a daily turnover of 21 billion yuan and a total after-hours market value of 7.78 trillion yuan.

The Shanghai Composite Index closed at 2,924 points, up +0.39%; the Shenzhen Component Index closed at 9,506 points, up +0.34%; the ChiNext Index closed at 1,622 points, up +0.36%, and the broader market closed with a shadow line. The closing price is the highest price in the whole day. The market opened lower and moved higher as a whole, out of a shrinking and rebounding market.

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