(Original title: The semi-annual reports of some tens of billions of private equity funds have exposed their shareholdings)

Source: China Fund News

Original title: The semi-annual reports of some tens of billions of private equity funds have exposed their shareholdings?

Large-scale private equity investment operations are sophisticated and decisive, and their position trends have attracted market attention. Recently, with the intensive disclosure of interim reports of listed companies, the holdings of many tens of billions of private equity firms such as Gao Yi, Jinglin, Chongyang, Danshuiquan, and Mingda have been exposed. As of August 25, among the listed companies that have disclosed their semi-annual reports, private equity funds have entered the top ten circulating shareholders of 380 stocks.

Gao Yi's 7 billion position was exposed

Feng Liu and Deng Xiaofeng added positions in pharmaceutical stocks

Gao Yi Asset has gathered many investment experts, and its position trends have attracted special attention. Data show that as of August 25, Gaoyi Asset appeared in the top ten circulating shareholders of 20 listed companies, with a market value of more than 7 billion yuan. The products managed by Feng Liu actively adjusted positions in the second quarter and have appeared among the top ten circulating shareholders of 14 listed companies. In the second quarter, Feng Liu's Gaoyi Linshan No. 1 Yuanwang Fund held 7 million shares of Jianmin Group, ranking as the third largest circulating shareholder.

In addition, Feng Liu also increased his holdings in 7 stocks, including Jinyu Medical, Hisense Home Appliances, Livzon Group, National Inspection and Quarantine Group, Precision Forging Technology, Chenxin Pharmaceutical and Hailide. Among them, Jinyu Medical, Hisense Home Appliances and Livzon Group Tuan is currently Feng Liu's top three holdings, holding 22 million shares, 60 million shares and 17 million shares respectively. As of the end of the second quarter, the market values of its holdings were 755 million yuan, 749 million yuan and 565 million yuan respectively.

In the same period, Feng Liu reduced his holdings of 1.5 million shares of Kangyuan Pharmaceutical, leaving 28 million shares; he withdrew from the top ten circulating shareholders of Eurasia Group, Jingfeng Pharmaceutical and Yaben Chemical. In addition, Feng Liu’s stocks include Guangri Shares, Lingrui Pharmaceuticals, Ma Yinglong, Weixing Shares and Qizheng Tibetan Medicine.

Deng Xiaofeng’s operations were more cautious in the second quarter. The three products he managed appeared among the top ten tradable shareholders of 7 listed companies. Xiaofeng No. 2 Letter Fund and Ruijin No. 43 Gaoyi Xiaofeng Investment Trust newly increased their holdings of Hisun Pharmaceutical, holding a total of 17.859 million shares; Xiaofeng No. 1 Ruiyuan Fund and other three products increased their holdings of Guangwei Composite Materials by a total of 4.8 million shares to 21.485 million shares. At the same time, Deng Xiaofeng significantly reduced his holdings in Central Holdings and Ping An Bank, slightly reduced his holdings in Hongfa Holdings and Foster, and continued to hold Chengde Lulu.

Shuiquan and Qianhe Newly Entered Three Stocks

Wang Yawei continues to reduce his holdings in Sanju Environmental Protection

The selected phase 1 products of Zhao Jun, the head of Danshuiquan Investment, appear among the top ten tradable shareholders of three stocks: 3.6245 million shares of Livzon Group, 1.206 million shares of Puyang Huicheng, and 8.9298 million shares of Venus. In the past two years, Danshuiquan has actively deployed emerging growth and cyclical growth stocks, especially favoring stocks with outstanding fundamentals in investment factors, corporate governance, industry chain verification, etc. that exceed expected growth.

Neusoft Group also received additional positions from Danshui Quan in the second quarter. Danshui Quan Selection Phase 1 already held 12.49 million shares, and Danshui Quan of Investment Elite bought another 10.5079 million shares. The two funds held a total of 23 million shares.

USI Electronics was reduced by Zhao Jun to about 1.54 million shares, and the shareholding ratio dropped to 0.25% after the reduction. In addition, Danshuiquan withdrew from the top ten shareholders of Tasly and Biotech in the second quarter, and its positions in six stocks including China Wuyi, Crystal Optoelectronics, Goertek, Chihong Zinc and Germanium, Menglily, and Shengyi Technology remained unchanged.

Wang Yawei’s Qianhe Capital also bought three new stocks in the second quarter: Ligong Optics, Jiangsu Thorpe, and Phoenix Optics, holding 295,000 shares, 2 million shares, and 1.3825 million shares respectively. Wang Yawei continued to reduce his holdings of 5.4 million shares of Sanju Environmental Protection in the second quarter. This is also the third consecutive quarter in which Qianhe Capital has reduced its holdings in Sanju Environmental Protection since the fourth quarter of 2018. Sanju Environmental Protection's performance has been sluggish since last year and has fallen 30% this year.

Jinglin increases his position in Dahua shares

Chengquan favors "pork stocks"

Jinglin Asset's operations are more cautious and only appear among the top ten circulating shareholders of three listed companies. Jinglin Global Fund increased its holdings of 6.8148 million Dahua shares to 26.7196 million shares; Xingxiang Enterprising Jinglin No. 1 reduced its holdings of 966,600 Fuanna shares to 7.9 million shares; Shengda Biotech was significantly reduced by Jinglin Jingqi.

Chengquan Capital actively adjusted positions in the second quarter and favored "pork stocks". It purchased 12.1783 million shares of Jin Xinnong and became its fourth largest shareholder; it continued to increase its holdings of 2 million shares of Tang Renshen, bringing its shareholding ratio to 3.74%. At the same time, Tianwei Video was significantly reduced by Chengquan Capital, and Chengquan Huiyong reduced its position in Phase 8 by 15 million shares to 2.7762 million shares. Position adjustment records show that Tianwei Video is a new stock entered by Chengquan Capital in the first quarter. The four funds hold a total of 22.53 million shares, and currently only Chengquan Huiyong Phase 8 remains among the top ten shareholders. As a local stock in Shenzhen, Tianwei Video rose 15.69% last week due to positive stimulation.

Among the companies that have disclosed their semi-annual reports, Chongyang Investment is only one of the top ten circulating shareholders of Xinhecheng and Shanghai Jahwa, and its shareholdings remain unchanged: it holds 42.87 million shares of Shanghai Jahwa and 38.5797 million shares of Xinhecheng.

Both funds under Heju Investment are among the top ten shareholders of Dow Technology and Petrochemical Machinery. For Dow Technology, there was an increase and a decrease. "Heju Platform Securities Investment Fund" reduced its holdings by about 1 million shares, and "Ruiyuan Hejuzhaoxiang" added 3.2277 million shares; for petrochemical machinery, it increased its overall holdings, with one holding more than 300,000 shares and the other adding 2.273 million shares.

Mingda Asset showed an overall increase in holdings, increasing its holdings of Dongguan Sunshine 4.791 million shares to 84.971 million shares, and increasing its holdings of Yinzhijie 3.4372 million shares to 21.406 million shares. At the same time, Mingda Asset has withdrawn from the list of the top ten tradable shareholders of Guangyuyuan.

China Europe Ruibo, headed by Wu Weizhi, reduced its holdings of 53,500 Proya shares to 849,000 shares; minority investment led by Zhou Liang continued to hold 1.9344 million shares of Qianyida.