Chapter 576 [Technology companies should not pay dividends]
This incident triggered a lot of speculation in the capital market, and no senior executives from the eight listed companies came out to speak out. This operation of Tiansheng Capital also baffled many people.
Because the prospects of those eight listed companies are pretty good, their fundamentals and performance are all rising steadily. The smallest one has a market value of 6 billion, and the largest one has a market value of 23 billion. They are high-quality growth stocks recognized by the capital market.
Public opinion quickly fermented, and gradually everyone analyzed it, and finally everyone felt that something must have exploded.
This also makes holders of the technology sector, especially those of the chip semiconductor sector, worry about the market opening after the holiday. If eight semiconductor-related listed companies explode, it will definitely be enough for the chip semiconductor sector to open after the holiday.
It's time to drink a pot.
Yesterday, this sector rose sharply, and this is why such bad negative news came out.
…
At about 15:00 pm on Saturday the next day, Lu Ming saw that public opinion was getting more and more skewed, so he posted a dynamic message on his personal social media:
[There are no big problems in these eight companies. The reason why Tiansheng left the market is that they paid too many dividends, especially in two years. The excessive dividends and the excessive salaries of executives are the fundamental reasons for the withdrawal of Tiansheng Capital. There is no such thing as
Other secrets.]
[What is the current public opinion environment in the entire domestic capital market? They all say that listed companies should pay more dividends, the more the better, there is no cap. I am not opposed to corporate dividends, and sharing residual value with the market is of course a good thing.
】
[But what I am opposed to is dividends from technology companies, especially dividends from growing high-tech companies. In fact, high-tech companies should not pay dividends. As soon as some high-tech companies in the United States say dividends, the capital there will not invest in you. This
The same goes for Tiansheng Capital. We don’t invest in technology companies that pay dividends.】
[Your technology company pays dividends all the time because you don’t want to grow and develop, you no longer have the ambition to make progress, and you even think it’s over. Then you don’t deserve to enjoy the super high price-to-earnings ratio.]
[I give your company such a high P/E ratio, which can easily be dozens of times, hundreds of times or even two or three hundred times. I am not asking you to pay dividends. With such a high P/E ratio, you have to divide the money you have earned by just a few cents. No.
If you have ideals, have no ambitions, and don’t want to become stronger and bigger, then why should I invest in you instead of depositing money in a bank or lending money? Want your dividends? What stocks want is room for imagination, and you don’t even have to think about it.】
[The domestic stock market advocates dividends for listed companies every day. For high-tech companies, what does dividends actually mean? Just let all listed companies like you, who originally have greater room for development, stay on their backs and stop developing and growing. Dayang
Isn’t the lesson taught to us by that beautiful country on the other side vivid enough? Not profound enough?]
…
Lu Mingfa's latest news was soon quoted and reported by various self-media, including some financial media, once again triggering new heated discussions in the market.
The outside world was very surprised that Lu Ming dared to speak out against the beautiful country, but it was not surprising after the surprise. Tiansheng Capital is still blocked and sanctioned by the beautiful country. Everyone on earth knows that the beautiful country is not happy with Lu Ming. It is not a matter of a day or two.
What really surprised the outside world was that Lu Mingfa's dynamic content further elaborated on the reasons for divestment. The announcement disclosed by Tiansheng Capital was much more straightforward and less formulaic.
Many stock investors were in trouble, especially those holding stocks of the eight listed companies. They found that it was not appropriate to scold Lu Ming at this time. Now they understand that the reason for Tiansheng's withdrawal of capital is a bit like hating iron for not being able to make steel.
If you have a price-to-earnings ratio of hundreds of times, but you don’t invest the profits you earn in research and development, and you don’t make yourself stronger and bigger, but you can’t wait to share them, then how can the company develop and grow?
There was no structure, no ideals, and no desire to break through, so Tiansheng Capital withdrew, especially at this juncture when the technology war with the United States and the United States was fierce. Lu Ming's altitude was obviously above the atmosphere. It seemed inappropriate to scold him, and
If you curse, you will definitely be ridiculed by others.
But don't scold me. Your stock account will be damaged and you will have to lose money. Who can you ask to explain this?
Then we can only scold the senior management of these companies.
Especially the update of Lu Ming's dynamic content is equivalent to killing the future expectations of those eight listed companies. If you keep paying dividends, it is unsatisfactory and has no pattern. If these are gone, you still have a basket of prospects.
, it is expected that there is also a hammer, and there is still room for imagination of der?
There is no doubt that the value of your company will have to be re-priced and re-evaluated by the capital market. Your current price-to-earnings ratio of hundreds of times is unreasonable, and it must be valued based on the price-to-earnings ratio of about 20 times that of traditional companies.
Good guys, the market value of these companies will have to shrink by at least 80%, especially the company with the largest market value. The current stock price is 195 times the price-earnings ratio. If it is revalued at 20 times the price-earnings ratio, it means that its stock price will have to be reduced by more than 80%.
Shrunk by nearly 90%.
I am afraid that no retail investor who holds the company will not panic, especially those with heavy positions. This year will definitely be difficult.
In fact, the institutions that currently hold these listed companies have now adopted a new strategy, clearing out positions and leaving no matter what. With the pricing power of Tiansheng Capital, not many institutions are willing to do so.
Try your own way to get the upper hand. If you want to get the upper hand, you have to spend real money.
There is no room for imagination in stocks, so why not just play ball?
…
This matter is not a big deal for Lu Ming. The funds invested by Tiansheng Capital in those eight listed companies, not to mention the discount and the premium of 30%, add up to only 650 million yuan.
In terms of numbers alone, this is of course a huge amount, but less than 700 million is even a fraction of the size of Tiansheng Capital, a behemoth.
Lu Ming specially posted a dynamic content for this matter that seemed not worth mentioning to him. The purpose was to send a signal to other high-tech companies:
If you really have a dream, you really want to become stronger and bigger, and you are working hard to continue to develop, then I, Tiansheng Capital, can give your company a price-to-earnings ratio of hundreds of times or even higher. On the contrary, I
I won’t invest a dime in you.
Tiansheng Capital’s current influence in the capital market is huge, especially for technology companies. If they want to obtain financing from the capital market, they will basically have no worries about money if Tiansheng Capital can help them.
Tiansheng Capital not only speculates in stocks in the secondary market, but also provides powerful financing functions to enterprises, including the primary and secondary markets.
In the primary market, direct financing is provided by the VC venture capital center headed by Ge Feng. If a listed company wants to refinance, it needs to issue new shares through private placement.
Many CEOs of listed companies who want to raise capital want to invest in Tiansheng Capital because there are many benefits.
First of all, Tiansheng Capital is super rich. This is a basic factor. It is impossible to have no money. Secondly, after Tiansheng Capital invests money, it really does not dictate the company's operations and does not seek control. This is a real financial investment and a super
An ideal angel investor; finally, it has strong endorsement capabilities. Most of the companies invested by Tiansheng Capital are now sought after by the capital market, which means that they have gained higher premiums and bargaining power.
The companies that Brother 1 has seen are almost the same as the companies that Brother 1 is optimistic about. It is equivalent to the meaning of "gold plating" and has such a flavor.
