Most investors do not understand the valuation logic of the capital market. Tianchi Technology here is valued at 37 billion yuan, but Pinduoduo next door can give a valuation of about 170 billion yuan.
It stands to reason that Tianchi Technology’s valuation is more than 170 billion.
As the discussion grew more and more people paid attention to it, there were more and more messages. One of the messages quickly spread in major discussion groups and forums.
"No wonder the market only gave Tianchi Technology a valuation of 37 billion, and Nima Company is responsible for the valuation."
"Is this news really false? Selling one Sunchi will result in a loss of the cost of each one? In other words, buying one will result in a net loss of 200,000? Wori!"
"If we really sell a million vehicles this year, wouldn't we lose more than 200 billion?"
"Hell, the debt scale is 467 billion, and the asset-liability ratio is as high as 279%. Is there any company in Big A with a higher debt ratio than this?"
"That means buying 1 million Tianchi shares and directly incurring a debt of 2.79 million?"
“Can this also be put on the market?”
"We can't understand, we don't know, we don't dare to ask, we can't buy it, and we don't dare to buy it."
"Anyway, even if it's a trap, it only traps the rich. The threshold for the Science and Technology Innovation Board is right there, haha!"
"What are you afraid of? If you win the lottery, you will definitely make money. Just do it. I don't believe it will break immediately if it goes public."
…
The market is constantly discussing Tianchi Technology. Obviously, the problems of Tianchi Technology have exceeded the awareness of most people. Now there are very few people who can understand and value the company as an Internet platform company.
Even there are not many institutional investors. Just look at the stock price of Tesla next door, which is still on the floor.
Most people still regard Tianchi Technology as a car company. Although it is also a car company, it is fundamentally different from traditional car manufacturers. Once new energy car companies are valued based on the logic of network platform companies, then the entire
The valuation system will be turned upside down.
As for the issuance with a market value of 37 billion, it is indeed a staggering amount of debt on the books. In the final analysis, Lu Ming is kind and clearly told the market the risks of Tianchi Technology, and it is very intuitively reflected on the balance sheet. Do you want to list it?
It's up to you to think about the car and then decide.
Whether the market capitalization of the issuance is high or low does not make much difference to Tiansheng Capital, because the company's value will eventually be determined, and the stock price will be realized sooner or later.
From an intuitive point of view, it seems that if the price is higher, the cost of funds raised will be lower, because less equity will be transferred when raising funds of the same scale. It seems that we are losing a lot now with such a low valuation.
But Tianchi Technology obviously cannot understand it this way. The funds for this offline subscription, that is, the major shareholder, are all related to Tiansheng Capital. Institutions such as Chaoyun and Wanxiang are all LP members of Tiansheng. As for Guo Jia
Not to mention the team organization.
Tianchi Technology has developed over the years, and Tiansheng Capital has continued to inject blood into it. Although the money is borrowed money, in addition to the parent company's own liquidity, the lender also includes funds in the name of its LP members.
They all took huge risks invisibly, and those institutions were not stupid. Lu Ming was indeed very down-to-earth and did not take advantage. After all, they were all people who supported him.
Another is that only in this way will they become the "main force" of the market, and then they will have enough enthusiasm to push Tianchi Technology's stock price and market value to cash in, which requires real money and hard work.
And retail investors have indeed benefited from this. This time, the 12.05% ratio for small and medium-sized retail investors has divided a part of the cake. Because the time cycle has lengthened, when the value of Tianchi Technology is gradually reflected and the stock price realizes the value, the current
The issue price is the floor price.
However, Lu Ming also knew that among the investors who won the lottery this time, it would be good if only 20% of the two hard-won chips were left for those who could really hold on to the two hard-won chips. The vast majority of the chips would eventually be laundered by big funds.
go out.
Just like the backdoor listing of Tiansheng Capital, how many retail investors are still in it now?
This time Tianchi Technology went public, the institutions participating in the placement were actually very concentrated. Two Guo Jia team institutions and five LP institutions were gone!
The five major LP institutions are Lu Ming’s core circle of friends.
But there are still a lot of votes for organizations that want to get on the bus. It’s not that Lu Ming’s core circle of friends can’t get a share of this pie, they can only participate in the 12.05% proportion of new releases, and this part is what they are eyeing.
Meat.
In other words, among the newly successful retail investors and the 3 million retail investors who meet the investment conditions of the Science and Technology Innovation Board who want to participate in investing in Tianchi Technology, they will have to compete with a group of institutions in the secondary market.
Retail investors who have the authority to buy stocks on the Science and Technology Innovation Board, even leeks, are experienced veterans. If Tianchi Technology is listed on the main board, retail investors will not be driven crazy by these big funds, let alone 20%.
, thank God if I can save one out of ten.
…
In the next few days, the market was hotly discussing news related to the Science and Technology Innovation Board, and the trend of Big A in the past two days has entered an adjustment stage.
Since the sharp rise on June 11, it has been adjusted for five consecutive trading days, and the trading volume has almost shrunk to land volume.
There are also some people who believe that there is insufficient impulse energy in the market and the immobility of OTC funds is largely due to the Science and Technology Innovation Board. This time, the total financing scale of the first batch of listed companies on the Science and Technology Innovation Board is expected to reach 60 billion, and there is no OTC capital.
Not to mention entering the market, funds on the market are also withdrawing, and funds will flow to the Science and Technology Innovation Board. Many people are preparing to raise funds to build a new Science and Technology Innovation Board.
When A-shares opened on June 19, the two cities jumped sharply and opened higher today, with the Shanghai stock index opening higher by +1.87%. This was stimulated by a major news, that is, the domestic and North American sides launched a bilateral peak yesterday.
level phone conversation.
Affected by this, the external market had already risen sharply last night, and the big A opened sharply higher today.
Chongqing stocks, technology stocks and chip stocks also generally rose today. At the same time, WTI crude oil rose by 4% during the day, and Brent crude oil rose by 2.7%. News of this level has a great impact on the capital market.
Especially short-term fluctuations.
However, after the two cities of Big A opened sharply higher today, they fluctuated and fell back at the opening, and the gains of the three major indexes gradually narrowed.
In the afternoon, the gains of the Shanghai and Shenzhen stock markets further narrowed. Hot topic sectors took turns to perform, but the sustainability was average. Although it stood firm at 2,900 points, this trend still made investors depressed, but it was also in line with the style of Big A.
In terms of industry sectors, intellectual property protection concept stocks led the gains in both cities today, with Zhongwen Online, Guangyi Technology, Zhonglu Technology, Yinthi Group, Zhangyue Technology and other stocks hitting their daily limit.
The concept of domestic chips performed strongly, and stocks such as Vail Holdings, Pengding Holdings, Jiejie Microelectronics, Hongxing Electronics, Bomin Electronics, and Dongjing Electronics all rose to the daily limit.
The environmental protection sector strengthened again today, with Shengyun Environmental Protection, Green Cesium Power, Huicheng Environmental Protection, Fulongma and other stocks reaching their daily limit.
As of the close, the Shanghai Stock Exchange Index closed at 2917.80 points, up 0.96%; the Shenzhen Component Index closed at 8925.73 points, up 1.38%; the GEM Index closed at 1469.99 points, up 0.98%.
It is worth mentioning that Fulong previously hit the daily limit on nine boards in a row, then fell sharply for two days, then hit the limit again. Today it entered the daily limit on the second board, and exited the eleventh board in thirteen days. The stock price also hit a record high of 32.82 yuan. It surrendered.
Since the daily limit, the stock price has reached a cumulative increase of +179%.
Obviously, Fulongma is now highly sought after by market funds. The first wave of seven consecutive boards hit the daily limit, and then it opened a trading board to top two boards. After two days of adjustment, it has now gone out of two consecutive boards and is about to take the second one.
It means wave, and it is a game involving a drum-passing flower relay race.
The popularity of this ticket has now been achieved, and the market capital has also recognized it. The story is also very beautiful and touching. The main players know how to play, and they do not eat alone. Everyone has fun together. As for who will take the last baton in the end, when the time comes
