The time has come to May 5, and the much-anticipated annual meeting of Tiansheng Capital will be held today.
The attention of the domestic and even the investment community is focused on the Tiansheng Capital headquarters in Ningzhou City today, and a large number of overseas investors also stay up late to pay attention.
The influence of Tiansheng Capital’s annual shareholders’ meeting is getting better and better every year, and its impact on capital markets around the world is increasing day by day. Investors, especially large institutional investors, have to pay attention, otherwise what will happen latest
The news and reaction were delayed by half a beat.
However, this shareholders' meeting is different from the past. Due to the impact of the epidemic, this year's shareholders' meeting was completely held online. Lu Ming and several other core executives attending the company faced tens of thousands of people in the multimedia hall.
Empty chair opens Q&A.
The conference has been set up and there are still a few minutes left until the entrance time.
At this moment, Lu Ming is paying attention to the latest trend of international oil prices. The price of WTI crude oil futures has experienced five consecutive positive days in the past five trading days. Today, it has reached an intraday high of $25.49/barrel, with a daily increase of over +25%.
The price of oil is -40.32 US dollars per barrel. In just 11 trading days, it has rebounded by +163%, reaching 1.6 times.
How are the talks between the upper management and the old Americans going? Lu Ming has not received the latest news, but through the sharp and rapid rebound in oil prices, the price of WTI crude oil futures has reached 25 US dollars, indicating that there should be some substantial differences between the two parties.
Progress has been made.
"Chairman, the time has come." At this moment, a staff member came to remind.
Lu Ming immediately put down the screen device in his hand and entered the venue together with Gao Hua and Xue Zhongming, several board members. Last year's shareholders' meeting was held in a venue with tens of thousands of people built in the square outside the Tiansheng Capital headquarters.
This time it was in the multimedia hall inside the company, but the area was also very large, enough to accommodate tens of thousands of people.
But now it seems quite deserted, with only some staff and media personnel, and there are even more cameras and lens equipment than there are people, whether it is Lu Ming or other staff on site.
The scene seemed deserted, but online it was extremely popular. Currently, Tiansheng Capital’s shareholder meeting is being flooded online. There are people who actually participated, and there are also many netizens who are chasing the excitement and joining in the fun.
The audience saw in the live broadcast that Lu Ming and others entered the venue wearing masks.
The meeting also progressed on time. After a simple opening remarks, Lu Ming continued: "This is the first time we have held a shareholders' meeting online. Last year, the venue was full. Gao Hua just came to tell me that no matter how many people were seated, the past venue
All seats are full. At this time last year, no one would have thought that such a crazy situation would happen this year. This is a very big impact and a very drastic change."
"First of all, let me introduce the five board members of our company. According to the usual procedures, I will first show you the company's first quarter earnings. The recent first quarter performance report has caused huge controversy in the outside world, but this
In fact, it’s not a bad thing. In fact, our first-quarter performance is not as bad as what the outside world said. We are satisfied with the first-quarter performance.”
As soon as these words came out, all the investors watching the live broadcast of the shareholders' meeting in front of the screen had several question marks on their foreheads.
What does this mean?
Regarding the issue of first-quarter performance, what Lu Ming had to do was to say it half-heartedly at today's shareholders' meeting. Because Tiansheng Holdings has been ST-listed, the daily increase and decrease has become ± from the previous ±10%.
5%, you can properly reveal some information.
After Tiansheng Holdings was classified as ST, it has restricted the entry of many institutional funds. In principle, many large public funds cannot buy ST shares, and private equity funds have also been restricted to a 5% position ratio.
This also effectively controls the influx of large amounts of OTC funds, but on the contrary, some institutional funds still have to go out.
At the beginning of the shareholders' meeting, Lu Ming gave everyone a surprise, but how credible was his words? Because he still did not answer the question directly, many people still had doubts.
At the same time, Lu Ming still spoke calmly and confidently at the shareholders' meeting.
“…The impact of the coronavirus on the entire macro-economy is currently of great concern to the capital market, but I believe it is not just driven by an event like the coronavirus, but that the entire operational path and logic behind it are closely related to the capital market.
related."
“In fact, in the capital market, to a certain extent, the medium, micro and macro factors are not particularly big. You are more interested in discovering excellent companies and excellent profit growth, which is what we traditionally call value investment.
"
"Of course, a small part of the value investment part is related to the big macro, such as industrial structure, industry life cycle, etc., so you will find some experienced investors in the market. In addition to studying a certain listed company,
In addition to the company itself, we will also conduct a thorough study of the entire life cycle of the industrial chain in which the listed company is located."
"In China, policy guidance and drive are actually crucial to the development of a certain industry or industry. Sometimes when our policy changes, it will also have a certain impact on the life cycle of certain industries.
, which in turn affects the estimate of its value.”
The most typical impact of Zhengce is on the education and training industry. Once Zhengce came out, the entire industry basically disappeared. Of course, Lu Ming did not say at the shareholders' meeting at this time that the education and training industry is still booming.
However, Tiansheng Capital has never entered this industry. In fact, this has always been something that the outside world does not understand.
For example, Zhonggong Education has continued to hit record highs. In just the past two years, it has increased more than 7 times. What surprised the outside world the most was that Tiansheng Capital’s past corporate analysis and research reports also stated that they were optimistic about Zhonggong.
Public education report, but I don’t own it.
Xinfang Dongfang is also continuing to hit record highs. The Y sentiment has not had much impact on the education and training industry. On the contrary, the Y sentiment has been strengthened, especially in the online education industry.
Tiansheng Capital has never been seen in education stocks, and not buying education stocks is already a major feature of Tiansheng Capital.
At the shareholders' meeting, Lu Ming continued to talk: "The other layer is the real macro impact and impact on the capital market. This is more derived from our liquidity, including what we are talking about.
A very subtle factor similar to market confidence, why are we talking about this? Because since this year, an important factor affecting the global capital market has emerged."
"In fact, all of our investors, whether they are professional institutional investors or ordinary retail individual investors, may need to pay close attention to this factor."
