China Fund News Taylor
Good weekend, everyone, briefly watch some news.
New energy 100 billion leader, big bearish
The new energy sector has come to bear news again, Trina Solar, which has a market value of hundreds of billions of yuan, announced that Xingyin Capital and Xingjing Investment intend to reduce their holdings of no more than 5.65% of the company's shares.
Xingyin Capital, a shareholder of the company, and its concerted actor Xingjing Investment hold a total of 11.157% of the company's shares, and due to its own development and capital needs, Xingyin Capital intends to reduce its holdings of shares with a total of no more than 5.23% of the company's total share capital, that is, 114 million shares; Xingjing Investment intends to reduce its holdings of shares with a total of no more than 0.42% of Trina Solar's total share capital, that is, 9.2113 million shares.
You know, at present, Trina Solar's stock price has retreated by 45% from the high, and the major shareholders will also reduce their holdings of 5.65% of the company's shares, according to the current market value, there is 5.8 billion! After falling so much and reducing holdings so sharply, it should have a certain emotional impact on the new energy sector.
According to public information, Trina Solar's main business includes three major sectors: photovoltaic products, photovoltaic systems and smart energy. The company's main products are photovoltaic modules, system products, photovoltaic power plants, intelligent micro-grids and multi-energy systems.
On May 24, Li Zhenguo, founder and president of LONGi Green Energy, said in an interview with the media that a global consensus on carbon neutrality has been formed, and the energy transition has become a sure thing to happen, and from the ultimate form, the market size of the photovoltaic industry will be very large. However, phased overcapacity can occur at any time. He predicted that just like the reshuffle of the photovoltaic industry in 2012-2014, more than half of the companies will be eliminated in the next two or three years.
U.S. stocks rose across the board
Tonight, U.S. stocks rose sharply again.
The latest data showed that inflation in the United States rose more than expected. The Fed's preferred inflation measure, the core PCE price index, rose 0.4% month-on-month and 4.7% year-on-year in April, which undoubtedly added uncertainty about whether the Fed will raise interest rates at its June meeting.
Following the data, markets raised bets on the Fed's June rate hike. According to CME Group, the chance of a 25 percentage point rate hike jumps to 56%, and the probability of a rate hike by July rises to 75%. A week ago, the odds of a rate hike in June were just 17%.
Still, U.S. investors were not impressed by the bearish data, and U.S. stocks continued to rise as they were more concerned about debt, and House Speaker Kevin McCarthy said a deal had not yet been reached. However, sources told some media that the White House and McCarthy are close to reaching an agreement that will raise the US debt ceiling for two years.
In addition, Pinduoduo rose by nearly 20%, and before you knew it, the market value was almost twice that of JD.com...
Pinduoduo's soaring rise was due to the explosive financial report, and its revenue in the first quarter was 37.64 billion yuan, a year-on-year increase of 58.2%, far exceeding market expectations of 32.3 billion yuan; Operating profit was 6.929 billion yuan, a year-on-year increase of 222%; Net profit attributable to ordinary shareholders was RMB8.101 billion, a year-on-year increase of 212%; Non-GAAP net income attributable to common shareholders was RMB10,126 million, an increase of 141% year-on-year.
The skyrocketing rise of Pinduoduo has also driven a group of Chinese concept stocks to rise together.