"You must stay away from people who pay lip service to value investing, especially those surnamed Zhang."
On June 28, Chalk CEO Zhang Xiaolong suddenly "fired" at Asia's top private equity founders.
Zhang Xiaolong posted in the circle of friends: "I suddenly remembered that a few years ago, the so-called value investment boss told me that he invested in education to do public welfare, and there is no need to withdraw. I believed it at the time, this big guy was brainless on the first day of lifting the ban, and everyone thought that something big was wrong with us. ”
Zhang Xiaolong also accompanied the book "Value," which read: "Written by Zhang Lei."
It is understood that Zhang Lei, the author of this "Value", is the founder, chairman and CEO of Hillhouse Capital Group.
In 2005, he founded Hillhouse Capital with $30 million from the Yale Investment Fund Office. Companies invested by Hillhouse include Yili, Antu Biotechnology, Sungrow, Enjie, Aier Ophthalmology, Gree Electric Appliances, Yonghui Supermarket, CATL, iQiyi, BeiGene, Alibaba, Pinduoduo, Good Future and so on.
Zhang Lei currently manages assets of more than 500 billion yuan, and is known as "China Buffett", "investment godfather" and "PE brother".
"I want to be a super-long-term partner in a business, that's my belief. Hillhouse's mission is to discover the companies with the most long-term competitive advantages and use the longest line of money to help enterprises achieve long-term value. Zhang Lei said.
Why did Chalk CEO Zhang Xiaolong point the finger at Zhang Lei this time?
It turned out that since June, the 180-day lock-up period for the listing of Chalk Technology expired, and 65% of the shares of Chalk Technology, a total of 1.343 billion shares, were lifted. According to the prospectus, Hillhouse holds a 6.02% stake in Chalk.
From June 6 to 23, in less than a month, the chalk stock price fell from HK$11.78 to HK$2.96, a drop of 73%.
Zhang Xiaolong was naturally dissatisfied with Hillhouse, who took the lead in shorting.
However, less than a day, Zhang Xiaolong posted another circle of friends: "My friend told me that Boss Zhang didn't sell much, just 10 or 20 million shares, and I blamed him wrong." Investors buying and selling are normal, they are all their own power, there is no opinion, and complaining about other people's buying and selling is their own incompetence. ”
It is worth mentioning that after Chalk CEO Zhang Xiaolong shouted, Chalk's stock price immediately rose, and on June 29, Chalk's intraday stock price rose to HK$4.39, the largest increase of 27.99%.
As of the close on June 30, Chalk rose 13.23% to close at HK$4.45 per share, with a total market value of HK$10.03 billion.
Author | Zhang Xiaolei