What private equity veteran Lin Yuan bought recently

Silver Persimmon Finance

2024-04-30 10:37Posted on the official account of Zhejiang Silver Persimmon Finance

What private equity veteran Lin Yuan bought recently

As the disclosure of the first quarterly report of the listed company is coming to an end, the latest position of Lin Yuan, a private equity "veteran" who has not appeared for a long time, has surfaced. According to the data of the private placement network, as of the end of March 2024, Lin Yuan's income in the past ten years has reached 679.65%, and the annualized income in the past ten years has reached 22.8%, ranking first among the "Double Ten" private equity fund managers.

Lin Yuan is a well-known private equity person, once known as the "folk stock god", after experiencing the ups and downs of the stock market, Lin Yuan has maintained a low profile in recent years, but has never left the private equity circle. At present, Lin Yuan is the chairman of the board of directors of the 10 billion private equity Lin Yuan Investment.

On April 25, Huaci Co., Ltd. (001216. SZ) disclosed its first quarter report for 2024, and Linyuan Investment appeared in the list of the top ten shareholders of outstanding shares. According to the data, Lin Yuan Investment held a total of 320,200 shares, becoming the fourth largest shareholder of the company, according to the stock price of 15.24 yuan per share at the end of the first quarter of the year, the market value of Lin Yuan Investment was 4.8798 million yuan.

According to public information, Huaci Co., Ltd. is a company engaged in the design, research and development, production and sales of ceramic products. In the first quarter of 2024, the company achieved operating income of 280 million yuan, a year-on-year increase of 7.95%, a net profit attributable to the parent company of 45.667 million yuan, a year-on-year increase of 10.24%, and a net profit attributable to the parent company of 38.1856 million yuan, a year-on-year increase of 44.43%. In the first quarter, the share price of Huaci rose by 16.78%.

In addition, according to the detailed combing of the 2023 convertible bond annual report data by the private placement network, Linyuan Investment's products also appear in the list of the top ten holders of 7 convertible bonds, including Guanghui convertible bonds, Huati convertible bonds, vertical and horizontal convertible bonds, Bollywood convertible bonds, Xianglu convertible bonds, Dibei convertible bonds, Zhengyu convertible bonds, etc. From the perspective of industry distribution, these convertible bonds cover many fields such as automobiles, motors, communications, and medical devices.

For example, as early as the end of the second quarter of 2021, Lin Yuan Investment became the top 10 holders of Bollywood convertible bonds and Guanghui convertible bonds.

Lin Yuan pursues "long-term value investment", usually selects low-valuation, high-growth growth leading enterprises, buys dips, portfolio investment, and holds for a long time. He has said that he will give top priority to investing in companies that can make money, and will pay special attention to the company's profit growth ability and debt situation. In recent years, Lin Yuan has mentioned the most about pharmaceutical investment related to aging, including hypertension, diabetes, and heart disease.

This is also reflected in the investment context of Lin Yuan.

Bollywood convertible bonds correspond to the underlying stock Paulaite (300246. SZ), the main business is medical devices, including monitor equipment, electrocardiogram machines, pulse oximeters, central monitoring systems, wearable medical products, hemodialysis equipment, etc., which is in line with the logic of Lin Yuan's long-term optimism about the pharmaceutical industry.

Lin Yuan believes that medical care is essentially a consumer product that can be consumed repeatedly, especially chronic disease drugs that need to be taken for life. By the same token, the logic of the medical device industry is more like "consumer durables".

In terms of investment preferences, Lin Yuan has a soft spot for the field of traditional Chinese medicine, and his earlier investments were all around traditional Chinese medicine. For example, Pien Tze Huang (600436. SH), Tong Ren Tang (600085. SH), Darentang (600329. SH), Dong'e Ejiao (000423. SZ), China Resources Sanjiu (000999. SZ), KPC (600422. SH), Jiangzhong Pharmaceutical Co., Ltd. (600750. SH), Yiling Pharmaceutical (002603. SZ), Guangyuyuan (600771. SH) and other well-known traditional Chinese medicine enterprises are the most widely disseminated forest garden investment list in the industry.

As of April 26, 11 new shares were successfully allocated, with a total amount of 25.7138 million yuan. Among them, 10 stocks have risen on the first day of listing, and 6 have even doubled.

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