On October 11, the Financial Associated Press disclosed the third quarterly report, opening the curtain on the disclosure of the 2021 third quarterly report of A-share listed companies. In its latest disclosure of the list of top ten circulating shareholders, Golden Bull Fund Manager Zhou Yingbo's Ceio Mingrui New Normal ranked second, compared with the complete position disclosed in the fund report, 18.6974 million shares were added in the third quarter, and the market value of the position at the end of the period was 196.51 million yuan.
<h3>Source: Wind</h3>
As one of Zhou Yingbo's two main fund products, since its establishment in December 2016, CEIBS New Normal performance ranking ranks first among similar products.
From the latest data disclosed at the end of the second quarter, the management scale of the fund was 6.720 billion yuan (A/C shares total), and the "threshold" for the top ten heavy stocks at the end of the second quarter was 199 million yuan (LONGi shares).
On September 8, cerebellum New Normal relaxed the single-day subscription limit, from the original A/C share of 1000/10,000 yuan per day to a single-day upper limit of 100,000 yuan, if the scale of the product further increased in the third quarter, unless the fund manager's position structure was greatly adjusted, otherwise The position of Jinjing Technology may not enter the list of the top ten heavy stocks in the third quarter of the fund.
Combined with the performance of products in management this year, Zhou Yingbo, who likes to consider investment in the "long-term dimension", has built a large-scale position in Jinjing Technology, which is a leading enterprise in the glass industry that is stained with the concept of photovoltaics, and does not rule out that it may be a compromise to short-term performance.
<h3>Source: CEIBS New Normal 2021 Interim Report</h3>
From the perspective of plate trends, this year's photovoltaic concept stock market started in the middle of the second quarter. In the second quarterly report of the new normal released by Ceio Mingrui on July 21, there was no mention of photovoltaics; and in the fund report released on August 31, in the outlook for investment opportunities in the future market industry, photovoltaics were mentioned for the first time, and believed that the photovoltaic industry will "enter the boom recovery stage next year".
If according to the logic expressed in the semi-annual report, the position of Jinjing Technology is not based on the concept of "Tesla charging pile designated upstream original sheet supplier of glass", then the third quarter of this year will quickly open a position to at least the invisible heavy stocks, may enter the position of the top ten heavy stocks, the probability can only be due to the concept of "thin film solar photovoltaic modules".
On the other hand, in the five funds currently under zhou Yingbo's management, a total of 60.664 billion yuan (data at the end of the second quarter), the single-base scale of the new normal of Ceibus Mingrui is only more than that of CEIBS Vision in two years, which is the smallest of the three non-closed funds he is currently managing.
Judging from the earnings performance of the five products in the year ended October 10, Ceibale New Normal (Class A share) rode the dust with a performance of 41.54%, far better than other products.
In the list of the latest ten shareholders in the third quarter report of Jinjing Technology, there are no other larger products in the management of Zhou Yingbo, obviously, this position adjustment is not carried out synchronously for all products, at least not synchronously and equally proportioned.
As can be seen from the performance of past years, although the top ten heavy stocks disclosed at the end of the period may differ, the products under zhou Yingbo's management in the same time period and the same market environment usually do not have much difference in income performance, and this law seems to be broken this year - the new normal of Ceibus Mingrui is far ahead, while CEIBS Internet Pioneer and CEIBS Vision have set to open two partial stock hybrid funds of similar size in two years, and the return for the year of 2021 is still negative as of last Friday.
What's more, on September 7, CEIBS New Normal just revised the investment scope in the fund contract, adding a clause allowing investment in Hong Kong Stock Connect stocks, in line with the two negative return products within the year.
Previously, in addition to the two products that were established earlier in the new normal of CEIBS Mingrui and CEIBS Times Pioneer, the other three products that can buy Hong Kong stocks have appeared in the top ten heavy stocks in the past quarterly reports of Tencent Holdings, Meituan-W or Sunny Optical Technology, among which Sunny Optical Technology is the first heavy stock of CEIBS Internet Pioneer and CEIBS Innovation at the end of the second quarter in the future, which can be seen that Zhou Yingbo is not exclusive, and even quite active in the allocation of Hong Kong stock assets.
At this time, the new normal of Ceibal Mingrui is "single-handedly" buying Jinjing Technology, is it possible that it is forced by short-term performance pressure? Judging from the results, the new normal of Ceio Mingrui has indeed become the highlight of Zhou Yingbo's pipe products this year, and more information, perhaps we have to wait until the three quarterly reports are released after half a month, in order to make further judgments from the changes in the top ten heavy stocks.