"Top Stream" has a big move again! Zhang Kun reduced his stake in Yanghe, and Xie Zhiyu and Fu Youxing reduced their holdings in Shuanghui Development

Dot blue letter attention, do not get lost~

The third quarterly report disclosed that it had entered a peak period, and the positions of star fund managers and private equity tycoons were gradually becoming clear.

Looking back at the market in the third quarter, factors such as the epidemic, floods, and limited production and power restrictions have affected market sentiment, the theme of carbon neutrality has continued to rise, and the overall performance of new energy and cyclical stocks has been strong; while the consumption data has continued to be weak, and the consumer sector has continued to oscillate in the third quarter, and the performance is relatively sluggish.

In this context, some fund managers and private equity tycoons are quite confident in the direction of their positions, and in the process of shock correction, they increase their positions against the trend; but some fund managers and private equity tycoons have made obvious position adjustments, and their position ideas are changing.

For example, the "goddess of medicine" Gülen in the third quarter of a number of pharmaceutical leading stocks against the trend of the increase, optimistic about the performance of cyclical stocks in the private equity tycoon Deng Xiaofeng continued to increase the previously bought Zijin Mining in the third quarter, China Aluminum disclosed data on the evening of the 26th showed that Deng Xiaofeng bought 108 million shares of China Aluminum.

At the same time, some fund managers have made significant adjustments to their positions, and Zhang Kun has significantly increased his holdings in bank stocks in the third quarter, while reducing some liquor stocks and pharmaceutical stocks. Xie Zhiyu reduced his holdings in some consumer stocks in the third quarter, while adding chemical and electronics-related stocks.

Zhang Kun reduced his holdings in Baijiu Medicine

Yanghe shares disclosed the third quarter report on the evening of October 26, the company's third quarter revenue of 6.399 billion yuan, an increase of 16.66% year-on-year; net profit of 1.551 billion yuan, down 13.10% year-on-year. In the first three quarters, the company achieved revenue of 21.942 billion yuan, an increase of 16.01% year-on-year; net profit of 7.213 billion yuan, an increase of 0.37% year-on-year.

From the perspective of liquor companies that have disclosed three quarterly reports at present, high-end liquor has generally shown a stable growth trend, while the performance of sub-high-end liquor is more elastic, and the net profit of the liquor industry in the first three quarters increased by 211.92% year-on-year, and the performance of liquor also doubled.

Founder Securities Research Report believes that at present, the liquor industry is not entering the "late stage of growth", but is facing structural shifting, from high-end first-line growth to sub-high-end expansion of elastic growth transformation.

Cinda Securities said that the performance of liquor companies in the third quarter shows that the liquor industry is maintaining good development and the industry is booming. The head of high-end liquor companies, such as Maotai, Wuliangye, Luzhou Laojiao, inventory is at a low level, and the construction of benign channels has also maintained the stability of the price plate, which is conducive to long-term sustained performance growth. Sub-high-end liquor companies are fully enjoying the expansion of the price band brought about by the sauce and wine fever, and expanding liquor companies with national logic, such as Fenjiu, Shede, Drunkard Liquor, and Shuijingfang, continue to lead.

It is worth mentioning that Zhang Kun, who is famous for his liquor investment, managed by E Fangda Blue Chip Selection, chose to reduce his holdings in the third quarter after buying Yanghe shares in a large way in the second quarter, with a total reduction of 2.1135 million shares.

In the third quarter, the fund increased its holdings in Yanghe shares by 24.6906 million shares, and the number of shares held increased to 67.0401 million shares, ranking the third largest circulating shareholder of Yanghe shares. In addition, the fund also increased its holdings in Guizhou Moutai and Jinhui Wine, with an increase of 2.6768 million shares and 6.8593 million shares, respectively.

In fact, Zhang Kun also reduced his holdings of "Tooth Mao" Tongce Medical And "Eye Mao" Aier Ophthalmology.

On October 14, Tongce Medical released its third quarter performance announcement, with single-quarter revenue of 819 million yuan, an increase of 12.44% year-on-year, and net profit of 270 million yuan, an increase of 5.88% year-on-year, lower than market expectations. Tongce Medical was previously one of Zhang Kun's heavy stocks. However, the third quarterly report shows that the E Fangda small and medium-cap fund managed by Zhang Kun withdrew from the list of the top ten circulating shareholders.

Aier Ophthalmology released three quarterly reports yesterday evening showed that Zhang Kun's management of E Fangda Blue Chip Select Mix withdrew from the top ten shareholders, and held 35.0079 million shares of Aier Ophthalmology at the end of the second quarter, which was the ninth largest circulating shareholder.

At the same time, Hikvision and Ping An Bank were greatly increased by Zhang Kun, of which Ping An Bank was managed by Zhang Kun in the third quarter of the E Fangda Blue Chip Select Hybrid increased its holdings by 108 million shares, and the number of shares held at the end of the period increased to 200 million shares. Zhang Kun managed E Fangda Premium Select Hybrid also bought 63 million shares of Ping An Bank in the third quarter, becoming the seventh largest circulating shareholder of Ping An Bank.

Hikvision was managed by Zhang Kun in the third quarter of E Fangda Blue Chip Select Hybrid increased its holdings by 33.9998 million shares, and the number of shares held at the end of the period increased to 124 million shares, ranking the seventh largest circulating shareholder.

Xie Zhiyu and Fu Youxing withdrew from the top ten shareholders of Shuanghui Development

On the evening of October 26, Shuanghui Development disclosed the results of the third quarter, the company achieved operating income of 16.116 billion yuan in the third quarter, down 16.84% year-on-year; net profit of 916 million yuan, down 51.73% year-on-year; the first three quarters of the total operating income of 51.044 billion yuan, down 8.46% year-on-year; net profit of 3.453 billion yuan, down 30.08% year-on-year.

For the reasons for the decline in performance, Shuanghui Development said that since 2021, with the continuous and rapid decline in pig prices and meat prices, it is conducive to the decline in the company's meat products industry costs and the increase in the scale of fresh frozen products business, but domestic frozen products and imported frozen goods have suffered losses from sales with the rapid decline in pig prices and meat prices, and at the same time, the company has made an impairment provision for inventory commodities at the end of the period in accordance with accounting standards, resulting in a year-on-year decline in the company's net profit attributable to shareholders of listed companies in January-September and the third quarter of 2021.

It is worth mentioning that in the case of continuous decline in stock prices and poor performance, a number of star fund managers withdrew from the list of the top ten shareholders of Shuanghui Development in the third quarter.

At the end of the second quarter, Xingquan Herun Hybrid and Xingquan Heyi Hybrid, managed by Xie Zhiyu, disappeared from the list of top ten shareholders, and at the end of the second quarter, Xingquan Herun Hybrid held 16.5899 million shares of Shuanghui Development, and Xingquan Heyi Hybrid held 23.4417 million shares. The housewarming with Xie Zhiyu also withdrew from the list of the top ten shareholders of Shuanghui Development, and the Xingquan business model managed by the second-level housewarming management preferably held 13.5859 million shares of Shuanghui Development.

In addition, GF Fund Manager Fu Youxing also disappeared from the list of the top ten stock connects of Shuanghui Development, and at the end of the second quarter, GF Steady Growth managed by Fu Youxing held 18.8 million shares of Shuanghui Development.

Judging from the financial reports that have been disclosed so far, Xie Zhiyu's signs of rebalancing in the third quarter are more obvious, reducing his holdings in some consumer stocks, and also increasing his holdings in some chemical and electronics-related stocks.

According to Wind statistics, during the third quarter, Xie Zhiyu managed Xingquan Herun Hybrid increased its holdings in the two chemical stocks of Wanhua Chemical and Shanghai Jahwa, which it had previously held, with an increase of 4.3859 million shares and 3.7845 million shares, respectively, and at the same time reduced its holdings of 4.074 million shares of Puluo Pharmaceutical, and became the top ten shareholders of Lianchuang Electronics, Magmite, Liangpin Shop and other companies, and the positions of Zhongying Electronics and Meihua Bio were not moved.

The Xingquan Heyi Mix managed by Xie Zhiyu has also made great adjustments to its positions, increasing its holdings in Wanhua Chemical and Shanghai Jahwa, and reducing its holdings in Puluo Pharmaceutical in a large way, and holding a position in Meihua Biology.

Deng Xiaofeng continued to increase his position in cyclical stocks, and newly bought 108 million shares of China Aluminum

Deng Xiaofeng, chief investment officer of Gaoyi Asset Management, also made a significant adjustment to his position in the third quarter of this year, adding military stocks such as Guangwei Composites and Aerospace Electrical Appliances, and also adjusted the position of upstream resource stocks.

Deng Xiaofeng reduced some of the upstream resource stocks, and his products completely withdrew from the top ten circulating shareholders of Western Mining and Tin Shares, while in terms of "heart water stocks" Zijin Mining's positions, Deng Xiaofeng continued to increase his holdings in a large way.

According to the data of the third quarter report disclosed by China Aluminum on October 26, Gao Yi Xiaofeng Hongyuan Trust managed by Deng Xiaofeng has newly become the company's seventh largest circulating shareholder, holding 108 million shares at the end of the third quarter, with a market value of 838 million yuan.

In terms of the layout of military industrial units, Deng Xiaofeng also actively laid out. Gao Yi Xiaofeng Hongyuan Trust and Gao Yi Xiaofeng No. 2 Letter Fund held a total of 10.9252 million shares of Guangwei Composite, with a market value of 716 million yuan at the end of the period. The main business of Guangwei Composite is the research and development and production of high-performance carbon fiber and composite materials, and the products have a wide range of application prospects in the fields of national defense, military and civilian.

Deng Xiaofeng also newly entered aerospace electrical appliances, and the foreign trade trust - Gao Yi Xiaofeng Hongyuan Trust held 2.5771 million shares, with a market value of 159 million yuan at the end of the period.

In addition, Deng Xiaofeng also entered the "coupon Mao" Oriental Wealth, the third quarterly report shows that the foreign trade trust - Gao Yi Xiaofeng Hongyuan collective fund trust plan holds 49.0185 million shares, the end of the period of holding market value of 1.685 billion yuan, ranking the ninth largest circulating shareholder.