The net profit of Jinjing Technology in the first three quarters increased by nearly 6 times, and the new normal of China Europe Mingrui managed by Zhou Yingbo entered the big way

Reporter Du Meng

On the evening of the 11th, the photovoltaic company Jinjing Technology (600586. SH) handed over the first three quarterly reports of the Shanghai market.

In the first three quarters, the company achieved a total operating income of 5.091 billion yuan, an increase of 48.82% year-on-year; achieved a net profit attributable to the mother of 1.248 billion yuan, an increase of 581.11% year-on-year. Among them, in the third quarter, the company achieved operating income of 1.746 billion yuan, an increase of 40.55% year-on-year; achieved a net profit attributable to the mother of 465 million yuan, an increase of 333.51% year-on-year.

For the main reasons for the change in performance, Jinjing Technology said that it was mainly due to the increase in the price of the company's products in the current period, the impact of the company's sales structure adjustment and the expansion of the company's scale.

At the same time, the price of the stock experienced a roller coaster, rising from 8 yuan at the end of June to 13.05 yuan in early September, and then fell successively, and as of October 11, the stock price closed at 10.31 yuan.

Among the top ten circulating shareholders with unlimited sale conditions, the China Europe Mingrui New Normal Hybrid Fund managed by Zhou Yingbo and Liu Weiwei held 18.6974 million shares, becoming the second largest new shareholder in the third quarter. According to the stock price of 10.31 yuan per share on October 11, the fair value is about 193 million yuan.

Founded on September 30, 2016, CEIBS New Normal Hybrid had a net asset size of RMB6.328 billion as of the end of the second quarter of this year. So far this year, the fund has yielded 40.38%, which is in the 37/1585 of similar funds. In the first and second quarters of this year, the fund received net subscriptions of 201 million and 569 million respectively.

As of the end of the second quarter, the fund held a total of 134 individual stocks in the portfolio, and Jinjing Technology was not in the holding range.

Why did it enter Jinjing Technology sharply in the third quarter? In the fund report, Zhou Yingbo said that the focus is on tapping the opportunities of growth sectors, especially focusing on high-end manufacturing. Specifically, new energy vehicles, semiconductors, Internet of Things chips, photovoltaics, etc. are all key industries.

In addition to the partial stock hybrid fund, Zhejiang Fengli Enhanced Bond, a partial debt hybrid fund, also ranks among the top ten shareholders, holding 8 million shares of Jinjing Technology, and the fund is managed by Zhou Jincheng, Jia Teng and Chen Yafang. Since the beginning of this year, the fund has yielded 33.39%, which has been described by investors as "the bond base has run out of the momentum of the mixed base".

However, it should be noted that as of the end of the second quarter, the size of the fund was 951 million yuan, the proportion of equity assets was 24.62%, and the proportion of bond assets was 66.82%. "Most of the Fund's earnings and net worth fluctuations are contributed by convertible bonds and equities, and the net value fluctuates greatly. Again, investors are deliberately reminded of the risks. "The fund is prompted in the report.

For the fund manager to buy photovoltaic stocks in a large way, Yang Delong, executive general manager of Qianhai Open Source Fund Management Co., Ltd., said that the fourth quarter is the traditional peak consumption season, and high-quality leading stocks represented by consumption and new energy are expected to become the main theme of market rise. At present, the A-share market is gradually switching styles, from small-cap stocks, theme stocks and cyclical stocks in the early stage to gradually switching to consumer stocks and high-performing leading stocks. Outperforming white horse stocks that outperform expectations can cross bulls and bears.