Welcome to the wechat subscription number of “chuangshiji”: sinachungshiji
By Yuan Lin
Source: combustion Finance (ID: Chapter)
On the two day, the frozen capital was HK $356 billion 100 million, the subscription ratio exceeded 339.12. The Kwai Kong shares were hot before the new airport, and the old fellow iron industry ushered in the high light moment.
“Three accounts, 10 times leverage, subscribed 2000 shares.” Kwai Hai, a new investor in the fast track industry, said that “the first share of short video must be rushed.”
According to 21 financial circle reports, an Internet brokerage business director once said that Hong Kong stocks’ innovation essentially belongs to arbitrage investment. In order to go public smoothly, most companies listed in Hong Kong will give a certain amount of stock price discount to attract more investors to participate in the purchase. Therefore, investors can easily earn the first and second market spread income. Therefore, many internet securities companies are scrambling to introduce measures to attract retail investors to participate in Hong Kong stock market innovation. The main purpose is to achieve the largest range of customers with the help of arbitrage investment to make money.
Kwai Hai said that brokerages generally provide financing business, the highest leverage of 30 times, investors can choose according to their own risk tolerance, “this fast new fight, the amount of leverage is tight, basically are seconds, need to fight speed.”
Eager for a fight in Kwai Tung, the first time in the early 2021, the fast start technology became the industry’s milepost event, which is enough to make investors eager to win.
To meet the Kwai’s rising demand, all brokerages exhaust all the skills and funds to prepare sufficient funds for investors to provide sufficient food and grass. The number of dealers who have been publicly offered is over HK $350 billion.
In January 26th, the Kwai TSE announced the listing plan, code 1024, and 365 million shares sold globally, including 9 million 130 thousand and 500 shares in Hongkong and 356 million shares in the international offering, indicating the price range of HK $105-115 per share, HK $383.4-420 HK $9 million 130 thousand and 500, and the announcement of the offering in February 5th.
Subsequently, it has been through two days of hot subscription. According to tiger securities statistics, the online subscription was completed at 19 hours in January 27th, the total subscription rate of the Kwai sum was 339.12, and the freezing fund was HK $356 billion 100 million.
Source / screenshot of tiger securities
In fact, the first day of the stock market, Kwai Tat technology has been very popular. According to statistics of jelly Kwai Po exhibition, as of 18:30 p.m. on January 26th, the -W of fast hand was over 189 times the actual subscription, and the freezing capital was HK $199 billion 700 million.
It is reported that the international sale part of the same scene hot. In the stage of roadshow, institutional investors are enthusiastic, and some even use their private relationship to seek “predetermined share”. Due to the overheating of the purchase, the international subscription part of the Kwai Fu has been fully completed, ending at 5 p.m. on Wednesday, January 27th (Hongkong), 2 days ahead of schedule.
In Hongkong, the stock offering is generally sold in Hongkong (10% of the public offering) and 90% of the international placement, while the 2.5% of the Hongkong offering is only a little puzzled. But whether it is institutional investors or individual investors, Kwai Kwai’s initial enthusiasm for buying is not doubting.
In fact, before the Kwai Fu, the Internet giant had launched a new craze in the HKEx, and the ant group was once the “king of popularity” and “frozen king” in the Hongkong new stock market.
According to Market News quoted by Hong Kong Economic Daily, as of October 30, 2020, the IPO of ant group has been subscribed by 1.55 million people, which is equivalent to one out of every four Hong Kong people, freezing more than 1.3 trillion yuan, which is a record.
From the current subscription data, Kwai hit new but hot, but far from the order of the ant group. As for whether there will be “call back” in the follow-up international placement, how many lucky people will have the opportunity to play “the first share of short video”, which is worth looking forward to.
However, despite old fellow’s head broken and bleeding, whether the new railway is still holding or not, the loyalty of the “old iron” is obviously not so high. “When you get there, just stir it up and go.” Kwai Hai is domestic trouble and foreign invasion and pressure.
Retail chasing, byte group
The “short video first stock” aura is a new Kwai Rai Carnival at HKEx. According to media reports, the new Kwai is not less difficult than new ants.
“I’m afraid I won’t get it, so I set the alarm clock.” Jianghai, a new investor, has been playing the new experience of quick economic development. As a working class, Kwai Kong has taken part in the new Kwai Hai investment mode. It has signed the Jingdong and blue moon, winning the winning rate of about 80%.
Although the old driver, but because the rapid market preheating too hot, so Jianghai prepared ahead of time, tiger securities, Oriental Securities, Fu Road Securities three accounts Kwai Fu, respectively, plus 10 times leverage, “this is the most sufficient preparation for new preparation, hoping to win in the middle.”
Special purchases for the Spring Festival are the big Kwai Kee of Hong Kong stocks. Another quick hand to fight new investors told the Kwai Kwai finance that Hong Kong stocks had a low threshold and a high success rate. Only the gold can be taken part in. The official disclosure rate is over 60%. The key is that the yield is guaranteed. Although there are occasional breakages, the annual sales rate is kept at around 30%, especially if the meat rate is maintained.
Kwai Kwai said, “what’s the reason for the quick purchase of the scene?” Jiang Hai said, “fast hand is a unicorn with short videos. It has nearly 500 million months of live users. I will see it regularly. I am content with the people and down to earth. I can’t say in the long run. There will be investment value in the near future, and there are not many new shares like this, so we must seize the opportunity.”
In addition to ordinary retail investors, the bytes Kwai staff group is playing a new role to make the hot scene more exciting. “The person who knows you best is not a lover, but an enemy.”
According to “LatePost late”, bytes beating employees are crazy to fight new. In the more than 300 employees’ stock group, full screen is orange Kwai’s quick hands to hit new link pictures, “grab 20 times leverage + financing quota”, “leverage increase the winning rate”, and finally the group has been repeatedly led to share and blocked by WeChat.
In fact, this is not entirely the support of friend companies, but a common “risk hedging” phenomenon in the head Internet companies, just like Alibaba and pinduoduo employees holding each other’s shares.
As everyone knows, Kwai Kwai’s tiktok is the most powerful, and tiktok IPO may accelerate the listing process of the jitter. So, for the fast runner, the byte beating employees should have a say. A participant who Kwai quickly beat the new byte runtime employee said that although the short video industry seemed to be in the bottleneck stage of DAU, the whole industry development still had a long rise.
On the one hand, from the overall content form of the Internet, small video has mastered the absolute advantage, and the social pressure is increasing, so the user’s consumption habits will inevitably turn to the more relaxed small video app; on the other hand, there is still a lot of space for the commercialization of small video. At present, both direct broadcasting and e-commerce are still in the state of barbaric growth, and the main test will be in the flat growth stage of Dau in the future Platform and community governance capacity.
A helping hand takes Kwai Kwai first title and hits the new scene to make Kwai Kong debut in the Hong Kong stock market. Apart from retail participation, the major brokerages and banks have also made preparations for the public to help them.
Leverage is new, securities companies are overweight
“We must increase leverage. The financing interest is about 2-5% per year, which is calculated on a daily basis. Compared with the first day of IPO, the increase is almost negligible. Adding leverage will increase the chance of winning the lottery.” Jiang Hai has always stressed the need to “leverage” to create a new market. What is “leverage”?
“Leverage”, also known as “margin”, is very common in the sale of new shares in Hong Kong. Banks and securities companies generally provide investors with new financing services. In line with the principle of “more subscription, more distribution”, investors can use the same principal to increase leverage by financing from banks and securities companies to subscribe for more stocks to improve the success rate. With the intervention of Internet giants, the financing interest has been greatly reduced. For example, futu securities has been reduced from 6.8% to 1.6% annually. Due to the decrease of financing cost, more and more investors choose to “leverage new”.
Last time ant group applied for H-share new shares, there was even an Internet Securities platform that allowed investors to use up to 20 times of capital leverage to participate.
Like Jianghai, there are many investors who leverage to win the lottery. Therefore, competing for the limited amount of financing has become a very important part of the new competition.
According to employees of tiger securities, the platform provided investors with HK $7 billion. After it was released at 11:30 a.m. on the 26th, it was completely robbed within one minute. Tiger securities had to add part of its financing line in the afternoon, releasing a total of HK $7.6 billion throughout the day.
Futu securities, another securities company, released its HK $8 billion financing line at 10:30 on the first day of subscription. However, due to the rush buying, the system was down for a time, and the interface always maintained “subscription peak, waiting in line”. While the number of people in line was nearly 30000, the bank financing line was rapidly reduced.
Jianghai in the subscription of futu securities also faced the situation of queuing, “tried several times to complete the subscription, fortunately prepared three accounts.” Jiang Hai is quite satisfied with his elaborate layout.
According to the statistics of “star of securities”, the first day of the first hand technology development was over HK $310 billion 600 million (about 259 billion 200 million yuan), of which, the loan of Kwai Chi securities amounted to HK $33 billion 600 million; Huali securities borrowed 31 billion 500 million Hong Kong dollars; Dahua followed 19 billion 100 million Hong Kong dollars; Fu Road Securities, fidelity certificates and kcke securities all borrowed more than 16 billion Hong Kong dollars; Huatai international borrowed 12 billion Hong Kong dollars, and British securities. 10 billion Hong Kong dollars. A spokesman for HSBC said the bank’s first day subscription recorded more than HK $100bn, a record high for IPO loan applications.
For Kwai Kwai securities analyst, the analyst of the tiger securities has made the source of the financial and financial management: “fast hand as the first stock of short video, the market heat of itself is beyond doubt, but more importantly, the Kwai has caught up with the dividends of the times.”
The tiger securities analyst said: from the overall trend, the investment trend of Hong Kong stocks in 2021 is stronger and the market is hot. Kwai IPO has just caught up with the market dividend. A shares have experienced two bull market since 2020, and some blue chip stocks are Kwai Chung, while Hong Kong stocks are generally undervalued and fundamentally improved. Since 2021, Hong Kong stocks have been leading the world and the capital has increased in the south. As of January 22nd, the total net inflow of Hong Kong stocks to the south of Hong Kong has reached HK $196 million, and the total market capitalization of Hong Kong stocks is 3.2%. As a whole, the Hong Kong stock technology stocks have more advantages than the A shares, and the fast IPO chooses. The timing is favorable.
After winning the lottery, it will be sold on the day of listing
“If I win, I usually sell it on the same day.” Jiang Hai is very sure to tell fuel finance, “bull stocks in the first day of listing will basically have a high rise, the day is likely to reach the peak yield.”
Many U.S. and Hong Kong stocks have the characteristics of “coming out is the peak”. Therefore, in the case of low certainty of the company’s future, most of the investors who participate in the new market choose to sell on the same day.
Fuel finance consulted 15 leading stocks with initial market value of more than HK $50 billion from 2019 to 2020. The probability of positive increase on the first day of listing is 80%, and the average increase in 2020 is as high as 26.7%. This finally explains why investors like Jianghai are keen to invest through innovation.
Source / Tiger community, @ value investment is king
On the other hand, from the prospectus information released by Kwai Kwai, although the fast business revenue increased from 8 billion 340 million yuan in 2017 to 39 billion 120 million yuan in 2019 and maintained a 117% compound growth rate of three years, it lost more than 5 billion yuan in 2018, except for 2017 yuan and 2019 profit. In 2020, the net loss was 9 billion 400 million yuan in the first 11 months of the month.
Apart from the expansion of deficit, the Kwai is also facing the bottleneck of the monthly decline and the lack of daily growth.
However, some investors will choose to hold it for a long time. As the “first share of short video”, it is still very scarce in the Hong Kong stock market, so there will be a premium for scarcity. After all, many of the “first shares” of the Hong Kong Stock Exchange have performed well. For example, the first shares of e-cigarettes, SIMORE, meituan and bubble Mart have gained 506%, 394% and 98% respectively so far.
Mobile phone Kwai Kwai has also been a user sticky user. From the past seven years, the mobile APP usage ranked TOP 20 list. We can see that the fastest starting from 2017 to the first ten, ranking has been rising until 2020, third days, daily live users open 10 times a day on average, one day to see fast, often 88 minutes, so high viscosity platform must have high investment value.
Old fellow tiktok tiktok Kwai, look at fiercely as a tiger does not forget. Since July 2019, the number of users has begun to surpass the fast track, and has always maintained the lead of 100 million. Two head companies are fighting and infiltrating in the short video battlefield, and competition will last for a long time.
“I should not hold Kwai Fu for a long time, or see the development of the company.” Another investor said that although the Kwai has “short video first share” aura, but the challenges are also great, Kwai’s investment has some uncertainty.
“If Kwai is listed, it will be more popular than tiktok.” Jianghai Xiangran financial forecast.
Of course, before the future happens, everything is just conjecture. We can only look forward to the lottery with Jiang Hai on February 4 and witness the IPO Carnival of “the first share of short video”.
*The pictures and some of them are from visual China. Jiang Hai is a pseudonym.
(statement: This article only represents the author’s point of view, not Sina’s position.)