SenseTime Group (0020), which was once a "poor" on the market, rose for three consecutive days after being listed in Hong Kong. It closed at a full-day high today, closing at 7.75 yuan, an increase of 40%, which has recorded a "double increase" from the IPO price of 3.85 yuan.
If the investor subscribes for new shares, the cost price is 3.85 yuan, and a lot of 1,000 shares can earn a maximum of 3,650 yuan.
Today's market closed, Shangtang closed at 7.75 yuan, up 40.9%, just double the IPO price.
SenseTime was originally sanctioned by the United States, the subscription response was mediocre, and retail investor sentiment was cold; now it has only been listed for a few days, and its stock price has soared by 70%, becoming a new economic stock "ugly duckling". Is it market hype or big power wrestling?
The U.S. Department of the Treasury listed Shangtang Group on the "Non-SDN Chinese Military-Industrial Complex Company List" last month.
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From sanctions to successful listing within one month
Looking back at the great changes that have taken place in the listing of Shangtang Group in the past month, Shangtang Group was originally scheduled to conduct an IPO on December 7 and the subscription will be closed on the 10th.
Before the cut off, there were reports that Shangtang would be included in the "blacklist" by the US Treasury Department.
As a result, on the night of December 10, the Office of Foreign Assets Control under the U.S. Department of Treasury (OFAC) announced that SenseTime Group was included in the "non-SDN Chinese military-industrial complex company list", which not only impacted the company’s supply chain, but also restricted the United States. Investors invested in Shangtang, and Shangtang Group also temporarily suspended its listing, making a "taste Q" on the doorstep.
Although Shangtang Group's road to listing was temporarily blocked, the company quickly discussed with the sponsor group to update the IPO documents and insisted on advancing the IPO.
As a result, a week after announcing the suspension of listing, SenseTime has re-drafted the IPO documents and "shuffled" the cornerstone investors.
Two investors including the Pleiad Fund, which was once managed by the "predator" Soros "old department", withdrew, and were topped by the Hong Kong Science and Technology Park Venture Capital Fund and Xima Ophthalmology (3309).
Despite the negative factors of U.S. sanctions, the total subscription amount of cornerstone investors rose instead of falling, increasing by more than 10% to US$512 million (approximately HK$3.99 billion).
Although the subscription part of cornerstone investors was not affected, the response of the public offering part was still mediocre. In the end, only 36,009 valid applications were received, and a total of 777 million shares were subscribed, which was 4.18 times over-subscription, and the limited price was set at the offer price of 3.85 yuan per share. .
Financial Secretary Chen Maobo attended the listing ceremony of SenseTime Group.
Chen Maobo rarely attended the listing ceremony
SenseTime Group was finally successfully listed on the Stock Exchange on December 30, stock code 0020.
Financial Secretary Chen Maobo also rarely attended the listing ceremony. He specifically mentioned that even if the SenseTime Group was unreasonably interfered by foreign governments on the eve of listing, in an attempt to obstruct the listing, he believed that for the strong, difficulties and challenges are the embellishment of the success story. .
He also pointed out that Shangtang is the first technology start-up "unicorn" bred by the Science Park, and its listing in Hong Kong is of special significance. He hopes that the company can contribute to the development of innovation and technology in China and Hong Kong and become a proud national brand. .
SenseTime Group has risen by more than 30% today, and its share price once reached 7.5 yuan, which is more than 90% higher than its offer price.
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Zeng Yuancang: The stock price soars for the strong players
Veteran investor Zeng Yuancang said that although SenseTime was sanctioned by the United States, its share price rose sharply within a few days, describing it as "a demonstration to the United States at a price."
However, compared with mainland funds rushing to support Shangtang, Zeng Yuancang tends to believe that the reason for the explosive rise is that due to the small subscription share of retail investors, the stock prices of large companies with the supply of goods are likely to rise under the "goods".
He also pointed out that rising stock prices of SenseTime may not mean that retail investors are optimistic about the company's prospects.
Regarding the factors sanctioned by the United States, Zeng Yuancang believes that these factors have indeed reduced the interest of retail investors to subscribe, and he does not rule out the possibility of further sanctions by the U.S. government in the future. "Like Huawei", the impact on the company's fundamentals may be reassessed at that time.
Nie Zhenbang: After stabilizing, look up at 8.8 to 9 yuan
According to Huasheng Securities analyst Nie Zhenbang, according to the prospectus, Shangtang’s past revenue growth has been impressive, with good fundamentals, coupled with its industry scarcity in Hong Kong stocks, and the stability of the Hang Seng Index at the time of listing, which brought positive benefits to the initial stage of listing. condition.
In addition, Nie Zhenbang also noticed that Shangtang Technology has a small market volume and a strong hand.
He quoted data from the Central Clearing System (CCASS). As of December 31, 2021, only about 1.725 billion shares were registered in the system, accounting for only 5.18% of about 33.282 billion shares issued, proving that the out-of-market volume is small.
Furthermore, the first five participants held a total of approximately 1.404 billion shares, accounting for 81.08% of CCASS's total volume of out-of-the-box goods, which is more than 80% reflecting the concentration of out-of-town goods, which also brings favorable conditions for the stock price trend.
At present, the first five participants of CCASS hold a total of about 1.4 billion shares. According to the cumulative trading volume of SenseTime's three days of listing, about 1.05 billion shares, the turnover rate has not doubled. Note that if the trading volume exceeds 350 million shares tomorrow, exchange The hand rate is more than doubled. With the listing price of 3.85 yuan, it has more than doubled at 7.75 yuan. Therefore, if you fail to see a close of more than 8 yuan for two consecutive days this week, you must be wary of the market outlook, or To revert to the level of 6 to 6.5 yuan.
As for if it is seen that the closing price is higher than 8 yuan for two consecutive days, a strong continued rise can be confirmed. At that time, it can be expected to rise from 8.8 to 9 yuan.