It’s crashing. It’s a new low


Hello, everyone, I’m Quantum Panda. Today, the ipo of Puyuan Precision Electricity plunged at the opening and closed down 34.66%, which means a loss of more than 10,000 yuan in one contract, which has refreshed the loss record of new shares in the impression of Panda.And the loser has to be the lucky 0.04% winner…It’s really hard luck to lose money.Puyuan fine electricity purchase to the rating is “give up + give up”, the fundamentals and issuing situation is not even as good as listed Ding Yang technology, so conniving new arbitrary issuance and then bear the broken hair, good or bad?In terms of individual stocks, Hengrui Pharmaceutical also collapsed today, closing down 3.94% at 33.93 yuan, losing 65% of its market value from the high of 97.16 yuan in January last year and hitting a new low since 2019.Standing guard inside the shivering do not know there is no bottom line, outside the onlookers also shivering do not know can also copy bottom.Hengrui panda is in fact very like a stock, also wrote several analysis articles, but but because of the basic face down and slow to see the inflection point and has been unable to do.Turn over the latest article to write hengrui is in October last year on the interpretation of the three quarterly reports, when the hengrui view is that although the innovative drug transformation power is sufficient, but the impact of the collective mining will continue, I am afraid to see the inflection point is not so optimistic, is expected to get at least the second quarter of next year.In fact, the investment logic of Hengrui is relatively clear, and the main difficulty is to grasp the rhythm. Currently, Hengrui is facing the problems of bad fundamentals and reconstruction of valuation. In terms of policy, it is impossible to stop the collective acquisition of generic drugs, and in terms of transformation, the research and development of innovative drugs will face risks and time problems.In the absence of fundamentals, no performance more like real estate policy bottom, reversal can only rely on their own slowly climb, obviously the market will not buy, for Hengrui, but also need time.Yesterday bank of Ningbo released an annual report, several main data are as follows: Revenue and profit continue to maintain high growth, 2021 revenue of 52.8 billion yuan, a year-on-year increase of 28.4%, the mother of 19.6 billion yuan net profit, a year-on-year increase of 29.9%.Asset quality is also stable. NPL decreased 1bp to 0.77% quarter-on-quarter in the fourth quarter, and provision coverage increased 10.2 PCT to 526% quarter-on-quarter, among which NPL has dropped to the lowest level since 2012.The bright spot was a sharp increase in client numbers and asset size in wealth management and private banking, while the weak spot was a 3.1% drop in net interest margin, which was squeezed by both the asset and debt ends.The bright spot is wealth management and private banking business, while the main drag is net interest margin. The bright spot and trough offset each other. In summary, bank of Ningbo is not particularly beyond expectations, but it does not affect the growth stock.Macro aspect, still no news of quasi and cut interest rates this week, but the Treasury ETF has red 4 days in a row, market to the rate cut expectations are very high, the day before yesterday G often also mentioned again monetary tools and steady growth targets, while not explicitly mentioned must cut interest rates, but some words frequency has been more and more high.As for when can land this is still not easy to say, after all, the RRR rate cut involves too wide, the whole decision-making link also…If the internal differences cannot be sorted out, it will be hard to have the courage and motivation to make this decision in advance, at least if the economy does not deteriorate to the point that KPI cannot be achieved. After all, the side effects of releasing water cannot be ignored.According to the continuous observation and prediction of pandas during this period of time, it is very likely to be missing…No…The rhythm, do not be too optimistic, the bottom will continue to grind.And in the process of grinding must always be on guard against the impact of external uncertainty, so it is recommended that we have a good check to check their positions, especially on the leverage of the investors, must be on guard against the risk of big bearish raid through liquidation, otherwise later how to cut interest rates and how to rise also has nothing to do with you.Overall, the process is difficult, but the ICU to KTV is predictable.So much for Friday. Have a great weekend and don’t forget to like and follow us. If you want to know more about quantum Panda, come and follow us

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