is going to introduce today is Hemai Co., Ltd., and its listing code is 688032 on the Science and Technology Innovation Board . Stimulated by the three factors of high industry prosperity, continuous concentration of chips and beautiful technical form, the stock price has experienced a sharp trend.
If we count the rise and fall in the first half of 2022, the first place belongs to Zhejiang Construction Investment (excluding new stocks), which has risen as high as 305.98%. But if the statistics are based on the annual rise and fall rankings, that is, the ranking of absolute price increases, the first place belongs to the protagonist of our article, Hemai Shares. In the first half of the year, the company's stock price rose by 388.49 yuan, far surpassing other A-share companies. Although the performance of the company's stock price this year has been very outstanding,
set several embarrassing records when it first went public in December 2021. The first is the "most expensive new stock" in history, with an issuance price as high as 557.8 yuan! The previous record holder, Yiqiao Shenzhou, was far behind with its issue price of only 292.92 yuan. Winning the first lottery means preparing a capital payment of 278,900. Secondly, the highest amount of abandoned purchases. As mentioned above, the amount of abandoned purchases was as high as 363 million, and all of these abandoned stocks were eventually "accepted" by the sponsor CITIC Securities . Finally, there is the abandonment rate. The number of online investors who abandoned their purchases reached 651,000, and the abandonment rate was 18.7%, which also greatly exceeded the previous record holder, Shengmei Shanghai's 5.74% value.
Picture source: Flush
Those investors who have not abandoned their purchases are still quite happy. On the day of listing, the opening price of 633.66 yuan was the lowest price of the day. Even if it were sold immediately at this price, it would still make a profit of nearly 40,000 yuan.
I guess most investors would not have thought that something even better would happen just a few months later. Since April, the company's stock price has been rising, and by the beginning of July it had reached a high price of 924.99 yuan! It is worth noting that the ex-rights are also removed during the process. If the post-rights restoration is performed relative to the issue price, the price will be 1,297.99 yuan, which is a full increase of 740.19 yuan from the issue price! Even if
is 924.99 yuan after ex-rights , it has now become the second most expensive stock in the two cities, second only to Kweichow Moutai . Since the minimum number of shares purchased on the Science and Technology Innovation Board is 200, it means that the funds required to buy one Hemai share currently reach about 180,000 yuan.
So, what creates the champion of absolute price growth in the first half of the year? Liang Liang believes that there are mainly three reasons.
1. The industry’s super boom
The company’s main product is micro-inverter , which is an important part of the photovoltaic equipment industry. To understand it simply, because solar power generation directly generates DC power, but most of the AC power we use in our daily lives is AC power , the inverter acts as a "medium" to convert DC power into AC power. Micro, mainly refers to power, and micro inverters are mainly targeted at the household market.
benefits from the high prosperity of the photovoltaic industry, and the inverter market naturally follows the prosperity. However, in the past, the micro-inverter segment has been dominated by a foreign company called Enphase, which has almost completely monopolized and , and its market share has exceeded 50%! You know, this is a golden track with an industry scale of over 35 billion!
The protagonist in our article, Hemai Shares, only had a market share of 1.5% in 2020. However, thanks to breakthrough innovations in technology, products are more efficient and relatively cheaper, and they have already shown a certain ability to "slay the dragon". The market expects that it will be a high probability event that Enphase's share will gradually be eroded in the future.
Interestingly, in the golden segment of micro inverter, there is another listed company in the A-share market, and that is Yuneng Shares 688348, which was only listed in June this year. In less than a month, the company’s absolute price increase has reached 350.40 yuan! Second only to the brothers in the same industry, Hemai Shares, the protagonist of this article. It also reflects the extremely high prosperity of the industry from the side.
2. The chips are highly concentrated and the shareholders are “powerful”
Let’s take a look at the company’s shareholder research. The first is the concentration of chips. From 11,300 shareholders when it was first listed on December 20, 2021, there were only 3,354 shareholders left on December 31, a significant reduction of 70.36%.In the first quarter of this year, there was a further decline of 19.02%, with only 2,716 shareholders remaining, and the average shareholding amount per household was 2.1386 million yuan. And we can see that the industry average is 77,100 households. Therefore, it can be considered that the company's chips are highly concentrated.
Let’s analyze the top ten circulating shareholders. It can be seen that the top ten tradable shareholders are all institutions, and there are various institutions. Including joint ventures Bank of Communications Schroders, TEDA Manulife , foreign-owned BlackRock, domestic Great Wall Fund , insurance funds, and social security. Being able to gain favor through the "discerning eyes" of various institutions not only proves that the company's fundamentals are strong, but also "blocks" its room for a sharp decline to a certain extent. Therefore, we can see that even when the overall market environment was not good from January to April this year, the company's stock price remained very stable and did not fall significantly.
Image source: Flush
Image source: Flush
3. The classic technical bullish pattern detonated the market
. Before May this year, the company's stock price had been oscillating sideways around the central axis around 480, gaining momentum. After all, in the market environment before May this year, staying sideways and not falling was already a very strong performance. As the saying goes, "the horizontal direction is as long as the vertical direction is as high as the height." After the market bottomed out on April 27, the company also experienced an explosion after going sideways for nearly half a year. At the beginning of May, the volume continued to be positive, and the big positive line broke through the important resistance of the upper rail of the shock range (this is the ideal entry time in theory), and then in mid-May, the volume shrank and traded sideways in a narrow range. Consolidate again. At the end of May, there was another massive increase in volume, and because the chips were relatively stable, there was less pressure to take profits, so the time for each step back during the upward move was very short. The entire upward process is very "textbook style". Of course, for now, the entire upward trend is still good, and there are no signs of peaking yet.
So, in summary, the industry is extremely prosperous, the shareholders with concentrated chips are strong, and the technology is beautiful. These three reasons jointly created the first place in the absolute stock price increase in the first half of the year!
What do you think of Hemai Shares? Welcome to communicate with Liang Liang in the comment area below. Coding is not easy. If the content is helpful to you, please feel free to like and follow!
