text | City intern Peng Shuo
editor | Shanhaiguan
△Guo Taiming picture @Visual China
html On June 19, Industrial Fii stock price suffered another heavy hit. The company’s stock fell to the limit in the afternoon, reported at 20.32 yuan / share, with a total market value dropped to about 400 billion yuan.Industrial Fii is the name of Foxconn Group’s A shares listed. Since its listing on June 8, the stock price of Industrial Fii has been like a roller coaster. On June 13, the share price of Industrial Fii reached a high of 26.36 yuan per share, with a total market value of nearly 520 billion yuan. Subsequently, it fell for three consecutive trading days. On June 14 and June 15, the company's stock price fell by 9.45% and 3.05% respectively. The current stock price is down 23% from its highest point.
City Jie (ID: newsseeker) calculated that within three trading days, the market value of Industrial Fii evaporated by 106.4 billion, a shrinkage of more than 20%. Currently, Foxconn chairman Terry Gou holds 10.39% of Industrial Fii . Based on this calculation, Gou Taiming’s net worth has evaporated by 11.05 billion yuan since June 14.
Picture @Visual China
As the "world's largest foundry" and a representative enterprise in the manufacturing industry, Industrial Fii was once very popular. Not only did this year's IPO happen quickly, but the stock price hit the limit of 44.01% on the first day of listing. However, after three consecutive gains, the company's stock began to fall, far away from the five daily limits previously predicted by institutions. On June 12, there was a large-scale flight of institutional investors. The top five sellers with the largest sales amount that day were all institutional units, and the total sales amount of the five institutions was as high as 600 million yuan. The market has always been controversial about the market value of Industrial Fii . The focus of the debate is whether Foxconn is an OEM company or an industrial Internet company. Its most well-known label to outsiders is apple mobile phone foundry. The business from apple accounts for about half of Foxconn's total revenue. Previously, the company was often at the forefront of public opinion because the industry it was engaged in had low added value and was labor-intensive, and was notorious as a "sweatshop."
△Industrial Fii Stock Daily K-line Chart
Before the public offering of the stock, brokerage analysts were divided into two groups on the valuation of Industrial Fii . Guojin Securities once believed that Industrial Fii shares are scarce in A-shares, and the price-to-earnings ratio should be around 30 times. Together with the issuance of new shares to raise funds, the market value may exceed 500 billion. More analysts believe that the price-to-earnings ratio of Industrial Fii should be within a reasonable range of 20 times to 25 times, corresponding to a market value of 320 billion to 400 billion yuan.
In Terry Gou's view, Industrial Fii is no longer an OEM company, and the core of the company has transformed into the industrial Internet. When Terry Gou met with Jiang Xiangyang, general manager of Boshi Fund, on May 15, he said that the industrial Internet is an important direction of the transformation of Hon Hai Group in the past five years. It is the integration of Internet technology and intelligent systems into traditional manufacturing in the transformation and upgrading of the manufacturing industry. important carrier.
In recent years, in order to get rid of the label of foundry, Industrial Fii has continued to increase investment in research and development. Industrial Fii prospectus shows that from 2015 to 2017, the proportion of R&D expenses in operating income was 1.75%, 2.01% and 2.24% respectively, showing an upward trend year after year.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-