The company's stock price suddenly encountered a "flash crash" and hit the limit, which is not a good thing for many investors. However, there are always some "not afraid of death" funds that take over the limit down after the "flash crash".

Reporter Liu Hongfei Reporter of Meike and Editor of Meike Wu Yongjiu

The company's stock price suddenly encountered a "flash crash" and hit the limit, which is not a good thing for many investors. However, there are always some "not afraid of death" funds that take over the limit down after the "flash crash".

So, who are these "takers"? Many investors believe that in addition to the institutional seats, hot money business departments displayed by the information on the Dragon and Tiger List, and the large funds from unknown securities business departments, the rest are retail investors who do not know the truth.

However, a reporter from "Daily Economic News" found that the "takeover" of flash crash stocks are actually executives of listed companies with a high degree of understanding of listed companies but have relatively "vegetarian" trading skills.

Short-term trading closed for Shanghai Stock Exchange regulatory attention

On Tuesday, the Shanghai Stock Exchange issued the "Decision on Supervision attention Cong Jianhua, Director of China Hi-Tech Group Co., Ltd.". According to the Shanghai Stock Exchange, from May 2 to 12 this year, Cong Jianhua, a director of China Hi-Tech, repeatedly bought and sold the company's shares, which constituted a short-term transaction; and, his behavior of selling all the company's shares on May 11 also violated the relevant provisions of the " Company Law " that directors shall not transfer more than 25% of the total number of shares held by the company during their tenure.

In addition, Cong Jianhua's above-mentioned share trading behavior failed to report to the company in a timely manner, resulting in the changes in his shareholding on the exchange website that were not announced in a timely manner.

Cong Jianhua's current floating loss is only 12,700 yuan

So, how does Cong Jianhua operate in short term specifically?

is shown in the figure below. From May 2 to May 8 this year, Cong Jianhua successively increased his holdings in China Hi-Tech for a total of 4,500 shares.

Immediately afterwards, on May 11, Cong Jianhua first sold his 4,500 shares of China Hi-Tech in one fell swoop, and then bought 4,500 shares of the stock in one fell swoop. By doing T in a day, the profit was only 540 yuan.

, and, in addition to the above short-term trading, he also bought an additional 1,000 shares on May 11 and continued to increase his holdings by 500 shares on May 12.

Table 1: Cong Jianhua's trading of China Hi-Tech from May 2 to 12 this year

(Source: Wind Information)

Through calculation, it can be seen that Cong Jianhua's total purchase cost of increasing his holdings of China Hi-Tech 6,000 shares was 58,574 yuan, and the average cost per share was 9.76 yuan per share.

China Hi-Tech's recent daily K-line chart and Cong Jianhua trading situation

China Hi-Tech's closing price on Tuesday was 7.64 yuan per share. This means that Cong Jianhua's holdings of these 6,000 shares of China Hi-Tech have fallen by 21.73%, with a floating loss of 12,734 yuan.

According to wind information, in addition to being the current director of China Hi-Tech, Cong Jianhua is also the current general manager of the audit department of Peking University Founder Group Co., Ltd., and has served as the director and general manager of Peking University Founder Group. From the perspective of equity relations, Peking University Founder Group is the largest shareholder and controlling shareholder of China Hi-Tech.

So, what does this current floating loss of 12,700 yuan mean for Cong Jianhua? Investors may not be difficult to understand.

Cong Jianhua's trading process detailed explanation

As shown in the figure below, Cong Jianhua's first round of short-term trading was May 2 when China Hi-Tech gaped and crashed to the limit. Although the stock was pried open the limit several times in the morning of the same day, it was blocked at the limit shortly after midday until the closing.

Combined with the average trading price on May 2 in Figure 1, it can be seen that Cong Jianhua, as a director of a listed company, bought 1,000 shares of the stock against the trend at the limit price.

May 2 this year China Hi-Tech Time Sharing Trend Chart

On May 3, China Hi-Tech fell sharply, showing a sideways narrow range fluctuation in throughout the day. Combining Cong Jianhua's three purchases on the day, it is not difficult to find that 1,000 of the shares were bought a few minutes after the opening, and 1,000 of them were bought a few minutes before the closing.

On May 4 and May 5, China Hi-Tech showed a shrinking and sideways trend, and Cong Jianhua did not operate the stock.

htmlOn May 8, China Hi-Tech opened low again, and began to accelerate the volume decline at around 14:40 in the late trading. However, judging from the average transaction price of his 500 shares that day, Cong Jianhua did not increase his position after the stock plunged at the end of the trading day.

Judging from the above operating behavior, Cong Jianhua's signs of buying against the trend of China Hi-Tech are still very obvious, which is obviously different from the operating style of preferring "chasing the rise and selling the fall".

However, like many retail investors with poor trading skills, Cong Jianhua also has the habit of increasing positions and diluting the cost of holdings after a sharp drop; instead of stopping the loss first, and intervening after the signal established at the stage bottom is obvious.

On May 9 and May 10, China Hi-Tech rebounded briefly, and Cong Jianhua's shareholding remained unchanged.

Then on May 11, after China Hi-Tech opened low again, Cong Jianhua sold the total of 4,500 shares he had bought in the morning; then, he immediately returned the 4,500 shares.

And, when China Hi-Tech's stock price hit a new low and then rebounded after midday that day, Cong Jianhua also bought 1,000 shares. Cong Jianhua's style of buying stocks against the trend has become another phenomenon.

Finally, on May 12, China Hi-Tech opened slightly higher and fluctuated narrowly throughout the day. Cong Jianhua bought another 500 shares. After the closing of the day, Cong Jianhua reported the stock trading situation to China High-tech.