Vaccine incident hits 700 stocks in concept stocks
Vaccine stocks are now black swan. Many funds step on mine. Source: Beijing Commercial Daily Recently, the “fake” incident of Changsheng Biological (002680) vaccine continued to ferment, spreading in public opinion during mood fluctuations, and only reached the A-share market.
On July 23, the concept stock of biological vaccines declined collectively. Hundreds of public funds were also unfortunately fired.
In the first half of the year when pharmaceutical stock funds rose, whether the pharmaceutical sector will be affected by the black swan incident of vaccine concept stocks, and how fund investors should respond, has also attracted market attention.
Vaccine incidents hit the concept stock Longevity biological vaccine “fake” The impact of the incident has been transferred to the A-share market, on July 23, the A-share pharmaceutical sector suffered a heavy blow.
From the perspective of the disk, the pharmaceutical manufacturing sector has led the decline, ending the July 23 close, and the overall decline in the pharmaceutical manufacturing sector was 3.
According to statistics, the pharmaceutical manufacturing sector has a total of 227 stocks, and 197 stocks have declined to varying degrees, and 56 stocks have fallen by more than 5%.
From the perspective of the concept sector, the top 10 decliners are also related to medicine, including monomer concepts, exclusive medicines, Chinese medicine, and immunotherapy.
As of the close of July 23, the biovaccine sector fell by 2.
According to Oriental Fortune statistics, there are 52 stocks in the biovaccine sector, of which 10 stocks may decline.
In the bio-vaccine section, in addition to Changsheng Bio, Changchun High-tech, Zhifei Bio, Kangtai Bio and Watson Bio all had “one”
daily limit on July 23.
In addition, Taihe Health, Hualan Biological fell more than 9% on July 23.
Changchun High-tech, Zhifei Biological and other bio-vaccine concept stocks fell and multiple institutions staged a “great escape”.
According to the after-hours trading information announced by the exchange, on July 23 the five institutions’ seats sold a total of about 1 in Changchun High-tech.
08 trillion; three institutions sold about 2 Hualan Bio on the same day.
66 trillion, Shenzhen Stock Connect bought Hualan Bio about 2132 on July 23.
920,000 yuan, Shenzhen Stock Connect also sold Hualan Bio about 1 on the same day.
The frontier has been hit hard, and the market value of related biovacuum concept stocks has also shrunk significantly.
Taking Zhifei creatures as an example, as of July 23, Zhifei creatures closed at 44.
1 yuan / share, a decline of 10%.
Calculated on the basis of the total share capital of 1.6 billion yuan of Zhifei Biotechnology, the market value of Zhifei Biotechnology has decreased by 7.8 billion yuan on a trading day on July 23.
The market value of Changchun High-tech and Watson Bio on July 23 also evaporated by 40.
600 million, 32.
Wind data from over 700 funds show that at the end of the second quarter of this year, a total of 789 public fundraising funds hold 35 biological vaccine concept stocks, with a market value of 226 positions.
7.6 billion yuan.
Among them, the stocks held by public equity funds with relatively high stock market values include Changchun High-tech, Kangtai Biotech, Zhifei Biotech, etc., each holding a stock market value of over 3 billion, respectively, reaching 81.
7.7 billion, 36.
8.3 billion, 32.
9.8 billion yuan.
In addition, from the perspective of the number of fund managers of vaccine concept stocks, Changchun High-tech is held by more than 66 fund managers, accounting for nearly half of the total public fund managers.
Data show that as of the first half of 2018, Castrol Fund, Wells Fargo Fund, Boshi Fund, Penghua Fund, China Merchants Fund, Shanghai Investment Morgan and other affiliated public equity fund companies have more than 10 funds affiliated with Changchun High-tech.
In addition, Zhifei Biological, Kangtai Biological, and Biological Holdings have 3 biological vaccine concept stocks. This year, the number of public fund holdings in China also exceeded 30, 46, 33 and 32 respectively.
From the perspective of the proportion of public vaccine funds holding biological vaccine concept shares in circulating shares, the fund holds Kangtai Biological, Changchun High-tech, and Jianyou shares account for more than 20% of circulating shares, respectively, reaching 24.
12% and 20.73%.
However, the long-lived organisms that are about to cause the vaccine concept stock Black Swan are not much held by the fund, and only two funds step on the mine, namely the E Fund biotechnology index grading fund and Dongfang Liqun hybrid initiated fund.
As early as July 15, after Changsheng Biological exposed the existence of records of rabies vaccine fraud, a large number of fund companies lowered their valuations.
As of July 23, companies such as Boshi, Anxin, E Fund, Guangfa, Jiutai Fund, Teda Manulife and other companies have downgraded the longevity biological variables, among which E Fund, Jiutai Fund, and Boshi Fund, etc.
5 yuan for estimation.
GF Fund, China Merchants Fund, Anxin Fund, etc. have lowered their longevity assessment to 16.
As of July 23, Changsheng Biotech had fallen below the estimated adjustment price of the aforementioned fund company, and the closing price of the day was 13.
05 yuan / share.
Beijing Business Daily reporter noticed that after July 16, Teda Manulife was called Changsheng Biological 16.
After the adjustment of the estimated price of 11 yuan, the stock price was lowered again on July 23, and the estimated price was reduced to 10.
In addition, on the same day, Rongtong Fund, BOC Fund, Wells Fargo Fund, Changsheng 杭州夜网论坛 Fund, etc. also evaluated and adjusted the vaccine concept stocks of their securities investment fund holders. For example, Rongtong Fund adjusted the Kangtai Biological of the combined fund holder.The adjusted estimate is 46.
95 yuan, 57 than the closing price.
96 yuan, equivalent to nearly two daily limit.
The BOC Fund adjusted the valuation of Kangtai Biological held by some of its funds (except ETF funds) to 42.
In addition, Wells Fargo Fund made adjustments to the stocks of Kangtai Bio, Zhifei Bio, Changchun High-tech and other stock holders of its securities investment funds. Kang Tai Bio follows 42.
25 yuan for estimation, Zhifei creatures follow 39.
69 yuan is estimated, Changchun High-tech follows 192.
78 yuan for estimation.
Changsheng Fund adjusted the estimates of Shanghai R & S held by some of the company’s funds, and the estimated price was adjusted to 12.
67 yuan / share.
Short-term persistence risks Beijing Business Daily reporters noted that some fund companies are relatively optimistic about the follow-up medical sector. For example, E Fund Medical Health and Yang Fang Xiao, the theme fund manager of E Fund Health, believe that the medium-term and long-term medical sector still has high configuration value.Directions such as innovative medicines deserve special attention.
In Yang Yixiao’s view, the core logic supporting the long-term development of the pharmaceutical industry is the change in the structure of domestic consumers’ medication.
In the short term, he said that there was no need to over-intervene.
“The pharmaceutical sector has few problems in logic and performance, most of which are mainly due to excessively high short-term forecasts, adjustments to adjustments, and risks may also be released.
“From the perspective of the impact on the longevity holding fund, Wang Tai, a senior researcher at the Datai Jinshi Research Institute, pointed out that this incident was mainly concentrated on longevity, but in the newly released second quarterly report, 11 longlife holdings in the first quarterThe funds have all fled. The top ten heavy warehouses, including Changsheng Biological’s active management fund, have only one Oriental Liqun mixed, and the impact on public funds in terms of quantity is not large.
However, in terms of the impact of the entire medical theme fund holding vaccine concept stocks, Wang Yan admitted that the pharmaceutical stocks performed well in the first half of the year. In addition to the performance recovery of the pharmaceutical industry, they were also stimulated by the medical reform policy.Indeed, it has attracted the attention of public offering funds. Public offering funds pursue relative returns based on performance comparison benchmarks. As a result, the fund estimates the convergence of its asset allocation. The industry likes to focus on holding stocks and holding concept stocks to adopt stable management performance.Role, but at the same time will increase the risk, once the stocks of the concentrated holders emergencies, it is difficult to escape quickly, easy to step on the black swan.
The theme funds or industry funds hold relatively concentrated stocks and the risks are relatively high. It is still necessary to make a portfolio investment beforehand to diversify investment risks. If you judge the influence of black swan interactions, it is recommended to stop losses in a timely manner.
Wang Ye pointed out that in the second half of the year, there are many unfavorable news for pharmaceutical stocks. Except for Changsheng Bio, Shapu Aisi, Huahai Pharmaceutical and other companies have exposed large and small scandals, the trend of the pharmaceutical industry in the second half will be moreAffected by the transactions caused by these Black Swan incidents, especially after the continuous rise in the first half of the year, pharmaceutical stocks may have overdrawn the industry’s good expectations. Once investors’ pessimistic expectations of the industry spread, the pharmaceutical sector will bear the brunt.
From the perspective of the entire market, the performance of the funds on the market is from one sector to another, so before the event of Changsheng Biological is properly resolved, there is still risk in the pharmaceutical stocks in the short term.
However, the gradual strengthening of supervision will gradually withdraw from companies that are not standardized, which will also be beneficial to the long-term development of the industry.
Beijing Business Daily reporter Su Changchun Liu Fengru / Wen Wangfei / Watchmaking