Feng Liu, a star fund manager at head private equity firm Gaoyi Capital, cut his stake in defence company AVIC Electromechanical at the end of last year and dropped out of the company’s top 10 current shareholders, according to the latest disclosure. Outside AVIC, Feng Liu insisted on holding SaiMicroelectronics, Shanghai Jahwa (600315.SH), holding the number of shares did not change.
Unlike Feng Liu, Gao Yi asset fund manager Deng Xiaofeng is more in favor of military enterprises. Gao Yi Xiaofeng No.2 Zhixin Fund under its management increased its holdings of AVIC JUKI by 1.4128 million shares at the end of 2020, with a total holding of 10.6465 million shares, and a total holding market value of 1.331 billion yuan. At the same time, Deng Xiaofeng also on a large scale bottom of the Antarctic electricity business. As of January 26, 2021, Product Xinjin under Deng Xiaofeng was the seventh largest outstanding shareholder of the company, with 35.150,600 shares held.
Interestingly, while Gao Yixiaofeng No. 2 Zhixin Fund increased its holdings at the end of 2020, another fund headed by Deng Xiaofeng, Ruijin 43rd Gao Yixiaofeng Investment Trust, reduced its holdings of Zijin Mining by 29,058,300 shares in the fourth quarter of last year.
In addition, Zhifu, another fund manager managed by Wu Renhao under Gaoyi Asset, increased its stake in Shandong Heda, a chemical company, by 626,700 shares at the end of last year, with a total number of 2,413,100 shares, and the market value of its holdings increased to 83,0105 yuan.
Ms. Feng significantly reduced her stake in AVIC
Gao Yi Linshan No.1 Yuanwang Fund, a product run by Feng Liu, a star fund manager at head private equity firm Gao Yi Capital, cut its stake in AVIC, a military conglomerate, at the end of last year and dropped out of the company’s top 10 current shareholders, according to the latest disclosure.
Gao Yi Lingshan No.1 Yuanwang Fund held 115 million shares of AVIC as of the end of the third quarter of 2020, down 23 million shares from the previous quarter, according to data. And at the end of 2020 in the list of the top ten circulating shareholders, has not seen the fund trace.
According to the fourth quarter of last year, the tenth largest circulating shareholder of AVIC – the National Social Security and Fund 106 portfolio held 33.820,400 shares, Gaoyi Linshan No.1 Yuanwang Fund at the end of last year at least to reduce the company’s shares 81.179,600 shares.
As a matter of fact, Feng Liu entered the top 10 floating shareholders of AVIC for the first time in 2020. At that time, it held 61.5 million shares, making it the company’s sixth-largest outstanding shareholder. He then added 76.6 million shares in the second quarter, bringing his holdings to 138 million shares and making him the company’s third-largest outstanding shareholder.
However, in the following three and four quarters, Feng Liu began to reduce the position of AVIC. By the end of the third quarter of 2020, Gao Yi Linshan No.1 Yuanwang Fund had reduced its holding in AVIC by 23 million shares, with a total holding of 115 million shares. At the end of the fourth quarter to reduce holdings is more fierce, directly out of the company’s top ten circulating shareholders list.
AVIC Mechanical and Electrical has no small contribution to Feng Liu’s net product management. The stock was up 65.84% last year, but it has been falling since October, falling 0.17% overall in the fourth quarter. The company’s shares are down 12.84% this year.
At the same time, Feng Liu holds a micro electronics, Shanghai Jahwa stock number has not changed. At the end of the fourth quarter of last year, Gaoyi Linshan No.1 Yuanwang Fund held 4.56 million shares of SaiMicroelectronics warehouse, with a market value of 109 million yuan. Holds 23.8 million shares of Shanghai Jahwa, holding a market value of 827 million yuan.
From the perspective of stock price trend, the above two stocks fell in different degrees in the fourth quarter of last year, among which the share price of SAI Microelectronics fell 19.55%, and the share price of Shanghai Jahwa also fell 7.88%. So far this year (through March 19), SaiMicroelectronics shares have fallen another 10.20%, while Shanghai Jahwa shares have risen all the way to 37.63%.