My Fintech Empire

According to the annual report, Weibo's performance is still better than the market's expectations, which can be regarded as slightly exceeding the expected performance.

Exceeding expectations is mainly reflected in the number of user registrations, which is also the most valued data in the market. The market expects the number of users as of February this year to be 330 million. Unexpectedly, the number of users is 20 million more than expected.

As for the company's performance loss, who cares about it?

Only small white stockholders who have just entered the market will look at this and struggle with this. According to the latest annual report data, Weibo's static price-earnings ratio has reached 182 times. It has soared more than ten times, and the market value has reached more than 110 billion.

What everyone is speculating on is dreams. The P/E ratio of more than 180 times should be called the "market dream ratio". If Weibo makes money at this time, the stock price will not be able to support it. The imagination space of the mobile Internet.

After all, the country has a population of more than 1.3 billion, and the growth rate of Internet users is still blowing out, which has brought about an increase in the mobile Internet market.

Different from Fang Hong's previous life, the current Weibo is also supported by WeChat next door, and the expected space is further opened up.

There is no doubt that what Weibo is now speculating on is the valuation part, which is now soaring, and it is far ahead of the part of its value growth.

Therefore, the capital market does not care about how much money Weibo earns from its performance at all. What it cares about is the performance of the incremental speed and incremental scale of users.

...

The next day is Thursday.

A-shares opened, and Weibo intraday call auction opened +2.06% higher at 215.30 yuan. After the opening, its stock price rose to 216.72 yuan, and the increase expanded to +2.73%, which is already one step away from the previous high of 218.11.

However, 216.72 yuan is the highest price today, and today's stock price began to fall when it hit this position.

The short-term funds that bet on the annual report started to run away today, but the trading volume was not low at all, and there was a phenomenon of heavy volume and stagflation. In the afternoon, Weibo's stock price turned green.

After the market closed, the stock fell -1.37%, closing at 208.07 yuan, and the trading volume reached 11 billion, which was 300 million more than yesterday.

The volume and price are inconsistent, and some technical analysts are beginning to be bearish.

...

When the market opened on Friday, Weibo directly opened higher by +0.91%, and after five minutes of opening, it directly reversed the package.

At around 10:27, major market software pushes news:

[Weibo rose over +5%, the stock price hit a record high, and the current turnover exceeds 4.7 billion yuan]

When stockholders saw this push message, they couldn't help but cut the screen to look at the time-sharing panel of Weibo. Its stock price has risen to 221.79 yuan, and the increase has expanded to 6.59%.

In November last year, the price of 218.11 yuan broke through, which also pushed the market value of Weibo to a new historical high of 117.3 billion yuan.

The cumulative increase of the stock has reached +60.05% since the recent upward trend, and the cumulative increase this year has reached +52.17%. times.

In November last year, everyone thought that the price of 218.11 yuan was the top of Weibo’s universe, but it doubled to a record high in just over three months.

As of the close, Weibo surged +5.77% today to close at 220.08 yuan, with a full-day trading volume of 8.65 billion yuan, showing a shrinking anti-package market.

Today's selling pressure is not big, because yesterday's heavy volume and stagflation did not fall sharply, resisting the biggest selling pressure, so today's rising resistance is much smaller, and it has already hit a new high.

...

In the afternoon, stay in the villa quietly.

"Your proposed double-duty strategy for the company's finances has been answered by the superior." Tian Jiayi came back and went to find Fang Hong. He was still in the trading room at the moment. other work.

Fang Hong glanced at the beautiful assistant and said in surprise, "So fast?"

Tian Jiayi sat down, nodded and said: "I haven't changed a word, and I approved it directly."

Fang Hong immediately smiled and said, "It's unexpected, but it's reasonable."

His proposal can provide a large amount of additional taxes and fees for the national tax. The specific plan is 30-70. Most of the taxes and fees paid by Qunxing Capital are concentrated in the fourth quarter, to be precise, in December .

In 2010, Qunxing Capital actually paid 139.5 billion yuan in taxes and fees in full. According to the 30-70 split plan, 70% of the tax amount, or 97.65 billion yuan, will not be disclosed, and all of it will be directly paid to the national tax.

The remaining 30% of the tax amount of 41.85 billion yuan is public data. What outsiders see is that Qunxing Capital paid 41.85 billion yuan in taxes for the whole year of 2010. As for the other 97.65 billion yuan, it is of course unknown.

Even the figure of 41.85 billion is quite astonishing.

According to this number, it is still the absolute largest taxpayer in Xincheng at present, and it is the second place in the gap. The total tax payment of the top 100 local enterprises in Xincheng is less than this figure.

As for the 41.85 billion tax amount, the national tax and the local tax will be divided between six and four, that is, the national tax will take 60% of it, or 25.11 billion yuan, and the amount attributed to the Xincheng land tax will be the remaining 16.74 billion yuan.

In other words, of the 139.5 billion yuan in taxes actually paid by Qunxing Capital, the national tax took 122.76 billion yuan of it, and the remaining 16.74 billion yuan went to Xincheng Land Tax.

If the seven-level tax amount is not technically hidden, the land tax of Xincheng is 55.8 billion yuan. Now it is 16.74 billion yuan, which is equivalent to 39.06 billion yuan less. The less part is naturally reflected in the national tax.

It can be seen that it is not unreasonable for the approval and efficiency to be so fast.

For Xincheng, the loss of more than 39 billion in taxes must be a dull loss, and the boring loss is a bit big.

However, the amount of tax paid by Qunxing Capital is really too large. When 70% of the tax amount is not disclosed, a single company has contributed 16.74 billion in taxes to Xincheng. This amount accounts for a quarter of Xincheng's fiscal revenue. Even if calculated according to this number, the rise of Qunxing Capital has directly increased the financial revenue growth rate of Xincheng by +27% year-on-year, which is already second only to those first-tier cities.

It can be seen that Xincheng's finances are not tight, and the money bag is very rich.

If there is no technical concealment and it is directly revealed, then the tax paid by Qunxing Capital alone will be worth the total amount of other fiscal revenues, which will be several billion more, directly doubling the year-on-year growth rate. Revenue exceeded 100 billion, catching up with Pengcheng.

At the end, Fang Hong thought about it and said, "Since it is approved, the annual report will be published again."

Tian Jiayi nodded.

After re-listing, the outside world will never be able to calculate the real total asset size of Qunxing Capital through the data that has been made public. It is not a listed company, and many important data do not need to be disclosed to the outside world.

As for the third-party organization to penetrate the underlying assets of Qunxing Capital?

The puff pastry inside can never be penetrated, and there is too much room for maneuvering. For such a huge enterprise, the complexity of its asset structure, coupled with its intentional hiding, and the fact that it has obtained a license from above, makes it difficult for anyone to use it. .

In the end, there is a high probability that Qunxing Capital's current net asset size will be calculated in the range of 1 trillion, but it is actually 1.81 trillion.

...