Skyrocketing 126.97%, Blockchain concept stocks Quartet shareholders reduce cash holdings by nearly 200 million yuan

Author: Chen

Source: Financial Network Chain Finance

On the afternoon of February 25, Sifang Jingchuang (300468), a company listed on the Shenzhen Stock Exchange, closed down 3.82% and is now reporting at RMB 45.01. But yesterday, Sifang Jingchuang surged 5.33% to a high of 48.85 yuan, and the last time Sifang Jingchuang reached that price was in June 2016.

Looking at the trend of the Quartet Jingchuang K-line, it has continued to fluctuate since June 2016. It has been as low as 10.89 yuan in January 2019. Although it has rebounded slightly since then, it has remained below 25 yuan until October 2019. In the middle of the month, the Quartet Jingchuang reversed the trend and went up and down several times.

According to Caijing.net's financial calculations on the chain, starting from the inflection point on October 22, 2019, Sifang Jingchuang has risen 126.97% so far, with an annualized return of more than 380%.

In these 4 months, whether the excellent performance of Sifang Jingchuang in the secondary market is based on the development of its own business or based on the enthusiasm of "blockchain concept stocks" is worth pondering.

Blockchain business revenue is less than 200,000 yuan, and the total market value of the secondary market has risen by nearly 5 billion yuan

On August 29, 2019, Sifang Jingchuang released the semi-annual report for 2019. According to its semi-annual report, Sifang Jingchuang's core business is to provide software products, solutions and application maintenance for financial institutions. The main source of business income is large commercial bank.

In the first half of 2019, Sifang Jingchuang's total operating income increased by 0.66% year-on-year, operating profit decreased by 0.92% year-on-year, net profit attributable to shareholders of listed companies increased by 2.32% year-on-year, and net cash flow from operating activities increased by 594.21% year-on-year. Assets decreased by 5.92% year-on-year.

Although Sifang Jingchuang has performed well in the first half of 2019, analyzing its growth rate shows that since the second half of 2017, the growth rate of Sifang Jingchuang has continued to slow down, regardless of total revenue or net profit. Therefore, in the secondary market, Sifang Jingchuang is still not increasing.

In late October 2019, Sifang Jingchuang began to make continuous efforts in the secondary market.

According to on-chain financial statistics, in the 84 trading days after October 22, 2019, there were more gains and fewer losses, and 54 trading days closed up, of which 18 trade days rose more than 5%, and 14 trading days hit the daily limit .

It is worth pondering that, behind almost every rally, corresponding blockchain-related news can be found.

On February 7, 2020, Sifang Jingchuang surged 10 points to touch the daily limit. Research institutions believe that the main reason is that the six central banks will hold digital currency discussion meetings in April, and the Fed is studying the feasibility of digital currencies. And Sifang Jingchuang owns Shanghai Jifu's subsidiary Kaidianbao, which is one of 33 third-party payment institutions that have obtained bank card acquisition qualifications nationwide;

On January 9, 2020, Sifang Jingchuang hit the daily limit. Research institutions revealed that the reason for the change was the expected release of digital currency. The "National Team Alliance Chain" blockchain service network was commercialized in April, and the blockchain sector changed.

On December 9, 2019, Caijing reported that the statutory figures of the central bank, led by the People's Bank of China, including the four major state-owned commercial banks of Industry, Agriculture, China, and Construction, China Mobile, China Telecom, and China Unicom The currency pilot project is expected to land in Shenzhen, Suzhou and other places. The pilot project was led by the Central Bank's Currency, Gold and Silver Bureau, and the Digital Currency Institute implemented it. Good for blockchain concept stocks. The post-blockchain concept stocks have strengthened collectively, and Sifang Jingchuang twice daily limit on December 9, 2019 and December 11, 2019

On October 23, 2019, a series of favorable policies appeared in China, and the blockchain sector has continued to strengthen in the next nearly one month. Sifang Jingchuang hit daily limit.

However, according to Sifang Jingchuang's third quarter report for 2019, the contribution of blockchain revenue to the company's performance in the first three quarters of 2019 is very small, accounting for only 0.33% of the company's total revenue in the first three quarters.

After calculation, Sifang Jingchuang's revenue on the blockchain business is about 169,000 yuan. The total market value of Sifang Jingchuang in the secondary market increased by 126.97% in 4 months, from 3.748 billion yuan to 8.508 billion yuan.

Blockchain business landed in doubt, shareholders reduced their holdings several times to cash out 197 million yuan

According to public information, Sifang Jingchuang focuses on the concept of "Bank 4.0" and a distributed basic platform. As early as 2016, Sifang Jingchuang has publicly entered the blockchain field. On its official website, the blockchain business is its showcase. One of the three hot products and solutions.

In the field of blockchain, the main products of Sifang Jingchuang are supply chain financial solutions and cross-border remittance solutions. At present, these two solutions are popular directions for traditional large companies to enter the blockchain field.

However, after analyzing the specific business of Sifang Jingchuang in the field of blockchain, it can be seen that Sifang Jingchuang has deployed the blockchain for three years, and the scope involved can be described as "broad but not refined."

In 2016, Sifang Jingchuang initially entered the blockchain; in 2017, it reached a cooperation with IBM; but in 2018, its main product is the blockchain talent activity platform Xunlefang, which is very different from the previous flagship bank + blockchain; 2019 In 2014, the focus of Sifang Jingchuang began to shift to cooperation with Huawei, and began to publicly indicate that the company now has comprehensive R & D and delivery capabilities from the underlying platform of the blockchain to application solutions, and the integration of blockchain + token economy The ability to innovate applications, and has accumulated rich R & D and operation experience in the field of encrypted digital assets such as digital currencies and application tokens.

It is understood that Xunlefang, which was launched for public beta in 2018, has released an official version on June 25 this year, but the Apple App Store in mainland China does not provide download of the APP, and only provides downloads in the Android market.

At present, two tokens of “Beecoin” (TBC) and “Beecoin” (TBB) have been launched in Xunlefang. Among them, “Beecoin” can be withdrawn into RMB and maintain a 1: 1 permanent stable exchange rate with RMB .

According to China Business Daily, the actual operation of Le Xunfang is worrying.

In addition, China Business Daily also pointed out that in the past six months, Sifang Jingchuang management and related persons and shareholders have repeatedly reduced their holdings of stocks. From November 2019 to the end of December 2019, several shareholders had several reductions. When the application of blockchain is still in doubt, Sifang Jingchuang shareholders and management are busy cashing.

According to on-chain financial statistics, in the "company business development and capital requirements", Sifang Jingchuang shareholders have reduced their stock holdings since October 2019, realizing approximately 197 million yuan.

Among them, Systex Solutions (HK) Limited reduced their holdings on December 16, 2019, December 20, 2019, and December 26, 2019 by the price of 38.0015 yuan per share, 37.3172 yuan per share, and 35.1038 yuan per share Shares, 766,700 shares, 175,800 shares, equivalent to about 70.705 million yuan;

Yiqun Group Holdings Co., Ltd. reduced its holding of 1,889,607 shares at a price of 40.273 yuan per share on December 17, 2019, equivalent to approximately 76.101 million yuan;

Yizhi Group reduced its holdings of 96300 shares, 1230200 shares, 445000 on November 8, 2019, November 11, 2019, and November 14, 2019 by 40.733 yuan per share, 33.304 yuan per share, and 35.029 yuan per share Shares, equivalent to about RMB 504.810 million.