Text |Yang Wanli.
The first share of AI on the Science and Technology Innovation Board, "Geling Shentong's stock price changed, what happened?".
On December 4, Geling Shentong opened higher, rising more than 17% intraday. As of **, the company's gains narrowed to 766%, and the stock price is 2222 yuan, with a total market capitalization of 575.4 billion yuan.
On the news, at 14:10 pm on December 3, Geling Shentong posted on social ** that a wealthy man in Hebei found his son who had been separated for 25 years and reunited his relatives.
Geling Shentong mentioned in the 2022 annual report that at the level of AI algorithms, the company's core algorithms have won the championship in artificial intelligence algorithm competitions at home and abroad for many times, reaching the industry-leading level. Another brokerage analyst said that Geling Shentong is a leading AI company in China, forming a strong competitive barrier in the financial field.
Before the listing, well-known investors Xu Xiaoping and Shen Nanpeng were more optimistic about Geling Shentong. According to **, after some "arguments", the two sides jointly gave a valuation of 300 billion US dollars (about 2. yuan at the current exchange rate.)14 trillion). However, the current total market value of Geling Shentong is less than 1% of the valuation given by the two investment tycoons in the rumors.
In terms of secondary market performance, since its listing in March 2022, Geling Shentong has shown a fluctuating trend. After the listing, Geling Shentong first broke down, and in the first half of this year, benefiting from ChatGPT's AI boom, the company came out of another wave**.
During the year, a number of shareholders have successively ** the shares of Geling Shentong, who is selling?What is the reason?
Due to the popularity of the AI concept, Geling Deep Pupil achieved a positive increase during the year. From January 1 to December 4, 2023, Geling Deep Pupil has risen by more than 35%.
On the occasion of the stock price, many important shareholders of Geling Shentong are frequent. According to incomplete statistics, from late March to mid-November this year, the total amount of important shareholders exceeded 600 million yuan.
In detail, during the period from April 19 to August 4, 2023, shareholders Sequoia Capital CV IV Holdco IX, Ltd(hereinafter referred to as "Sequoia Capital"), the amount is about 13.3 billion yuan.
During the period from April 13 to August 16, 2023, the shareholder Ceyuan HK Holdings Limited (hereinafter referred to as "Ceyuan Venture Capital") cashed out about 1$2.6 billion.
During the period from April 13 to September 22, 2023, the shareholder Hangzhou Aolin Spring Science and Technology Center (Limited Partnership) (hereinafter referred to as "Aolin Spring") amounted to about 1$2.9 billion.
On March 17, 2023, Zheng**iv** cashed out about 195950,000 yuan.
From May 18 to October 12, 2023, Zheng** cashed out about 8,399560,000 yuan.
For the period from May 26 to November 9, 2023, the shareholders Hyundai Motor Company ("Hyundai Motor") and Hyundai Mobis Co, Ltd (hereinafter referred to as "Hyundai Mobis"), respectively** cashed out about 104.2 billion yuan, 1698580,000 yuan.
It is worth mentioning that Geling Shentong announced on November 11 that Hyundai Mobis** exceeded the original plan by 90,689 shares, but the total number of people acting in concert was not overproportional. Geling Shentong also said that the shareholder did not have subjective intentions and was caused by a calculation error.
We are concerned that in August this year, some investors questioned Geling Shentong on the phenomenon of shareholder ** on the SSE e-interaction, and said that "really good companies will be reluctant to sell".
The staff of Geling Shentong replied that the company's shareholders decide whether to ** according to their own capital needs, and some pre-IPO shareholders have a long investment cycle and are facing redemption pressure.
Geling Shentong also said to ** that the shareholders who issued the ** announcement mainly invested in the early days of the company's establishment, and it has been about 10 years now, as a ** shareholder needs to solve its ** maturity and LP redemption needs, which is a normal operation of the capital market and will not have a greater impact on the stock price.
The long-term performance of the stock price of listed companies is mainly determined by the fundamentals
It is understood that Geling Shentong is mainly engaged in the research and development and application of computer vision technology, big data analysis technology, robotics technology and human-computer interaction technology.
At the beginning of its establishment, the track chosen by Geling Shentong was the offline retail industry. With the vigorous development of the e-commerce industry and the squeeze of the offline retail industry, Geling Shentong chose to transform and turn to the mainstream field of in-depth Xi + face recognition, and stepped into the field of security. In recent years, the smart finance business has been the largest revenue of Geling Shentong**.
As of the end of 2022, smart financial products and solutions, and urban management products and solutions accounted for the proportion of Geling Shentong's revenue. 39%。It is understood that Geling Shentong's smart financial business mainly cooperates with large domestic banks, that is, the main income is in the B-end market.
In the first half of 2023, artificial intelligence products accounted for 86 percent of the company's revenue73%, but the composition of the relevant business is not detailed.
Some industry insiders have pointed out that "paying equal attention to the B-end and C-end is the future of the AI industry". If a company's performance is overly dependent on the B-end market, it may face problems such as fierce competition and low repurchase rate.
On November 23 this year, at the analyst meeting, someone asked Geling Shentong, "Will the C side do specific application scenarios?".”
Geling Shentong mentioned the metaverse business and sports field, and said that the company's sports products have just been launched this year, and products have already begun to be delivered, and they are also following up on potential order opportunities, and it is expected that sales will gradually increase next year.
Previously, in the 2022 annual report, Geling Shentong reminded of the risk, saying that "the company's commercialization in the fields of sports and health, rail transit operation and maintenance, and the metaverse is not as likely as expected".
In terms of performance, in the first year of listing (2022), Geling Shentong achieved an attributable net profit of 32.61 million yuan, setting a record for the first profit in recent years.
One of the important reasons for Geling Shentong's turnaround is related to interest income.
In 2022, Geling Deep Pupil will be 1368.9 billion yuan of funds for bank wealth management, of which 99.2 billion yuan** was raised in the listing, accounting for 18The total amount of funds raised of 2.6 billion yuan accounted for 5432%。Last year, Geling Shentong received about 3,323 interest income60,000 yuan.
In the first three quarters of 2023, Geling Shentong's attributable net profit loss was 17.28 million yuan, while the company's profit in the first half of the year was 21150,000 yuan, mainly due to a loss of 19.39 million yuan in the third quarter. Geling Shentong mentioned in the third quarter report that the loss was mainly due to the year-on-year decrease in operating income and the increase in R&D investment.
We will continue to pay attention to the performance of Geling Shentong and the stock price performance in the future.