The Spring Festival is approaching, the stimulation of strong sales factors will promote the rise of the white wine sector around the Spring Festival. The first-line liquor companies expected to increase their first quarter earnings growth will be closely watched by market funds. In particular, Luzhou Laojiao, "Securities Daily" fund weekly found that last week, funds and other institutional funds increased its holdings of 294 million yuan in the company's ranking last week, the industry's top positions in the list of positions. Analysts said that based on the expectation of sustained and rapid growth in net profit, fund funds and other institutional funds believe that the current stock price of Luzhou Laojiao is safe enough. This is the fundamental reason for the increase of funds in the fund last week.

For 5 consecutive days, Masukura Fund's net purchase of Luzhou 294 million yuan In the fourth quarter of 2010, Luzhou Laojiao launched the new 1573 Chinese taste and vintage special song for the first time. Both ex-factory prices are about ordinary 1573 and old Chinese special music respectively. At 2.4 times, both new products may be heavy for the first time in 2011 and boost revenue growth. After estimating that 1573 ordinary equipment will raise prices again, the actual factory average price in 2011 may increase by 20% year-on-year. In addition, according to the competitive characteristics of different price products, Luzhou Laojiao has established four independent channel networks, and the vitality and stability of the channels have been recognized by industry veterans, reflecting the company's executives' profound understanding of the essence of liquor channels, and Innovative organizational capabilities. The four independent channel networks go hand in hand, which is the organizational foundation for the continuous growth of Luzhou Laojiao.

It is worth noting that after the success of 1573, Laojiao has been looking for new growth points, including the proposal of "two-wheel drive" and channel construction. From the current point of view, 2011 has been the year in which Luzhou Laojiao's new products and channels have expanded. The senior researcher of Ping An Securities Food and Drinks believes that Laojiao’s new products and channel construction are in line with the current characteristics of the Chinese liquor industry and are optimistic about its effect.

It is reported that Luzhou Laojiao has previously set a target of 13 billion yuan in tax-inclusive income for white spirit in 2013, which means that compared with 2009, the average annual revenue growth rate for 2010-2013 will reach about 25%, which will be spur management. The important impetus for strenuous efforts and positive innovation. Ping An Securities raised its 2010-2012 performance forecast for Luzhou Laojiao to RMB1.51, 1.93 and RMB2.52, up 26%, 28% and 31% respectively year-on-year, with the per-share earnings of white spirits being 1.28, 1.75 and 2.34 yuan respectively. , year-on-year increase of 36%, 37% and 34%; also believes that in 2011 Luzhou Laojiao stock price is expected to reach 47-55 yuan, raising the company's rating to "strongly recommended." As of the close of January 14th, Luzhou Laojiao's share price was 41.2 yuan, and there will be room for upwards of at least 14%.

Based on the full understanding of the fundamentals of Luzhou Laojiao, funds from major institutions such as funds began to flock. According to the compass agency password data, from January 10th to 14th, institutions bought 1.368 billion yuan, sold 1.074 billion yuan, and bought 294 million yuan net. Funds and other major institutions for 5 consecutive days Masukura Luzhou Laojiao, Masukura amplitude of 1.02%, including Masukura 0.37% on January 10, Masukura 0.38% on January 11, Masukura 0.03% on January 12, January Masukura 0.22% on the 13th and Masukura 0.02% on the 14th of January.

54 funds in advance have been allocated 1.057 billion yuan in advance. According to the "Securities Daily" Fund Weekly observations, although Luzhou Laojiao suffered consecutive losses since December last year, but with the accumulation of up to 24.38% in October-November last year In the fourth quarter, the stock price still rose 12.7%, allowing the 54 funds holding positions to obtain a book loss of 1.057 billion yuan in the last quarter. According to the latest statistical data of the financial information, at the end of the third quarter of 2010, a total of 54 funds held positions in the stock, holding a total of 229 million shares, holding a total market value of 8.321 billion yuan, accounting for 32.05% of the company's circulation market value, accounting for the company's total market value. 16.44% of the ratio. In the fourth quarter of last year, Luzhou Laojiao has risen by 12.7%.

Specifically, at the end of the third quarter of this year, a total of 23 fund companies chose Shigekura Luzhou. Among them, E Fund, Dacheng two fund company's Shigekura fund's more, there are seven, respectively holding 26.3242 million shares, 2777.28 million shares; Great Wall's own fund, although there are 6 funds, but the total holdings reached 39.397 million Shares; Bo Shi only has three funds holding the stock, holding the same total as high as 26.9495 million shares.

From the perspective of the ratio of single fund positions, Great Wall’s Great Wall’s peace of mind returns the highest proportion of hybrid holdings, with 76.209 million yuan holding the stock market value, accounting for 2.94% of the market value of stock circulation; Dacheng's Dacheng 2020 life cycle, the end of the third quarter of last year Holding the stock market value of 479,0028,000 yuan, accounting for 1.85% of the market value of the stock circulation; Yi Fangda's Yifangda Shenzhen 100ETF, holding 367.791 million yuan in Luzhou, accounting for 1.69% of the market value of circulation. In addition to these three funds, there are 8 partial stocks holding more than 1% of the market value of Luzhou Laojiao, of which Bo Shi’s selection and Huitianfu’s balanced growth, and the Great Wall’s consumer value-added, three stocks’ base stock market value exceed 400 million. Yuan, which accounts for more than 1.5% of the market value of the stock's circulation.

From the perspective of investment floating earnings in the fourth quarter of last year, the four fund companies with the largest open positions, namely E Fund, Dacheng, Great Wall, and Bo Shi, received RMB 121,407,200, RMB 12,800,100, RMB 1,815,745, and RMB 12,420,570, respectively, from Luzhou Laojiao. Floating surplus, the four fund companies held a total of 555,187,400 yuan in the floating state of Luzhou Laojiao, divided up more than half of the fund book floating surplus.

The Shigekura Fund New Year's Resistance Against the Decline of the Two Great Wall Companies under the Great Wall According to the latest statistics from the Financial Exchanges, the average return on the actively managed partial equity fund's net value in the fourth quarter of last year was 5.89%, and the average net return this year was -3.91%. In Shigeo Laojiao's partial stock fund, after removing four index funds, the average net return of 50 funds in the fourth quarter of last year was 4.59%, and the average net return this year was -3.31%. Obviously, Shigekura's fund holding Luzhou Laojiao returned below the average line in the fourth quarter of last year, but this year it is clearly resilient.

Great Wall's Great Wall dual power, the Great Wall Jiuheng two balanced funds, 9-day net rate of return was 0.68%, 0.22%, is the Shigeo Zhangzhou Laojiao 50 active management of partial stock funds in the best performance. Among them, the Great Wall dual power holding Luzhou Laojiao market value of 24,855,000 yuan, accounting for the fund at the end of the fourth quarter of last year, the proportion of net assets of 16.58%, and as early as in the fourth quarter of last year received 3,156,600 yuan investment floating profit. However, in the fourth quarter of last year, Great Wall’s dual-power net return rate was -6.01%. Similarly, the Great Wall Jiuheng balance in the fourth quarter of last year, the net rate of return of only 0.36%, and the average performance of partial stock funds over the same period there is also a certain gap.

"In the fund's trend of affecting fund performance, the fund's shareholding is the most important factor. Only when the shareholding of the fund accounts for a large proportion of the fund's net assets, can we determine the positive equity gains and fund returns of Shigekura. "Relevance." An analyst from Beijing I Fund said in an interview with the "Securities Daily" fund weekly reporter that "at the end of the third quarter of last year, the Great Wall dual power holding Luzhou Laojiao circulation market value had a relatively large impact on its net value, In the context of the quarterly stock price soaring by 12.7%, the fund should generate significant book-loss, but unfortunately the net value of the fund has fallen against the market, suggesting that the fund is very likely to reduce this stock."

Then, how will Luzhou Laojiao behave before and after the Spring Festival? We will wait and see.