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90 Stocks Limit up After Opening! A Year When the Concept of Chinese A-share Blockchain is Ready to be Launched

Abstract : Here comes the tide of limiting up! Affected by last week's positive trend, Chinese A-share blockchain concept stocks have showed a good momentum. About 90 of them have limited up after the opening.

ChainDD
ChainDD

Oct 31

The past weekend seems to be closely related to a word, which is "blockchain". 

In the eighteenth collective learning of the Central Political Bureau, Xi Jinping, the general secretary of the CPC Central Committee, emphasized the importance of the blockchain and set the blockchain as an important breakthrough in the core technology innovation, making clear the main direction, increasing investment, tackling a number of key core technologies, and accelerating the development of blockchain technology and industry.

Both academics and business professionals believe that the central government will set off the climax of blockchain technology research and application in China. 

As an innovative technology, blockchain has been actively distributed by many start-ups and public companies. Recently, the Network Information Office released the second batch of blockchain filing enterprises. Combined with the first batch of blockchain filing information released at the end of March this year, there are 506 blockchain enterprises in China that have been filed. Baidu, Huawei, Alibaba, Jingdong, Tencent and other enterprises have been selected, including many Chinese A-share listed companies.

According to ChainDD, in the first batch of the blockchain filing list of NCB, 27 Chinese A-share listed companies were included, such as E-visible, Annie, Ping An, and Xinhua Net. In the second batch of filing list, 19 Chinese A-share listing companies were all included, such as Storm group, Midea Group and China Southern Airlines.

Looking back on Chinese A-share listed companies' eagerness to try on the blockchain, it seems to be both timid and brave. At the beginning of 2018, due to the concept of "blockchain", many stocks in Shanghai and Shenzhen stock exchanges have limited up many times, which has aroused the attention of the regulatory authorities and a series of inquiry letters to ask whether it involves "blockchain concept hype", including U9 game, which has two trading limits in a row, and E-visible, which has four trading limits in a row. 

Under strong pressure, Chinese A-share listed companies respond to regulatory units with a cautious attitude of "no", "not involved", "still in research and exploration", "not directly generating economic benefits". At that time, the blockchain was far from the public's vision, and listed companies were basically using bitcoin to hype the concept. From the perspective of individual stocks, after a wave of conceptual speculation and regulatory inquiries, the stock price gradually fell back to the normal range.

Since then, the momentum of blockchain in the Chinese A-share market has not been able to continue. Until March 30, 2019, several listed companies appeared in the filing list of NCB. In that list, in order to avoid risks, ChainDD noticed that all Chinese A-share companies have filed blockchain projects with subsidiaries. It can be said that since then, blockchain enterprises have been "regularized", and Chinese A-share companies have begun to dare to admit their blockchain business, but they have converged.

On October 18, the second batch of blockchain filing list was officially announced. A total of 10 Chinese A-share companies, including East Money, Hundsun Electronics, Ping An Bank, Bank of Jiangsu, Hand China, CES Group, Brilliance Technology, Yuan Guang Software, Industrial and Commercial Bank of China, and China Southern Airlines, have directly filed a number of blockchain projects with listed companies. A week later, the blockchain technology was set at a central level.

For a while, a group of Chinese A-share companies sprung up, competing to express their own blockchain business research and development and layout to investors. Companies such as Aikang International, MYS and Dongtech actively replied to the situation related to blockchain.      

46 listed companies directly or indirectly participated in the filing of A-share. Technology applications are mainly distributed in the fields of underlying platform, traceability public welfare, trade finance, supply chain finance, identity authentication and copyright confirmation.

Ping An Group (including its financial technology companies such as One Connect and Lu.com) has 10 registered products. Among them, Lu.com belongs to the financing platform of Ping An group. At present, blockchain has been applied in many operation links of the platform, including using blockchain technology to assist user identity authentication, using blockchain to trace the source of online loan transactions, and some asset management, trust and private placement products have used blockchain technology.

According to the data of East Money Choice, there are 153 Chinese A-share listed companies including the filing companies and those that have publicly expressed "involving blockchain". Geographically, there are 41 in Guangdong, 33 in Beijing and 14 in Zhejiang, followed by Jiangsu, Fujian and Shanghai.      

From the perspective of the representative listed companies that have disclosed blockchain business, blockchain has been successively implemented in the fields of Finance (including supply chain finance), cloud computing power, energy, copyright, certificate and so on.

It is worth noting that Yuanguang Software is the only listed company under the State Grid e-commerce, which has an obvious strategic position in the State Grid system. "We expect that the company will be one of the main technologies of State Grid blockchain and will deeply benefit from the construction of domestic energy blockchain," Sealand Securities wrote in its report.

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