Private Equity Firms in Hua Hong Semiconductor Limited (HKG:1347) Are Its Biggest Bettors, and Their Bets Paid off as Stock Gained 3.6% Last Week
Private Equity Firms in Hua Hong Semiconductor Limited (HKG:1347) Are Its Biggest Bettors, and Their Bets Paid off as Stock Gained 3.6% Last Week
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Key Insights
关键洞察
- The considerable ownership by private equity firms in Hua Hong Semiconductor indicates that they collectively have a greater say in management and business strategy
- The top 4 shareholders own 52% of the company
- 18% of Hua Hong Semiconductor is held by Institutions
- 在华虹半导体中，股权投资公司的大规模持股表明它们在管理和业务策略中有更大的发言权。
- 前四大股东持有公司52%的股份。
- 18%的华虹半导体股份由机构持有。
Every investor in Hua Hong Semiconductor Limited (HKG:1347) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are private equity firms with 42% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
每位投资者在华虹半导体有限公司（HKG:1347）都应清楚最强大的股东集团。而占有最大份额的群体是股权投资公司，持有42%的股份。换句话说，该集团将从其对公司的投资中获得最大收益（或承受最大损失）。
Clearly, private equity firms benefitted the most after the company's market cap rose by HK$1.3b last week.
显然，股权投资公司在上周公司市值增加了13亿港元后获益最多。
Let's take a closer look to see what the different types of shareholders can tell us about Hua Hong Semiconductor.
让我们更仔细地看看不同类型的股东可以告诉我们关于华虹半导体的信息。
What Does The Institutional Ownership Tell Us About Hua Hong Semiconductor?
机构所有权告诉我们关于华虹半导体的什么？
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
机构通常在向自己的投资者报告时，会与基准进行比较，因此一旦股票被纳入主要指数，他们通常对该股票会更加热情。我们预期大多数公司在登记时都会有一些机构，尤其是当它们正在增长时。
We can see that Hua Hong Semiconductor does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Hua Hong Semiconductor's earnings history below. Of course, the future is what really matters.
我们可以看到华虹半导体确实有机构投资者；他们持有公司的相当一部分股票。这表明在专业投资者中有一定的可信度。但我们不能仅仅依赖这一事实，因为机构有时也会做出糟糕的投资，就像每个人一样。如果多个机构同时改变对一只股票的看法，股价可能会迅速下跌。因此，查看华虹半导体的盈利历史是值得的。当然，未来才是真正重要的。
We note that hedge funds don't have a meaningful investment in Hua Hong Semiconductor. Shanghai Hua Hong International Inc. is currently the company's largest shareholder with 20% of shares outstanding. The second and third largest shareholders are Huaxin Investment Management Co., Ltd. and Shanghai Alliance Investment Ltd., with an equal amount of shares to their name at 11%.
我们注意到对华虹半导体的对冲基金没有进行有意义的投资。 上海华虹国际公司目前是公司的最大股东，持有20%的流通股。 第二和第三大股东分别是华信投资管理有限公司和上海联盟投资有限公司，持股比例均为11%。
Our research also brought to light the fact that roughly 52% of the company is controlled by the top 4 shareholders suggesting that these owners wield significant influence on the business.
我们的研究还揭示了一个事实，即公司约52%的股份由前四大股东控制，这表明这些股东在业务上具有重要影响力。
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
研究机构持股情况可以为您的研究增值，研究分析师的建议也是一个好习惯，有助于深入了解股票的预期表现。目前有合理数量的分析师覆盖该股票，因此了解他们对未来的整体看法可能会有所帮助。
Insider Ownership Of Hua Hong Semiconductor
华虹半导体的内部持股情况
The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
不同国家对内幕人的定义可能略有不同，但董事会成员始终算作内幕人。公司的管理层向董事会负责，而董事会应代表股东的利益。值得注意的是，有时高层管理人员也在董事会中。
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
当内幕所有权表明领导者像真正的公司所有者那样思考时，这是积极的。然而，高内幕所有权也可能赋予公司内部小集团巨大的权力。在某些情况下，这可能是负面的。
Our information suggests that Hua Hong Semiconductor Limited insiders own under 1% of the company. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. It is a pretty big company, so it would be possible for board members to own a meaningful interest in the company, without owning much of a proportional interest. In this case, they own around HK$1.5m worth of shares (at current prices). It is good to see board members owning shares, but it might be worth checking if those insiders have been buying.
我们的信息显示，华虹半导体有限公司的内幕人持有公司不到1%的股份。然而，我们注意到，内幕人可能通过私人公司或其他企业结构间接持有股份。这是一家相当大的公司，因此董事会成员可能在公司拥有有意义的股份，而不必拥有相对较多的股份。在这种情况下，他们大约持有价值150万港元的股份（按目前价格计算）。看到董事会成员持有股份是好事，但值得检查这些内幕人是否有在买入。
General Public Ownership
公众持股
The general public, who are usually individual investors, hold a 28% stake in Hua Hong Semiconductor. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
公众，通常是个别投资者，持有华虹半导体28%的股份。这种规模的所有权虽然可观，但如果决策与其他大型股东不一致，可能不足以改变公司的政策。
Private Equity Ownership
股权投资公司持有8.8%的股份，有能力参与塑造以价值创造为重点的公司策略。一些投资者可能会因此而受到鼓舞，因为股权投资公司有时可以鼓励市场看到公司的价值，从而采取有益的策略。另外，那些持有者可能在将其上市后退出投资。
Private equity firms hold a 42% stake in Hua Hong Semiconductor. This suggests they can be influential in key policy decisions. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public.
股权投资公司持有华虹半导体42%的股份。这表明他们可以在关键政策决策中产生影响。一些投资者可能会因此受到鼓励，因为股权投资公司有时能够推动策略，帮助市场认识到公司的价值。另一方面，那些持有者可能在公司上市后退出投资。
Private Company Ownership
私有公司所有权
Our data indicates that Private Companies hold 11%, of the company's shares. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.
我们的数据表明私有公司持有该公司11%的股份。仅凭这一事实很难得出任何结论，因此值得调查一下这些私有公司的所有者。 有时候，内部人士或其他相关方通过一个独立的私营公司对一家上市公司的股份有兴趣。
Next Steps:
下一步：
While it is well worth considering the different groups that own a company, there are other factors that are even more important. Like risks, for instance. Every company has them, and we've spotted 3 warning signs for Hua Hong Semiconductor (of which 1 is a bit concerning!) you should know about.
虽然考虑拥有公司的不同集团非常重要，但还有其他因素更为关键。比如风险。每家公司都有风险，我们已经发现华虹半导体的3个警告信号（其中1个颇具让人担忧的因素！）你需要了解。
If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.
如果您想了解分析师对未来增长的预测，请不要错过这份关于分析师预测的免费报告。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注意：本文中的数字是根据过去十二个月的数据计算得出的，指的是截至财务报表日期的月份最后一天的12个月期间。这可能与完整年度的年报数字不一致。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对本文有反馈？对内容有疑虑？请直接与我们联系。或者，发送电子邮件至 editorial-team (at) simplywallst.com。
这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议，也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。
