Author | Wu Danlu Sun Jiannan Editor | Yuan Chang

In the world of public and private equity funds, if there can only be one "king" - that is Wang Yawei.

This man, who was once a "god-like" man in the public offering industry, created a cumulative performance of 1195.25% for six and a half years during his tenure as the manager of China's large-cap fund, with an average annual compound return of 50%.

From January 2006 to May 2012, Wang Yawei ranked among the top three in the industry for at least four years, including being first in the industry for two years. This is a performance record that no one has been able to overturn so far.

01 Bucked the trend and entered sub-new stocks

According to Changhong Hi-Tech’s annual report, the Qianhe Capital Yunjin No. 2 private equity fund launched by Wang Yawei became the company’s new entrant in the fourth quarter. Major shareholder.

Yunjin No. 2 Fund held 500,000 shares of the company at the end of last year, with a market value of about 14 million yuan. It was the fourth largest shareholder and the only institutional shareholder among the top ten shareholders.

This is the only newly opened stock exposed by Wang Yawei recently, and it is also the first public shareholding information after Yunjin 2 was established in 2018.

During the public offering period, Wang Yawei's performance significantly exceeded the industry average, and his heavy holdings were also far away from the mainstream industry. He stood out in the industry with an attitude of "not competing on the same level as others" Walk alone. Today's Changhong Hi-Tech is also a stock that other professional institutions have almost no involvement in.

In addition, it is worth noting that Changhong Hi-Tech was the second new stock listed on the Shanghai Stock Exchange last year.

02 The "Peak" of Public Fundraising

In 2012, Wang Yawei left China Asset Management and formally founded Qianhe Capital, which became the most sensational event in public funds that year.

This is of course because of Wang Yawei’s peak performance that cannot be repeated so far.

Wang Yawei was the top scorer in the college entrance examination in his early years, and later studied at Tsinghua University. After graduating with a double degree, he joined an investment company under CITIC. In 1995, "smart man" Wang Yawei became the manager (person in charge) of the investment research department of China Securities Dongsi Business Department, and later participated in the establishment of China Asset Management.

Beginning in 2006, Wang Yawei began his miraculous public investment performance career after returning from overseas studies.

From the end of December 2005 to May 2012, the China Large Cap Fund managed by Wang Yawei created a return of nearly 12 times.

There was a saying at the time that as long as Wang Yawei was around, there would be no suspense about the champion of public funds, and the rest of his peers would compete for "second place in the industry."

Wang Yawei's departure, and Since then, a chain reaction of senior executives has left, which has also caused the status of China Asset Management, which was once the "equity investment highland", to plummet.

Today, China Asset Management is famous for its index products. It has long since been unparalleled in the world. It is no longer the same. I wonder if Wang Yawei had expected this result when he left.

03 The "spotlight" that cannot be escaped

After Wang Yawei founded the private equity institution, he deliberately kept a low profile. He hardly speaks out in the market. Except for speaking out to support the value of A-share investment during the abnormal fluctuations in the stock market in 2015, he has no public views. Take his first private equity product, Foreign Trade Trust-Yunfeng, as an example. Among the top ten shareholders of listed companies, he continued his style during the public offering period: capital operation of the company's major shareholder and partial state-owned background.

Wang Yawei has made extensive announcements about industry choices, including energy, media, transportation, and manufacturing. industries, medicine, beverages, etc. He has a preference for listed companies with asset reorganization. The assets of such companies usually change, the main business switches, and the actual controllers will also change.

As of now, Wang Yawei’s first one is. The net worth of the private equity fund Foreign Trade Trust-Yunfeng was only updated to August 2020 on the third-party platform. The annualized return since December 2012 was 11.08%. In addition, the net worth of Wang Yawei’s Zijing No. 2 was disclosed as of March 31 this year. The return during the year is -6.03%, and the return in 2020 is 24.3%

04 The next "Sanju Environmental Protection"

Since Wang Yawei's "private pursuit", this is the stock he has held the most for the longest time. Sanju Environmental Protection is a listed company that produces environmentally friendly materials. It mainly provides products, technologies and services for product cleaning, product quality improvement and production process cleaning in the basic energy industry, involving the fossil energy industry, green energy and other conceptual sectors.

Coincidentally, both Sanju Environmental Protection and Changhong High-tech are environmentally friendly materials companies.

Although "Yi Ge" has a long-term relationship with Sanju Environmental Protection and has held it for seven years, but The final ending is somewhat "tragic".