Equation founder Vida: Plans to deploy roughly $20 million to buy the dip in A-shares, has already purchased Zhongji Innolight, CQQQ, and Tencent Holdings

Odaily: Equation founder Vida stated in a post on his personal channel last night that he plans to bottom-fish with a total budget of approximately $20 million and has begun buying related assets, including Zhongji Innolight, CQQQ, and Tencent Holdings (TCEHY).

Vida noted that some leveraged investors in the current A-share market are being forced to sell their holdings at low prices. He pointed out that the ChiNext Index has cumulatively fallen about 44% over the past four months this cycle, and that historically a similarly rapid decline occurred only once, in 2015, when the index fell about 55% over three months. He expects that a rapid rebound similar to what South Korean stock indices experienced from late July to mid-August may follow.

Vida also stated that if the ChiNext Index continues to fall 5% today, he plans to buy more than $10 million at that point.