Recently, the U.S. Securities and Exchange Commission disclosed that as of the end of June, Softbank group of Japan held 26 U.S. stocks, with a total market value of 3.9 billion US dollars. According to the relevant analysis, Softbank has encountered unprecedented headwinds in the primary market in recent years, so its involvement in the booming US technology stocks is for the purpose of open source and “avoiding risks” in the secondary market. < p > < p > on August 17 local time, the US Securities and Exchange Commission (SEC) disclosed that as of the end of June, Softbank group of Japan held 26 U.S. stocks, with a total market value of 3.9 billion U.S. stocks, which can be described as “hot money” technology stocks, including the shadow of China capital stocks. < / P > < p > specifically, in addition to the shares of T-Mobile, the third largest mobile communication operator in the United States, the top five heavy positions are Amazon, alphabet, adobe, Netflix and Microsoft, with stock values of US $1.05 billion, US $470 million, US $250 million, US $190 million and US $180 million respectively. < / P > < p > in addition to these popular U.S. technology stocks, Softbank’s positions include NVIDIA, Tesla, Shopify, paypal and zoom, among which there are two Chinese concept stocks, tal and iqiyi respectively, but their positions are relatively small. In fact, sun Zhengyi, chairman and President of Softbank group of Japan, disclosed the news of entering the secondary market at the quarterly report explanation meeting held on August 11. He said at that time that Softbank had established an asset management company to invest in the stocks of listed companies, and Softbank owned 67% of the shares of the company, which was mainly aimed at diversified investment. The company’s capital size is about 555 million U.S. dollars, has purchased shares of five major U.S. technology companies. According to the SEC disclosure, Softbank’s actual stock investment is far more than the 555 million US dollars previously disclosed by sun Zhengyi. There are also media reports that Softbank’s target investment scale is more than 10 billion US dollars. According to the relevant analysis, Softbank has encountered unprecedented headwinds in the primary market in recent years, so its involvement in the booming US technology stocks is for the purpose of open source and “avoiding risks” in the secondary market. On August 11, Softbank group turned over a quarterly report with a turnover style, which turned the loss of more than 100 billion yen in the first quarter to a net profit of 1.2557 trillion yen in the second quarter, which surprised the outside world. Why can we achieve such a fast turnover? < / P > < p > the reason lies in the implementation of the “Crazy” liquidation plan of y4.5 trillion under the heavy debt burden, and the valuation rebound of the invested companies in its vision fund. Softbank recorded a profit of 421.9 billion yen in the second quarter through the partial sale of T-Mobile shares; the vision fund reversed, with a profit of 299.6 billion yen from April to June, and a loss of more than 100 billion yen in the previous quarter, due to the rebound in the stock price of the invested companies in the portfolio and the listing of some companies. < / P > < p > first, the vision fund broke out “shocking thunder”, then the outbreak of the new crown epidemic accelerated the crisis, leading Softbank to hand over the worst report card since its establishment this year. In fiscal year 2019, Softbank’s investment fund lost 1.9 trillion yen as a whole, and the loss was mainly caused by the successive losses of investment. < / P > < p > a setback is the investment in Wework, an American shared office company. In fiscal year 2019, the write down of Wework investment resulted in a loss of $4.582 billion. In December 2019, the valuation of Wework was $7.3 billion, and by the end of March, it had shrunk to $2.9 billion. Uber, an online car Hailing company, suffered a loss of $5.179 billion, mainly due to the shrinking market value. < p > < p > from the first ten days of February to the last ten days of March, Softbank’s share price was almost cut off. In the face of unprecedented difficulties, Softbank launched self rescue. On March 13, it announced its first repurchase plan, with a scale of 500 billion yen, but it failed to stop the decline. On March 23, Softbank disclosed the 4.5 trillion yen (about US $41 billion) financing plan mentioned above. Of this, 2 trillion yen (about 18 billion US dollars) will be used to buy back shares, and the rest will be used to repay debts, buy corporate bonds and increase deposits, which is expected to be completed in the next four quarters. The stock price finally stopped falling. < / P > < p > at present, 95% of the fund-raising plan of 4.5 trillion yen has been completed. One is to obtain 2.4 trillion yen by selling some shares of T-Mobile, the other is to raise 1.6 trillion yen by selling Alibaba stock option contract, and 300 billion yen by selling its telecom subsidiary. Softbank’s asset sale plan may not be over yet. Softbank has been rumored to sell arm, a chip design company, for some time in the past. In response to this, sun Zhengyi said on August 11 that many options were being considered for the future of arm, including listing, partial sale, full sale and merger, but did not disclose relevant details such as potential counterparties and amount of money.