The number of companies with impaired assets may reach a historical peak.
Contemporary Amperex Technology Co.Limited(300750) clarify rumors
the net inflow of institutional funds exceeded 500 million
On the morning of February 14, the performance of the three major A-share indexes was sluggish. As of the afternoon closing, the Shanghai index fell 0.63, the Shenzhen Component Index fell 0.54%, and the gem index fell slightly by 0.3%.
The gem index rose once in the session, which has an important relationship with the largest component stock Contemporary Amperex Technology Co.Limited(300750) . Last weekend, Contemporary Amperex Technology Co.Limited(300750) went on a hot search, and the company clarified the rumors. Recently, a series of malicious rumors such as Contemporary Amperex Technology Co.Limited(300750) being sanctioned by the United States, being excluded from the gem weight index and collapsing with Tesla appeared on the network platform, which caused misunderstanding and misinterpretation in the market and affected the corporate reputation. The rumors were groundless and bad in nature. Contemporary Amperex Technology Co.Limited(300750) the case was reported to the public security organ on February 12, and the rumor mongers will be investigated for legal responsibility according to law.
On the morning of February 14, Contemporary Amperex Technology Co.Limited(300750) rebounded domineering, and the latest closing price returned to 500 yuan. As of 11:30, the company’s share price rose 3.95% and its market value increased by more than 45 billion yuan compared with the previous day.
Driven by Contemporary Amperex Technology Co.Limited(300750) , the Contemporary Amperex Technology Co.Limited(300750) industrial chain outperformed the three major indexes in early trading today, and the market value of the sector increased by nearly 60 billion yuan. In addition to Contemporary Amperex Technology Co.Limited(300750) , Shenzhen Senior Technology Material Co.Ltd(300568) , Fujian Haiyuan Composites Technology Co.Ltd(002529) , Jiangmen Kanhoo Industry Co.Ltd(300340) rose by more than 1.5%. The “Ning portfolio” index also rose against the trend, with the total value of the stock market of 25 components increasing by more than 120 billion yuan, and nearly 70% of the rising stocks in the morning.
From the perspective of capital flow, the total net inflow of institutional funds from Contemporary Amperex Technology Co.Limited(300750) industrial chain in early trading was nearly 700 million yuan, of which Contemporary Amperex Technology Co.Limited(300750) received a net inflow of 540 million yuan, ranking fifth in the A-share market, and Naura Technology Group Co.Ltd(002371) received a net inflow of 157 million yuan. The component stocks of “Ning portfolio” received a total net inflow of nearly 1.3 billion yuan, and the net inflow scale of four shares exceeded 100 million yuan, including Contemporary Amperex Technology Co.Limited(300750) , Wuxi Apptec Co.Ltd(603259) , Naura Technology Group Co.Ltd(002371) , Byd Company Limited(002594) .
Shenzhen Center Power Tech.Co.Ltd(002733) is the second company to release performance forecast after the Spring Festival. The net profit of the company reached the upper limit of RMB 202700 million in the fourth quarter of 2017, of which the net profit of the company reached RMB 202400 million in the past quarter. Following the continuous decline on Thursday and Friday, the company only fell slightly in the early trading on February 14. In this regard, many investors believe that it is bad.
41 shares lost their net profits in the past five years in 2021
The reasons for the performance loss of listed companies are mainly divided into: the impact of the epidemic, changes in the upstream and downstream prices of the industry, provision for goodwill, asset impairment, etc. Some companies lost their net profits in the past five or 10 years in only one year or one quarter. according to the statistics of securities times · databao, 41 companies lost their net profits in the past five years in 2021 (including the lower limit of advance notice) (net profits are greater than 0).
According to the loss amount, Jiangxi Zhengbang Technology Co.Ltd(002157) , Sichuan Languang Development Co.Ltd(600466) , Kaile Science And Technology Co.Ltd.Hubei(600260) the highest loss in 2021 exceeded 8.5 billion yuan, of which Jiangxi Zhengbang Technology Co.Ltd(002157) the maximum loss was close to 20 billion yuan, the loss in the fourth quarter almost exceeded 12 billion yuan, and the daily loss exceeded 100 million yuan. The company lost all its net profit since listing in 92 days, The main reason is due to the reduction of pig market price and the impact of the epidemic situation.
Further, among the above 41 shares, 11 companies lost their net profits in the past ten years in 2021, mainly distributed in traditional industries, including Myhome Real Estate Development Group Co.Ltd(000667) , Yaguang Technology Group Company Limited(300123) , Shenzhen Wenke Landscape Co.Ltd(002775) . Specifically, Suzhou Kingswood Education Technology Co.Ltd(300192) the maximum loss in 2021 was 483 million yuan, and the total net profit of the company in the past ten years (2011-2020) was 458 million yuan; Myhome Real Estate Development Group Co.Ltd(000667) the maximum loss in 2021 was 3.6 billion yuan, and the net profit of the company in the past ten years was less than 2.7 billion yuan.
the number of companies with asset impairment may reach a historical peak
Among the above performance loss stocks, the most noteworthy is asset impairment. The peak of fixed growth and M & A in previous years has caused the phenomenon of overvaluation of asset value in Chinese enterprises. Now asset impairment is becoming more and more common in listed companies. Listed companies can exchange the losses in a certain year for lighter expenses in the next few years by centrally confirming the losses, so as to ensure the normal level of profits in subsequent years.
Statistics show that among the 2550 companies that have disclosed the performance forecast (accounting for 54% of all a shares), according to the analysis of the reasons for the change of performance forecast, there were 311 companies with provision or asset impairment in 2021, and the number reached the peak, including Cosco Shipping Energy Transportation Co.Ltd(600026) , Tus Environmental Science And Technology Development Co.Ltd(000826) , Jiangsu Zhongli Group Co.Ltd(002309) ; Among them, Cosco Shipping Energy Transportation Co.Ltd(600026) is one of the largest shipping companies in the Far East. During the reporting period, the provision for asset impairment was about 4.96 billion yuan, and the loss in the fourth quarter was 5.564 billion yuan, which lost the net profit of the past four years.
After the impairment of goodwill and assets, many people believe that the company’s share price is involved. In fact, this is not entirely the case. After some companies issued performance forecasts, the share price rebounded. For companies whose performance in 2017-2021 is affected by asset impairment, databao calculates the average rise and fall of one month after the release of performance forecast, and compares it with the market. According to the statistics of data treasure, the company with asset impairment obtained excess returns from 2018 to 2020; In 2021, the asset impairment company slightly underperformed the Shanghai stock index.
The performance loss of 14 shares is affected by asset impairment
Among the 41 stocks that lost their net profits in the past five years in 2021, databao analysis found that 14 companies were affected by asset impairment to varying degrees, including Suzhou Kingswood Education Technology Co.Ltd(300192) , Yaguang Technology Group Company Limited(300123) , Ningbo Joyson Electronic Corp(600699) .
Among them, Ningbo Joyson Electronic Corp(600699) , Myhome Real Estate Development Group Co.Ltd(000667) asset impairment loss is at the level of one billion yuan. According to the reasons for performance changes, the impact of Ningbo Joyson Electronic Corp(600699) impairment on the company’s net profit attributable to shareholders of Listed Companies in 2021 is 2-2.5 billion yuan, and Myhome Real Estate Development Group Co.Ltd(000667) is about 1 billion yuan.
From the perspective of market performance, the above-mentioned 14 shares have fallen by an average of 3.31% since the release of the performance forecast (as of February 11), and the Shanghai Composite Index has risen by an average of 0.95% in the same period. Among them, four stocks such as Shenzhen Fluence Technology Plc(300647) , Suzhou Shijia Science & Technology Inc(002796) , Myhome Real Estate Development Group Co.Ltd(000667) have risen, and the first two stocks have increased by more than 10%.
Yaguang Technology Group Company Limited(300123) the provision for impairment of goodwill is expected to be about 600-700 million yuan in 2021. The company is China’s leading provider of military electronics, microwave radar and intelligent boat system solutions. The stock has fallen by 2.34% since the release of the notice, but it has risen by more than 6% since February 8, and the northward capital has increased its position by 0.09 percentage points since the beginning of the year,
