After the volatile market in February, A-Shares ushered in a "good start" on the first trading day in March. The three major stock indexes rose across the board: the Shanghai Composite Index, the Shenzhen Composite Index and the gem index rose 0.77%, 0.24% and 0.16% respectively.
Does this mean the arrival of A-share spring market? What stocks are worth the layout? The reporter of Securities Daily combed the gold stock research report of 20 securities companies in March and found that a total of 173 stocks were recommended. In addition, electronics, power equipment, medicine, biology and other industries are favored by securities companies.
173 gold stocks highlight five highlights
As of March 1, 20 securities companies including China Securities Co.Ltd(601066) , Ping An Securities, Guosen Securities Co.Ltd(002736) etc. announced the list of gold stocks in March. Of the 173 gold stocks, 40 were recommended by 2 or more securities companies. Among them, Chow Tai Seng Jewellery Company Limited(002867) and Dawning Information Industry Co.Ltd(603019) were recommended by 4 securities companies and ranked first in the number of recommendations \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\thenumber of recommendations is 3.
Further sorting found that the above 173 gold stocks showed five highlights, worthy of investors' attention.
First, the performance is generally good.
According to the data, as of March 1, 39 of the above 173 companies disclosed the annual performance report or performance express in 2021, and 31 achieved a year-on-year increase in net profit, accounting for nearly 80%. Among them, Nuode Investment Co.Ltd(600110) , Ningbo Ronbay New Energy Technology Co.Ltd(688005) , Keda Industrial Group Co.Ltd(600499) and other 9 companies doubled their net profits year-on-year. In addition, 77 companies have disclosed the annual performance forecast for 2021, and 64 companies are expected to have good performance. Among them, 31 are expected to achieve a year-on-year increase in net profit of 100% or more.
Second, mainly small and medium-sized circulating market value shares.
Data show that among the above 173 companies, 118 have a circulation market value of less than 50 billion yuan, accounting for nearly 70%. Among them, 45 companies have a circulation market value of less than 10 billion yuan. In addition, six companies, including Shanghai Action Education Technology Co.Ltd(605098) , Pansoft Company Limitid(300996) , Zhejiang Walrus New Material Co.Ltd(003011) , Joy Kie Corporation Limited(300994) , Baicheng medicine, Yuanli Chemical Group Co.Ltd(603217) , have a circulation market value of less than 2 billion yuan.
Third, the safety margin of valuation is high.
As of March 1, the median of the latest dynamic P / E ratio of A-Shares was 29.26 times. Among the 173 stocks mentioned above, the latest dynamic P / E ratio of 71 stocks was lower than that level, accounting for more than 40%. Among them, Cosco Shipping Holdings Co.Ltd(601919) , Bank Of Nanjing Co.Ltd(601009) , Poly Developments And Holdings Group Co.Ltd(600048) and other 10 stocks are less than 10 times.
Fourth, increase capital positions in the north.
Up to now, 142 of the above 173 shares have been held by northbound funds, with a total of 12.954 billion shares. Among them, Beijing-Shanghai High Speed Railway Co.Ltd(601816) , China Energy Engineering Corporation Limited(601868) are the most sought after, with 138 million shares and 133 million shares increased by BEIXIANG capital respectively.
In this regard, Chen Li, chief economist of Chuancai securities and director of the Research Institute, said in an interview with the Securities Daily that China's economy has long-term growth momentum, continues to attract large net inflows of funds from the north, and the current valuation is relatively reasonable while the quality of gold stocks is excellent.
Hu Bo, manager of Rongzhi investment fund under private placement paipai.com, said that the recognition of gold shares by northbound funds shows that their quality is high and in line with the investment direction of the market.
Fifth, the stock price is stable.
Some institutions believe that gold stocks send a signal that the company has investment value to the market, or form a certain support for the company's share price. Among the above 173 stocks, 131 stocks rose in February, accounting for 75.72%. Among them, Yunnan Yuntianhua Co.Ltd(600096) performed well, with a cumulative increase of 53.69%; In addition, Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Hebei Sinopack Electronic Technology Co.Ltd(003031) , Yankuang energy, China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) and other four stocks also increased by more than 30%.
electronics and other three industries as key configuration
From the perspective of shenwanyi industry, the above 173 gold stocks are mainly concentrated in electronics, power equipment, medicine, biology and other industries, involving 16, 14 and 12 stocks respectively. The overall style is biased towards scientific and technological growth.
For the investment opportunities in the above three industries, Chen Li believes that after the early correction, the valuation of relevant sectors at this stage is relatively reasonable and has good allocation value. Specifically, in the electronics sector, with the continued strong demand for chips such as new energy vehicles, IDC and 5g, the semiconductor and upstream raw material industries will continue to benefit; In terms of power equipment, the cost of wind power photovoltaic will be continuously optimized, the commercial value will be continuously improved, and the related power equipment industry will maintain rapid growth; In terms of pharmaceutical biology, the overall valuation of the sector is currently in a relatively reasonable range. The pharmaceutical biology sector will continue to differentiate in 2022. It is suggested to pay attention to innovative drug synchronization enterprises with strong R & D ability and strong product competitiveness.
Hu Po believes that the electronics industry represents the high prosperity track, the pharmaceutical and biological industry belongs to the sector with rebound opportunities, and the power equipment industry belongs to the sector benefiting from steady growth. He is optimistic about the market of the sector in March, and the rebound is expected to continue before the two sessions.
Ma Cheng, chairman of juze investment, said that investment opportunities in the above industries should be treated differently. First, look at the electronics and power equipment industry. Among them, the investment logic of the electronic industry is that with the rapid increase of the penetration rate of new energy vehicles, it will further drive the high prosperity of the upstream industry; The power equipment industry has benefited from the implementation of China's "double carbon policy", which has driven the rapid development of wind energy and photovoltaic, and ushered in an opportunity period for green power and UHV. For the pharmaceutical sector, we should be cautious for the time being, mainly because the "centralized purchase of medicine" this year will further increase the depth and breadth, or affect the performance of the sector. It is suggested that investors wait for the policy to be clear before making relevant layout.
3 structural opportunities are expected to increase
Behind the choice of gold stocks is the divergence of China's major securities companies on investment opportunities in March. Optimism and caution are intertwined.
Optimists believe that the market performance in March will be better than that in February.
For example, Ping An Securities believes that although the A-share market will still be dominated by shocks, structural opportunities are expected to increase and the overall performance will be better than that in February. After March, with the release of economic data, the policy statements of the two sessions and the performance of listed companies, the market uncertainty gradually decreased.
China Securities Co.Ltd(601066) believes that in March, the short-term counterattack of the stock market continues, and the medium-term challenges remain. At present, the market is still in a favorable window period. With the approaching of the two sessions, the stable growth of the infrastructure chain has begun to be realized gradually. Subsequently, with the expected cooling of the Federal Reserve's interest rate hike in March and the decline of China's long-end treasury bond yield, the growth sector environment will be improved.
The cautious said that the end time of the market rebound may occur as early as early March. For example, Cinda securities proposed that from mid to late March to April, the company's annual report and industry high-frequency data will be published successively. If the performance trend is downward, the index trend will weaken, otherwise it will return to the bull market.
"Despite the gradual implementation of China's steady growth policy, the economy has not shown a significant improvement signal. Superimposed on the continuous fermentation of external risks, factors such as the rise of US bond interest rate, geopolitical tension and the correction of global risky assets still inhibit the sentiment of A-share investors." Galaxy Securities said in its research report.
In terms of configuration, growth stocks are favored by securities companies Zheshang Securities Co.Ltd(601878) in its research report, it puts forward the "three low" allocation strategy, that is, taking undervalued value, low stock price and low position as the anchor to tap stable growth and new growth. At present, the market characteristics of stock game may show a seesaw effect. Looking forward to March, portfolio allocation can be marginal equilibrium. Specifically, since the beginning of the year, steady growth and growth stocks have been significantly differentiated. In terms of growth stocks, in addition to the early oversold track stocks, we can actively explore new growth directions around the financial report, such as some sub fields of automotive electronics and semiconductors.
Soochow Securities Co.Ltd(601555) said that the correction of price logic and economic growth will bring interest rates back to a reasonable level, so we should pay attention to the investment opportunities of growth stocks.
China Securities Co.Ltd(601066) optimistic about the power semiconductor and photovoltaic sectors with high prosperity and CXO with expected marginal improvement. At the same time, it is suggested that investment focus on aluminum and crude oil chain benefiting from geopolitics, thermal power benefiting from downward coal prices, digital economy supported by policies, etc.
