Beijing stock exchange has been open for more than three weeks, and institutions are actively exploring relevant investment targets.
According to the statistics of the securities times, since the opening of the Beijing stock exchange, 22 companies have been investigated by institutional investors, and many enterprises such as Tonghui electronics, Zhixin electronics and jingsai technology have been investigated by institutions twice.
It is worth noting that before that, most of the institutions listed on the North exchange were selected as small and medium sized institutions. After the announcement of the establishment of the North exchange, the enthusiasm of institutional research was improved significantly.
Market analysts pointed out that the Beijing stock exchange focuses on innovative R & D small and medium-sized enterprises represented by specialization and innovation, which contains large investment opportunities. However, the enterprises of the Beijing stock exchange have the characteristics of “smaller, earlier and newer”, which makes the investment of the Beijing stock exchange more difficult, which needs to test the professional investment and research ability of institutional investors, The research can further deepen the understanding of the company to a certain extent.
6 companies were investigated twice by institutions
The value of listed companies on the Beijing stock exchange is gradually being mined by more and more institutional investors.
Since the opening of the market on November 15, 22 companies listed on the Beijing stock exchange have successively accepted the investigation of institutional investors, among which 6 companies such as Tonghui electronics, Zhixin electronics, jingsai technology, Xingchen technology, Haomiao technology and Xujie technology have issued the investigation announcement of receiving institutional investors twice.
The reporter of the securities times observed that with the opening of the Beijing stock exchange, the listed companies of the Beijing stock exchange have attracted more and more institutional attention. Before the opening of the market, few companies listed on the Beijing stock exchange were investigated by institutions. After the opening of the market, the frequency of investigation of listed companies on the Beijing stock exchange increased significantly, and more and more institutions participated in the investigation.
On November 29, Jinhao medical released an institutional research announcement. In one day on November 26, the company accepted the research of 36 institutions, setting a record of the largest number of research institutions received by the company in a single day. Among them, there are many top public offerings such as huitianfu fund, GF fund, Huaxia Fund, Nanfang fund and Harvest Fund, as well as China Merchants Securities Co.Ltd(600999) , China International Capital Corporation Limited(601995) , Guotai Junan Securities Co.Ltd(601211) and other head securities companies.
In terms of the total number of institutions investigated, Tonghui electronics is the most concerned by institutions. Since the opening of the Beijing stock exchange, it has been investigated twice by institutions, and a total of 47 institutions have participated in the investigation. Among them, the institutional research data disclosed on November 17 showed that 17 institutions participated in the research, while the data disclosed on November 30 showed that the number of institutional research suddenly rose to 30.
In addition, the number of institutional investigations disclosed by many companies such as Zhixin electronics, Chuangyuan instrument, jingsai technology, Fujida and Airong software is more than 10. These companies are mainly concentrated in the fields of new energy, new materials and information technology.
Shanxi Securities Co.Ltd(002500) the research points out that focusing on innovative R & D small and medium-sized enterprises represented by specialized and special innovation, from the perspective of valuation, the valuation of Beijing stock exchange and innovation layer is far lower than that of science and innovation board and gem, with large premium space. However, due to the characteristics of “smaller, earlier and newer”, the investment of the Beijing stock exchange is more difficult. The professional investment and research ability and transaction maturity of institutional investors make it one of the effective ways for individual investors to invest in the Beijing stock exchange.
head securities companies and top public offerings actively participate in
The reporter of the securities times observed that after the opening of the Beijing stock exchange, the institutional research enthusiasm was significantly high, many head securities companies and top public offerings also joined the research army, and insurance asset management, trust private placement and bank financial management subsidiaries also participated in the research.
On November 29, according to the research data of Jinhao medical disclosure institution, the institutional research lineup is huge. The participating institutions include top public offerings such as huitianfu fund, Huaxia Fund and Guangfa fund, and head brokers such as China International Capital Corporation Limited(601995) , Shenwan Hongyuan Group Co.Ltd(000166) , Guotai Junan Securities Co.Ltd(601211) , China Merchants Securities Co.Ltd(600999) are also on the research list. In addition, there are PICC Property Insurance, AVIC trust and Hunan light salt venture capital.
The impact of the epidemic and the investment direction of fund-raising are the most concerned topics in this institutional research. Jinhao medical said that under the epidemic situation, the demand for hearing aids abroad has not changed significantly. What is affected is mainly the change of purchase mode, and some purchases have changed from offline to online. Most of the company’s downstream channels overseas are mainly online sales, which is conducive to the sales of the company’s products under the epidemic situation. Some overseas channels of the company, such as Wal Mart and CVs, have only opened some store cooperation. With the formal implementation of the OTC act, there is great room for improvement in future cooperation. The company has also been trying to dig into other overseas channels.
Jinhao medical said that the infrastructure construction of the raised investment project is expected to be completed by the end of 2022, and it is planned to gradually release the complete production capacity. At the same time, the company will carry out production capacity construction according to the future development plan and actual development situation to meet the development needs of the company. In terms of R & D, the company has completed the back-end design of the chip and obtained samples. It has signed a streaming service agreement with the chip foundry. The specific mass production delivery date needs to be determined according to the production schedule and capacity of the foundry.
The survey data disclosed by Tonghui electronics on November 30 also showed that the company welcomed a group survey of 30 institutions, including head brokers such as Shenwan Hongyuan Group Co.Ltd(000166) , Guotai Junan Securities Co.Ltd(601211) , Orient Securities Company Limited(600958) , top public offerings such as Harvest Fund, Tianhong fund and Xingzheng Global Fund, as well as private institutions such as Yanhang investment, Shanghai Fun Time Asset Management Co., Ltd. and Shanghai Tongyu investment management center, Bank of China wealth management, Huabao trust Taiping assets, Xinhua assets, etc.
Tonghui electronics said that as technology intensive enterprises, only in the R & D, design and production links have strong technical strength, in order to ensure the advanced, security, stability and reliability of the product. Technology research and development has always been the first driving force for the development of the company. After the company changes from a selected listed company to a listed company of the Beijing stock exchange, it will continue to standardize governance, improve the company’s popularity, further focus on the technological innovation of intelligent electronic measuring instruments, continuously improve the company’s business performance, and strive to become an international leading provider of comprehensive electronic measurement solutions with the help of the platform of the Beijing stock exchange.
brokerage tracking rating
On the one hand, there is hot research. On the other hand, the coverage of securities companies’ research reports on relevant enterprises of the Beijing stock exchange is also improving.
The Securities Times reporter found that many listed companies on the Beijing stock exchange, such as Liancheng CNC, beiteri and jingsai technology, have attracted the attention of more than two institutions since November.
Among them, Liancheng CNC has received the attention of securities companies such as Anxin securities, Huaxin securities, China Securities Co.Ltd(601066) and Caixin securities since November. According to Caixin securities, Liancheng CNC, as a leading supplier of photovoltaic and semiconductor equipment, with reference to the valuation level of similar companies, and taking into account the industry leadership of the company’s photovoltaic business and the growth space of semiconductor business, will give the company 40-44 times PE in 2022, with a corresponding reasonable valuation range of 114.4-125.8 yuan. It will be covered for the first time and will be rated as “prudent recommendation”.
As one of the world’s most important suppliers of positive and negative materials for lithium-ion batteries, beiteri has also been concerned by securities companies such as Anxin securities and Caixin securities since November. Caixin Securities believes that driven by the demand for new energy vehicles, energy storage and electric two wheeled vehicles and electric tool batteries, there is a huge downstream demand space for lithium-ion batteries. The company has a stable leading position and good growth. The company is given 46-50 times PE in 2022, corresponding to the stock price range of 183.5-199.5 yuan, and the company is given the rating of “prudent recommendation”.
In addition, many brokerage institutions directly give “buy” ratings and give in-depth support to listed enterprises on the Beijing stock exchange. According to the reporter of the securities times, Liancheng CNC, jingsai technology, Tongxiang technology, Jilin Carbon Valley, Fujida, yunchuang data, Jinhao medical and other enterprises of the Beijing stock exchange were recommended by securities companies to “buy”.
Citic Securities Company Limited(600030) believes that the Beijing stock exchange is the main position for service innovative small and medium-sized enterprises. At present, companies with a market value of less than 3 billion account for about 85%, and the industry distribution is mainly information technology service industry and manufacturing industry. The subscription of new shares is subject to the full payment system. The average issuance scale of new shares is about 220 million, the winning rate of class A is about 4.9%, and the first 11 new shares increased by about 150% on the first day of listing after the opening of the market. The first eight theme funds of the Beijing stock exchange were actively subscribed, and the investment strategy paid more attention to liquidity, growth, innovation ability and valuation level.
Galaxy Securities said that compared with other listed companies in other sectors, the market value of listed companies on the Beijing stock exchange is generally small and the valuation is relatively low, but some listed companies have good profitability and high growth. They plough deeply into the subdivision track and have good research value. Beijing stock exchange is positioned to serve innovative small and medium-sized enterprises and is the main battlefield specialized in special and new. It can pay more attention to “small and beautiful” companies in subdivided fields and grasp growth opportunities.
(Securities Times)
