On the evening of February 27, the popular new shares Sino Biological Inc(301047) and Henan Liliang Diamond Co.Ltd(301071) disclosed their first annual report after listing, and both companies launched a high transfer scheme. So far, listed companies in Shanghai and Shenzhen have opened the curtain of high transfer. The agency believes that companies with fast performance growth and higher than expected distribution plans are easy to be sought after by funds.
“10 transfer 10” into scarce goods
According to relevant regulations, only when the Shanghai and Shenzhen main board and the science and Innovation Board send more than 5, and the gem send more than 10 is called high transfer.
Accordingly, Henan Liliang Diamond Co.Ltd(301071) is the first high transfer gem company that complies with the “10 for 10” stipulated by the exchange. It was proposed by Shao Zengming, the actual controller and controlling shareholder, and approved by the board of directors.
The Shanghai and Shenzhen Stock Exchange has formulated the “guidelines on information disclosure of high delivery and transfer of listed companies”. Since its implementation on November 23, 2018, due to the strict financial conditions that need to meet the high delivery and transfer, the “10 delivery and transfer of 10” and above has become increasingly scarce. According to the statistics of the reporter of Shanghai Securities News, after the introduction of the regulations on high transfer of A-Shares in Shanghai and Shenzhen in 2018, the number of companies with “10 transfer” and above dropped sharply from 172 in 2016 to 3 in 2018, and the high transfer in the following two years was in single digits.
15 100 yuan gem shares meet the financial conditions
Institutions believe that high transfer companies often have high growth, and high transfer behavior also reflects the company’s attention to the stock price of the secondary market, which is the release of positive signals. At the same time, in recent years, there are relatively few stocks that have launched high transfer, and those companies with faster performance growth and higher than expected distribution plans are easy to be sought after by funds.
The author selects according to the following conditions:
\u3000\u30001. The latest share price exceeds 100 yuan;
\u3000\u30002. The accumulation fund per share exceeds 2 yuan;
\u3000\u30003. The undistributed profit per share is more than 2 yuan;
\u3000\u30004. The performance increased significantly year-on-year.
Statistics show that a total of 20 listed companies meet the above conditions.
From the perspective of the “guidelines on information disclosure of high transfer of listed companies”, the gem “10 transfer 10” needs to meet three conditions:
(1) the net profit in the same period of the last two years shall continue to grow, and the transfer ratio per share shall not be higher than the compound growth rate of the net profit of the listed company in the same period of the last two years.
(2) if the listed company’s implementation of refinancing, merger and reorganization during the reporting period leads to significant changes in net assets, the transfer ratio per share may not be subject to the restrictions specified in the preceding paragraph, but shall not be higher than the growth rate of the listed company’s net assets at the end of the reporting period compared with the net assets at the beginning of the reporting period.
(3) if the net profit of the listed company has continued to grow in the last two years and the earnings per share in the last three years has not been less than 1 yuan, and the listed company believes that it is necessary to put forward the high transfer scheme, the proportion of transfer per share may not be limited by the provisions of the preceding two paragraphs, but it shall fully disclose the main considerations and rationality of the high transfer scheme and reveal the risks to investors, And its earnings per share after transfer shall not be less than 0.5 yuan.
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The above data show that these 15 GEM stocks have the confidence and conditions of “10 transfer from 10” and above.
