Among the constituent stocks of the white horse stock index, several stocks belong to the constituent stocks of the Shanghai Stock Exchange 50 index, the Shanghai Shenzhen 300 index and the gem index, and their weights are not low.
From 2016 to 2020, except 2018, Baima stock index outperformed Shanghai stock index and Shanghai Shenzhen 300 index. In 2021, the white horse stock index fluctuated sideways and closed up slightly by 0.45% that year. Although it outperformed the Shanghai and Shenzhen 300 index, it lost the Shanghai stock index. Since 2022, the white horse stock index has suffered a sharp decline, with a cumulative decline of more than 18%, underperforming the Shanghai and Shenzhen 300 index and Shanghai stock index.
Baima shares have good fundamentals
White horse shares have obvious fundamental advantages. The latest P / E ratio of Baima stock index is less than 10 times, and the P / E ratios of Shanghai Shenzhen 300 index and Shanghai stock index are more than 12 times; In terms of price to book ratio, Baima stock index is still lower than Shanghai Shenzhen 300 index and Shanghai stock index.
In 2019 and 2020, the net profit growth of the constituent stocks of the white horse stock index exceeded that of the Shanghai and Shenzhen 300 index and Shanghai stock index in the same period. In 2021, the performance growth of Baima shares lagged behind, with the median increase in net profit of its constituent stocks (including the lower limit of advance notice) of 12.34%, and the median increase in net profit of constituent stocks of Shanghai Shenzhen 300 index and Shanghai Stock Exchange index exceeded 20%.
White horse stocks are relatively dominant in terms of investment return. The return on net assets (ROE) of Baima stock index in 2019 and 2020 exceeded the CSI 300 index and Shanghai stock index. The median roe of the constituent stocks of the white horse stock index, the CSI 300 index and the Shanghai stock index, which have released the 2021 annual report, is 12.81%, 12.18% and 10.3%, respectively.
white horse stock index constituent stocks
year general decline
Is the white horse stock adjusted in place Sinolink Securities Co.Ltd(600109) believes that at present, the market opportunities outweigh the risks. The prices of many oversold white horse stocks with good fundamentals have been lower than their intrinsic value, and oversold provides layout opportunities instead.
From the market performance, as of the latest closing, more than 80% of the 99 white horse stock index constituent stocks fell during the year, accounting for nearly 70% of the stocks with a decline of more than 10%. More than 20 stocks, including Lens Technology Co.Ltd(300433) , Zhejiang Dingli Machinery Co.Ltd(603338) , Yixintang Pharmaceutical Group Co.Ltd(002727) , fell by more than 30%. Since the beginning of last year, 22 stocks have fallen by more than 40%, accounting for more than 20%. Nine stocks, including Beijing Thunisoft Co.Ltd(300271) , Guangdong Xinbao Electrical Appliances Holdings Co.Ltd(002705) , Lens Technology Co.Ltd(300433) etc., have fallen by more than 50% since the beginning of last year.
There are 13 component stocks of the white horse stock index rising this year. Three bank stocks, including Industrial Bank Co.Ltd(601166) , Bank Of Communications Co.Ltd(601328) , Postal Savings Bank Of China Co.Ltd(601658) , are the only stocks with an increase of more than 10%. Most other rising stocks are also bank stocks, including China Citic Bank Corporation Limited(601998) , China Construction Bank Corporation(601939) , Agricultural Bank Of China Limited(601288) , Industrial And Commercial Bank Of China Limited(601398) , China Everbright Bank Company Limited Co.Ltd(601818) , etc.
mistakenly killed white horse stocks list released
Combined with the performance, the 16 white horse index constituent stocks fell by more than 10% this year, and the net profit growth in 2020 and 2021 (including the lower limit of pre increase) exceeded 10% at the same time. These 16 stocks are typical stocks with high fundamentals but may be killed by mistake Yixintang Pharmaceutical Group Co.Ltd(002727) this year saw the biggest decline, reaching 42% Guotai Junan Securities Co.Ltd(601211) decreased the least by 11.74%.
After the sharp decline of stock prices, the earnings ratio of 11 stock markets has been lower than 30 times, and the earnings ratio of Citic Securities Company Limited(600030) , China Merchants Securities Co.Ltd(600999) , Haitong Securities Company Limited(600837) , Guotai Junan Securities Co.Ltd(601211) and other stock markets has been lower than 20 times. From the perspective of agency rating, most of them belong to “buy” or “overweight” rating, of which Haitong Securities Company Limited(600837) , China Merchants Securities Co.Ltd(600999) and China Merchants Securities Co.Ltd(600999) are rated as “overweight +”.
From the perspective of future performance, the agency predicts that the net profit of these 16 shares will continue to grow this year and next, and the net profit of Beijing Oriental Yuhong Waterproof Technology Co.Ltd(002271) , Shenzhen Sunlord Electronics Co.Ltd(002138) , Yixintang Pharmaceutical Group Co.Ltd(002727) and Yixintang Pharmaceutical Group Co.Ltd(002727) are expected to increase by more than 20%.
Comparing the latest share price with the target price unanimously predicted by the institution, the potential rising space of 16 shares exceeds 25%, that of Jiangsu Hengli Hydraulic Co.Ltd(601100) , Shenzhen Sunlord Electronics Co.Ltd(002138) , Yixintang Pharmaceutical Group Co.Ltd(002727) and Nari Technology Co.Ltd(600406) , Wuliangye Yibin Co.Ltd(000858) , China Tourism Group Duty Free Corporation Limited(601888) exceeds 50%.
During the whole year, land shares increased their positions by Nari Technology Co.Ltd(600406) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Tsingtao Brewery Company Limited(600600) and Luzhou Laojiao Co.Ltd(000568) , Nari Technology Co.Ltd(600406) by 3.86 percentage points China International Capital Corporation Limited(601995) believes that the performance of Nari Technology Co.Ltd(600406) 2021 is in line with expectations and is optimistic about its long-term investment value under the upgrading of power grid. “Game Mao” G-Bits Network Technology(Xiamen)Co.Ltd(603444) paid 160 yuan per 10 shares in 2021, and the amount of dividend per share was comparable Kweichow Moutai Co.Ltd(600519) , Soochow Securities Co.Ltd(601555) believed that its long-term operation ability was continuously verified.
