St sector set off a limit tide.
Following the 20cm limit in the previous two trading days, Jiangsu Dewei Advanced Materials Co.Ltd(300325) , ST Zhongqian, Julong Co.Ltd(300202) and other stocks opened again this morning. As of midday closing, Jiangsu Dewei Advanced Materials Co.Ltd(300325) , ST Zhongqian, Julong Co.Ltd(300202) and other stocks still fell by 20cm. On the news surface, Jiangsu Dewei Advanced Materials Co.Ltd(300325) and Julong Co.Ltd(300202) have repeatedly issued risk warning announcements that the listing of shares may be terminated, ST Zhongqian is wearing stars and hats a few days ago.
The st sector, which performed well last year, returned to its original shape this year. The sector index fell by more than 23% and more than 20 stocks fell by more than 50%. Not only ST shares, more than 400 stocks fell by more than 50% during the year the valuations of the two sci-tech innovation indexes are close to historical lows. Can the rebound of growth stocks come as scheduled
ST shares set off a trend of limit decline
Since April, the st sector has set off a limit wave. According to the statistics of securities times and databao, since 4 months, more than 20 st stocks have had more than 7 limit declines among them, Xishui Strong Year Co.Ltd Inner Mongolia(600291) has seen 14 price limits and 12 consecutive one word limit (including early trading). The company has also repeatedly issued risk warning announcements that its shares may be delisted. In addition, Ningbo Sunlight Electrical Appliance Co.Ltd(002473) , Cred Holding Co.Ltd(600890) , Zhongxing Tianheng Energy Technology (Beijing)Co.Ltd(600856) , Easy Visible Supply Chain Management Co.Ltd(600093) , Hubei Wuchangyu Co.Ltd(600275) and other stocks have had more than 10 limit sectors since April.
Analysts pointed out that April has always been a month of sharp decline in the st sector. The main reason is that April is the peak of annual report disclosure. After the performance disclosure of many stocks, they wear stars and hats, or sit down and withdraw from the market, resulting in a sharp decline in share prices. Among the above-mentioned stocks, Ningbo Sunlight Electrical Appliance Co.Ltd(002473) , Cred Holding Co.Ltd(600890) and other stocks have also issued risk warning announcements that the listing of stocks may be terminated for many times.
more than 400 shares fell by more than 50%
On the one hand, the sharp decline of St sector has its own performance factors. On the other hand, the bad trend has also exacerbated market fluctuations. As of the closing on April 26, the Shanghai index had fallen by more than 21% and the gem index had fallen by more than 35%.
The adjustment range of individual stocks is also large. According to the statistics of data treasure, as of the closing on April 26, more than 400 stocks had fallen by more than 50%, and nearly 2000 stocks had fallen by 30% to 50%. In terms of specific stocks, Netposa Technologies Ltd(300367) , delisted Zhongxin, Arctech Solar Holding Co.Ltd(688408) , delisted Xinyi, ST Zhongqian and other stocks all fell by more than 70%.
Some stocks with a decline of more than 50% have a market value of 100 billion. The total market value of Will Semiconductor Co.Ltd.Shanghai(603501) , Eve Energy Co.Ltd(300014) , Sungrow Power Supply Co.Ltd(300274) and other stocks exceeded 200 billion yuan at the end of last year, and the total market value of Sanan Optoelectronics Co.Ltd(600703) , Wingtech Technology Co.Ltd(600745) , Yonyou Network Technology Co.Ltd(600588) , Lens Technology Co.Ltd(300433) and other stocks exceeded 100 billion yuan at the end of last year. Individual stocks with a large decline in the market value of 100 billion shares include Sungrow Power Supply Co.Ltd(300274) , Lens Technology Co.Ltd(300433) and so on, with a cumulative decline of more than 60% during the year.
P / E ratio down to single digit growth stocks released
With the continuous adjustment of the market, the valuations of the two major science and technology innovation indexes also fell further. According to the data, as of the closing on April 26, the rolling P / E ratio of gem index was about 40 times, ranking below 20% of the historical quantile; The Kechuang 50 index has a rolling P / E ratio of about 35 times, ranking below the historical quantile of 2%. According to the predicted net profit of institutions this year, the forward-looking P / E ratios of the above two sci-tech innovation indexes are about 27 times. Overall, the valuations of the two sci-tech innovation indexes have entered a historic low.
Shanghai Securities believes that A-Shares are more likely to be at the bottom because the macro profit margin is at the bottom of the long cycle a-share valuation is in the boundary between bull and bear, and the valuation level and growth value ratio are at the median level of long cycle. Shanghai Securities also pointed out that the growth sector is at the bottom of a long cycle and will not be impacted by steady growth and style fluctuations in the long run.
In early trading today, the major indexes rebounded one after another after hitting a new low, and the gem index rose 1.76% at one time. Has the oversold rebound of growth stocks come?
Data treasure combed and found that according to the calculation of the median net profit in the first quarterly report or the forecast of the first quarterly report, the dynamic P / E ratio of 20 stocks in typical growth industries (power equipment, electronics, etc.) is less than 10 times, and the number of rating agencies is more than 3 Hubei Xingfa Chemicals Group Co.Ltd(600141) first quarter net profit increased by 379.35% year-on-year, and the dynamic P / E ratio was less than 5 times, which was the lowest in the list. The company has 17 agency ratings, and Wanlian Securities believes that the company’s entry into the new materials has opened up a new growth path Suzhou Ta&A Ultra Clean Technology Co.Ltd(300390) dynamic P / E ratio is also less than 5 times. Some stocks in the list rose sharply in early trading, Chengxin Lithium Group Co.Ltd(002240) limit, Sinomine Resource Group Co.Ltd(002738) soared by more than 8%. Whether such stocks can continue to rebound strongly in the future remains to be seen.
