Since the second quarter, the Shanghai stock index has rebounded after the bottom and entered the bottom grinding period. During this period, securities companies accelerated the pace of research on A-share listed companies to prepare for mining high-quality assets.
Data show that since the second quarter, 987 listed companies in the A-share market have been investigated by securities companies, with a year-on-year increase of 26.54% compared with 780 companies investigated by securities companies in the same period last year. 394 listed companies received research from 10 or more securities companies, accounting for nearly 40%. Among them, Chacha Food Company Limited(002557) (55) and other 8 companies have been investigated by 55 or more securities companies.
“Most of the listed companies investigated by securities companies are representative enterprises of high-quality track. They have the common characteristics of high industry prosperity, fast performance growth of leading enterprises and high proportion of institutional positions.” “Based on the fundamentals of relevant industries and leading companies, we are optimistic about the investment opportunities of growth stocks,” Wang Chunxiu, manager of dongtuo investment fund, said in an interview with the reporter of Securities Daily
It is worth mentioning that among the 394 companies intensively investigated by securities companies, 206 companies have also received high attention from other institutional investors, all of which have been investigated by 100 or more institutions.
four characteristics reveal investment potential
After further combing the relevant data, the reporter found that the above 987 listed companies surveyed by securities companies mainly showed four characteristics.
First, the proportion of performance growth companies is high. In the first quarter of this year, 591 companies achieved year-on-year growth in net profit attributable to their parent companies, accounting for nearly 60%; In the first quarter of this year, the net profit attributable to the parent company of 123 companies doubled year-on-year.
Second, the stock price has been fully adjusted. Since the second quarter, 718 of the above 987 stocks have fallen, accounting for more than 70%. Among them, Shanghai Guao Electronic Technology Co.Ltd(300551) , Ningbo Menovo Pharmaceutical Co.Ltd(603538) , Northking Information Technology Co.Ltd(002987) , Shanxi Panlong Pharmaceutical Group Limited By Share Ltd(002864) , Hainan Poly Pharm.Co.Ltd(300630) and other five stocks fell by more than 37% during the period, with a large correction range.
Third, more than 100 enterprises are held by securities companies. Some blue chip stocks have been distributed by securities companies in the early stage. By the end of the first quarter of this year, among the above-mentioned companies, there were securities companies among the top 10 circulating shareholders of 111 companies, with a total shareholding of 762 million shares. Among them, Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Bank Of Qingdao Co.Ltd(002948) , Zhejiang Hailiang Co.Ltd(002203) , Inner Mongoliayuan Xing Energy Company Limited(000683) , Wuxi Rural Commercial Bank Co.Ltd(600908) , Zhejiang Dahua Technology Co.Ltd(002236) and other six companies hold more than 30 million shares.
Fourth, the proportion of stocks with good ratings from institutions is more. In the last month, 742 stocks were rated as “buy” or “overweight” by institutions, accounting for more than 70%. Among them, 336 stocks have received favorable ratings from institutions for 5 times or more, and 7 stocks, including Proya Cosmetics Co.Ltd(603605) , Yunnan Botanee Bio-Technology Group Co.Ltd(300957) , Mango Excellent Media Co.Ltd(300413) , Imeik Technology Development Co.Ltd(300896) , Oppein Home Group Inc(603833) , Luzhou Laojiao Co.Ltd(000568) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , have received favorable ratings for 30 times or more.
Qin Hong, senior analyst of jinbailin consulting, said in an interview with the reporter of Securities Daily that as a seller’s analysis organization, the focus of securities companies’ research is to see whether the company is compliant, whether it conforms to the industrial development direction and whether its performance has growth. The listed companies collectively surveyed by securities companies are probably high-quality enterprises, which have at least certain uniqueness in terms of industrial direction and performance growth potential. However, whether there are specific investment opportunities needs to consider whether the mainstream funds in the market recognize these targets.
Ma Cheng, chairman of juze investment, told reporters that from the situation of companies surveyed by securities companies in the second quarter, it reflects two preferences: first, there are more consumer stocks; Second, there are many growth stocks. After the early adjustment of consumer stocks, the valuation advantage is prominent. It is a very good time for securities companies to conduct intensive research at the current point and prepare for the future strategic layout. After a wave of “de foam” of growth stocks, the current valuation advantage is also prominent, and the future growth space is large and the growth is good. At present, it is also a good time for long-term investors to allocate in batches. The two tracks of consumption and growth not only have valuation advantages.
five industries won key research
According to the classification of shenwanyi industry, among the 987 companies surveyed by securities companies, stocks in five major industries such as medicine and biology, electronics, mechanical equipment, computer and power equipment account for more, reaching 122, 113, 103, 75 and 74 respectively.
Ma Cheng believes that the investment logic of the above-mentioned major industries is different. Among them, the investment logic of the pharmaceutical and biological industry is that affected by the centralized purchase of medicine, the share price of this sector has been fully corrected and the valuation advantage is prominent; At the same time, under the background of accelerating China’s entry into an aging society, the logic of the long-term improvement of the pharmaceutical and biological industry remains unchanged. The investment logic of the electronics industry is that in the past two years, due to better epidemic prevention and control, the export of the electronics industry has increased greatly and maintained a high outlook. The computer industry has benefited from the launch of the “counting East and counting West” project. The accelerated development of China’s big data industry will drive the growth of the performance of relevant companies in the computer industry. The power equipment industry mainly benefits from the support of policies. Whether it is short-term or long-term, the performance of relevant enterprises will be greatly improved.
Wang Chunxiu said that from the perspective of research direction, most of the industries that securities companies focus on are growth industries. Since the end of last year, growth stocks, especially institutional heavy position stocks and track stocks, have been significantly adjusted, and many share prices have even been “halved”. In terms of the time and extent of the adjustment, this round of adjustment has been very sufficient. With the gradual improvement of the epidemic and institutional investors gradually covering their positions, the investment value of growth stocks will gradually appear.
