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In the A-share market, large blue chips, white horse stocks and core assets are favored by investors. They have strong brands and stable performance, and are focused by institutions. Driven by funds, this kind of stock market performs well, and this wind direction seems to be changing.
In recent years, A-Shares have shown an obvious structural market. The index seems calm, but the excess return of some sectors is considerable. According to the statistics of securities times · databao, before 2020, the performance of large cap stocks was relatively outstanding, but in 2021, the index of large cap stocks rose only 7.49%, and the small market value index rose three times more than the former, as high as 30.15%. At the beginning of 2022, the increase of small market value index is still stronger than that of large cap stock index.
institutional high proportion of small market shares
Small market value stocks performed so well in 2021. Through comparative analysis, it is found that small market value stocks are not only favored by institutions, but also have good performance.
According to the statistics of data treasure, compared with the changes of institutional positions (excluding general legal persons) and performance growth, the average position proportion of small market value stock institutions was close to 20% in 2020, the highest level in the past four years and close to that of large cap stock institutions. At the end of the third quarter of 2021, the average position proportion of small market value stock institutions was close to 40%, and the position proportion of large cap stocks decreased significantly in the same period.
From the perspective of growth, the average increase in net profit of small cap stocks was much lower than that of large cap stocks from 2017 to 2020, but increased steadily; In 2021, the third quarterly report exceeded the large cap stocks, and the average year-on-year increase of net profit exceeded 150%.
top 50 “small and beautiful” A shares are released
Small and beautiful is a typical example of financial stock selection, which represents blue chip stocks with small market value and emphasizes small market value and excellent operating ability of the company. According to a number of conditions, databao counts small market value companies with high fundamentals. The important screening conditions are as follows:
1. The leader of each subdivided industry; 2. The total market value ranges from 5 billion yuan to 21 billion yuan; 3. The return on net assets (ROE) exceeded 10% from 2017 to 2020, and the roe exceeded 5% in the third quarter of 2021; 4. The non net profit deducted from 2017-2020 and the third quarter of 2021 increased positively.
According to comprehensive multi-dimensional statistics, the top 50 “small and beautiful” A shares have been released, of which 60% are listed value shares of 10 billion. There are a large number of shares in chemical, pharmaceutical, biological and mechanical equipment industries, as well as science and technology stocks, such as Wuxi Chipown Micro-Electronics Limited(688508) , Shanghai Weaver Network Co.Ltd(603039) .
In terms of total market value, the total market value of nickel powder leader Jiangsu Boqian New Materials Stock Co.Ltd(605376) , liquor distribution leader Vats Liquor Chain Store Management Joint Stock Co.Ltd(300755) , and quartz material leader Hubei Feilihua Quartz Glass Co.Ltd(300395) exceeds 20 billion yuan; At the bottom is the high-end kitchen cabinet leader Goldenhome Living Co.Ltd(603180) , with a market value of less than 5.5 billion yuan.
According to the financial data of the third quarterly report of 2021, Guangdong Hybribio Biotech Co.Ltd(300639) , Shenzhen Breo Technology Co.Ltd(688793) and Wuxi Chipown Micro-Electronics Limited(688508) three stocks buckle non net profit growth rate of more than 100%, which are nucleic acid molecular diagnosis leader, intelligent portable massage chair leader and power chip leader respectively. More than 50% of individual stocks such as Vats Liquor Chain Store Management Joint Stock Co.Ltd(300755) , Xi’An Manareco New Materials Co.Ltd(688550) . In terms of investment return, Zhejiang Meida Industrial Co.Ltd(002677) , Guangdong Hybribio Biotech Co.Ltd(300639) , Marssenger Kitchenware Co.Ltd(300894) and other four stocks have a return on net assets of more than 20%, and Fibocom Wireless Inc(300638) and other stocks have a return on net assets of more than 15%.
northbound capital plus 18 shares
In terms of valuation, the latest rolling P / E ratio of the top 50 “small and beautiful” is 37 times, 17 shares are less than 30 times, Grandblue Environment Co.Ltd(600323) , Guangdong Hybribio Biotech Co.Ltd(300639) have the lowest valuation, and the rolling P / E ratio is less than 15 times. Ceramic tile faucet Monalisa Group Co.Ltd(002918) , integrated stove faucet Zhejiang Meida Industrial Co.Ltd(002677) , Furniture Customization faucet Zbom Home Collection Co.Ltd(603801) are less than 20 times. Some stocks have relatively high valuations, Xi’An Sinofuse Electric Co.Ltd(301031) , Shanghai Titan Scientific Co.Ltd(688133) more than 100 times, and Hebei Sinopack Electronic Technology Co.Ltd(003031) , Jiangsu Boqian New Materials Stock Co.Ltd(605376) more than 70 times.
According to the statistics of data treasure, 18 shares in the list have been increased by going north since the beginning of the year, and 9 stock institutions predict that the net profit will increase by more than 30% in 2021.
Among them, Jiangsu Guomao Reducer Co.Ltd(603915) and Sichuan Jiuyuan Yinhai Software Co.Ltd(002777) increased positions by 0.7 percentage points and 0.41 percentage points respectively since the beginning of the year. Individual stock institutions such as Jiangsu Boqian New Materials Stock Co.Ltd(605376) , Hubei Feilihua Quartz Glass Co.Ltd(300395) , Marssenger Kitchenware Co.Ltd(300894) predict that the net profit will increase by more than 50% in 2021, of which Jiangsu Boqian New Materials Stock Co.Ltd(605376) is close to 65%.
21 stocks have more room to rise than 30%
The agency predicts that there is more room for the stock price of the “small and beautiful” top 50 to rise. According to data treasure statistics, except that Gch Technology Co.Ltd(688625) as a secondary new share failed to obtain the target price predicted by the institution, 48 stocks have different degrees of predicted rising space, of which 21 stocks have more than 30% rising space. Strain sensor faucet Keli Sensing Technology (Ningbo) Co.Ltd(603662) has a rising space of more than 100%, and 7 stocks such as Wuxi Chipown Micro-Electronics Limited(688508) , Shanghai Titan Scientific Co.Ltd(688133) , Shanghai Microport Endovascular Medtech (Group) Co.Ltd(688016) have a rising space of more than 50%.
