The recent market performance of A-Shares makes many investors feel “banana green”. According to the reporter’s statistics, as of January 26, the Shanghai index fell 4.13% in the month. Referring to the same period last year, the Shanghai index rose 3.97% in the month.
Yang Delong, chief economist of Qianhai open source fund, told the Securities Daily that from the perspective of external factors, the global capital markets have fallen sharply recently; From the perspective of internal factors, the regional adjustment in the A-share market has not only had a certain impact on the confidence of investors, but also affected the enthusiasm of investors to do more.
It can be seen that in the A-share callback, many stocks with high-quality track and good performance are likely to be “killed by mistake”. As of January 26, 1251 A-share companies have disclosed the performance forecast of the 2021 annual report. Among them, 954 companies had good performance, accounting for 76.26%. The net profits of 29 companies, including Sichuan Hebang Biotechnology Co.Ltd(603077) , Inner Mongoliayuan Xing Energy Company Limited(000683) , Guangdong Tonze Electric Co.Ltd(002759) , Beijing Haohua Energy Resource Co.Ltd(601101) , Jiangsu Yida Chemical Co.Ltd(300721) , Hengbao Co.Ltd(002104) , Chengxin Lithium Group Co.Ltd(002240) , are expected to increase by more than 1000% year-on-year.
Further combing, it is found that among the above 954 performance pre hi stocks, 132 stocks have the latest P / E ratio lower than the valuation of A-Shares (18.36 times), and show different degrees of correction in the month.
Among them, Zhejiang Wansheng Co.Ltd(603010) , Chengzhi Co.Ltd(000990) , Guangxi Yuegui Guangye Holdings Co.Ltd(000833) , property and environmental energy, Hubei Xingfa Chemicals Group Co.Ltd(600141) , Zhejiang Hailide New Material Co.Ltd(002206) , Guangdong Yizumi Precision Machinery Co.Ltd(300415) , Guangdong South New Media Co.Ltd(300770) , Sichuan Meifeng Chemical Industry Co.Ltd(000731) , Jiangsu Yuxing Film Technology Co.Ltd(300305) , Yuanli Chemical Group Co.Ltd(603217) and other 11 stocks have obvious adjustment ranges, with a cumulative decline of more than 15% in the month.
In terms of industry concentration, 132 stocks are mainly distributed in basic chemical industry and transportation, involving 37 and 11 stocks respectively.
According to Sinolink Securities Co.Ltd(600109) analyst Chen Yi, there are three points to pay attention to in the chemical field. First, the sinking of logic. Under the background of full expectation of mainstream tracks, the market may turn “more stones” in non mainstream tracks, especially those specialized in new materials; Second, the sinking of valuation, especially the hot subject of high valuation, has the possibility of reconstruction of valuation system; Third, the sinking of crowded tracks. The recent adjustment of popular track targets may be related to the chip structure and track congestion. The adjustment is more due to factors at the transaction level. In the direction, we are still optimistic about medium and small cap growth stocks, especially the subject of new materials.
“In terms of express delivery sector, the improvement trend of e-commerce express delivery price and performance is gradually clear. Policy dividend is the main line of current profit restoration, and the improvement of pattern opens medium and long-term space. It is suggested to pay attention to opportunities for significant profit improvement such as Yunda Holding Co.Ltd(002120) , Yto Express Group Co.Ltd(600233) .” According to the analysis of China Industrial Securities Co.Ltd(601377) analyst Zhang Xiaoyun, in terms of the airport sector, 2022 will be the starting point of the next aviation cycle. The upward risk of industry demand is greater than the downward risk, and the supply recovery time may be prolonged. Continue to recommend Spring Airlines Co.Ltd(601021) , Juneyao Airlines Co.Ltd(603885) , which have a low proportion of wide body aircraft and benefit the most from China’s consumption recovery, and pay attention to China Southern Airlines Company Limited(600029) , Air China Limited(601111) , China Eastern Airlines Corporation Limited(600115) and other performance inflection points.
Combined with the current market, Yang Delong believes that when the market confidence is low to a certain extent, it may usher in the opportunity of reversal. From the historical trend, every time high-quality leading stocks are wrongly killed, it is a good time to allocate high-quality leading stocks or high-quality leading funds. At present, the market has been greatly adjusted, and the trading volume continues to shrink. High quality leading stocks have gradually fallen out of value. The trend of the market after the festival does not need to be too pessimistic. At the same time, it has a certain rebound foundation
the figure shows a list of fundamentals of pre increased shares with partial performance. Prepared by: Xu Yiming
