The stock market continued to adjust in May, but many stocks still rose against the trend. Yesterday's statistics showed that nearly 50 stocks hit record highs and 27 stocks hit record highs. Next week, the stock market will enter June. With the gradual stabilization of the market, there will undoubtedly be more market opportunities. So, which investment opportunities are worthy of attention? The reporter collected the views of many institutions.
The first major sector is emerging industries.
With the gradual stabilization and warming of the market, the main funds in the market began to actively seek hot breakthroughs. Guangzhou Bandung believes that from the recent hot performance, strategic emerging industry stocks represented by biopharmaceuticals, new energy, new materials (including upstream resources), smart grid, Internet of Things, environmental protection and Growth Enterprise Market are obviously becoming active.
For sectors that may have opportunities in June, many brokers have reported emerging industries. According to jianghai securities's research report, this is the only way to develop new industries. China is in a period of economic transformation. Traditional industries with high energy consumption, high pollution and high emissions have failed to keep pace with the development of the times and have been replaced by clean and efficient emerging industries. On the other hand, the traditional export obstruction caused by the financial crisis, the social problems caused by over-reliance on real estate to promote economic growth, the disadvantages of over-reliance on external demand and the bottleneck of upstream resources have all prompted China to change its economic development mode. Under the current macroeconomic environment, the industry has also undergone profound reshuffle, which is more conducive to promoting economic restructuring and developing emerging industries. Emerging industries are optimistic about low-carbon new energy, smart grid and pharmaceutical and biological industries.
Guangzhou Bandung believes that in addition to the new energy industry, national strategic emerging industries such as new materials, electronic information, aerospace military industry, biological breeding and biopharmaceuticals all have broad market space, and the future industrial policy support will be strong, and related entrepreneurial enterprises will face opportunities for rapid growth. Therefore, from the perspective of strategic layout, investors should continue to pay attention to the potential opportunities of strategic emerging pillar industries encouraged and guided by national industrial policies.
Plate 2 broke the stock and brewed a new elevator.
In May, the market continued to adjust. However, the listed new shares can only sigh that they are ill-timed, and a large number of shares will be broken soon or even on the first day of listing. Breaking new shares means that the market is in a downturn, but when a large number of broken new shares appear, it often means opportunities. Analysts believe that among the new shares that were broken in June, there will be some opportunities for the new shares that were wrongly killed to have a callback, and investors can make gold from them.
The data shows that among the newly listed 147 stocks this year, as of yesterday's close, there are as many as 4 1 companies with closing prices discounted from the issue price, accounting for nearly 30% of the number of new shares listed. Among them, the closing discount rate of large-cap stocks Huatai Securities and China Chemical reached as high as 20%, while Aoke shares and Jinsheng shares even broke on the first day of listing. However, in this round of decline, mud and sand are mixed, and some good-quality stocks have also been killed by mistake, giving investors the opportunity to seek gold, including the opportunity to break stocks for gold.
Analysts said that there should be many opportunities for investors to seek gold in broken stocks. When selecting stocks, the degree of breaking stocks can be used as an important reference. From the perspective of short-term opportunities, the greater the decline, the greater the rebound of individual stocks and the faster the effect; In the medium and long term, if a company has a unique business model, good industrial prospects, special industrial status and pricing power, its growth is often better. Investors can grasp the investment opportunities from the following points: First, there are institutions and other major funds in the stock market, the turnover rate is high, the turnover rate is obvious; Second, emerging industries with good fundamentals or supported by national policies (such as new energy, new materials and environmental protection stocks). Third, stocks that have fallen sharply in the previous period, including those with large breaks, will rebound even more in the process of market rebound, and investors only need to wait patiently for the opportunity to rotate.
A shares in June: follow the policy orientation and focus on seven types of pre-increased shares.
Since April 16, the A-share market has plummeted by more than 700 points, and a considerable number of stocks have fallen by as much as 30% to 40%. In the market adjustment, mud and sand are mixed, and many mid-year reports are also doomed to pre-increase shares. In the future, with the prologue of pre-issuance of shares in China Daily, mainstream funds in the market may gradually seek gold for pre-issuance of shares in China Daily. Therefore, investors can grasp the investment opportunities of pre-increased shares in the interim report from the aspects of industry prosperity and institutional positions.
Market valuation: Compared with history, the valuation level is low.
Based on the closing price of 2 1 in May, 2065438, the price-to-book ratio of the whole A-share market (net assets come from the 2009 annual report, excluding listed companies with negative net assets) is 2.8 1, which is 26.60% of the historical price-to-book ratio, slightly higher than the historical price-to-book ratio of 2.77%. The price-earnings ratio (TTM) of the whole A-share market (excluding listed companies with negative net profit) is 18.59, which is the 13.30% quantile of historical price-earnings ratio, which is lower than the 25% quantile of historical price-earnings ratio of 22.99. Compared with the historical level, the current market valuation level is low.
Judging from the valuation of the five major A-share sectors, financial services, ferrous metals, real estate and mining are all at historically low valuations. In particular, the price-to-book ratio of financial services is 2.37, and the price-earnings ratio is 12.6 1, which is equivalent to the level before the market started at the end of 2006. Relatively speaking, the valuation of non-ferrous metals is high, but it is still within a reasonable range. On the whole, it is unlikely that low-value heavyweights will continue to plummet. Without the help of the weighting sector, the oversold market is expected to gradually "pick up".
Pre-increased interim report: looking for pre-increased shares in the interim report that was killed by mistake.
Since mid-April, the market has experienced a round of intermediate adjustment. However, it is worth noting that, although most of the stocks can't escape the fate of this round of plunge, there are still some stocks such as Desai, Denghai Seed Industry, Yuyue Medical, Haining Picheng, Invigorating Shares, Crystal Optoelectronics and Hanwang Technology that hit new highs. Although some of the above-mentioned stocks also have certain hype themes, the price theme around value is still clearly visible. We will use this as a starting point to find some stocks with good fundamentals and pre-increase in the interim report that were wrongly killed in this round of market depth adjustment. The underlying securities need to meet two indicators, namely, oversold for three consecutive quarters (from the fourth quarter of 2009 to the interim report of 20 10) and chain-on-chain growth. First of all, the company's growth for three consecutive quarters is guaranteed, which reflects the sustainability of performance growth to some extent. In the market where funds are tight and the market is weak, the sustained performance growth has certain countercyclicality. Secondly, with the deep adjustment of the market, the stock price of this kind of stock has dropped sharply, which makes the company more advantageous in dynamic valuation.
According to Wind's statistics, as of May 25th, 5 10 companies (excluding ST company) have released the second quarter performance forecast, and the net profit of 437 companies has increased to varying degrees, accounting for 85.69% of the announced forecast companies. Among them, the net profit growth of 87 companies is expected to exceed 100%. There are 15 1 companies with performance growth for three consecutive quarters. Among them, mechanical equipment is a company with a large growth for three consecutive quarters, and the performance of 22 companies has increased month on month; Followed by electronic components, 16 companies were shortlisted; Chemical industry and pharmaceutical biology tied for third place, and 13 companies each grew for three consecutive quarters. Relatively speaking, only 1 companies in the financial services industry have achieved sustained growth and their performance is bleak.
Electronic components: the darling of 20 10 structural adjustment
Similarly, electronic components, as a big company with three consecutive quarters of quarter-on-quarter growth, have received the greatest support from national policies. The economic performance of the electronic information industry in April announced by the Ministry of Industry and Information Technology shows that in the first four months of this year, the total export of China's electronic information industry reached US$ 654.38+0645 billion, up 36.3% year-on-year, up 3.2% over the same period in 2008, accounting for 37.7% of the country's foreign trade exports. In addition, from June to April this year, the total import and export of electronic information products reached US$ 285.4 billion, a year-on-year increase of more than 40%.
According to the data released by the Ministry of Industry and Information Technology, from June 5438 to April, the export value of electronic components was 21900 million US dollars, a year-on-year increase of 53.2%; The export of electronic materials was $654.38+0.6 billion, up 5.21%year-on-year; The export of electronic devices was US$ 654.38+0.86 billion, with a growth rate of 7.465.438+0%, ranking first in the export growth rate of all sub-industries. Therefore, Shiyida, Tongfu Microelectronics, Dazu Laser, Crystal Optoelectronics, Suzhou Gugong, South China University of Technology, Zhongke Sanhuan, Shunluo Electronics, business treasure, Jingyuan Electronics, etc. Both achieved three consecutive quarters of chain growth. Recently, with the mid-term adjustment of the broader market, the oversold stocks in this sector include Tongfu Microelectronics, Dazu Laser, Shentianma A, Shenseg, Fu Jeer Technology, Yi Sheng Technology, Yushun Electronics, Xinjialian, Qixi Holdings, Eastcom Peace, Guomai Technology and Guangdong Media. Among them, Tongfu Microelectronics, Dazu Laser, Huatian Technology and Shentianma A, which are expected to increase significantly in the interim report, have a pre-increase rate of more than 1.20%.
Machinery and equipment: regulate and control the price of affected real estate and seek repair.
In 2009, the profit of listed companies in the machinery sector increased by 1 1.62%, and the profit in the quarter of 20 10 increased by 51.1%. According to the expectations of listed companies in the interim report, machinery and equipment still maintain a strong recovery momentum. In fact, since 2009 1 quarter, there has been an obvious V-shaped reversal in the machinery industry with the domestic economic recovery. The driving force for the accelerated profit growth mainly comes from the recovery of demand and the steady improvement of the operating ability of listed companies. Construction machinery, whose performance rebounded strongly for three consecutive quarters, was dragged down by real estate in this round of market regulation. Star horse car, Xiagong, Liugong, Xugong Machinery and Gong Jing Science and Technology once fell by more than 25%. Among them, star horse car, Xugong Science and Technology and Gong Jing Science and Technology experienced the largest decline, about 35%, while the interim results of the three companies increased by 200%, 15 1% and 89.20% respectively. Comparatively speaking, the future development of electrical equipment is still relatively clear. The demand for smart grid and low-carbon equipment will continue to grow rapidly. Oversold stocks include Mindong, Founder Electric, Dongyuan Electric and Tuori New Energy. In addition, ZOJE, a textile and garment equipment with the theme of invisible futures, has been falling all the way since the introduction of stock index futures. Zoje, which is expected to increase by 233% in the interim report, needs price revision. Similarly, Shangfeng Hi-Tech, Tianqi, and Aerospace Science and Technology, which have a substantial pre-increase in performance, are less affected by macro-control in the short term and have certain advantages in valuation.
Pharmaceutical bio-agriculture: advance, attack, retreat and defense
The tightening of 20 10 funds, the intermittent regulation of real estate policies and the uncertainty of external markets make the securities market particularly complicated this year, and the accumulation of investment risks makes the pharmaceutical industry continue to be concerned by safe-haven funds. In addition, the national reform of the pharmaceutical industry will be introduced one after another. For example, the Specification for Centralized Bidding and Purchasing of Drugs in Medical Institutions has just been countersigned by six departments, and the document release date is approaching. As the specific implementation document of the Code, the Administrative Measures for Centralized Bidding and Purchasing of Drugs in Medical Institutions will also be released at the same time. With policy support and high growth, medical biology has truly achieved the goal of being able to attack and retreat in the market. However, it is worth noting that the continuous price increase has largely reflected the sector, and the grasp of investment opportunities should also pursue stocks with obvious pre-increase performance and relatively low dynamic valuation. The 13 pharmaceutical company, whose performance continues to grow, has a relatively large performance base in the first quarter, and the expected growth rate of the interim report is lower than that of electronic components. Xianghai Pharmaceutical, Xinlitai, Baiyunshan A, Yuyue Medical, Southwest Pharmaceutical, Neptune Bio, Hua En Pharmaceutical and Jingxin Pharmaceutical are expected to increase the interim report by more than 50%. Xianghai Pharmaceutical, Xinlitai and Yunshan A rose by more than 100%, but Xianghai Pharmaceutical and Baiyun Mountain A had a low base in the first quarter. There are few oversold stocks in the plate, and Southwest Pharmaceutical, Neptune Bio, Rheinland Bio and Ke Hua Bio have relatively large declines.
And some companies in agriculture, beverage and commerce, such as Ruzidao, Denghai Seed Fengle Seed, Chengde Lulu, Yanghe, Tongcheng Holdings and Sanquan Food, are also competing for pre-happiness.
Chemical industry: the historical low valuation price increase drives the price increase.
Judging from the price-earnings ratio of the chemical industry, its PE reached 17.86 times (calculated at the closing price of May 2 1), and its valuation was 25% lower than the historical valuation (22.68 times). The data shows that the chemical industry has become a valuation depression. Secondly, since the beginning of the year, the prices of raw materials have continued to rise, driving the prices of related products to rise. In terms of output, the year-on-year growth of industry output shows that with the arrival of peak season, demand is gradually picking up. In the chemical industry, the performance of 13 listed companies increased steadily for three consecutive quarters, and the performance growth of Zhongfeng spandex, Yantai spandex, Desai, Hongda New Materials, Batian, Huachang Chemical and Qinghai Gelatin all exceeded 150%. The oversold companies are huafeng spandex, Yantai spandex, Batian, Huachang Chemical, Xiake Environmental Protection and Novozin.
Seven major industries, such as new energy, rose ahead of schedule.
20 10 developing strategic emerging industries is an important strategic choice for China's long-term economic development. The speed and scale of emerging industries fundamentally determine China's position and overall competitiveness in the international market. From a longer perspective, the industries and stocks driven by the "new two-wheel" with stable performance and rising prosperity are the focus of the fund, mainly including infrastructure, high-speed rail and consumer industries in the beneficiary areas, as well as seven major industries supported by the state, such as new energy, energy conservation and environmental protection, electric vehicles, new materials, biological breeding, new medicine and information industry. On the whole, new energy, environmental protection and energy-saving companies Tianqi shares, Desai and so on.
Successful restructuring, rapid growth in company performance.
Reorganization has revived some companies whose main businesses were in trouble in the past. According to the forecast, both aerospace science and technology and star horse car will increase by more than 200% due to the reorganization. At the same time, some stocks with strong restructuring expectations, such as Southern Building Materials, Xiangyang Bearing, Wuhan Holding, Zhongshui Fishery and Yilipu Daily, also reported gains in advance. (Huatai Securities Chen Huiqin Xu Tianzhu)