These days, many big tickets in the first quarter are less than expected, which is similar to the health of the United States. SF was smashed into slag by a fierce hammer. Its logic and results are easy to understand. It's just that the so-called performance is not good, so it drops. However, some tickets that performed very well were also smashed, especially the chemical stocks headed by Wanhua Chemical. Many investors don't understand this. So, the market is full of all this? Exceeding expectations? The absurd remarks.
on the evening of April 13th, 221, China officially released its first-quarter results. In the first quarter, the revenue increased by 127.48%, and the net profit turned into a loss, achieving a net profit of 2.849 billion yuan. The performance of China International Monetary Fund's performance improvement is basically a phenomenon expected by the market, but for this performance, mainly due to the influence of the new tax exemption policy for offshore islands, China International Monetary Fund's tax exemption business in offshore islands has also shown a significant growth trend. If China's exemption is affected by the new tax exemption policy under special circumstances, then with the continuous opening of the world, China's free dividends exempted from outlying islands may be more or less affected by China's exemption. Some funds are there? Jump up? Behind the sell-off, in fact, related to factors such as unclear market expectations, some funds began to show obvious signs of differentiation.
on February 18, 221, although the market index did not drop much, it increased obviously last year for white horse stocks, but it became the focus of targeting in the past two months. However, from the obvious decline of white horse stocks, it is mainly concentrated in some white horse stocks whose early earnings have increased too fast or whose valuation is high. In the future, under the background of differences in the ability to continue to earn growth, the degree of differentiation of market funds will also be significantly intensified, and the market will begin to enter? Kill the valuation? Process. In addition to the poor performance of listed companies themselves, this may also be related to the concern that the global loose monetary policy is about to turn around. If the global loose money has not reached a substantial turning point, the overall monetary policy is in a relatively independent state for the domestic market. In the process of relative contraction of market liquidity premium, the squeezing speed of valuation premium will naturally accelerate for listed companies that enjoyed valuation premium in the early stage.
listed companies are leading enterprises in various industries, and even enjoy a certain voice and influence, which can be called? All kinds of Mao? . Anyway, these? Mao? The quality of the enterprise is not bad, but the short-term valuation premium is high, which increases the demand for a reasonable return of natural valuation. However, in the process of market decline, it is also a test? Really Mao? An important moment. In the process of reasonable regression of the valuation of various grasses, the key is to see whether the profit growth rate of enterprises can keep up in the future and whether the moat of enterprises is generous enough.