Category: Money tips Release Date: 2006-08-13
Source: Wang Tian Guo Hai Securities
Black Tuesday the formation of giant yin decapitation guillotine, technically tend to have a huge mass destruction. But Wednesday by the State Administration of Taxation to clarify the capital gains tax, the source pointed out that the QFII quota from 10 billion U.S. dollars is expected to rise to 50 billion U.S. dollars and the Shanghai Stock Exchange listing and other interested parties to encourage the overall good news, and large slow the broader market Tuesday 900 stocks lower limit (ie close to 70% of the stock lower limit), the market value has shrunk 1 trillion single-day extreme atmosphere of terror. It is good to ease the effect, which makes the general lower limit of the individual stocks yesterday, there is no significant low-opened and a sharp drop, thus narrowing the market's decline. In addition, Ping An Insurance is expected to boost financial stocks listed on a strong rebound in the afternoon, is to bring about broad market rebound more substantial reason.
Overall, the current broader market risks remain large, the trend is only good Wednesday detente and Ping An Insurance is expected to stimulate the market. Law on a heavyweight to the listing date, its potential negative impact on the broader market than profitable (perhaps positive cash impact). If you watched yesterday's net worth of the fund, you would think, the fund a general decline in the net Tuesday about 8%, including a 9.447 percent decline in the Fund, the Christian Democrats choose the funds themselves out of consideration of risk tolerance, Just face the fund net fell sharply, the Christian Democrats think? Redemption pressure is self-evident, along with what the current tape is a kind of stage? Thus, simply, the current risk is still greater than the opportunity.
But with so much tape volume, short-term opportunities for individual stocks from time to time. In fact, since last year, especially the more intense this year, the overall listing of stocks the opportunity to become more prominent. Take a look at Neusoft shares (600,718), Shanghai Automotive (600104), hippocampus shares (000,572), Hudong Heavy Machinery (600.15 thousand), your flight shares (600,523) and the Hong Kong Group (600018), etc., there are currently Yuyan Yu Hot trend.
Corresponding policy is: the new year, SASAC once again pushing the huge central market determination of prices as a whole. Li Rongrong said that in 2007, the central enterprises to accelerate the shareholding system reform, the introduction of strategic investors and active conditions, the conditions of the central enterprises restructuring and listing the parent company as a whole or the main business listed as a whole; to encourage and support the overall market conditions do not have the central enterprises, to increase their investment through the acquisition of assets, etc., the main business assets of good step by step into the listed company, optimization and listed companies.
February 28 Shangzheng Bao article, "The SSE will vigorously promote the overall market," Geng Liang, chairman of the Shanghai Stock Exchange yesterday (27 days) the financial work conference held in Shanghai, said that SSE will take active measures to , to continue to merger and reorganization of listed companies to create a more favorable institutional and market environment, efforts to promote the pace of overall listing of domestic companies and help existing companies to do good, bigger, and stronger.
The rise of China is inseparable from the capital market, the overall market and the most excellent asset when the market is the general trend in the capital. Conceivable that there will be more high-quality enterprises listed as a whole. Listing of recent market hearsay evidence to find the overall themes, but ignored the good assets as a whole listing of some large iron nails of the listed companies turn a blind eye is called perspicacious who are not, but there is no salary Yu. In the last certificate in the 50 listed companies, Shanghai Airport (60009) is one of the few good assets, valuation of benefits in itself.
The company has made a commitment to the airport assets, listed as a whole, while the expansion of Pudong Airport and Hongqiao Airport 15 billion each, and 100-200 billion funding requirements. Access to financial resources through financing through asset into the thickening performance of the company will be the best solution for these problems are both listed as a whole to achieve commitment to address the problem at the same time can improve the financial demands.
In mid-November 2006 due to the media on "matters relating to the Group's overall listing," the suspension, resumption of trading after the stock closed up 3.54%. Recently there have been published in the media, "the Shanghai Airport intensive planning for the overall market," the article, the Shanghai airport to clarify the announcement released yesterday, said group is studying the overall listing matters, but currently no specific implementation plan and schedule. Hai Tong Securities thinks that with the Shanghai Airport Authority put warrants expired, the company's overall market will gradually speed up the pace. For listed companies, listed as a whole more good than harm, classification voting system also determines the program should not undermine the interests of the old shareholders, beneficial to the stock remain strong.
Shanghai Airport (Group) core assets of the major international cargo freight stations, domestic cargo terminal and logistics park. The international airport in 2005 the volume of 1.6 million tons, ranking seventh. Shipping assets into the listed company as a whole, although specific programs is unknown, but only the international cargo terminal from 2006 to 2008 for contributions to the company's earnings per share were 0.167 yuan, 0.235 yuan, 0.263 yuan. In addition, the company now has nearly 3,500 acres of airport land-use rights, the book value of only 4.2 billion yuan, a huge growth potential, the future if there was equity transactions, the company will bring significant benefits.
From an overall market perspective, the Shanghai Airport Is not Hudong Heavy (600.15 thousand), Neusoft shares (600,718), Shanghai Automotive (600104) and hippocampus of shares (000,572) more explosive? Shanghai Airport (600,009) The airport operator will be in Asia after Japan's second-largest airport, the key is its located in the most competitive city in China, Shanghai, monopoly free to copy, imagine, Shanghai, to build an airport, there may be?
Shanghai Airport (600,009): company Pudong Airport and Hongqiao Airport, is the only listed domestic airport terminal and runways at the same time have the assets of the company. Currently概算总投�0 billion yuan in Pudong Airport expansion project, opened in 2008 for the company to lay a solid foundation for sustainable high growth. Unit 2006 estimated earnings per share to reach 0.8 yuan or more, valuation obvious advantages, according to its ordinary shares after the expiry of warrants generally have been the law of large gains, combined with the unit since January pulled into the main period of morphological techniques presents the main lock chips pulled up the signs of short-term driven by the broader market, "digging" is a good chance to buy some, concern.
