Category: Money tips Release Date: 2007-01-11
Month-degree we recommend, "have completed share reform of the advantages of enterprise" and look forward to in the appropriate environment for such enterprises the right to seek investment opportunities.
Split share structure reform is a major institutional changes in the securities market. Changes in the system at the same time, investors are more interested in the market caused by changes in the intrinsic nature of the new investment opportunities. Full circulation system on the overall market system, the deep-level adjustments will be more distinctive, post-tradable shares times the standard valuation more reasonable. In recent years, with the expansion of the ranks of institutional investors and QFII such as the involvement of international capital, the investor's point of view gradually expanding to globalization. Market investment philosophy, valuation standards and the stock pricing system and international standards has become an inevitable trend of development. Post-tradable shares into tradable times the institutional context, the market valuation of this position will also be adjusted. From the perspective of economic integration in the market balance of supply and demand flow and system conditions, the level of earnings and book value overall development trends in the international market, the industry price-earnings ratio of similar level of integration and convergence. In other words, post-tradable shares times the market's response will be more fully effective. Therefore, we chose to complete share reform of the advantages of business, trying to be more favorable position in the market opportunities in mining stocks.
From the valuation point of view of conventional understanding, to exclude serious flaws in corporate fundamentals, fundamentals of good individual stock price below the net assets, or stock price fluctuations in the vicinity of the net assets, then its existence may be significantly undervalued. We believe that the market as a whole center of gravity down and post-split share price of a particular era Major Holders right cause of the low book value, low price-earnings ratio G Unit, the main reason for the phenomenon. Therefore, we believe that this value will be an underestimate of the phenomenon of phase characteristics, the future importance as investors continued to adjust the price positioning sequence. In other words, the entire stock market value system changes and new features of the presentation, came into being a different investment strategy. Among them, low price-earnings ratio, low book value stock as the main features of G edge enterprises will increasingly highlight the investment value due to become the first choice for institutional investors chasing targets. At the same time, some dominant enterprises ongoing split share structure reform, its suspension when the stock price does not fully revised market expectations, resume trading after the price of achievement will make it into the double-low range of these advantages, businesses may also have been our attention.
Worth noting is that in the era of post-split share structure, the SME board G is the market share the more complete and typical plate, its market linkage between them should not be underestimated. Recently, the media, the Shenzhen Stock Exchange index compiled by the SME board will be officially released December 1, this is only the first tradable index of Shanghai and Shenzhen. And the Shenzhen Stock Exchange concerned that the Shenzhen Stock Exchange may launch one or two areas of T +0 trading, while the product warrants the creation of institutional arrangements will also be introduced. As a result, opened the market for small and medium panels G Unit, the phenomenon of change in trading rules space. The system innovation is often triggered source of market opportunities for significant transactions, it has completed the share reform of the enterprises, part of the advantage of the SME board companies to become investor focus on goals.
To sum up, we have selected the following varieties: G in gold, G Tian-Qi, G livelihood, G Beijing, a new, G Winbond, long electrical science and technology, HTC shares, as the focus of December's monthly variety. And in tabular form specifically addressed, the investors can choose a single species involved, you can also operate as a combination.
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