Category: Money Tips Date: 2006-05-25
Moderator Sally teacher's words
Annual Report 2005, the disclosure of the prelude has been opened, annual peak in sight. According to annual reports of listed companies on how to adjust the investment and opponents of the stocks individually, at this stage the practical problems faced by investors. Believed to come from a variety of industry strategy, will definitely give you some inspiration.
Overall performance Qudan cause for concern
2005 Annual Report of the peak is coming, though trading would continue in full swing, but still have to prevent the risk of individual stocks. After all, the market most of the stocks in this round of Quotes, on average, have emerged more than 20% of the rise; With the advent of the annual report, some of which will not hide from the embarrassment of the performance. According to statistics, Shanghai and Shenzhen 1378 listed companies, 478 have been given notice of the 2005 results, in which the company Number of Pre-losing more than 210, much higher than in 2004 and 2003, 174 and 147 loss-making figures. Thus, in 2005 annual reports of listed companies, the risk will be accompanied by the spring of 2006 Quotes from beginning to end. This requires investors who have the industry risk and the risk of individual stocks of listed companies timely adjustments.
In addition, the performance of individual sectors to become a landslide in such areas as electronics and information industry, Datang Telecom, G BOE, National Chiao Tung University Broadcom and other companies have a lot of big losses in the first list of companies among the listed companies, mobile phone and other sub-sectors or even across the board loss. Such as Amoi Electronics said it appeared the first loss in 2005. G BOE are expected in 2005 operating loss of no more than 1.5 billion.
Thus, in the current stock market as a whole or to change to make up 20 percent, those results on the existence of significant decline in listed companies will face increasing regulatory pressure. For those with poor performance or loss-making company's stock investors, in the annual report before the announcement to be taken to avoid the first end of the operation strategy.
The most crucial change in the industry boom
Moutai a 15% price increase announcement about the phenomenon of limit-price sealed, has amply demonstrated that a performance of listed companies are still determining the price fluctuations of the main line.
According to statistics, extractive industries, real estate, construction, transportation and warehousing, finance and insurance industry, pharmaceutical industry, biotechnology industry and so on six reporting bad news than good news. While the coal, metal mining industry, the collective good news, the performance of 12 companies is expected, there are 11 expected to increase 50% or more, with only one company Pre-losing. The annual report has already been revealed, such as Lijiang tourism, 2005 Main business revenue, main business profit and net profit are to achieve modest growth, mainly due to rich natural tourist resources and the rising tourist spending boom.
In addition, the disclosure of the Annual Report has been Yuyuan Tourist Mart, G Huajing the beneficiaries are the industry recovery. Performance relative prominence of these stocks should be disclosed in its annual report before and after the take out of rhythm. On the one hand, prior to the disclosure in its annual report, due to good performance expectations, there must be pulled up short-term opportunities, on the other hand, these blue-chip stocks after the disclosure in its annual report, due to favorable short-term uncertainty is bound to the adjustment process. Therefore, after the publication of blue-chip performance but have to control risk. As the current number of listed companies not to disclose annual reports, resource stocks, consumer stocks are all the same opportunities and risks exist.
Automobile and steel to be announced 2005 annual results, it is worrying. In addition, the economy is now clear that the highest point in the industry, non-ferrous metals, oil and other trades, investors must remain vigilant. After all, there are changes in market prices of companies affected by the impact of stock price is too great.
Comparing the performance to see the chain
How to compare performance of the company? Look at the chain, particularly the quarter, compared with changes in ring. If the same period last year, the chain growth results have emerged, indicating that the company is a benign growth, the stock should be a strong trend. If the 2005 results were down, but each quarter, compared with a gradual pick-up ring, then that company is out of the trough, these companies should focus on. For the third quarter, the company reported full-year results predicted, it would take would be reported third-quarter results and annual projections to compare actual performance, focusing on annual performance report does not meet third-quarter forecast of stocks, if the results exceeded expectations, there will be investment in opportunities.
Concerned about the high proportion of Transmission and Distribution companies are expected to
2006 Annual Report of the biggest things to watch for should be those not currently stock change, but is expected to launch a high percentage of the price and the high proportion Major Holders of the listed companies.
First of all, has not yet changed the company's own shares is likely to launch a high percentage of the price of the program, plus if the annual report is published after the launch of a high percentage of Transmission and Distribution Program, which will undoubtedly become the focus of the market, it is very easy to produce short-term dark horse. For example, Anhui BBCA Biochemical Co. (000930 market, information, advice, and more) introduced the program 10 to send 2.5 pairs of prices, it is also launching a 10 Zhuanzeng 10 Major Holders programs, therefore, Fengyuan Biochemical rise not only because it is new energy concept in Major Holders and the price of the program is also very good.
We have issued warrants qualified management approach point of view, more than 300 million shares of outstanding capital stock for many of the obstacles in the small-cap blue chips, so starting from the demand for refinancing, there must be a lot of companies will be announced in their annual reports a high percentage of Major Holders programs, in particular small board company.
Major Holders of dividends from the market reaction to look at the history of, any annual Major Holders ratio to 10 to send four more companies, in their annual reports before and after the stock has a very clear response. We therefore warrants issued under the management practices of the share capital, the circulation market value of the specific provisions, it is easy excavated in advance of potential high-Major Holders objects.
The easier and more reliable method is to go directly to the share reform of listed companies commitment to find the majority shareholder has committed to large-scale Major Holders of the company, which singled out Major Holders higher than 10 rides, 4, and pre-buying, waiting for good public After throwing a profit.
Underperformance stocks "After the first bitter sweet"
If the trend of many blue-chip stocks are often "first, followed by bitter sweet", then need to focus on individual stocks of some underperformance of the "first bitter sweet" trend. For listed companies, the performance is a reflection of business performance, there are also part of the adjustment factor. Have already taken a number of listed companies in past years, a substantial provision for the year, resulting in substantial performance loss precedent, these listed companies are often huge loss in performance when, that is, when a turnaround. A typical, such as Sichuan Changhong announced in early 2005 after the huge loss announcement, the stock began to proven the bottom of the lesson shows that the performance of listed companies are often in the past one year a review of business performance, and can not represent the company's future. While investors, investing in stocks is more stress is placed on performance of listed companies, therefore, for the underperformance of the stocks, but also a viable alternative investment channels. These stocks are often reflected in the trend erased, the report will be ushered in after the disclosure last fall, which began to rebound in the stock into the road. These opportunities are often implicit in the performance of individual stocks is not the normal huge volatility, or the normal business of interference by non-listed companies.
Concerned about the stock reform and performance-related stocks
Judging from the current stock market situation, even if access to annual report disclosure period, attracted the public eye is still the split share structure reform. To cope with the split share structure reform, the performance space with the regulation of listed companies tend to show the performance with the share reform of the good intentions cherished. UFIDA start before the split share structure reform, is reported to express, to yuan 0.56 per share the company's strong performance in 2005 delivered outstanding performance information. This is purely a coincidence, or ulterior motives unknown. However, the good performance of listed company hopes will help pass the expectations of share reform presumably is still there. Thus, in the current stage of stock reform has entered a crucial period, may be due attention to the split share structure reform of listed companies have not yet started, perhaps, to the success of share reform of listed companies will report Dress to please the flow of some shareholders.
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