Zhongxin or Zhongxin? New third board selected layer listed on the first day more than 60percent broken

category:Finance
 Zhongxin or Zhongxin? New third board selected layer listed on the first day more than 60percent broken


In terms of trading volume, it also shows a polarization trend. As of the press release, the transaction amount of Star stock n Bertrand has reached 340 million yuan, and the transaction amount of n Guandian, n Chuangyuan and nsen Xuan has exceeded 100 million yuan.

How to treat the first day of large-scale break?

Benefiting from the high and high signing rate, relatively reasonable pricing and the recent market environment, it is expected that the first batch of companies will have a relatively objective return rate. Therefore, the performance of selected layer opening board is optimistic as a whole, but individual stocks or differentiation. Anxin securities new third board chief analyst Zhu Haibin said.

At the same time, some industry analysts pointed out, for the performance of the first 32 stocks today, I dont think it is the most important. The most important thing is that the selected layer has come out, which represents that the whole new third board has entered a new historical stage.

Zou Kun, an analyst at the new third board of Huaan securities, pointed out that under the background of weak economic recovery and reasonable and abundant liquidity, the in-depth promotion of capital market factor reform is expected to promote the continuous upward trend of market risk preference, and the selected enterprises may usher in the best opportunity of value revaluation. He said that he continued to be optimistic about the enterprises with high-quality tracks in selected layers, clear growth path and stable and effective finance. He suggested that four enterprises should be focused on: (1) beiteri, a leading enterprise of lithium battery anode materials; (2) Guandian defense, a leading enterprise of industrial UAV subdivision; (3) Hanbo hi tech, an important supplier of semiconductor display panel; and (4) Chuangyuan, a leading enterprise of 5g communication test instruments At the same time, it is suggested to pay attention to: (1) AI Rong software, a service provider in the field of financial information; (2) Lude medical, a leading family medical device enterprise.

There are great differences between the selective stock trading system and the basic and innovative stock trading systems. Some institutional arrangements are also different from those of Shanghai and Shenzhen Stock Exchange and the science and technology innovation board.

The first is the implementation of continuous auction trading for selected stocks, which is different from the basic level and the innovation level (market making or call auction trading can be adopted), which is in line with Shanghai and Shenzhen markets.

Secondly, there is no limit on the first day of trading of the selected layer, but if the intraday stock price rises or falls by 30% or more than 60% compared with the opening price of the day, the trading of the stocks will be suspended for 10 minutes. Except for the first day of transaction, the price of the selected stocks is limited by 30% of the previous closing price.

In addition, a few days ago, the national stock transfer company said that it would cancel the proportion of public funds invested in the new third board select layer enterprises in the product closure period. Previously, it was stipulated that the proportion of the new third board fund invested in the selected enterprises of the new third board during the closed period shall not exceed 20%, and the investment proportion in the open period shall not be higher than 15%.

In addition, the fund company can set up the new third board public offering products according to the risk return characteristics of the selected stocks, and reasonably set the risk rating of the products.

According to the official website of national stock transfer companies, 32 companies that have completed public offering will be listed as the first batch of selected companies. Judging from the overall situation of the first batch of 32 selected companies, the selection layer not only adheres to the positioning of serving small and medium-sized enterprises, but also adheres to the inclusive and characteristic development direction, forming complementary differences with Shanghai and Shenzhen markets.

Specifically, wind data shows that in terms of issue price, among the 32 selected companies listed in the first batch, Hanbo hi tech has the highest issue price, reaching 48.47 yuan / share. The second was Bertrand, Liancheng CNC, Yongshun biology, Airong software and Chuangyuan instruments, with the issuing prices of 41.80 yuan / share, 37.89 yuan / share, 29.88 yuan / share, 25.18 yuan / share and 22.31 yuan / share, all exceeding 20 yuan. On the whole, among the 32 companies listed in the first batch, 2 companies had an issue price above 40 yuan; 4 companies had an issue price between 20 yuan and 40 yuan; 10 companies had an issue price between 10 yuan and 20 yuan; and 16 companies had an issue price lower than 10 yuan.

In terms of price earnings ratio, Chuangyuan instrument was the highest, reaching 90.43 times. The second is Guandian defense and beiteri, which are 51.98 times and 51.94 times respectively. In addition, the price earnings ratios of Airong software, Yongshun biology and hengtuo open source are all over 40 times, 49.31 times, 46.01 times and 42.77 times, respectively. On the whole, there are 3 issuers with P / E ratio higher than 50 times, 11 companies with a price earnings ratio of 30 times to 50 times, 11 companies with a price earnings ratio of 20 times to 30 times, and 7 companies with a price earnings ratio lower than 20 times.

In terms of total fund-raising, the highest was Bertrand, which reached 1.672 billion yuan, far exceeding that of other companies. Liancheng CNC, Yingtai biology and Guandian defense ranked second, raising 568 million yuan, 554 million yuan and 542 million yuan respectively. On the whole, there are 4 companies that have raised more than 500 million yuan; 5 have raised funds between 300 million yuan and 500 million yuan; 11 have raised funds between 200 million yuan and 300 million yuan; and 12 have raised less than 200 million yuan.

In addition, in terms of the number of shares issued, seven companies issued no more than 10 million shares, with the minimum number of 1.2 million shares; four companies issued more than 50 million shares, and the largest one issued 100 million shares. At the same time, 29 companies in the first batch adopted inquiry method and 3 companies adopted pricing method; 15 companies introduced strategic placement, accounting for 9.77% of the shares issued.

Source of this article: Yang Qian, editor in charge of CFA_ NF4425