Hot money recently bought star technology. According to the trading public information on September 30, the top four buying seats of star technology were all business departments, of which the largest buying seat was Huaxin securities Shenzhen Yitian Road business department, with a total of 17.35 million yuan. The business department of Guojin securities Xiamen Hubin South Road bought 14.67 million yuan, China Galaxy Beijing Zhongguancun Street business department bought 9.6 million yuan, and CITIC Securities Shanghai Liyang Road business department bought In addition, Huaxin Securities Shanghai branch also ranked the third largest buying seat.
According to the trading public information on September 28, there were also many business departments in the top five buying seats of star technology, including the business department of Great Wall Guorui Shenzhen Shennan Avenue, the business department of Beijing Capital Securities Shanghai Xietu Road and the business department of Great Wall Guorui Jinjiang Donghua street.
However, analysts believe that star technology has recently received three consecutive limit boards, and the chips for hot money are already in the state of distribution, and there is a risk of short-term chasing high. On September 28, Star Technology received the first trading limit board, with a transaction amount of 110 million yuan, and the turnover rate was only 2.9%, and the chips were in a locked state; on September 29, Star Technology received the second trading limit board, the transaction amount was only 50 million yuan, and the turnover rate was 1.26%; on September 30, although Hengxing technology closed the third limit board, the trading volume was huge compared with the historical average The transaction amount was 492 million yuan, and the turnover rate reached 10.46%. Hot money distributed chips to the outside world.
Because of Xu Xiangs finger, star technology has been soaring. According to the third quarterly report of Star Technology in 2010, Zexi No.1 holds 5.45 million shares of star technology, ranking the second largest circulating shareholder; by the first quarter of 2011, Zexis two phases of products have accumulated 10.73 million shares. However, in the 2011 semi annual report, Zexis two products have been withdrawn from star technology.
With the arrival of Xu Xiang, star technology also soared by 116% and 42% in the third quarter of 2010 and the fourth quarter of 2010, respectively. Although Xu Xiang has already withdrawn from star technology, since Xu Xiang was arrested in November 2015, Xu Xiang concept stocks have been affected, and star technology has also started consolidation for nearly five years.
What are the fundamentals of stellar technology
The recent surge in star technology is related to the collective rise of photovoltaic concept. As the main product of star technology is diamond wire, which is used for cutting silicon wafers for photovoltaic solar energy, driven by the collective rise of photovoltaic plate, star technology is also on the top of the tuyere, and has recently ushered in three consecutive limit plates.
According to the semi annual report of star technology, the companys operating revenue in the first half of this year was 1.3 billion yuan, a year-on-year decrease of 20%; the net profit attributable to shareholders of listed companies was 44.49 million yuan, a year-on-year decrease of 14.52%, but the net profit after deduction increased by 1.58% year on year. The management of the company said in the semi annual report that in the first half of 2020, the company and its upstream and downstream enterprises were delayed to resume work and logistics was blocked due to the impact of the new crown epidemic, which had a certain impact on the companys operation in the first quarter. On the other hand, with the increase of the national investment in new and old infrastructure, a new round of opportunities and challenges will be brought to the company.
Zhongtai Securities said that since 2019, the cash flow situation of star technology has continued to improve, especially in the context of the epidemic, the companys cash flow from operating activities in the first quarter of 2020 will achieve a substantial increase, further highlighting the continuous improvement of the companys operation quality.
Zhongtai Securities believes that at present, the competition in Chinas metal products industry is fierce, and the reduction of product prices has led to a decline in profits. However, the market is gradually moving closer to large-scale enterprises, and large-scale and intensive development has become a trend. In the metalwork plate of the company, the high income is prestressed steel strand, steel cord and steel strand. Among them, prestressed steel strand is mainly used in railway, highway and other concrete steel field, galvanized steel strand is mainly used in power cable, UHV Engineering and other fields, intercity high-speed railway, rail transit and UHV are key areas of new infrastructure.
Zhongtai securities also said that in 2018, the company set up a wholly-owned subsidiary, Inner Mongolia Xingxing Chemical Co., Ltd., to enter the field of silicone new materials. In the future, with the production of silicone products, the company will form a diversified industrial layout based on metal products industry and oriented by new chemical materials industry.
Zhongtai securities further said that the company is a professional manufacturer in the field of metal products, among which, it has obvious competitive advantages in the subdivided industries such as galvanized steel wire and steel strand, and the steady growth of traditional plate constitutes the companys basic performance plate. In addition, the company has obvious cost advantages in the construction of silicone products in Inner Mongolia, which is expected to contribute to the companys performance increment.
Analysts believe that although the concept of photovoltaic is hot and the fundamentals of star technology have improved, as a traditional industry, the valuation of star technology is already high. The companys current rolling P / E ratio is 60 times, and the market value is 4.9 billion yuan. The companys profitability is still weak, the semi annual report shows that the companys gross profit margin is 15.64%, and the net profit rate is only 3.42%.