The latest 109 listed companies with a market value of 100 billion involve 23 Shenyi industries, covering leading enterprises in many industries. Among them, the largest number of Companies in the non bank financial sector is 16, followed by 15 in the banking sector; and the electronic and pharmaceutical industry, with 11 companies with a market value of 100 billion yuan.
Although the number of 100 billion companies did not change much in the third quarter, there were 12 new entrants, including Fosun Pharmaceutical, which produces nucleic acid detection kits and develops new crown vaccines, gol shares, one of Apples core suppliers, and Tongwei, a leading photovoltaic company in zhengtui, etc., involving photovoltaic, new energy vehicles, TMT, medical services, and consumption industries that have performed well since this year.
Huang Lihua, director of active equity of HSBC Jinxin fund, believes that although the current valuations of these industries are on the high side, they represent the main direction of Chinas economic structural transformation, and their growth potential is relatively certain in the next 3-5 years or even more, and there is still a lot of room for growth.
In the third quarter, the market value of 6 companies, including Zhongwei company, LanChi technology, Zhaoyi innovation, Daqin Railway, Bank of Beijing and huiding technology, fell below 100 billion yuan in the third quarter.
Among them, huiding technology, the leader of fingerprint identification, was the most serious one, with its market value reduced by 30 billion in three months. The companys half yearly report data showed that, while revenue increased slightly by 5.87% year-on-year, the net profit fell 41% year-on-year. In fact, before the publication of its semi annual report, when the stock price reached a record high, huiding had already made a preventive injection against its unsatisfactory performance, first the reduction of the state-owned large fund, and then the high-level volatile stock price.
Wang Jun, research director of Boshi fund research department, believes that in the first half of the year, the A-share market showed a top heavy situation. Top heavy means that the valuation of many industries, such as medicine, food and beverage, and science and technology industries, has reached a historical high level; while foot light means that many traditional industries, especially those related to economic growth, are at a historical low level. Since the third quarter, the early part of the larger plate appeared a certain degree of correction.
It is worth mentioning that Zhongtai securities and SMIC are born with golden spoon. The two companies only went public in June and July, respectively, and have been listed for only three or four months. The difference is that the market value of Zhongtai securities was only 40 billion yuan when it was listed, but now it has nearly doubled, while SMIC international has been nearly cut off.
China semiconductor is the most advanced and largest chip company in China with the largest supporting services. It has been accepted from the listing application and listed on the Gong Gong, and it has only taken 45 days to run out of the IPO speed of the KB. As soon as it was listed, the company was favored by thousands of funds, with a market value of 280 billion yuan after the closing of the first day of listing. However, after going up, it will inevitably fall back. The current market value is 180 billion yuan.
A rebound is expected
If the market value of 100 billion is the threshold for a company to upgrade from general to excellent, then the trillion market value represents excellence. Compared with the middle of the year, three months later, Maotai and the four great lines are still standing at the top of the pyramid.
The market value of Guizhou Maotai surpassed that of ICBC for the first time in June, breaking the pattern that the latter has occupied the first place in the total market value for a long time. Now, its market value has exceeded 2 trillion yuan, and it is the only company with a market value of more than 2 trillion yuan in the two cities.
In addition, there are 17 companies with a market value between 90 billion yuan and 100 billion yuan, all of which are potential 100 billion companies. Guo Xiaowen, the fund manager of China Post Fund, analyzed the current fourth quarter of the market. The current market is mainly concerned about the overvaluation of consumption. However, as the A share market has the highest degree of institutionalization and internationalization, the current valuation of overseas consumption is still relatively reasonable, far from the valuation bubble stage. However, the time when the consumer sectors maximum upward slope has passed, and it is necessary for the consumer sector to maintain a high outlook. For science and technology stocks, in the long run, the protracted war on science and technology between China and the United States has begun, and this round of science and technology market will shoulder the historical mission and become the medium and long-term main line of the market.
Yang Delong, chief economist of Qianhai open source fund, told the China times that the A-share market in the fourth quarter is expected to usher in a decent rebound, and may even exceed expectations. On the one hand, the steady recovery of the economy; on the other hand, the liquidity remains reasonable and abundant; the fund sales are extremely hot, which provides a continuous flow of incremental funds for the A-share market. Although this year is not a bull market, the issuance of new funds has exceeded 2 trillion, a record high, of which 70% are equity funds, which will bring incremental funds to the long-term strength of the A-share market. Under the control of housing speculation, a large number of residents savings will choose to buy funds to flow into the capital market. Now the trend has formed. The hot sales of new funds this year is not a short-term phenomenon, but a long-term trend. In the next few years, Chinas fund industry will usher in great development opportunities. Source: China Times Author: Chen Feng, editor in charge: Wang Xiaowu_ NF