This week, the enthusiasm for public offering research has increased significantly. According to the data of the public offering network, from July 8 to July 14, a total of 135 public offering institutions conducted a total of 902 surveys, covering 117 listed companies in 24 Shenwan industries. On a month-on-month basis, the number of public offering institutions participating in the survey increased by 8.89%, and the number of surveys increased by 37.08%.
According to the data of the public offering network, among the 117 listed companies surveyed by public offering institutions this week, 40 listed companies were investigated by no less than 5 public offering institutions, of which 16 listed companies were investigated by 5-9 public offering institutions; 12 were investigated by 10-19 public offering institutions; 8 were investigated by 20-40 public offering institutions; 4 were investigated by no less than 50 public offering institutions. Crystal Optoelectronics belongs to the electronics industry, is a leading domestic precision thin film optics and extension products research and development, production and sales of enterprises, this week by 78 public institutions collective research. It is worth mentioning that among the 24 listed companies surveyed by no less than 10 public offering institutions this week, the number of companies in the electronics industry is the largest at 7, followed by the biomedical industry with 5, and the electronics industry has re-emerged as the industry most favored by public offering research.
More than 6 percent of public offering research stocks rose. According to the data of the public offering network, among the 117 listed companies surveyed by public offering institutions this week, 76 stocks rose from July 8 to July 14, accounting for 64.96%. Among them, 29 stocks rose by no less than 5% in a single week; 10 stocks rose between 10-20%, 5 stocks rose by more than 20%, and the largest increase reached 44.13%.
The electronics industry is back in the most popular industry for public offerings. According to the data of the public offering network, among the 24 first-class industries covered by the public offering survey this week, 9 industries have been investigated by public offering institutions, and the number of listed companies is not less than 5; In the electronics industry, 22 listed companies were surveyed by public offering institutions, becoming the most favored industry by public offering research this week; Secondly, machinery and equipment, 16 listed companies were investigated by public offering institutions. It is worth mentioning that the attention of public offering institutions to the pharmaceutical and biological industry this week has decreased compared with last week, and 11 listed companies in the pharmaceutical and biological industry have been investigated by public offering institutions this week; On the contrary, this week's attention to the electronics industry has increased, and the electronics industry has re-emerged as the most favored industry for public fundraising research.
Bosera Fund is the most active in research. According to the public offering ranking data, 135 public offering institutions participated in the research of listed companies this week, and 82 public offering institutions conducted no less than 5 surveys, which means that there are surveys every working day, of which 48 public offering institutions have conducted 5-9 surveys; 23 public offering institutions conducted 10-14 surveys; 11 public offering institutions have conducted no less than 15 surveys. Bosera Fund conducted 28 surveys this week, becoming the most active public offering institution; followed by 20 surveys conducted by China Southern Asset Management; Again, it is 19 times of Penghua Fund, with an average of no less than 4 surveys per working day.
Public offering is bullish: the market is at the bottom and is optimistic about the growth direction
From July 8 to July 14, the Shanghai Composite Index rose 0.72%, the Shenzhen Component Index rose 1.82%, the CSI 300 Index rose and fell 1.20%, and the ChiNext Index rose and fell 1.69%. In terms of industries, electronics, automobiles, and banks were among the top gainers, while coal, media, agriculture, forestry, animal husbandry and fishery were among the top decliners. When it comes to the next market situation, the public offering believes that the market is at the bottom and is optimistic about the growth direction.
Jiahe Fund: The current A-share valuation, net breaking rate, risk premium and other indicators show that the market has been in a large bottom area, and the intensive introduction of positive policies is expected to make the macro and micro fundamentals gradually warm, and the capital side is also expected to have positive changes in the future.
Hang Seng Qianhai Fund: The recently released important domestic economic data is weak, superimposed by overseas disturbances, the A-share market as a whole is under pressure, but after the early adjustment, the market has stabilized this week. The follow-up market pivot may slowly increase, and the upside risk is higher than the downside risk, but it may remain volatile in the short term, and the sustainability of the upward trend remains to be seen, but the change of style may bring structural opportunities. On the policy side, the current market is paying more attention to medium- and long-term reforms, and the important meeting to be held in July is expected to further clarify the direction of medium- and long-term reforms. In addition, there is a policy expectation that the field of scientific and technological innovation catalyzed by policy has become a structural bright spot, and the approach of the mid-term reporting season is approaching, and funds may seek to hedge in high-performing stocks. In terms of industry allocation, it is recommended to balance the allocation of value and growth sectors in the short term, but in the medium and long term, the technology sector still has great opportunities in the whole year, and it is recommended to closely track the development of the artificial intelligence industry and the high-end manufacturing industry and grasp the long-term trend opportunities.
Furong Fund: We maintain the judgment that the current is still in the bottom range of this round of adjustment, the core logic is that after the real estate policy turns, the probability of systemic risks in the macro economy is low, before the directional change in policy and economic data, the market is likely to run back between the optimistic expectations supported by the policy and the pessimistic expectations of the relatively weak data, and the current market valuation and transactions have reflected the pessimism about the economic recovery to a considerable extent. In the future, we will pay attention to the directional guidance of the Third Plenum on deepening economic reform, and recommend staying patient and continuing to embrace "real growth stocks" with sustainable growth capabilities, as well as pro-cyclical leading companies whose fundamentals have bottomed out before there is a directional change in the economy or policy. The industry focuses on: 1. Growth tracks such as semiconductors, communications, pharmaceuticals and other sectors; 2. Coal, electricity, telecommunications, etc. under the revaluation of assets of high dividends and state-owned enterprises; 3. New energy for power equipment with gradual bottoming out of fundamentals.
Chang'an Fund: After the domestic economic growth in the first quarter was better than market expectations, the data from April to May showed that there were still twists and turns in the repair process, and the real estate market did not see significant improvement. Although the recovery market since February has encountered twists and turns, we believe that the most pessimistic period of this year's expectations may have passed, and the A-share market still has structural opportunities due to the increase in the steady growth policy in the second half of the year and the continuous improvement of the current medium and long-term system in the capital market. At the semi-annual time node, the market's attention to the performance of listed companies has gradually increased, and the interim report will give directional guidance on investment opportunities. It is recommended to configure industries: (1) The technology field is still the direction of continuous attention, the trend of artificial intelligence industry continues to progress under the guidance of overseas, the market expects Apple's new products to lead AI terminal innovation, and the semiconductor cycle has signs of repair; (2) Industries with declining capital expenditures may have an improvement in the pattern, such as resource goods, public utilities, transportation, etc.; (3) the banking sector benefited from the resolution of tail risks under "definancialization"; (4) In addition, the fields with overseas competitiveness are worth continuing to track.
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