Five tips: Read the zhongbao to teach you how to quickly become a stock picking expert

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The semi-annual report summarizes the operating performance of listed companies in the first half of the year. It is also a semi-annual "Examination Paper" submitted by listed companies to investors ". For investors, the semi-annual report of a listed company is a rare Investment Guide. It should not only be read in time, but also start from five aspects in this article to find and discover the "Highlights" of the investment ", from the vast amount of information to the "real gold ".

Tip 1: non-recurring gains and losses must be deducted from the performance.

Of course, the performance of listed companies is the first. However, you should not only check the earnings per share, net profit, or other data for the current period, but also carefully check the reasons for the increase or decrease in performance. Some investors only pay attention to the listed companies with a substantial growth in their current performance, blindly chasing up, so that they are stuck in high positions. The reason for this is that some companies have greatly increased their performance, which is caused by some special reasons and there is no continuity. The changes in performance over the past three years depend on non-recurring profit and loss items.

Tip 2: scan "Changes in the number of shareholders"

In general, we can look for clues about the main activities from the changes in the number of shareholders, and find out whether there are any main activities. The decrease in the number of shareholders means the concentration of chips, the concentration of chips is often accompanied by the rise of stock prices or the optimism of institutions. Of course, the variable number of shareholders analyzed by the number of shareholders will also be affected by changes in the share capital, allotment and issuance will affect changes in the number of shareholders, so the number of shareholders analysis is only one aspect.

Tip 3: Read the "Board report" to check the company's investment

Pay attention to the progress of fund-raising investment projects for some new and secondary new shares. The possibility of explosive performance increases when the investment project progresses smoothly. The development plan for the New Year also needs to be concerned, so as to find out whether the company's development plan is consistent with market hotspots.

Tip 4: Compare the "Three fees" increase with the net profit increase

Is the increase in the "Three fees" of operating expenses, management fees, and financial expenses higher than the increase in net profit. Whether or not the management costs continue to rise is also one of the criteria for evaluating a company's quality. In general, companies with an increase in net profit and a small increase in "three fees" are highly competitive.

Tip 5: the gross profit rate is most valued by Buffett

Buffett places great importance on companies that have low cost control. A low cost extension means a high gross margin. The benefits of a company are closely related to the gross profit margin of its main revenue. Because the operating profit rate, pre-tax interest rate, and net interest rate are all reduced from the gross profit rate. The gross profit rate is not good, and other interest rates are not good.