Gem low growth worries: Only 13 companies grew by 50%

With http://www.aliyun.com/zixun/aggregation/25824.html "> Shenzhou Tai Yue (300002). SZ) and so on a number of gem companies today released 2010 Annual performance report, has published annual report of the gem company reached 47.

13 companies grow by more than 50%

As the gem of the company's second-line stock code, the growth of Shenzhou Yue's performance has not shown its code to match the leading level.

According to the 2010-year report of the Shenzhou Thai Yue, the company 2010-year operating income of 841.629 million yuan, an increase of 16.42%. The net profit attributable to the shareholders of the listed company is 327.9156 million yuan, an increase of 21.28%.

Compared with the other 46 companies that have announced their results, Shenzhou 21.28% is only moderately low.

Wind information statistics show that in 47 of the 2010-year performance of the gem companies, net profit than 2009 growth of more than 50% of a total of 13, accounting for the announced results of the total number of gem companies 28%. Compared with 2009, there were 2, respectively, in the game of Intelligence (300044). SZ) and Kang Te (300061.SZ), two companies were down 19% and 25% respectively.

The performance decline was mainly caused by a decrease in revenue from the Shenzhen Metro of major clients and a nationwide strategic distribution of the company, the competition said. However, as the company's strategic distribution work has been basically completed, the performance of the promotion will be reflected in the next year, so the 2010-year performance contribution for the time being difficult to show.

Kang said that the decline in performance is mainly caused by two reasons, one is because the relocation of the factory affected the company's capacity, in addition to the company listed in the process of advertising fees, roadshow fees and other related costs recorded in the current period of profit and loss, resulting in a significant increase in management costs year-on-year.

For the other 134 gem companies that have not yet published their performance reports, according to wind information, there are only 37 companies predicting net profit growth of more than 50%.

One side is the low growth of the gem, while the other side is the overvalued value of the gem company.

Shenzhen Stock Exchange data show that as of yesterday, the gem market average price-earnings ratio of up to 66.82 times times, far more than 51 times times the plate and the Shenzhen motherboard market 34.55 times times.

Brokers prompt attention to growth

Zhongyuan Securities believes that the announced 2010-year performance shows that the gem net profit year-on-year average growth lag far behind the motherboard, performance relative to the motherboard has no advantage. Overall, although the stock index short-term adjustments, but after the previous callback, the gem will still have a larger opportunity to raise.

But in comparison, Ping an securities to the gem of the opportunity to appear more cautious.

Ping An securities that, in the new Sanbanxi market expansion and other bad news hit, gem because of its own high valuation pressure, the trend has been with the SME market differentiation, divergence.

With the rapid expansion of the small and medium-sized board and the gem, the supply and demand of the market share is slowly changing, and the gradual narrowing of the valuation difference is unavoidable. Due to the existence of valuation pressure, including the gem, small and medium market stocks overall opportunities are small, the future market will turn to event-driven, performance-driven individual development.

Ping An securities pointed out that there are two ways to eliminate valuation pressures, one is to reduce valuations through performance growth, and the other is to reduce valuations through price adjustments. Therefore, the most important thing for investors is that they have to chase the stocks with faster performance and avoid the stock price callback. Investors ' focus must be on growth, as only high performance growth can defuse the current high valuation pressures.