Yanghe shares impact A-share price "ceiling" Maotai or undervalued

China's ship in October 2007 to create the 300 yuan this a a-share history of the highest price, so far no one stock can go beyond; but in the shares of the first high price shares in Yanghe (002304, close to 279.51 yuan), it seems that the 300 yuan Mark does not seem insurmountable "ceiling." Yesterday, Yanghe shares again pulled out of trading board, which is also in Yanghe shares since Friday, a continuous trading day of two.　　Yesterday after trading, Yanghe shares distance of 300 yuan Mark once again approached a step, if today Yanghe shares rose 7.33%, will reach 300 yuan! Mechanism control disk shrink limit to undertake the Friday trading, yesterday, Yang shares jumped at 262 yuan, opening is also the lowest price of the day, open, Yanghe shares continuously pulled up, to the trading board flutter, after 10:00, Yanghe shares on the touch of trading board, although the first trading failed to effectively seal the death,　　But Yanghe shares soon launched a new round of the offensive, after 11:00 seal the death Limit board, afternoon market several times diving, Yanghe shares although briefly open trading board, but close, still be nearly 100,000 shares to pay off trading board. Interestingly, the higher the share price, turnover, but a sharp contraction, yesterday Yanghe shares trading, but only 945,000 shares a day.　　A food and beverage industry analyst told The Daily Economic news that at nearly 300 yuan high, Yanghe shares the whole day less than 1 million shares, suggesting that the majority of the shares in Yanghe's chips are locked.　　According to the disclosure of the three quarterly bulletin, the majority of the shares in Yanghe stock chips are basically in the hands of institutions, in addition, just lifted the 154.22 million-share chips did not because of the ban on restricted stocks and loosening.　　Shareholders ' meeting to inspire long passion in the last Thursday, because of shareholders meeting and suspended for a day, Friday after the card, the stock price on a continuous trading, then Yanghe stock trading, whether with the convening of the general meeting of shareholders?　　According to a researcher who attended the general meeting of the Thursday, many organizations attended the meeting of the shareholders, there are about dozens of people, then we met the President of the company, many organizations and the president after chatting, all feel the level of Yanghe shares management team is very high. Yanghe shares last week issued a resolution of the second general meeting of shareholders in 2010, confirmed the said researchers.　　Yanghe shares in the announcement, said that at this meeting of the provisional General Meeting and online voting shareholders and shareholders of the total of 76, representing the company's total shares of 90.897%, of which: attendance at the on-site meeting of the shareholders and shareholders on behalf of 24 people, through the network to vote 52 shareholders. For the two consecutive trading days of Yanghe shares, the researcher also published a personal opinion: this time went to a lot of fund managers, it is likely that the fund and other additions to play up, after all, Yanghe shares of the fundamentals are very good, and the flow of chips is not much, it is easy to dry to the trading board. In recent days, there has been a seller of research institutions to increase the target price for Yanghe shares, such as the Hunan Treasury securities on November 11, issued a report will be the future of Yanghe shares 12The monthly target price was raised to 330 yuan.　　But he also said that such a continuous trading is not normal, as a consumer goods company, the fundamentals can not be in a day or two a sudden change in time, consumer goods companies should be a slow rise, which is more in line with the logic of investment. Maotai or be underestimated yesterday after the shares of Yanghe stock, continue to pull up with the old leading Guizhou Maotai (600519, closing price of 178.51 yuan) between the distance between the price, the difference reached 101 yuan!　　This is also two liquor stocks in the two-tier market price difference for the first more than 100 yuan! The reporter found that on the same day that the 330 yuan target price of Yanghe shares was released, Xiang-Wealth Securities also published on November 11, a report on the Guizhou Maotai, not only to give the purchase rating, but also a large increase in Guizhou Maotai 6-12 months to the target price to 280 yuan, for the current all the seller researcher to give the highest target price,　　Xiang-Wealth Securities to Guizhou Maotai 2010 ~2012 year earnings per share of 5.25 yuan, 6.97 yuan and 9.82 yuan respectively.　　Comparing the profit forecast of Maotai and Yanghe shares in Xiang-CAI Securities, its 2011 and 2012 backwardness of Yanghe shares are not much, less than 10%, and Yanghe shares of the stock is higher than the Guizhou Maotai 56.58%. "Such a big price difference, it is likely that the market underestimated the Guizhou Maotai." "Private equity said that the shares in Yanghe rose sharply this year, reflecting the market's high concern for the company's continued growth in performance." However, Maotai as China's liquor industry boss, will not easily give up the "liquor one elder brother" position, taking into account the year-end price-raising effect of Maotai, and management of the future release of the performance, the current Guizhou Maotai is relatively underestimated.