Gem Stock Commented: The Tide Receded From &Nbsp; They Were Swimming Naked.

"When the tide recedes, we know who is swimming naked." IPO Many of the new shares were sold at high prices with high growth aura. Now, as the annual reports and quarterly reports gradually become clearer, investors find that the good prospects described at the moment are just a big pie painted by the company or the underwriter.

According to statistics, since last year, 417 small and medium-sized plates have been listed. Gem New shares, 76 companies in 2010 net profit fell by a different margin, 162 companies net profit growth of less than 30%. At the same time, 198 companies disclosed a quarterly performance or performance notice, of which 35 companies declined or even lost. In particular, those new shares that had once created myths, and their high growth expectations shattered, are really heartbreaking for investors.

　　 Purell The most expensive IPO high growth Cheng Fuyun

The price of up to 148 yuan / share has been unmet. As one of the few companies producing heparin sodium preparations and APIs in the country, Hai Pu Rui "FDA exclusive certification" has been well received. Many brokerage researchers at that time believed that as the heparin raw material supply will be in short supply, and the company's industry status and development prospects, it is estimated that earnings per share in 2010 will be more than 3 yuan.

However, shortly after the listing, Hai Pu Rui "FDA exclusive certification" has been questioned, even more surprising is the company's performance. In 2010, Hai Pu Rui also realized the earnings per share of 3.13 yuan, which basically met the expectations of the original broker, but its performance increased by only 49.49%. The growth rate of 136.78% and 401.29% in 2008 and 2009 slowed down significantly. The performance in the first quarter of this year was down by 39.11%, mainly due to the active price reduction of heparin NP. From the analysis report of the securities company, with the increasingly fierce competition in the heparin sodium preparation and API market, the possibility of continued price reduction is not ruled out, and Guoxin Securities and Ping An Securities have all lowered the rating of the company. The era of high growth seems to have ended in the second years of listing.

The response of the market to the Hai Rui quarterly is "selling". After the first quarter's performance, the company's share price has dropped by about 30%. As of yesterday, its stock price has been below 100 yuan for two consecutive trading days.

The myth of gem is breaking down.

Mr Tang was a benchmark company on GEM. Its selling price was 110 yuan, the highest record of gem, and its P / E ratio was as high as 115.3 times. The company that hired Yao Ming as spokesperson for the image has been placed high hopes for high growth in the context of the great development of China's nutrition industry. When the pricing report was released, many researchers named the "high growth health care industry upstart" title. It is estimated that earnings per share in 2010 will be between 1.6 yuan -1.7 yuan.

Mr Tang realized net profit of 92 million 106 thousand yuan in 2010, an increase of 76.54% over the same period, and 2.25 yuan in earnings per share. It looks good. But the company's performance in 2008 and 2009 increased by 120.22% and 95.36% respectively, and the growth rate in three years decreased continuously. At the same time, its net profit increased by only 25.31% in the first quarter of this year.

Since its listing, the stock price trend is mainly downward. In April 19th, it fell below the issue price of 110 yuan, setting a new low of 104.44 yuan, closing at 110.01 yuan yesterday, barely standing on the issue price, but it is only a matter of time before it breaks through such a growth trend.

Tianlong Group: annual report quarterly decline

Tianlong Group is considered to be the largest water-based ink manufacturer in China. Unlike the first two companies, Tianlong Group was considered to be mediocre when it was listed. However, under the high heat market, the company still issued a high price earnings ratio, and now it is also in its original form.

Tianlong Group last year's annual report and this year's quarterly weakness obviously showed. Last year, the company achieved net profit of 25 million 717 thousand yuan, down 29.45% compared to the same period last year, and in the first quarter of this year, the company expected net profit of only 1 million 900 thousand yuan -230 million, down 71.85%-65.91% compared with the same period last year, mainly because the increase in product prices was less than the increase in the cost of raw materials. If this situation persists, then the agency believes that the company's performance by boosting production may not be achieved this year.

Of course, in the face of the sharp decline in the company's performance, the capital market is not at all polite. In March 28th, the second trading day after the disclosure of the annual report by Tianlong Group, its share price fell 7.5%, so far it has fallen by about 14%. Recently, the stock price has also reached a new low, closing at 22.23 yuan yesterday, which is lower than the 28.8 yuan issue price.

The situation of these companies is the epitome of many new shares. Apart from them, Huifeng shares, new technology, New Asia process, Jinzhou pipeline, Yongan pharmaceutical, Moen electric, double arrow share, 35 interconnection, Ou Feiguang, Jinsheng share, Beijing Lear, Yichang stock company and other companies also showed a weak state of growth in the 2010 annual report. Why did the recent small and medium sized board and GEM companies' share prices plummet?