Gem To Accelerate The Bubble &Nbsp; Emergence Of 20 Times Price Earnings Ratio Legion

22 days, Gem With three new IPO listed, Jincheng pharmaceutical and Chow Ming Technology issued a price earnings ratio of only more than 20 times. However, Chau Ming technology was still on sale on the first day, breaking down by more than 7%. In fact, according to the 2010 annual report, the stock price ratio of listed companies on GEM has reached 21 times below 30 times. equity market The profit rate is more than 20 times. In general, the process of "earnings to earnings" of gem is accelerating.

IPO debut Profit rate Continued decline

According to WIND information statistics, the first price earnings ratio (dilution) of GEM listed on GEM in May 31st was 23.41 times, which is the first gem company to issue a P / E ratio of less than 30 times. Two new shares listed in Jincheng medicine and Chow Ming Technology in June 22nd were 22.68 times and 28.14 times earnings, respectively. In addition, the US technology company, which recently announced the success rate, will create a new low price earnings ratio of gem by 18.12 times.

Recently, with the continuous downturn of small cap stocks, the price earnings ratio of new shares has been declining. In addition to Mei Chen technology, this week also issued 2 other gem new shares, Shanghai Xinyang and Fang Zhi technology, and their earnings per share ratios were 28.38 times and 26.13 times respectively. The same is true for small and medium-sized board companies. The market share of BYD's diluted earnings is 20.47 times that of the market. In June 22nd, the issuance price of the small and medium sized board of new products in Hainan, which was purchased online, was finally priced at 12.15 yuan, with a price earnings ratio of only 19.92 times. At the same time, the Shanghai Stock Exchange's IPO share price earnings ratio was 23.97 times that of the Shanghai Stock Exchange.

Data show that the continuous "squeeze bubble" is making gem price earnings ratio fast decline. Since June, a total of 9 companies have entered the gem, and their average initial price earnings ratio has been as low as 33.71 times. In May, there were 15 GEM companies, with an average initial earnings ratio of 42 times. In April, the average price earnings ratio of GEM companies was 59.2 times higher than that of the GEM companies listed in April, and the average initial price earnings ratio of GEM companies listed in March was 65 times.

Gem 20 times price earnings ratio emerging

Although the issue of gem is fast going to "bubble", the first day of the new stock market performance is still poor. In the three new stocks listed in June 22nd, the first day of the listing of chow Ming technology broke down, down 7.38%. According to Wind data, according to the post resumption price, as of 22 June, a total of 137 GEM companies had fallen below the issue price, with an average breaking rate exceeding 20%. Among them, Hengxin mobile, Ningbo GQY compared to the issue price fell by more than 50%, Nandu power, Netac technology, Meitai and other 8 companies compared to the issue price fell by more than 40%.

The sharp fall in share prices has pushed the price earnings ratio of GEM companies down rapidly, and a large number of companies' price earnings ratio has entered the "two era". According to Wind data, up to now, a total of 21 GEM companies have calculated the P / E ratio below 30 times according to the 2010 annual report, of which the price ratio of Jin Li Tai is 19.92 times. In the light of time, most of these companies with low price earnings ratio are the new shares listed this year. However, the data also show that the market has different views on different GEM companies, and their share price performance and price earnings ratio have already split sharply. At present, the price earnings ratio of Wan Banda is still 175 times, ranking first among GEM companies, and the price earnings ratio of Herman technology is more than 100 times. In addition, there are 6 companies with a P / E ratio of more than 80 times, and a total of 70 more than 50 times.

According to the price of the resumption of power, there are 8 GEM companies whose share price is still above 100% of the issue price. They are all the first listed GEM companies. Among them, the price increase of the Pathfinder is as high as 206.7%, while the water saving rate of Dayu is as high as 163.7%.

Many industry analysts believe that at present, the static price earnings ratio of gem is still larger than that of Shanghai and Shenzhen 300 and Shanghai Stock Exchange 50, and the process of squeezing bubbles may continue. But for some stocks with high growth and actual performance support, the current valuation has already had a certain investment value.