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Teach You To Practice "Eagle Eye" &Nbsp; Play With Venture Capital Stock.

2011/8/5 18:11:00 32

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Gem

It has been nearly two years since the opening up, and the characteristics of performance differentiation have been further highlighted.

Wind data show that as of August 4th, 65 GEM companies released the 2011 China Daily report shows that net profit increased by more than 100% of the enterprises reached 6, of which two grew by more than 200% over the same period.

Some enterprises, such as Xinghe biology, have continued to grow at a high level after the listing. Some enterprises, such as po Tak shares, have begun to turn their faces after the listing, and there has been a continuous jump.

The performance volatility of GEM companies is very obvious.

stay

achievement

Under the sharp fluctuations, the gem index also appeared "roller coaster" trend, and in the first half of this year, there was a deep adjustment, and the average issue price earnings ratio gradually returned to rationality.

Market analysts believe that from the perspective of industry distribution, GEM companies are highly compatible with China's economic pformation and development. With this round of "de bubble", the gem has long-term investment value.

The historical data of gem in overseas developed regions show that the valuation premium of gem is higher than that of the motherboard.

However, the overvalued premium enjoyed by GEM companies must be supported by high growth.

At present, many GEM companies generally have the characteristics of single technology, single customer and single market. Under the complex and changeable macroeconomic environment, the persistence of performance growth is facing a test.

This requires investors to practice a pair of "eagle eye", the best choice.

First of all, from apple, Microsoft and other NASDAQ success.

enterprise

To see, its high growth comes from the company's continuous innovation, including technological innovation, business mode innovation and so on. Through innovation, technological barriers are constantly formed to create the core competitiveness of the company.

At present, although most GEM companies are strategic emerging industries, investors need to be carefully screened to specific profit models, innovation capabilities, R & D capabilities and so on.

Secondly, a large number of GEM companies are private enterprises with family holding characteristics.

Whether the management team can operate in good faith, focus on the main business, use investment funds rather than pursue hot money and fast money, is also an important factor determining whether the company can achieve sustained growth.

As a strategic emerging industry with high dependence on new and high technology, the stability of management team and core technical personnel of GEM companies also needs investors to attach importance to it.

Again, investors can consider sharing profits through portfolio or investment index products to reduce risks.

Because of the uncertainty of the growth of SMEs, investors may not be able to avoid the non systematic risks of a single company. However, a certain portfolio investment can reduce the risk.

Besides, investors should also pay attention to the objective evaluation of GEM companies for a long time.

The historical data of the small and medium-sized board show that the growth of the listed companies of SMEs in China has a typical "Nike curve" feature after IPO, that is, their growth has generally declined in the first or two years after the listing, but the growth has begun to pick up.

At present, the growth enterprise market is less than two years old, and its growth needs further observation.