CITIC Securities: Opportunities For Small Cap Stocks
citic securities
Recently released "small cap stocks" in 2012.
investment strategy
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The report said that the impact of the global severe economic situation on domestic SMEs has begun to be reflected in the three quarterly report. But since September, the ups and downs of small cap stocks show that the market has been actively digesting these negative information.
In the past month, the SME board and the growth enterprise market were identical in 2012.
Profit forecast
They were cut by 4.8% and 8.4% respectively.
Small cap stocks held by the fund also dropped sharply to 26%.
Next year, the fundamentals of small cap stocks may appear "low before and after high", and investment opportunities are expected to be more optimistic than 2011.
CITIC Securities has three themes:
1, industries and stocks that can span the economic cycle will still be sought after by the market.
In the next four quarters, enterprises that will maintain more than 50% growth will enjoy valuation.
Premium
It is recommended to focus on health products, lotteries and business operations.
2, stocks with strong capital strength and counter cyclical expansion capability are expected to become hot spots in the market.
It is expected that in the next 3-6 months, the extensive merger and acquisition will be the best way for enterprises to make up for the insufficient endogenous growth power.
3, asset restructuring.
In the absence of clear investment lines, it is expected that all kinds of restructuring stocks will be active again.
CITIC Securities Growth Portfolio recommendation:
Dong CAI Technology (601208): the strength of research and development is outstanding, and new products emerge in an endless stream. The insulation components of converter valves are expected to become the new driving force for the 2012 performance.
Hai Yin shares (000861): business operation is expected to quickly replicate expansion, clear growth momentum, stock price adjustment before the obvious advantage of valuation.
Camel shares (601311): benefiting from the policy driven integration of lead-acid battery industry, the short-term growth prospects are clear.
Hongbo shares (002229): once the sales license of the paperless lottery is approved, the main industry will successfully bring about tremendous flexibility in its pformation.
Mr Tang (300146): in the fast-growing health care industry, the competitive advantage is gradually recognized by investors, and the future performance is expected to exceed expectations.
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