The IPO Breakage Of Textile And Garment Industry Is Happy And Leisurely.

In the past three years, 5 breakage teams in the textile and garment industry have broken the most. The loss of more than 40% has hurt investors.

In the first trading week of October, the market was not as strong as expected in the market, and the Shanghai Composite Index edged up 0.90%.

At this point, people once again cast their doubts on the IPO that just opened the gate.

In the two tier market, the IPO is like a meat grinder. Most of the new investors are scarred.

The author noted that the IPO of textile and garment enterprises has not been able to break away from the vicious circle in three years. The 24 new shares of the industry have broken 22, and the high breaking rate of new shares has added some worries to the listed companies in this industry.

"For such high breaking new shares, there is the possibility of wrong killing, but it also reflects the market's view of the textile and garment industry."

Beijing textile and garment industry analyst told the author, "can be sure that, three years failed to get out of the IPO break the strange circle, not just speculation a new speculation, the listed company itself does exist too high valuation."

By comparing the 4 companies with the deepest breakage and the never breaking up since the listing, we find that the IPO puzzle that has not been solved for three years can finally be unveiled: the breakup originates from the company's fundamental difficulties; it does not break through its high growth.

The breakage rate of textile enterprises is 91.67% far above the average level of A shares.

Although the A share has just fallen below the 2000 important psychological barrier before the National Day holiday, the new IPO audit has been impatient after two months of empty window period.

In September 28th, the IPO audit of the gem has just been reopened, and the IPO audit of the motherboard has been roar from October 10th.

Since October 11th, the impact of IPO review has been fully restarted. A shares have fallen again, and volume has continued to shrink.

The negative impact of the expansion of new shares seems to be a barrier for A stocks to cross.

According to the latest statistics of WIND, as of October 15, 2012, there were 779 A share listed companies since 2010. After the resumption of power, the latest share price has broken out of 523 companies, accounting for 67.14%.

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In the less than three years, the apparel industry has seen 24 companies appearing on the stock market through IPO. Up to now, the number of shares breaking up has reached 22, accounting for 91.67%.

Obviously, the IPO breakage rate of textile and garment industry is far higher than the average level of A shares in the same period.

Further analysis shows that in the 22 textile and apparel stocks that break down, 10 relative to the issue price fall more than 30%.

Among them, the Semir apparel that landed on the stock market in March 11, 2011 is currently only 30% of the issue price; in December 7, 2010, Jiangsu's broad-minded market has broken 53.58% today.

The endless new IPO has always been regarded as one of the chief culprits of the A stock market.

Analysis of the reasons for these new stock market crash, in addition to the performance of the market downturn, the rapid change of face, hot money speculation is the two main reason.

Textile and garment industry securities analysts said that for such high breaking new shares, there is the possibility of wrong killing, but it also reflects the market's views on the textile and garment industry.

What is certain is that three years failed to get out of the IPO vicious circle, not only for speculation, but also for the listed companies themselves.

The author also noted that although some of the stocks still had lower static PE, the PE value would change after the announcement of performance.

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The fundamentals of the stock market were reversed.

Even with the break, there are many different companies.

The deviation degree of stock price is the most direct index.

The author found that in the past three years, 5 breakage teams in the textile and garment industry broke ranks, and the loss of more than 40% has hurt investors.

Costumes: landslide of performance and destruction of share price

The stock was listed in March 11, 2011, the initial price of 67 yuan, the initial number of 70 million shares, the initial fund-raising of 4 billion 690 million yuan, the first raised funds 2 billion 475 million yuan.

As of October 15, 2012, the closing price of the stock was only 20.65 yuan, which fell 46.35 yuan relative to the issue price, and was 69.18% lower than the issue price.

Corresponding to the break of share price in the two tier market, the company's performance has declined.

The company's revenue in the first half of this year was 2 billion 510 million yuan, and its net profit was 250 million yuan, representing a decrease of 16.5% and 43.2% compared with the same period last year, and its performance was lower than expected.

The company expects net profit of 1~9 in 2012 to decline by 20%~50% compared with that of the previous year. The stock of the company has increased in the past quarter, and the corresponding increase in inventory depreciation will lead to a decrease in the company's profits.

Jiangsu broad-minded: focus on "cold violence"

The stock was listed in December 7, 2010, the initial price of 20.10 yuan, the initial number of 50 million shares, the first raised funds of 1 billion 5 million yuan, the first raised funds 687 million yuan.

As of October 15, 2012, the closing price of the stock was only 9.33 yuan, which fell 10.77 yuan relative to the issue price, and was 53.58% lower than the issue price.

There are many worries about the leading part of the automotive interior trim leading the whole industry chain.

In the short and medium term, the growth space of the company is restricted by the industrial chain boundaries, product characteristics, market position, industry trends and consumption habits.

In the first half of this year, the net profit attributable to the parent company was 61 million 639 thousand and 800 yuan, down 5.57% compared with the same period last year. The net profit in 2012 1~9 is expected to be -5%~20% over the same period of last year.

Scarcity resources of persistent growing power waist

Of course, two companies in the textile and garment industry have never broken since listing. I noticed that the two companies have one thing in common, that is, sustainable growth.

Because of their growth, the two listed companies are strong at the waist and a bright light for the listed companies.

Card slave Road: strength to consolidate the foundation of growth

The stock was listed in February 28, 2012, the initial price of 27.80 yuan, the initial number of 25 million shares, the first raised funds of 695 million yuan, the first raised funds 269 million yuan.

Until October 15, 2012, the unit resumed its power.

For 38.58 yuan, the relative issue price rose 10.78 yuan, relative to the issue price increased by 38.78%.

In the first half of the year, the business revenue and net profit increased by 29.49% and 51.65% respectively.

The number of Direct stores increased and the order of franchisees increased. The expansion of business scale led to an increase in business revenue. Net profit in 2012 1~9 was expected to increase by 40~60% over the same period last year.

Search for special: two years to maintain high growth

The stock was listed in November 17, 2010, the initial price of 75 yuan, the initial number of 20 million shares, the first raised funds of 1 billion 500 million yuan, the first raised funds 1 billion 61 million yuan.

As of October 15, 2012, the closing price of the unit was 91.30 yuan, up 16.30 yuan relative to the issue price, and increased by 21.74% relative to the issue price.

The company has maintained a high growth rate in the next two years, which is likely to exceed expectations.

It is estimated that the annual growth rate will be above 50% in 2012, and the growth rate in 2013 will still be around 40%~60%.