Stock Market New Shares Affect Gem Going Down

4 only New shares Today, the price earnings ratio is less than 20 times.

The second round of IPO floodgates began to divert the stock market funds. Shen Jizhong

Xuelang environment, Longda meat, lien Ming shares and Feitian integrity 4 new shares are purchased today. As the SFC strictly controls the phenomenon of excess fund-raising, the average price earnings ratio of the four new shares is less than 20 times. Affected by this, the gem index fell 1.3% yesterday, closing at 1377.43 points, ending the previous continuous rise.

　 4 new shares issue low price earnings ratio

According to the announcement, four new shares issued today are undervalued. The snow wave environment has a price earnings ratio of 22.17 times. Longda meat sells 19.58 times the price earnings ratio. The price earnings ratio of the joint stock company is 13.43 times, and the flying price is 16.57 times the price earnings ratio, which is lower than the average earnings level of the industry.

Take the dragon meat as an example, its "agricultural and sideline processing industry" industry, as of June 13th, the average price earnings ratio of the industry in the latest month is 23.01 times. It is also worth mentioning that Feitian integrity belongs to the "software and information technology services industry" as of June 13th, the CSI industry has published an average of 52.03 times the average static P / E rate in the last month. The issue price of 33.13 yuan / share corresponds to the 2013 diluted earnings ratio of 16.57 times, and is expected to become a popular hot purchase stock.

In addition, Feitian integrity has become the only company in the 4 new stock companies that has special transfer of old shares, and the old shares have transferred 3 million 750 thousand shares.

New enthusiasm for investors

The current round of IPO issued at a low price. After the listing, there was a lot of speculation.

Huatai Negotiable securities Feng Wei said that the first round of the 48 companies opened the first day of the first round this year, the increase was basically around 20%, and the closing price rose by 42.75%. On average, 48 new listings rose nearly 70% after 5 days. Due to the low issuance price, most agencies expect the increase in the current round of IPO will exceed the previous round.

How to choose new investors? CICC believes that based on market interest and hot spots, Feitian's information security industry will benefit from the policy direction. The company's performance in the past 4 years has continued to grow and the market attention may be relatively high. Shenyin Wanguo expects that the final success rate of Xuelang environment, Longda meat, Lian Ming shares and Feitian integrity is 1.11%, 1.56%, 1.79% and 1.62% respectively.

In order to improve the success rate, CITIC suggests that investors can choose the target stocks according to the following four rules. One is to avoid hot stocks and choose relatively unpopular stocks; the two is to target clearly, to focus on funds to attack 1-2 stocks, especially large cap stocks; three, to choose cautiously to strike a new point, between 10:30 a.m. and 11:15 p.m. and from 14 to 14 p.m., with a relatively high probability of signing the contract, and four to indirectly fight for new shares by means of funds.

　 The withdrawal of funds made the market weaker.

Yesterday, the Shanghai and Shenzhen stock markets fell slack, especially the gem index fell 1.3%, and the second share market also generally fell, which was considered to be related to the outflow of funds caused by the purchase of new shares.

Shenyin Wanguo said that when the IPO entered the purchase stage, the number of funds diverted would become an important factor affecting the market outlook. In January this year, the rise and fall of the two tier market was highly related to the rhythm of the IPO purchase.

Huatai Securities believes that since the beginning of this year, 48 newly issued new shares have been issued, and the total amount of frozen funds is about 12737 billion yuan under the Internet and the net. The total amount of actual fund-raising is 22 billion 400 million yuan, and the frozen funds are nearly 60 times the actual fund-raising amount, with an average winning rate of 1.75%. According to the forecast of the previous IPO, 43 companies have planned to raise 21 billion 800 million yuan and expect to freeze 1 trillion and 300 billion yuan.

What is the impact of the new round of low price issuance of IPO? Huaan Securities said that the IPO system will not turn to the registration system in an all-round way, and the valuation system of A shares will not change very quickly.

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Tips for new shares today

Public information shows that the issuing price of Xuelang environment is 14.73 yuan / share, and the P / E ratio is 22.17 times, and the purchase is 500 shares with a maximum of 8000 shares. Longda meat issue price is 9.79 yuan / share, price earnings ratio 19.58 times, purchase 500 shares, the maximum should not exceed 21500 shares. The issue price of Lian Ming shares is 9.93 yuan / share, and the P / E ratio is 13.43 times. The purchase of 1000 shares should not exceed 8000 shares. The price of flying integrity is 33.13 yuan / share, and the P / E ratio is 16.57 times. Purchase 500 shares, the upper limit should not exceed 9000 shares.

According to the revised related purchase rules promulgated by Shanghai and Shenzhen Stock Exchange in May 9th, investors can apply for the corresponding new shares so long as investors hold shares of corresponding market value before May 17th. Among them, the Shanghai stock market can purchase 1000 shares for each new stock with a market value of 10 thousand yuan, and the stock market in the Shenzhen stock market can purchase 500 shares for each new stock with a market value of 5000 yuan.

Hybrid funds Lurk "fight new"

A number of listed companies will launch the A share issuing process this week, marking the second round of IPO gate opening. It has also become an exciting point in the current depressed market.

WIND data show that the first batch of 48 new listings on the first day of the year increased by an average of 42.75%, and the average increase in the 3 months after the listing reached 70.57%.

According to the latest regulations of the SFC, the placing under the network is shares At least 40% of the funds should be allocated to the public fund and the social security fund. This makes the public fund as the public investment opportunity to get the relative protection, and greatly improves the proportion of the public fund raising. In the first round of IPO issuance this year, the number of public offering funds under the network was 345 times. The number of mixed funds was 150 times. Compared with other types of funds, they have obvious advantages in terms of asset allocation and policy specification.

If the stock fund has 80% of the stock bottom requirement, plus the necessary 5% deposit to deal with the daily purchase and redemption, the position is quite limited. Bond funds have 80% positions to invest in bonds, excluding 5% of bank deposit demand, leaving 15% of the funds to fight new shares. The positions of hybrid funds can be in the range of 0% to 95%, minus 5% of the demand for redemption funds. At most, 90% of the funds can be used to fight new shares. When the market direction changes, they can invest in other fields.

From the perspective of fund type, mixed funds and guaranteed funds are the best choice for investors to borrow new ways. This advantage is also evident in fund raising. According to statistics of financial and exchange data, in the past 3 months, a total of 38 products were issued by hybrid funds, and the scale of fund-raising was close to 40 billion yuan, accounting for half of the initial fund raising of the new fund in the same period.

Insiders pointed out that the current new policy has increased the difficulty of ordinary investors. Data show that from the IPO restart in July 2009 to the IPO suspension in November 2012, the average success rate of retail investors is only 1.46%, while the agency is 7.71%. For individual investors, it is wise to borrow funds to participate in the fight against new challenges. (Zong He)

　 PWC: China's banking industry is facing challenges

PWC yesterday released the "retail banking outlook 2020 - progressive development or radical reform" report. The report shows that 55% of bank executives believe that non-traditional market participants pose a threat to traditional banks, and 31% of respondents believe that this indicates innovative cooperation opportunities. If the traditional banking industry can make effective changes and absorb the expertise of the new operators of the financial services industry, PWC has conservatively estimated that the total revenue of the entire banking industry will therefore increase by about 200 billion yuan in 2020.

PWC China Finance Zhang Lijun, partner of management consulting, said: "the general cost of China's retail banking industry has been rising in the past few years under the general trend of interest rate liberalization in the traditional extensive mode of operation. Changing customer behavior, customers become increasingly mature, higher requirements, and lower loyalty, more emphasis on efficiency and experience, and a great challenge to the fine customer management of banks.