IPO Accelerates Or Has A Certain Impact On The Market.

The meeting is over now.

A total of 30 companies, 11 of which are historical issues, are hard to issue, and the other 19 companies have been examined by the SFA board of audits this year. They are judged to be more likely to become the two month IPO issuing companies in the year.

According to the speed of new shares issuing and the number of alternative companies in the second half of the year, the speed of issuing new shares is expected to accelerate at the end of the year, and the monthly issue will be around 20.

Of the 19 companies that have been listed but not listed this year, 9 of them are expected to sprint the motherboard, 6 are listed on the gem, and only 4 are listed on the SME board.

From the financing point of view, the main board company intends to raise more than 10 billion yuan, accounting for about 72% of the total amount of the 19 companies.

If the speed of issuing new shares remains unchanged, it is estimated that the total amount of funds raised in 11 and December will exceed 15 billion yuan. The total amount of monthly fund-raising will be higher than the average level of the new batch stocks since June. As the monthly issue of new shares is more intensive, and the speed of IPO issuance is expected to accelerate, it may have a certain impact on the market.

According to the industry, 11 of the 19 enterprises belong to the manufacturing industry, 3 belong to scientific research and technical services, 2 belong to the mining industry, pportation, warehousing and postal services, wholesale and retail businesses, and water conservancy, environmental and public facilities management respectively have 1.

In the subdivision industry, we can focus on medicine, software and information technology services, as well as ecological protection and environmental management.

This year, the average price increase of new issue is higher than that of the new issue. The success rate of new shares has continued to decline significantly, resulting in a certain impact on the new rate of return.

But the earning effect of new shares is still in effect. Therefore, in addition to maintaining a positive purchase strategy, it is recommended to pay close attention to enterprises with better fundamentals in the future.

In this year's listed companies, the fastest growing companies are Dow shares and Liuzhou pharmaceuticals. In 2012, the operating revenue growth of ~2013 was 17.21% and 46.23% respectively, and 30.42% and 27.82% of Liuzhou pharmaceuticals respectively.

Combined with gross margin and asset liability ratio, we can focus on Vigna S, Hainan mining and Fangsheng pharmaceuticals.

The gross profit margin of 3 companies in 2011 ~2013 was far above the average level of the same industry. Since 2013, its sales growth has remained at around 20%, and the asset liability ratio has remained at a low level.

On the whole, the above companies are better in fundamentals and can be more concerned in the future.

This strong rebound is expected to come mainly from 3 aspects: 1, market incremental capital intervention is stronger than expected.

As the central government expresses its importance to Shanghai and Hong Kong, it will continue to promote relevant work, dispel market doubts and make the industry such as finance clear up. 2, from a broader perspective, there is still strong support for the 60 day moving average and more than 2300 points, and it is expected that the market will be stronger for the time being.

Market style is likely to shift from growth oriented small cap stocks to undervalued blue chips, making structural risks of high valuation small cap stocks, such as gem, appear.

In addition, we should pay close attention to the low market rate of small cap companies in traditional industries and consumer industries.

Recently, the announcement of the executive meeting of the State Council shows that the current government is changing its thinking.

On the one hand, to discuss the introduction of private capital in the fields of electricity, telecommunications, railways and other fields, the investment and financing system which relied mainly on finance, land and credit in the past has been unsustainable. We hope to gradually increase the proportion of private capital investment through the liberalization of industrial monopoly, enhance the efficiency and development of the industry, and underpin the economy.

I believe that in Shanghai and Hong Kong is expected to start from the same background, is expected to start before the A share market is still short term support, but the index will not be too large for the space.

Since the market began in November, there has been a large structural risk. The overvalued value of small cap stocks has a larger probability of adjustment, and it is expected that there will be obvious differentiation in the future.