After experiencing an over-fall of 4% the previous day, the Beijing Stock Exchange 50 Index bucked the trend on the 10th, rising more than 2% intraday at one point, and rose 1 as of **01%。190 of the 240 on the Beijing Stock Exchange, Gaishi Food once rose more than 21%, *1309%。Industry insiders believe that the valuation of the Beijing Stock Exchange has ushered in a systematic revaluation.
The three major sectors form the main force.
On the 10th, 190 of the 240 ** on the Beijing Stock Exchange***48***2** were flat. Gaishi Food opened low and went high, with an intraday increase of more than 21%, and finally 1309% increase**, ranking first on the Beijing Stock Exchange**. Fangda New Materials rose at the end of the day, as of ***1123%；Taihu Snow, Runpu Food, and Hongzhi Technology are respectively ** 51%. Huifeng Diamond, a constituent stock of the Beijing Stock Exchange 50 Index, rose 1047%。In addition, 22 stocks such as Knight Dairy and Guangsha Huanneng rose by more than 5%.
In terms of industries, among the 190 stocks on the Beijing Stock Exchange on the 10th, the industrial, materials and information technology sectors became the main force, with 52, 43 and 43 respectively.
Fangda New Material's main business is the production, sales and research and development of adhesive materials for logistics express packaging, including adhesive bags, waterproof bags, bubble bags and variable information logistics standards, is one of the main adhesive bag products in the Asia-Pacific region, and is one of the early independent research and development of plastic packaging and adhesive products in the logistics express industry.
The main business of Gaishi Food is the research and development, production and sales of prefabricated cold dishes such as marine food and edible fungus food, and the products are exported to more than a dozen countries and regions such as Japan, the United States, Canada, Germany, Spain, and Singapore.
Huifeng Diamond is mainly engaged in the development and operation of diamond powder, and is the executive director unit of the Superhard Materials Branch of China Machine Tool Industry Association, and a national high-tech enterprise. The company's products of various brands sell well in domestic and foreign markets, and more than 60% of the products are exported to Europe, the United States, Japan, South Korea, India and Southeast Asian markets, and the export volume is increasing year by year.
Valuations will undergo a systematic revaluation.
Under the recent market enthusiasm, the valuation of the Beijing Stock Exchange** has been significantly repaired. The reporter of "Dazhong** Daily" found through wind statistics that as of the 10th, the price-earnings ratio of 64 ** stocks increased by more than 100% compared with the initial launch. In addition, 62** P/E ratios are still to be repaired.
Zhu Haibin, general manager of the Beijing Stock Exchange Research Center, believes that after the implementation of the "19 deep reforms", it is changing from quantitative to qualitative, and the Beijing Stock Exchange has also integrated from the previous relatively isolated market to the A-share system. Since the second half of 2023, the listing and acceptance of the Beijing Stock Exchange have maintained a high speed. With the smooth transfer system of the Beijing Stock Exchange, the support of the direct connection mechanism for the self-listing of advantageous enterprises on the Beijing Stock Exchange, and the exploration and implementation of the direct IPO system of the Beijing Stock Exchange, the overall valuation center of the Beijing Stock Exchange market is facing redetermination.
In addition to the repair of valuations, the average daily turnover rate of the Beijing Stock Exchange has also increased significantly. On the 10th, 49 of the 240 ** on the Beijing Stock Exchange had a turnover rate of more than 10%, and 3 of Taipeng Intelligence, Liwang Shares, and Sunny Seiko had a turnover rate of more than 50%. In the last two trading days of October 2023, only the turnover rate of Liwang shares reached 5024% and 2841%, in addition, Keqiang shares, visual sound intelligence, and Dingzhi Technology 3** have a turnover rate of more than 10% on October 30, 2023.
Zhu Haibin said that with the construction and development of the market, the difference between the turnover rate of the Beijing Stock Exchange and the innovation and innovation has decreased year by year, and the turnover rate in 2023 is almost on par with the Science and Technology Innovation Board. The institutional research coverage of listed companies on the Beijing Stock Exchange has increased from 1625% to 2917%, after mainstream investment institutions increased their research on listed companies on the Beijing Stock Exchange, the research coverage of the Beijing Stock Exchange has gradually improved. The effective rating covers the proportion of companies listed on the Beijing Stock Exchange from 1625% to 29. on January 6, 202417%。It can be observed that after the release of the "19 Articles of Deep Reform" on September 1, 2023, and after November 2023**, the research coverage increased rapidly. After the increase of mainstream investment institutions, the research on listed companies on the Beijing Stock Exchange has become poor, and the Beijing Stock Exchange may usher in the second step of systematic revaluation, which will be promoted step by step.
Shenwan Hongyuan believes that in the medium term, the overall environment in the first half of 2024 is still conducive to the Beijing Stock Exchange market. There are many policies and industrial catalysts in the field of science and technology, the current Beijing Stock Exchange **PE is still lower than that of entrepreneurship and innovation, there is no obvious bubble, more than 70% of the market value of the Beijing Stock Exchange companies is less than 2 billion yuan, and there are still opportunities for scientific and technological revaluation; The centralized release of policies, such as board transfer, direct IPO, and ** exchange, will also catalyze the market; The trend of positive inflow of funds remains unchanged, the opening of new products and public investment rights of the Beijing Stock Exchange is on the way, the chip structure of the Beijing Stock Exchange is better, and the market is still active. On the whole, the Beijing Stock Exchange is still a better direction of "offense and defense".
Reporter Zhu Rong.