A-share turnover exceeded 30 trillion yuan last month, 141 interim reports may set off a "performance wave"

  Our reporter Wu Shan

  In the second quarter economic data exceeded expectations, A shares continued to rise in July, and investment sentiment increased significantly. Statistics found that out of the 23 trading days in July, the turnover of A shares exceeded one trillion yuan on 20 trading days, and the total monthly turnover was 30.1 trillion yuan, an increase of 108% month-on-month and 230% year-on-year.

  In the eyes of most institutions, in the next month, the market may enter a period of turbulence and digestion of performance, and the overall capital is still beneficial to the stock market. “Due to the existence of policy dividends, the incremental funds that entered the market in the early stage may not be cashed out quickly, but will be adjusted on the market. The investment main line tracked by local power funds is still strong and powerful, and they hold more on the follow-up market. An optimistic view is more confident in the future trend of policy interpretation. Therefore, local strength funds are expected to lead the short-term A-share market to become more active, thereby driving the stock index to further strengthen." Jinbailin Consulting Qin Hong told the "Securities Daily" reporter .

  It is worth mentioning that entering August, the interim reports of listed companies have intensively disclosed, and the probability of performance guiding the market is constantly increasing. "Securities Daily" reporters based on Flush data statistics found that from August 3 to August 8, a total of 141 companies will disclose their 2020 interim results, of which 56 companies have disclosed interim performance forecasts.

  The reporter further sorted out the performance forecasts of 56 companies that have been disclosed in the interim report and found that 19 companies’ performance is expected to increase, 1 company’s performance continues to make profits, 3 companies’ performance has turned around, and 4 companies’ performance has increased slightly. 27 companies, accounting for 48.21%.

  From the perspective of the largest year-on-year increase in net profit, the six companies are expected to double their net profit in the first half of 2020. Ou Feiguang expects a year-on-year increase of 2519% in net profit in the first half of the year; followed by Oriental Bio, expects a year-on-year increase in net profit It is 1294.10%. In addition, Rapoo Technology also predicts that its net profit in the first half of the year will increase by more than 10 times year-on-year, reaching 1123%. Other companies that are expected to double their net profit in the first half of the year include Vitron, Senba Sensing, and Guizhou Tire.

  Deng Yuxiang, director of the equity investment department of Furong Fund, who was interviewed by a reporter from "Securities Daily", said that interim performance will become the main line of A-share investment. From a structural point of view, the recent valuations of leading companies in various industries have been significantly larger than those of small and medium-sized companies. The valuations of some leading companies are already at a high level. It is necessary to pay attention to whether the semi-annual report will have internal valuation convergence in the industry. Value convergence needs to wait for confirmation of the overall recovery of the economy and the industry. At present, it is still recovering from a macroeconomic perspective, but from a cost-effective perspective, small and medium-sized companies that performed well in the second quarter already have certain investment value.

  In fact, the semi-annual report has been quietly launched in the A-share market, and some performance-enhancing stocks have performed well under the approval of funds. Judging from only the 27 pre-happy stocks that will be disclosed in the interim report, since July, a total of 24 stocks have achieved varying degrees of rise, accounting for 88.89%.

  It should be noted that Xia Fengguang, manager of the future star fund of the private equity ranking network, told the "Securities Daily" reporter that the semi-annual performance Nuggets should pay attention to two points. First, due to the impact of the epidemic, the industries with clear growth in the first half of this year are limited, and these Most industries have seen relatively large gains in the first half of the year. Pay attention to the impact of good cash; secondly, whether the growth of interim performance can reflect the competitiveness of enterprises, the sustainability analysis of growth is the most important. (Securities Daily)