China News Agency, Beijing, April 21 (Reporter Chen Kangliang) On the 21st, two more listed companies in the Chinese stock market fell below the issue price on the first trading day, which means that this week, five companies have suffered a "break" of new shares.
On the same day, Xiamen Jiarong Technology Co., Ltd. was listed on the Growth Enterprise Market. The company's stock issue price was 38.39 yuan (RMB, the same below) per share. However, the stock opened and broke on the same day. As of the close, the stock price reported 34.90 yuan, a decrease of 9.09%. .
Another company that broke was Hubei Zhongyi Technology Co., Ltd., which was also listed on the Growth Enterprise Market, and the issue price was 163.56 yuan per share.
In addition, this week, Fengdao Technology (Shenzhen) Co., Ltd., Shenzhen Yingjixin Technology Co., Ltd., and Beijing Jingwei Hengrun Technology Co., Ltd. suffered a break.
Dong Dengxin, director of the Institute of Finance and Securities of Wuhan University of Science and Technology, told a reporter from China News Agency that during this period, the breakout of new shares has become a new focus in the A-share market, and the breakout rate of new shares listed in April has shown an increasing trend.
It is worth noting that for a long period of time in the past, A shares have been circulating the so-called "new shares invincible" myth, that is, investors subscribe for new shares before listing, and then they can take advantage of the first day of new shares. .
However, this "playing new routine", which is regarded by many investors as "stable profit without loss", seems to be gradually failing, and many new stocks not only did not rise on the first day of listing, but fell sharply.
According to media statistics, as of the 21st, there were 110 newly listed A-share stocks this year, and 31 of them broke on the first day.
Entering April, new shares broke records frequently. At present, there are 24 listed stocks in April, 12 of which broke on the first day, and the break rate reached 50%.
In this regard, Wu Liangqun, executive director of Shenzhen private equity firm Qianhai Dingye Investment Development Co., Ltd., said that there are many reasons for the emergence of this round of new shares. First, with the deepening of the registration system, the supply of new shares has gradually increased, and the market competition It also began to intensify; second, the overall market performance has been poor recently, and investors have a strong wait-and-see mood; third, the new crown pneumonia epidemic has superimposed the external war situation, which affects market expectations; fourth, the price-earnings ratios of these new stocks are generally high, and in the complex economic situation Investors lack confidence in the company's subsequent growth.
Wu Liangqun further pointed out that the implementation of the registration system means that the pricing power will be handed over to the market, and there will inevitably be a painful period of market self-regulation, and new shares will also undergo a process of dynamic balance of valuation.
This is precisely the performance of A shares in line with the international market, and there is no need to be pessimistic in the long run.
Dong Dengxin also holds a similar view. He said that the reform of the registration system has largely changed market expectations, making the pricing of new shares more market-oriented. Is to seriously study whether the fundamentals of new stocks are worth long-term investment.
Under the above circumstances, many institutions have recently reminded investors to do their homework in advance and view the breakout rationally, such as comparative analysis in terms of price-earnings ratio, listing board, and fundamentals.
Taking CITIC Securities as an example, the agency recently issued a reminder that in the face of changes in market conditions, investors should respond more rationally.
It is the correct way to do your homework, make a rational decision, and apply for a purchase calmly before starting a new one.
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