Jiangsu Guotai performance report shows that the company's net profit in 2020 is expected to be 1.002 billion yuan, a year-on-year increase of 6.8%, and earnings per share is 0.64 yuan. Currently, the market value of Jiangsu Guotai is 10.3 billion, with a price-to-earnings ratio of about 10 times, and is in the undervaluation range. If the annual report dividend exceeds expectations, there will be a chance to promote a wave of valuation repair.
Even if listed companies pay dividends according to previous levels, the company's net assets will rise to more than 6 yuan after the annual report, and the PB will be reduced to 1.1. The company's main business is imports of textiles, clothing, toys, etc. and domestic trade. It belongs to the light asset industry. Without systemic risks, the stock price will not break the net operation for a long time and has a strong safety cushion. In terms of trading volume, Jiangsu Guotai has recently shown a land volume transaction. The technical side shrank and fell back to the annual line on April 6, and the downward trend has reversed. As long as the volume exceeds the strong resistance level of the 6.60-member line, it will open up the technical side rebound space and have strong offensiveness.
Jiangsu Guotai publicly issued convertible bonds was approved by the Issuance and Audit Committee on March 23. The next step is approved by the China Securities Regulatory Commission. The scale of this convertible bond issuance is 4.557 billion. The current market value of Jiangsu Guotai is 10.3 billion. If the stock is held at 100 yuan, the market value of the stock can be allocated 44 yuan Cathay convertible bonds. The stock has a very high weight.
Shenzhen Stock Exchange first-hand allocation amount requires more than 950 yuan to be fully allocated. The corresponding stock market value is 950/0.44=2159 yuan, the current stock price is 6.63 yuan, and the number of shares required to allocate bonds is 2159/6.63=325 shares. The integer 400 shares corresponds to the market value of the holdings is 400*6.63=2665 yuan.
Cathay convertible bond expected to convert the stock price is 6.8 yuan, the underlying convertible bond value is 96, the expected listing price center is 112 yuan, the bond allocation unit is 120 yuan, the security cushion is 4.5%, and it has a strong bond allocation value. If the market warms up, there is still a chance to emerge from a wave of power grabbing and upgrading!
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