Securities Times reporter Zhang Juanjuan
Looking at the global capital market in 2021, the S&P 500 and Nasdaq Index annual increase exceeded 20%. A-share market is calm, and the Shanghai Composite Index annual growth rate is less than 5%. The plain
index does not mean that the A-share market has poor money-making effect. According to statistics from Databao, the annual growth rate of more than 40% of industries in 2021 exceeded 10%, while the annual growth rate of cyclical industries such as coal and chemical industry exceeded 35%. Excluding new stocks, the number of doubled stocks exceeded 2020, with as many as 323. In terms of valuation of
, the latest rolling price-to-earnings ratio of the Shanghai Composite Index is less than 15 times. Compared with overseas markets, this valuation level is relatively low and the investment value is revealed. The internationalization process of
has accelerated
QFII, interconnection, Shanghai-London Connect and other foreign investment channels have been opened one after another. Since A shares have been included in important international indices such as MSCI and FTSE Russell , the internationalization process of A-shares has been further accelerated.
Databao statistics show that as of the end of the third quarter of 2021, the total market value of domestic stock assets held by overseas investors entering the A-share market through QFII and the Mainland Stock Connect channels was close to 3 trillion yuan, an increase of 14.19% from the end of 2020. The market value of foreign-funded holdings accounts for 4.06% of the total market value of A-shares, exceeding insurance funds and private equity funds , an increase of 0.35 percentage points from the end of 2020.
From the perspective of foreign investment composition, the latest holdings of northbound funds have exceeded 2.7 trillion yuan, and have been in net inflow for 15 consecutive months. The net inflow amount in 2021 hit a new record high, exceeding 430 billion yuan. The market value of QFII holdings is as high as 281.408 billion yuan, an increase of 8.15% from the end of 2020.
Top 20 potential stocks in 2022 were released.
Databao comprehensively sorts the above-mentioned investment logic, institutional ratings, institutional forecasts, financial indicators, policy trends and other multi-dimensional indicators. The statistical standards include but are not limited to the following aspects: stocks are leaders in the sub-sector fields and are located in a high-quality track with national strategic tendencies, and their valuations are at a relatively low level in the industry; return on equity from 2018 to 2020, cash dividend ratio from 2019 to 2020, institutional consensus forecast growth in net profit attributable to shareholders from 2021 to 2023, the number of recommended institutions for "buy" ratings, and the proportion of goodwill in reverse indicators to total assets.
has been comprehensively sorted, and the top 20 potential stocks are released in 2022, distributed in 11 industries, with a market value of mostly less than 50 billion yuan, and the mechanical equipment, communications and electrical equipment industries have been selected for stocks. In terms of market performance, the average increase of the top 20 potential stocks in 2021 was more than 20%, outperforming the Shanghai Composite Index by more than 15 percentage points during the same period. In terms of individual stocks, 60% of them rose by more than 10% in 2021, while Huace Navigation and Star Semiconductor were relatively ahead, and the two individual stocks rose by more than 55% in 2021.
's top 20 potential stocks are high-quality leaders in the sub-track track, with strong resistance to declines. The latest price has an average drawdown of less than 30% compared with the highest price since 2020, and the five stocks have withdrawn less than 15%, including Yiyuan Communications, Philips, etc.
investment return is nearly twice that of the overall A-share level
focuses on high-quality development and pursues steady growth. The outstanding performance of the top 20 potential stocks is related to their stable investment returns and their continuous high growth performance.
From 2018 to 2020, the return on net assets of potential stocks ( median ) exceeded the overall level of A-shares. In 2020, under the influence of the epidemic, the median return on net assets of the top 20 potential stocks was 17.5%, nearly twice the overall level of A-shares (less than 10%). Among the potential stocks, the return on equity of six stocks including Jianfan Biologics and Shangji CNC exceeded 20% in 2020.
potential stocks are expected to grow in the future. Institutions unanimously predict that from 2021 to 2023, the median net profit growth of the top 20 potential stocks will exceed 30%, exceeding all A-shares by nearly 10 percentage points. Among them, the median net profit growth in 2021 exceeds 50%, and the net profit of individual stocks such as Huafeng Measurement and Control and Triangle Defense may double.
6 stocks have cash dividends of more than 30% for three consecutive years. The top 20 potential stocks have paid a total of 8.9 billion yuan from 2018 to 2020. The four stocks, including WuXi AppTec, Huichuan Technology and Jianfan Bio, all have accumulated dividends of more than 1 billion yuan in the past three years, of which WuXi AppTec has exceeded 2.1 billion yuan.
In terms of cash dividend ratio, the average dividend ratio of the top 20 potential stocks from 2018 to 2020 exceeded 35%.The cash dividend ratio of the six individual stocks exceeded 30% for three consecutive years, among which Jianfan Bio's shareholders have the strongest sense of return, exceeding 60% for three consecutive years; the cash dividend ratio of the individual stocks such as Bafang Co., Ltd., Sanren, and Guangda Special Materials exceeded 45% in 2020.
9 shares have high attention in the latest ratings of
securities institutions, the ratings of the top 20 potential stocks are mainly "buy" and "increase holdings". Since last year, a total of 4,023 institutions have been surveyed, and Huichuan Technology and Huafeng Measurement and Control Research institutions have exceeded 1,000. 15 stocks received a "buy" rating from more than 5 institutions, among which 9 stocks including WuXi AppTec, Huichuan Technology, and Aier Eye Hospital were awarded a "buy" rating from more than 10 institutions.
From the perspective of institutional recommendation reasons, performance exceeding expectations is the most common recommendation logic, such as high-quality leaders such as WuXi AppTec and Aier Eye Hospital. Stocks such as Huichuan Technology and Star Semiconductor benefited from the improvement of the industry's prosperity, while stocks such as Yiyuan Communications and Jianfan Biotechnology have strong products leading the market and have market share leading peers. Supported by
, the top 20 potential stocks are favored by social security, QFII, securities companies, funds and other institutions. According to the third quarter report of 2021, the top 20 potential stocks have received 2,300 institutions with , 7 individual stocks including Aier Eye Hospital have received more than 50 institutions, and Star Semiconductor and Aier Eye Hospital have received more than 2 QFII shares.
From the perspective of institutional shareholding ratio (excluding general legal persons), the average proportion of institutions holding the top 20 potential shares is 21%, and the proportion of controlling the market is relatively high; among which, the proportion of controlling the market in institutions such as Xindashen and WuXi AppTec exceeds 30%, and the proportion of controlling the market in seven stocks including Huichuan Technology exceeds 20%.
(The special data of this edition is provided by the Securities Times Center database.)
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