Securities Times Network () October 23

The new session of the audit committee rigorously digs the details and loves to ask questions into an audit style.

In the past week, the newly appointed audit committee handed over the transcripts of the first show, reviewed 8 applications for listed companies in the week, and 2 were rejected. The IPO adoption rate was 75%, slightly lower than the previous approval rate. Judging from the inquiries of the audit committee, the problems of each of the first-time enterprises will be concentrated in 4-5, and the company's sustained profitability, related party transactions, performance, customer rationality, and internal control are the focus of attention.

An investment banker from North China said that the inquiry of the new trial committee is more meticulous. The rationality of grasping the details, asking questions, and exploring the content of information disclosure has become the key. The sustainable profitability is still the decision of the company. Determining factors, the queuing companies still need to train their internal strengths to ensure that there are no hard injuries in the performance disclosure.

Luzhou Bank plans to issue H shares in Sichuan

The Securities Times reporter was informed that the Cangzhou City Commercial Bank (hereinafter referred to as “Zhangzhou Bank”) recently held the first extraordinary shareholders meeting in 2017 to review and approve the series of proposals on the issuance of H shares and listing in Hong Kong.

This is the second local corporate bank in Sichuan Province that officially disclosed the IPO intention. Previously, Chengdu Bank had been listed in the A-share bank for a long time, and it is currently in the state of “pre-disclosure update”. The two banks will also compete in Sichuan's "IPO first line."

It is worth noting that since the beginning of the year, 12 new banks have officially announced their listing intentions through the resolutions of the shareholders' meeting and the registration of the counseling and filing, and the local banks have expanded to nearly 50.

Beijing New Building Materials 000 786 research institutions cooling, attending the most popular stocks

Last week (October 16 to 20), the market continued to adjust. The Shanghai Composite Index fell 0.35% on the week, and the GEM index fell 2.38% over the same period. In addition, the disclosure of the three quarterly reports has gradually reached a peak, and institutional research has also continued the post-holiday cold-selling situation. In the week, only 30 A-share companies disclosed research records.

In terms of market performance, among the research companies, about 10 companies rose in the week. Among them, Beixin Building Materials rose the most, rising 12.49%. Followed by the three-six-five network 300295, the stock , the weekly increase of 12.05%. Industry, nonferrous metals sector research obtained the greatest number of companies, including clouds of metal 002182, attending shares, 002,295 shares of fine arts, attending shares, 002,824 shares and wins, attending shares, 000,960 shares Tin, diagnosis and Yunnan Germanium 002,428 shares, attending shares of other companies. In addition, the electronics, machinery and other industries have also gained more attention.

Beixin Building Materials received 4 batches of research last week, which is most favored by institutional investors. On October 16 alone, the company received 3 batches of institutions, including Guotai Junan 601211, about 40 well-known institutions such as Diagnostics , Harvest Fund, ICBC Credit Suisse, and Qianhai Life Insurance. On October 18th, Beixin Building Materials also won a joint investigation of the China-Europe Fund, Haitong Securities 600837, the Diagnostic Unit and the Haifutong Fund.

This week's lifting of the banned market value of 43.2 billion yuan was reduced by more than 30%.

According to the arrangement of the Shanghai and Shenzhen Stock Exchanges, the restricted shares of 27 companies in the two cities were banned from listing and circulation this week. The number of banned shares totaled 2.961 billion shares, accounting for 0.35% of the unreleased restricted A shares. Among them, the Shanghai Stock Exchange was 1.652 billion shares, accounting for 0.42% of the total number of restricted shares in Shanghai, and 1.309 billion shares in Shenzhen, accounting for 0.29% of the total number of restricted shares in Shenzhen. The market value calculated based on the closing price on October 20 was 43.256 billion yuan, accounting for 0.35% of the A stock market value of the unreleased company.

Among them, 9 companies in Shanghai stock market were 22.25 billion yuan, accounting for 0.08% of the stock market A stock market value; 18 companies in Shenzhen market were 210.06 billion yuan, accounting for 0.12% of Shenzhen Stock Exchange's stock market value. This week, the number of banned shares in the two cities was 4.292 billion shares, down by 1.292 billion shares from 56 companies in the previous week, a decrease of 30.38%. The market value of the lifting of the ban this week was 26.814 billion yuan less than the previous week's 64.88 billion yuan, a decrease of 33.33%, which was a low level in 2017.

Multi-party competition for trillions of housing rental market

Housing leasing will gradually become an important part of China's housing system, which has become the consensus in the industry. Faced with the market potential of the trillion-level forecast by research institutions, not only the benchmark housing companies and intermediaries are actively deployed, but also the giants such as Alibaba, UnionPay and state-owned commercial banks have also stepped in, making the future development of the housing leasing market “more attractive”. head".

In the eyes of the industry, the strong intervention of the Internet giant, the most affected will be two types of enterprises: First, the real estate e-commerce platform that collects port fees as a profit point. Before Alipay enters, the use of second-hand or leased listings on such e-commerce platform companies is subject to port fees. Now, Alipay's zero cost and long-rent apartment brand cooperation, its powerful traffic import capability is unmatched by other real estate e-commerce platforms.

Second, the low-end leasing business of traditional intermediary such as Zhongyuan Real Estate and Chain Home will also be affected. In the housing leasing market, single-person young people with low income levels are a large leasing group and are the main target group of the long-term rental apartment market. Long-term rental apartments generally provide a small single-suite source, centralized management, brand operation, and transportation facilities are more suitable for young people to work. Choosing between long-rent apartments and individual landlords “old and small” listings, more young tenants prefer long-term rental apartments. After this part of the demand is diverted, the traditional intermediary leasing business will inevitably be affected.

Institutions focus on three quarters of reportable stocks

Affected by the three quarterly report window period, the recent investigation of the listed companies' company's popularity has dropped significantly. Oriental Fortune 300059, the results of the diagnosis of the results show that as of press time, only 32 companies in the two cities disclosed the institutional research records of last week. From the perspective of the research path, the organization closely follows the market style of “performance is king”, and many companies with three quarterly results of growth or pre-increased are subject to institutional research.

BOE A 000725, attending stocks last week received a total of 58 research institutions, a listed company's most agencies concerned. In the research records disclosed by the company, the first item of communication between the two parties is the performance of the three quarterly reports. According to the company, the net profit attributable to shareholders of listed companies from January to September 2017 is about 6.2 billion yuan to 6.5 billion yuan (previous year: 141 million yuan). The third quarter of 2017 is expected to belong to listed companies. The net profit of shareholders was about 1.9 billion yuan to 2.2 billion yuan, which was continuously improved compared with the second quarter. In the third quarter, the company continued to strengthen lean management, product yield and quality continued to improve, the introduction rate of high value-added products and shipments increased significantly, and the company's overall profitability remained stable at a high level. In addition, the semiconductor display industry's business climate is relatively high compared with the same period of last year. The company's operating results in the first three quarters increased significantly compared with the same period last year.

After the two-section wine business, the price increase is high, and the high-end wine price space opens.

Last week, life insurance, liquor, radio services, rare metals, hypermarkets and supermarkets, coal and consumer fuels, airport services, semiconductor products, air cargo and express delivery, investment banking and brokerage ranked in the top 10. Among them, the railway transportation and aluminum industry industries quit the top 10 last week. The top 10 semiconductor products, air cargo and express delivery industries ranked 8th and 9th respectively.

The liquor industry has continued to rise in the rankings in the past week and is currently ranked 2nd. Before and after the double festival, the wine companies are now rising. CITIC Securities 600030, attending shares, said price increases up further confirm the industry boom, high-end liquor price open space. First of all, the wholesale price of Maotai has rebounded, and the high-end wine price is still expected to be good. Secondly, the recent price increase further confirms the continued prosperity of the industry as a whole. Finally, pay attention to the continued decline in the rate of liquor companies after the price increase, and the expected price increase of the ex-factory price. The tide of liquor price increase brings short-term positives and continues to be optimistic about the New Year's market. In the long run, it will help to sort out the brand structure, rationalize the channel price difference, and boost the channel power. Individual stocks: continue to be optimistic about leading companies in the high-end liquor industry. Recommended target: Guizhou Maotai 600519, diagnosis stock , Wuliangye 000858, diagnostic stock .

There is a change in the taste of public offerings: adjusting the "cycle" layout of the warehouse "growth"

With the gradual disclosure of the three quarterly reports, the path of public fund raising has surfaced. As of the 20th, a total of 280 listed companies disclosed the third quarterly report, among which 113 of the top ten shareholders of listed companies appeared public fund. Judging from the disclosed situation, the public offerings generally prefer cyclical industries in the third quarter. However, the China Securities Journal reporter found that the non-ferrous metals, steel, chemicals, building materials and other sectors began to show signs of profit-taking. Since the fourth quarter, the main funds have been sold off, and some of the growth stocks with inflection points have regained favor.

Analysts believe that, unlike the previous three quarters, the trading opportunities based on industry rotation or theme rotation in the fourth quarter are relatively limited. Finding the varieties with better performance growth in the future is the key to investment before the year.

QFII appeared in 19 listed companies involved in large consumer areas such as building materials and home appliances

The data shows that as of the 20th, QFII appeared in the list of the top ten tradable shareholders of 19 listed companies, holding a total of 237 million shares with a market capitalization of 6.237 billion yuan. From the perspective of industry attributes, these stocks mainly involve large consumer areas such as building materials, home appliances, pharmaceuticals and electronic equipment.

Specifically, in the third quarter, QFII entered Ningxia Building Materials 600449, Diagnostics , Fuling Power 600452, Diagnostics , Focus Technology 002315, Diagnostics , Dongyin 002793, Diagnostics , Best 300580, Diagnostics , Beijing Culture 000802, Diagnosis top ten tradable shareholders list shares and other six stocks. Meanwhile, Wells Fargo Asset Management (Hong Kong) Co., Ltd. Qixia construction of 600,533 new entrants into the top ten tradable list of shareholders attending stocks. Previously, the stock has been held by another QFII agency, the UBS Group. Power Corporation of Canada En Hua Pharmaceutical 002,262 new entrants to the top ten list of tradable shareholders attending shares, after Goldman Sachs holds more than 20 million shares.

QFII has always been known for its value investment and long-term layout. Historical data shows that the future performance of QFII Awkwardness is mostly better than the market. Analysts pointed out that with reference to the investment path of QFII, ordinary investors can follow the layout or share growth opportunities.

Public fund jiacang leading stocks

According to wind data statistics, as of the 20th, a total of 280 listed companies disclosed three quarterly reports, among which 113 listed companies appeared public fund, and a total of 16 listed companies were publicly funded by public funds.

From the stocks, the listed companies in the third quarter of the public funds accounted for more than 10% of the shares of the shares are Vantage 002035, diagnostic stock , Blue Flame Holdings 000968, diagnostic stock , Sanshu 603737, diagnostic stock , Oriental fashion 603377, diagnostic stock Kairun shares 300577, diagnostic stocks , Gudi technology 002694, diagnostic stocks , accounting for 16.45%, 15.48%, 14.37%, 11.76%, 11.21% and 10.63% of the shares , respectively, belonging to home appliances, petrochemicals, education, etc. Plate. However, the above companies were all reduced in different proportions in the third quarter.

Funds adjust the cycle of stocks in small and medium-sized attention

In the first half of the year, the “one-ninth market” of the A-share market was obvious, and many funds with heavy-duty cycle stocks earned a lot of money. However, in terms of the configuration of the third quarter, some funds have already begun to take advantage of high profits, and some funds have shown signs of growing up to growth stocks.

Wind data statistics, compared with the increase of up to 20 million shares of individual stocks, the extent of public fund holdings of listed companies is not small. At present, the top five listed companies that have been most reduced by public funds are Huatian Technology 002185, Diagnostics (with 312 million shares reduced), China Jushi 600176, Diagnostics (with 308 million shares reduced), and Sanhua Zhikong 002050. Diagnostic stocks (reduction of 292 million shares), Lixun Precision 002475, diagnostic stocks (reduce 288 million shares), Oriental Garden 002310, and diagnostic stocks (reduction of 212 million shares), respectively, the proportion of outstanding shares decreased by 14.64% compared with the previous period. 10.55%, 18.68%, 15.94%, 13.92%. From the perspective of the industry, the top 20 listed companies with the largest number of reductions are in the consumer electronics, building materials, pharmaceutical, food, military and other industries.

A number of companies increased their net profit in the first three quarters

A number of companies released three quarterly reports on the evening of October 22, showing a significant increase in net profit in the first three quarters of this year.

Sea of shares 601 678, three quarters reported attending shares, the company 1--9 Yuefen net profit attributable to shareholders of listed companies 5.6 billion, an increase of 300.82 percent; operating income of 4.587 billion yuan, an increase of 36.80%. Ocean King 002 724, consultation shares three quarterly, the company first three quarters of net profit of 66.7484 million yuan, an increase of 234.2%; operating income of about 661 million yuan, an increase of 19.54%. The company expects net profit for 2017 to be 120 million yuan to 170 million yuan, a year-on-year increase of 7.88%-52.82%. Cross-border pass 002,640, clinics shares three quarterly, the first three quarters the company achieved net profit of 495 million yuan, an increase of 81.54%; operating income of 8.74 billion yuan, an increase of 58.17%. The company expects net profit for the full year of 2017 to be 709 million yuan - 287 million yuan, an increase of 80% -110%.

The heating season is coming to the methanol price support

Since September, the price of methanol futures has faltered, mainly due to the accumulation of inventory caused by the inversion of prices between the port and the mainland. Recently, the price of methanol has stabilized and rebounded. Analysts pointed out that methanol is currently in the reverse market, that is, the spot price is higher than the futures price, which is conducive to destocking at the spot end. It is expected that the short-term methanol price will remain weak. However, with the advent of the heating season, supply will shrink in the fourth quarter, and prices are expected to be supported.

30 companies in the third quarter report the current brokerage figure with more than 1 billion yuan to open 9 potential stocks

All along, with strong research teams and research capabilities, the targets held by major brokers in heavy positions are often receiving special attention from the market. "Securities Daily" Market Research Center, according to flush 300033, clinics shares statistics found, along with three quarterly disclosure of listed companies, as of last Saturday, there are 30 companies in Shanghai and Shenzhen end of the third quarter, the top ten tradable shareholders appear The figure of the broker.

Specifically, as of the end of the third quarter, brokerages held a total of 359 million shares of the above 30 stocks, corresponding to a stock market value of about 4.427 billion yuan. Among them, the central shopping mall 600280, diagnostic stocks (432 million yuan), Antong holding 600179, diagnostic stocks (372 million yuan), China Boulder (356 million yuan), Moen Electric 002451, diagnostic stocks (328 million yuan), Qi Xiang Tenda 002408, diagnostic stocks (318 million yuan), Jiangzhong Pharmaceutical 600750, diagnostic stocks (290 million yuan), Sanhua Zhikong (271 million yuan), Qixin Group 002301, diagnostic stocks (266 million yuan) and other 8 stocks At the end of the third quarter, the brokerage stocks held more than 200 million yuan.

It is worth mentioning that among the above 30 stocks, 9 stocks are newly held by brokers in the third quarter. These 9 stocks are: China Jushi, Yabang 603188, Diagnostics , Bairun 002568, diagnosis Stocks , Zhongnan Culture 002445, Diagnostics , Julong 300202, Diagnostics , Kangsheng 002418, Diagnostics , Bohui Paper 600966, Diagnostic Unit , Laimei Pharmaceutical 300006, Diagnostics , Nanling Civil Explosion 002096, Diagnosis Shares , the total stock market value at the end of the third quarter was about 1.035 billion yuan; in addition, the new energy energy 600777, diagnostic stock , central shopping mall, Qixin Group, Qixiang Tengda, Antong Holdings, Jiangzhong Pharmaceutical, Sanhua Zhikong, Tianmu Medicine 600,671 industry, attending shares, 002,755 Eastern star, attending shares, Cangzhou Mingzhu 002,108, attending stocks, three-dimensional engineering 002469, attending stocks 11 stocks in the third quarter were also subject to varying degrees of securities holdings, holdings worth about 763 million yuan part .

(Securities Times News Center)

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