QFII Massive Increase In "Small And Medium Sized" Stocks

"Small and medium-sized" listed companies mostly represent some industries of the new economy, and as a representative of the A share market mature and rational institutional investors, why does QFII store up the "small and medium-sized" stocks that make the market love and hate?

2015 semi annual disclosure is being carried out vigorously.

As one of the investment vane of A share market.

The stock market is being enlarged.

As of July 29th, QFII appeared in the list of the top ten tradable shareholders of 14 listed companies whose semi annual reports had been disclosed, of which 11 were small and medium enterprises, 2 were the main board of the Shanghai Stock Exchange, and 1 were the gem.

Statistics show that among the 14 companies, QFII has entered 2 new businesses.

The 8 largest companies in the Shanghai Stock Exchange, 4 of the small and medium-sized board companies, including Jin Zhengda, boss electric appliance and Haida group, have increased their holdings by more than doubled in the first quarter. Of them, the increase of Hikvision has reached 343.03%, and 3 of them are small and medium-sized companies. In addition to Hikvision's reduction of 11 million 911 thousand and 600 shares, Lianhua technology and Dongfang ocean only reduced 771 thousand and 200 shares and 320 thousand and 200 shares.

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Why do QFII, a mature and rational representative of institutional investors, raise the value of "small and medium sized" stocks that make the market hate and hate? We can analyze them from two angles of performance and expectation.

As of mid July, the SME board and gem performance bulletin was basically disclosed.

According to the statistics of Everbright Securities quoted by Xinhua news agency, the growth rate of growth forecast for gem has risen from 8.7% in the first quarter to 23%. The growth of mid term earnings in 2015 is likely to return to or even exceed the level of 2014. The growth rate of central and small board forecast growth has dropped from 32.6% in the first quarter to 32.6%, although the growth rate of medium-term earnings in 2015 has dropped slightly, but it is still expected to be higher than that in 2014.

In the first quarter of this year, the profit growth rate of small and medium sized boards and gem was 22.7% and 9.4% respectively, although it was lower than 60.3% and 38.6% of the fourth quarter of last year.

Since there are fewer than 500 listed companies on the main board issuing performance forecasts, it is hard to see their overall profitability.

The data available for reference is that in the first quarter of this year, the motherboard's net profit grew by 1.55% over the same period last year. It is therefore estimated that there will be a great gap between the growth rate in the first half of this year and the "small and medium-sized" company.

From the perspective of industry development, the "small and medium sized innovation" has great advantages compared with the motherboard.

"Small and medium-sized" listed companies mostly represent some industries of new economy, such as strategic emerging industries, Internet finance, cultural media, information technology, medical devices and so on. Some listed companies are leading companies in various sub sectors.

The development of these companies conforms to the national strategy of industrial pformation and upgrading, and will naturally be strongly supported by national policies. At the same time, their products have broad market prospects, and their performance growth will maintain rapid growth for a long time.

On the contrary, although some listed companies are undergoing pformation and upgrading through merger, reorganization and reform, their performance growth is still hard to predict.

At the same time, based on the confidence of the company's performance growth, many "small and medium-sized" companies have launched a high delivery and pfer plan, and the mentality of their bigger and stronger enterprises can be seen.

Market participants believe that although the performance of many small and medium sized companies in the past year has been acquired through extensive M & A or reorganization, the overall growth rate of the sector has been greatly raised. However, after excluding the listed companies, the profit growth rate has not declined by a large margin, indicating that these companies still maintain a relatively good endogenous growth level.

Finally, in a word, "Chuang Chuang" is the most dynamic and growing group in China's economy, and QFII is placing heavy emphasis on it.