Gem "Ice And Fire" Two Days "High Growth" Was Exposed To "Dumb Fire"

< p > in fact, this year, < a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107105" > gem < /a > overall performance has been inferior to other sectors.

Data show that last year's annual report, gem net profit fell 8.57%, while the motherboard company's net profit increased by 0.66% over the same period last year.

In the first quarter of this year, the performance of GEM companies continued to decline by 1.27%, while the motherboard company increased by 9.66%.

In the first half of the year, the overall growth rate of gem and motherboard companies was 1.51% and 10.54% respectively.

The GEM companies, represented by "high growth", have shown a "dumb fire" in their performance this year.

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< p > it is worth mentioning that in the 979 listed companies that have announced the three quarterly bulletin, the growth of small and medium sized boards is strong, and 461 companies are preoccupied with the first two seats.

The Shanghai and Shenzhen motherboards followed closely, and contributed to 82 reporting companies.

In contrast, the gem, which is constantly growing at a record high, is slightly stronger in the three quarterly bulletin. At present, more than half of the companies are reporting bad news. Only 22 listed companies have reported good results.

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< p > between the various plates, the performance is so disparate. Will the funds interfere with the differentiation of the fourth quarter market in the plate? Why? This is probably a big point in October.

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< p > < strong > ice: the overall slowdown in performance is due to the loss of 10 companies < /strong > /p >

< p > from the current announcement, the impact of macroeconomic slowdown on GEM companies is gradually emerging.

At present, a total of 15 GEM companies have pre cut three quarter results, and 10 GEM companies are expected to make losses. Among them, 2 are continued losses, 8 are the first ones, and Po's shares, Star Technology and Ming Jia technology are among the top three.

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< p > Bao de stock (300023) is the most typical sample of gem's "adverse growth". It is one of the first listed companies on GEM. But in the 3 years after the listing, revenue has not increased or fallen, and profits have declined year after year and plunged into a loss.

The company expects -9 net profit in January 2013 to be -1250 10000 yuan to -750 yuan, down 898% compared to the same period.

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< p > after the medium-term loss of 38 million 949 thousand and 300 yuan, < a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107107" > Star Technology < /a > (300256) is expected to net profit in the first three quarters of about 10000 yuan to -5300 million yuan, down by 571.59%-527.1%.

Due to the fierce competition in the market, the sales price of the mobile phone windows protection screen was larger than that of the company, and the overall profitability of the products declined. The gross profit margin of the company in the first half of the year was significantly lower than that of the previous year. This trend has not yet been reversed in the three quarter.

In this regard, Star Technology said that due to the impact of the terminal market competition, the profitability of the product is reduced, and the utilization of the company's capacity is still insufficient.

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< p > similarly, Ming Jia Technology (300242) also made a loss in the first three quarters. The company expects to achieve net profit of -1600 yuan to -1473 million yuan, down 448%-478% compared with the same period last year.

The company lost 7 million 898 thousand and 700 yuan in the first half of this year.

The company said that the sharp decline in performance was mainly due to the weak foreign economic recovery and insufficient physical demand, and the overseas orders of the company decreased year by year.

At the same time, the domestic part of the winning bid has been postponed, and only a small part has been sold.

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< p > insiders pointed out that the adjustment of domestic economic structure has brought some opportunities for developing GEM companies in some high-tech sectors, but not all GEM companies can maintain the characteristics of high growth.

The performance of GEM companies is more likely to be affected by economic fluctuations due to changes in their subdivision industries and limited business coverage.

From the perspective of development, the characteristics of gem differentiation will become more obvious in the future.

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< p > < strong > Fire: share price is even higher, the profit of 7 companies doubled, < /strong > /p >

< p > although the overall growth rate is weak, there are still some bright spots in the GEM companies that are even more innovative.

In the 19 quarter of the three quarter of the company's earnings growth, 7 companies in the first three quarters of the net profit grew by more than 100%.

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< p > at present, the biggest increase in growth enterprise market is Ding Han Technology (300011).

The company expects net profit of about 27 million 275 thousand and 400 yuan to 28 million 40 thousand and 100 yuan in 1-9 months, an increase of 970% to 1000% over the same period last year.

The company said that with the launch of the new high-speed rail project and the implementation of the subway order, the company's performance will steadily increase.

In the first half of this year, the company achieved a net profit of 19 million 85 thousand yuan and successfully realized its losses.

In addition, three dimensional silk (300056), high new (300098), Jiawei 300317, and shin Daxin 300080 are also expected to grow faster than 100% in the first three quarters.

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< p > despite the sharp increase in the first three quarters, there are some differences in looking at the quarterly performance of these companies.

Among them, the new Daxin material is expected to achieve net profit of about 8 million yuan -1000 million yuan in the first three quarters, an increase of about 164.9%-231.13% over the same period last year.

The company lost a total of 7 million 171 thousand and 200 yuan in the first half, which means that the third quarter of the new Daxin material will achieve profitability.

The company said that the integration of resources with Yi Cheng new materials has become the highest market share in the industry, and has also increased the bargaining power of the company to downstream manufacturers.

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< p > by contrast, Jia Wei shares are expected to grow 222.01%-251.28% in the first three quarters, up to 11 million yuan and -1200 million yuan.

However, the company achieved a net profit of 11 million 60 thousand yuan in the first half of this year, which means that the company's third quarter single quarter profit level may be less than 1 million yuan.

Last year, the low performance base became an important reason for the company to achieve greater performance growth.

Data show that in the first three quarters of last year, the company only achieved a net profit of 3 million 416 thousand and 100 yuan, while the third quarter of last year, the company's single quarter profit was still less than 100 thousand yuan.

The company said that in order to resist the risk of a single product, LED lighting products and other LED consumer products are being gradually accepted by the market.

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< p > < strong > three company < /strong > a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107108" > strong > performance decline < /strong > /a > < strong > lead the decline of gem.

< p > for the current investors, the most important question now is how long will the bull market continue for the growth enterprise market? Is there any participation value now? < /p >

< p > worthy of our vigilance is that this year, not all GEM stocks are rising.

Statistics show that as of October 9th, a total of 34 GEM stocks fell this year (after the resumption of power).

Hua Changda (300278), Ke Heng shares (300340), and Japan Chemical (300214) fell below 37.28%, 32.24% and 32.20% respectively, ranking the top three in the drop list.

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< p > reporter noted that the above three stocks all have negative growth in the interim results: the net profit of Hua Chang Da dropped by 32.16%, the stock of Ke Heng dropped by 92.06%, and that of Japanese chemical decreased by 48.19%.

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< p > reporter noted that behind the new growth of gem, the risk of valuation and performance is constantly being mentioned.

In the past month, 2013 of the 165 GEM companies have been expected to reduce their net profit by about half.

According to the insiders, the three quarterly report of gem is almost impossible, and it is the best scenario to meet expectations.

It has been widely seen that earnings growth is an important support for the growth of the growth enterprise market. In the face of the decline in the performance forecast of nearly half of the GEM companies, what is the future of the GEM market? < /p >

< p > Li Daxiao, director of the British Securities Institute, confirmed that as the IPO opens, the overall overvaluation of the gem will return.

"Trees can't grow on the moon," he explained. "I have seen a deep development of 50 times earnings. The overvalued value is not due to high growth, but because of the scarcity of banking stocks, and the valuation of bank stocks is less than ten times.

The gem's current overvaluation is also due to the suspension of new shares. The growth of the growth enterprise market is not enough to support 50 times, or even a hundred times earnings. "

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