Moving into July, the second half of the A-share market curtain slowly pulled open, the science and innovation board will also usher in this year's release of the peak. 76 science and innovation board companies will be released in July, the CICC data show that the scale of the release of this round of more than 260 billion yuan, accounting for the science and innovation board of the annual release of the scale of 1/4.
From the release of the type of point of view, the wave of release of the July release of the main from the debut of the type of shares.
From the industry distribution point of view, Industrial Securities data show that the semiconductor, rail transportation equipment, general equipment, batteries and medical equipment release the scale of the front, respectively, amounted to 84.86 billion yuan, 35.2 billion yuan, 22.96 billion yuan, 22.62 billion yuan and 21 billion yuan;
Rail transportation equipment, other electronics, general equipment, aviation equipment and environmental protection equipment industry release the market value of the proportion of free circulation market value is higher. free-float market value is higher, respectively 117.8%, 90.1%, 63%, 46.8% and 40.3%.
From the specific stock point of view, Zhongtai Securities pointed out that the market value of the release of more than ten billion shares have seven, the top three were Mission Hills Technology, China Microelectronics Corporation, China General; the number of shares released accounted for the proportion of the total share capital of more than 50% of the shares have ten, the top three were Huaxing Yuanchuang, Hangzhou can be science and technology, South Micro-medicine.
From a fundamental point of view, Zhejiang Securities data show that the "big non-" release of the company's earnings growth in 2022 is expected to improve the magnitude of the larger than the net profit growth rate of the 2021 mother of a significant increase; and "small non-" release of science and innovation plate company Expected net profit growth rate improvement is small.
It is worth mentioning that analysts believe that in July, the science and innovation board "big non-" release of the company's price-earnings ratio is not low, but the valuation quartile is at the bottom of history.
How about the impact of the July release tide?
Comprehensive a number of institutions research judgment, although the peak of the release is often accompanied by the subsequent corresponding reduction in the scale of the enhancement, from the perspective of capital may bring some short-term impact on asset prices, but still optimistic about the medium- and long-term trend of the CCTV board.
Most analysts "learn from history", combined with the past two years after the release of the concentration of the KTB stock price performance, the short-term market is prone to volatility.
For example, Societe Generale Securities said that, from the past, the centralized release on the July KCB stock price trend rhythm is more obvious, but mainly dominated by emotional factors, the stock price showed a sharp fall after a rapid rebound characteristics;
Individual stock level to see the characteristics are also basically the same, in July, the KCB release of stocks compared to the non-expansion of stock prices by the release of the impact of the more pronounced, but rebound efforts are also The stock prices of the stocks released in July were more obvious than those of the non-release stocks, but the rebound was also stronger.
In the medium and long term, Societe Generale Securities believes that with the release of a large number of restricted shares, the increase in the number of shares in circulation is expected to further enhance the active degree of science and technology board trading, and at the same time is expected to enhance the public funds, land stock passes, and other institutional investors willing to increase the allocation.
It is worth mentioning that at the beginning of the month, there were institutions shouting "this year's KTB is similar to the 2012 GEM", and triggered market concern.
Central Pacific Securities also mentioned the performance of the GEM when analyzing the market after the release of the KTB, which suggested that after three years of smooth operation of the GEM, the proportion of the market value of the circulating market value has gradually increased, and the emotional disruption of the important shareholders to reduce the expected gradually subsided, and the GEM has started to enter the fundamentals of the year 2013 and the industrial policy positively driven by the independent bull market.
In summary, analysts believe that with the gradual fading of overseas disturbances, the focus of the domestic from the short-term "stable growth", "risk prevention" back to the long-term "independence", "high quality", "quality", "quality", "quality", "quality", "quality", "quality", "quality", "quality", "quality", "quality", "quality" and "quality". ", "high-quality development", science and technology is expected to become the leader of a new round of upward cycle. And before and after the July release window, if the KCI stock price fluctuations, or will become the bottom configuration, medium and long-term layout opportunities.
Zhejiang Securities 24 report also gave a similar point of view, the new growth reversal has just begun, the main rise of science and technology in the immediate future. Behind this there is a triple driving force:
One, on the macro background, the economy towards a weak recovery, emerging growth dominant;
Two, on the meso-level, the earnings season is about to open, semiconductors, defense, the digital economy (industrial software and smart cars), specializing in the new is expected to take over, the growth of opportunities exciting;
Three, July KICCB ban to The third is that in July, the release of the KTC board is mainly "big non-" release, accounting for 80%. Reference to the GEM experience, "big non-" after the release, 30 natural days within the increasing rate of increase. And "small non-" release although the impact, but January-April has been adjusted in advance, and more than 260 companies this year, no "small non-" release pressure.
Implemented to the specific direction, Industrial Securities report on the 29th is expected to the second half of the market main line will further focus on the "new half army" as the representative of science and technology science and innovation, it is recommended that along the "certainty" + "high elasticity ), semiconductor (equipment, materials), 5G (optical modules, fiber optic cable);
The second is "more flexible + boom degree high" line, layout of new energy vehicles (lithium batteries, vehicles, parts), intelligent driving (intelligent cockpit, decision-making implementation).