By China Galaxy Securities Co.Ltd.
- May 6, 2010
- Strategies
Key Standpoints:
1. M-shaped economy indicates decline of year-on-year growth at 9.5% in Q2 2010 and inflation anticipation intends to be strong yet with not heavy actual pressure; meantime, May-July CPI exceeds 3% and inflation pressure will be relieved in the second half year. Compared with universal market anticipation, we hold cautious view on economy growth .......
By China Galaxy Securities Co.Ltd.
- Mar 1, 2010
- Strategies
1. Short-term pressure of fund is hard to alleviate.
Fund capital being short: intensive bonus sharing + high positioning + redemption pressure. If we see fund capital by plus-minus method, new fund issuance will be the only plus, while fund bonus sharing and redemption are to cut capital.
Secondary market capital flows to initial public offerings, and .......
By China Galaxy Securities Co.Ltd.
- Mar 1, 2010
- Strategies
Points:
1. Market trend coincides with our yearly strategic estimation.
2. Fund holding has almost reached the summit.
3. Funds saw unprecedented redemption pressure in Q4 2009.
4. Stress of funds bonus sharing in Q1 2010 is heavier than before.
5. Book bank deposit of funds hits lowest of recent 10 quarters.
6. Initial Public Offerings might be under estimation.
7. Conclusion: .......
By TX Investment Consulting Co., Ltd.
- Jun 25, 2009
- Strategies
As of closing on June 24, 2009, share prices of 3 companies plunged below their net asset value per share, with P/B ratio between 0.57x and 0.97x. These companies covered several fields including real estate, textile & garment and telecom industry, etc. From 2007 onwards, 264 companies issued initial public offering. Of these companies, 13 .......
By TX Investment Consulting Co., Ltd.
- Jun 12, 2009
- Strategies
As of closing on June 11, 2009, share prices of 4 companies plunged below their net asset value per share, with P/B ratio between 0.57x and 0.99x. These companies covered several fields including real estate, textile & garment, telecom, and home-appliance industry. From 2007 onwards, 264 companies issued initial public offering. Of these companies, 16 .......
By TX Investment Consulting Co., Ltd.
- Jun 11, 2009
Changsheng Tongqing Fund-B discounts and UBS SDIC RuiFu Aggressive Fund (MUTF_CN:150001) appreciates, which is due to their differentiated risk return features; viewed from earning distribution mechanism, the latter is better than the former.
Current premium of UBS SDIC RuiFu Aggressive Fund (MUTF_CN:150001) is rational to some extent.
Discount of Changsheng Tongqing Fund-B is limited; in case of .......
By TX Investment Consulting Co., Ltd.
- Jun 11, 2009
- Strategies
In May 2009, domestic consumer price sees year-on-year decline of 1.4% (-0.1ppt mom), which is slightly below market decline expectation of 1.3%
Viewing from sub-items, decline margin of non-food price mainly causes the low-positioned CPI in May.
As driven by price soaring factors including product oil price surge on June 1 and water price adjustment to .......
By TX Investment Consulting Co., Ltd.
- Jun 10, 2009
- Strategies
As of closing on June 9, 2009, share prices of 4 companies plunged below their net asset value per share, with P/B ratio between 0.57x and 0.99x. These companies covered several fields including real estate, textile & garment, telecom, home-appliance industry, etc. From 2007 onwards, 264 companies issued initial public offering. Of these companies, 16 .......
By TX Investment Consulting Co., Ltd.
- Jun 10, 2009
- Strategies
The updated report mainly covers the following contents including:
The latest earning forecast and rating of TX key listed companies and specification of weekly adjustment;
Newly added valuation indicators such as EV/EBIT, EV/EBITDA, PEG, etc;
Newly added mid-small board earning forecast and rating;
Newly added weekly forecast of entire profit growth rate;
Newly added weekly forecast .......
By TX Investment Consulting Co., Ltd.
- Jun 9, 2009
- Strategies
As of closing on June 8, 2009, share prices of 5 companies plunged below their net asset value per share, with P/B ratio between 0.57x and 1.00x. These companies covered several fields including real estate, textile & garment and telecom industry, etc. From 2007 onwards, 264 companies issued initial public offering. Of these companies, 16 .......