The big outbreak, the concept of science and technology soared, the chip leader was robbed! scarce, and the performance reversal stocks in the first quarter were exposed, only 16

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A-shares ushered in a long-lost general rise market, and the theme of science and technology took the lead!

Technology themes rebounded across the board

On April 17, A-shares rebounded across the board, with the Shanghai Composite Index, Shenzhen Component Index, ChiNext Index, and STAR 50 Index all rising by more than 2%. As of the close, more than 5,100 shares were in the red, including more than 230 stocks with a daily limit. The theme sector became popular across the board, among which the science and technology theme became the pioneer of the rebound, and the PEEK material, spatio-temporal big data, e-paper, flying car, memory chip, and Sora concept index all rose by more than 8%.

The PEEK material concept was the hottest performer, closing up more than 11%. Huami New Materials rose 27.52%, Zhaomin Technology gained a 20cm price limit, and Shuangyi Technology, Fuheng New Materials, Tongyi Shares, Ju Sailong, Xinhan New Materials, and Fengguang Shares rose more than 10%.

After-hours data show that 9 industries have received a net inflow of more than 1 billion yuan in main funds today, of which the net inflow of main funds in electronics, computers, and machinery and equipment ranks in the top three.

The electronics industry has been the main force to increase its position, with a net inflow of 3.641 billion yuan today, ranking first, and the industry's leading chip stock GigaDevice has the first capital inflow, with a net inflow of 468 million yuan, and the closing stock price limit;

According to a research report released by CICC, the market still has some favorable conditions, and the medium-term opportunities outweigh the risks:

1. Corporate earnings have initially stabilized, the profits of industrial enterprises have performed well, and inflation is expected to rebound moderately due to the low base;

2. The overall valuation of the current A-share market is not high, and the forward P/E ratio of CSI 300 is 10.1 times, which is still significantly lower than the historical average level of 12.6 times.

3. The reform of the capital market drives enterprises to pay more attention to medium and long-term shareholder returns and improve the quality of listed companies.

Ping An Securities said that the "1+N" policy direction of the capital market is gradually clear, and it is expected to accelerate the transformation to the investment market. Structurally, it is recommended to pay attention to the direction of benefiting from policy dividends and improving the marginal improvement of the industry's prosperity, one is the dividend expectation under the policy dividend of the superior enterprises and the large market white horse of listed companies with stable operation and good governance, the second is the upstream resource sector that is expected to improve the prosperity, and the third is the TMT and advanced manufacturing sectors related to new quality productivity.

The performance of memory chip leaders has rebounded significantly

On April 17, BIWIN's share price rebounded sharply, and the 20cm price limit was blocked shortly after the market opened. In the past few trading days, the stock has suffered a series of heavy blows, and the stock price once fell from 50 yuan/share to around 37 yuan/share. Driven by the wave of artificial intelligence, the stock, as a leader in the field of memory chips, once rose sharply during the first quarter of 2023, becoming a big hit at that time, with the highest share price reaching 116.66 yuan per share.

After experiencing unfavorable factors such as sluggish terminal demand, high inventory in the industrial chain, and the impact of the epidemic, the storage market has fallen into a downward cycle. With the disclosure of the annual report, the performance of the memory chip industry surfaced, and a large number of concept stocks encountered the market voting with their feet.

According to the statistics of Securities Times and Databao, as of April 16, compared with the highest point since 2023, among the memory chip concept stocks, BIWIN Storage, Hengshuo Shares, Ziguang Guowei, GigaDevice Innovation, and Langke Technology have all retraced by more than 50%.

As Samsung, SK hynix, Micron Technology and other major memory chip manufacturers have announced to reduce production capacity and reduce capital expenditures on storage business, memory chip inventory adjustment has been effective, market demand has picked up, and global memory chip prices are gradually rebounding from last year's plunge, prompting the storage cycle to enter the recovery stage ahead of schedule.

The first-quarter performance forecast released by BIWIN Storage confirms the recovery trend of the industry. According to the forecast released by the company, the company expects revenue in the first quarter of 2024 to be 1.7 billion yuan to 1.8 billion yuan, a year-on-year increase of 299.54% to 323.04%, and a net profit of 150 million yuan to 180 million yuan, a year-on-year increase of 219.03% to 242.84%, to achieve a turnaround.

The company mentioned in the reasons for the change in performance that since the fourth quarter of 2023, the storage industry has recovered, downstream customer demand has continued to recover, the company has vigorously expanded first-tier customers at home and abroad, and product sales have increased significantly year-on-year. At the same time, the price of storage products continued to rise, and the company's operating performance continued to improve.

List of companies with reversal of results in the first quarter

At present, it is the peak of performance disclosure in the first quarter, affected by many factors such as changes in the industry cycle and the improvement of the company's operating efficiency, some listed companies have achieved a performance reversal in the first quarter of this year after the performance decline in 2023.

According to the following conditions, Databao sorts out the listed companies with performance reversal.

1. According to the calculation of the lower limit of annual report, performance express report and forecast net profit, the net profit in 2023 will decline or lose year-on-year;

2. According to the calculation of the first quarter report, performance express report, and forecast net profit lower limit of 2024, the net profit has achieved profitability and year-on-year growth, and it has also achieved quarter-on-quarter growth for two consecutive quarters.

Statistics show that a total of 16 companies were shortlisted. According to the industry classification, these companies are mainly distributed in the basic chemical, electronics, pharmaceutical and biological industries, with 4, 3 and 2 shortlisted respectively.

Among the companies with performance reversal, 9 companies doubled their net profit growth or reversed their losses in the first quarter, accounting for more than half.

Demingli's net profit growth is the most significant, and the company expects a net profit of 186 million yuan to 226 million yuan in the first quarter of 2024, turning losses into profits year-on-year. During the reporting period, the company achieved remarkable results in the verification and introduction of a large number of products in the early stage, the price of the storage industry has been on an upward channel since the third quarter of 2023, and the company's sales revenue scale and gross profit margin growth continued to be good.

Judging from the performance of the secondary market, the above-mentioned performance reversal companies are in a state of over-decline as a whole. According to data treasure statistics, as of the close of trading on April 17, these companies have fallen by an average of 11.64% this year, underperforming the Shanghai Composite Index over the same period. 7 shares have fallen by more than 20% since the beginning of this year, namely Chenhua shares, Kaierda, Meiliyun, BIWIN Storage, Chuanjinnuo, Air China COSCO, and Haiyin shares.

Disclaimer: All information content of Databao does not constitute investment advice, the stock market is risky, and investment needs to be cautious.

Editor-in-charge: Lin Lifeng

Proofreading: Gao Yuan

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Data treasure (shujubao2015): Securities Times intelligent original new media.