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Semiconductor-related indices led the gains.
Technology is the timeless mainline of the capital market. On October 18, stimulated by the news, the technology sector broke out in an all-round way, with chips, semiconductors and other concepts leading the market, and a number of science and technology theme ETFs were subject to a daily limit; SMIC has a rare daily limit. Driven by the technology sector, the Shanghai Composite Index rose nearly 100 points.
From the perspective of Wind's secondary industry index, the semiconductor and semiconductor production equipment, technical hardware and equipment, software and service industry indices led the single-day increase by a large margin, of which semiconductors and semiconductor production equipment rose by more than 10% in a single day. In the long run, from September 18 to October 17, the software and services, semiconductors and semiconductor production equipment industries led the A-share market, during which the index rose by more than 35%; The technology hardware and equipment industry index rose relatively highly.
AI, semiconductors and consumer electronics continue to be optimistic about the future
In the era of informatization, digitization and intelligence, science and technology as one of the key elements of economic development, the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China pointed out: "adhere to the core position of innovation in the overall situation of the mainland's modernization, and take scientific and technological self-reliance and self-improvement as the strategic support for national development."
Scientific and technological innovation has become an important guarantee for enterprise innovation activities, and research shows that continuous R&D investment is conducive to the development and production of new products and technologies by listed companies, and is an effective means to enhance the company's core competitiveness. According to the National Bureau of Statistics, the total R&D investment in the whole society will exceed 3.3 trillion yuan in 2023, reaching 3,335.71 billion yuan, an increase of 8.4% over the previous year; The total R&D investment of all A-share listed companies in 2023 will reach 1.82 trillion yuan, both of which have maintained a stable growth trend for many years.
From the perspective of the global market, the technology sector can still stand out in the volatile market. The top annualized returns in the United States market in the past 10 years include the United States Technology Big Seven Index, the Philadelphia Semiconductor Index, and the Nasdaq Technology Market Cap Weighted Index, all of which have exceeded 20% since October 18, 2014; Among the S&P Global Industry Indexes, the S&P Global 1200 Information Technology Index still ranks first in annualized return.
As early as the beginning of the year, many institutions such as CICC, Shenwan Hongyuan, and Great Wall Securities were optimistic about the main line of scientific and technological growth. Since late September, the technology sector, represented by computers, electronics, and semiconductors, has become one of the pioneers of the market rebound. HSBC Jinxin Technology Pioneer Fund said that when risk appetite increases rapidly, TMT assets generally rise the fastest, coupled with the low position before, so the rebound is larger; The fund company said that the low stock price and pricing factors are expected to be good, and it is still optimistic about the future performance of the three major technology sectors dominated by AI, semiconductors and consumer electronics.
From the perspective of the disk, the timeline is extended, from the beginning of the year to October 18, technology stocks (hereinafter referred to as "technology stocks") dominated by semiconductors and semiconductor production equipment, technical hardware and equipment, software and services have not risen high, and the Wind Consumer Electronics Industry Index has risen by less than 12%; The semiconductor industry index rose by about 17%, and the artificial intelligence index rose by about 3%, and the three major sectors rose by nearly 53% compared with the insurance industry index that ranked first. These industries may still have some room for growth in the future.
The stock price of 8 technology companies has risen by more than 100% in the past 1 month
According to the statistics of the Securities Times · Databao, 285 technology companies in the semiconductor industry, AI and consumer electronics industries have risen by an average of more than 41% since September 18, and the stock prices of 8 companies including National Technology, Jiejie Microelectronics, and SMIC have doubled; 35 companies rose less than 20% in the same period, mainly consumer electronics companies.
Overall, most of the companies whose stock prices have doubled are among the leaders in the semiconductor sector. The national technology rose by nearly 200%, during which the average daily turnover rate exceeded 20%, and the company is one of the few integrated circuit design companies in China that mass-produces 32-bit security chips, secure memory chips and trusted computing chips. This week (October 14-18), the company received a net active purchase of 121 million yuan from market funds.
Jiejie Microelectronics is a leading domestic thyristor enterprise, and is also one of the earliest and most complete manufacturers of "square-chip" single and bidirectional thyristors in China, and its stock price has risen by more than 140% since September 18.
Guanghong Technology is a leading electronic manufacturing service (EMS) service provider in China, since September 18, the company's share price has risen by more than 120%, from October 14 to 18 by market funds net active purchase of 462 million yuan.
ArcherMind Technology is the world's leading expert in intelligent technology, and from October 14 to 18, it received a net active purchase of 76 million yuan from market funds, and its stock price has risen by nearly 120% since September 18.
15 stagflationary high-performance technology stocks were net active buying
According to data treasure statistics, among the above 285 companies, since September 18, they have underperformed the secondary industry of Wind to which they belong, and this week (October 14-18) there are 58 companies that have received net active buying, of which the number of consumer electronics companies accounts for more than half.
From the perspective of market performance, Roborock, CVTE, and BOE A3 have risen by less than 15% since September 18; Among them, Roborock rose by only 11.29%, which was lower than the 17.14% increase in the consumer durables and apparel industry to which it belongs. Hikvision, KTC Technology, Yingqu Technology and other companies rose by less than 20%.
From the perspective of funds, 18 companies received net active purchases of more than 100 million yuan this week, of which Lixun Precision ranked first with a net active purchase of more than 1.1 billion yuan, and its share price has risen 19.65% since September 18, and the technology hardware and equipment industry index to which it belongs has risen by more than 24% over the same period. iFLYTEK received a net active purchase of 887 million yuan, and the company is the world's leading intelligent voice technology company.
Suzhou Good-Technetium received a net active purchase of 171 million yuan, the company has a world-class level in diode manufacturing, and the sales of rectifier diodes have been in the forefront of China for more than ten consecutive years. It is worth mentioning that Suzhou Good-Technetium plans to invest 30 million yuan in the investment fund, focusing on semiconductors, new energy, new materials, high-end manufacturing and other industries.
Further, among the above 58 companies, only 15 companies are unanimously predicted by institutions to have a net profit increase of more than 30% year-on-year in 2024, of which 5 companies, including GigaDevice, Tongfu Microelectronics, and Fenghua Hi-Tech, have been predicted by institutions to increase net profit by more than 100% in 2024.
GigaDevice's net profit growth in 2024 is expected to exceed 600%, according to which the company's net profit in 2024 is expected to exceed 1.1 billion yuan. Tongfu Microelectronics' net profit growth in 2024 is expected to exceed 450%, according to which it is estimated that the company's net profit in 2024 may exceed 900 million yuan. GigaDevice and Tongfu Microelectronics are both highly recommended by Founder Securities.
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: Xie Yilan
Proofreading: Wang Jincheng
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