A Quarterly Chart Of 810 GEM Companies: The Impact Of The Epidemic On Pre Performance 30%, Online Education, Cloud Computing, And Medical Growth.

The first quarter of 2020 was announced.

Eastern fortune choice data show that as of April 13th, 810 GEM listed companies issued a quarterly notice. Affected by the new crown pneumonia epidemic, the first quarter of the gem performance fell sharply.

According to estimates, 2020 quarter gem (excluding Wen's shares, LETV) Notice earnings growth year by year (according to the average method of calculation) -28.31%, the growth rate in 2019 than the whole year (expected to be 34.70%), a decline of about 60 percentage points.

At the same time, the growth enterprise market trend is also in the doldrums. Since March, the gem has been down 8.88%.

"A shares continue to bottom out, performance pressure began to reflect. From the notice, the current gem valuation performance is poor match, there is a callback pressure. At the same time, the excess supply of money in the two quarter will also weaken the market support, and the risk appetite will be suppressed by the epidemic situation. Bank of China policy analyst Wang Jun pointed out.

Loss of over 30% Enterprises

Since 2020, many listed companies have fallen sharply in the first quarter under the impact of the epidemic.

According to Choice data, the first loss making enterprises in the first quarter of 2020 have been disclosed to 176 enterprises, accounting for up to 21.73%, with a total of 90 losses, losses and losses, accounting for 11.11%. This also means that more than 30% enterprises are losing money. The total number of listed companies with pre performance reduction was 268, accounting for 33.09%. In addition, a large number of listed companies remain uncertain. The real performance of the listed companies (including performance increases and losses) is less than 30%.

Judging from the reasons for the decline in performance, the supply and demand problems of the upper and lower industry chains, logistics constraints and normal business activities are mainly caused by the epidemic. According to the statistics of Anxin securities, in the Quarterly Bulletin of gem, the companies whose performance is pre cut or the first loss is larger than those in the first half of the business, which are basically caused by the delay in the middle and lower reaches of the enterprises due to the impact of the epidemic, the shortage of raw materials, the reduction of orders and the increase of costs, accounting for up to 91.54%.

For example, Lihua share, the most serious loss in the first loss making enterprise, is expected to lose 192 million yuan to 197 million yuan in the first quarter of 2020. The company pointed out that, as the main source of revenue of the company, broiler chickens, the sales price fell by about 14.94% compared with the same period. Meanwhile, during the reporting period, the number of pig production dropped.

Overall, the bigger the leading companies are, the stronger the ability to resist risks. However, there are still many early bull stocks and high market capitalization stocks. The statistics showed that 2020 of the first quarter of the first half of the loss and performance decline of the largest 50% of the listed companies found that 45 of the total market capitalization of more than 10 billion or more, accounting for 10.79%.

The largest market share of AI eye has been the bull market of gem, and its total market value reached 131 billion 905 million yuan as of April 12th. However, due to the outbreak of the new crown, the company has suspended the out-patient clinic and operation, and some hospitals have provided emergency services. The amount of operation and the main business income have been affected to varying degrees. In the first quarter of 2020, the net profit interval in the first quarter of 2020 was 59 million 702 thousand and 800 yuan -11940.57 yuan, which is expected to drop by another year.

"We (business) is still recovering gradually, but it has not yet recovered to the level before the festival. As for the forecast for this year, due to the epidemic situation (uncertainty), we can not be too sure that the annual performance (forecast) has not yet been given to the market. " In April 12th, the Department of Ophthalmology securities responded to a reporter who telephoned the investor.

According to the source, the company has guided online visits through online booking and telephone consultation, providing all kinds of medical and surgical services to patients under the premise of ensuring medical safety.

In addition, the vaccine leading Kangtai bio is expected to decrease net profit from 85% to 100% over the previous year, and the 5G concept unit is convinced that it has lost 192 million yuan to 197 million yuan in advance, down 447% to 462% compared to the same period last year, and Songcheng's leading performing arts is also expected to earn 0 to 92 million 550 thousand and 500 yuan, down 75% to 100% over the same period.

Coexistence of danger and opportunity

On the other side of the overall decline in performance, the twenty-first Century economic news reporter noted that some quarterly growth reports still had some GEM companies withholding pressure to achieve high performance growth, and online education, cloud computing and medicine benefited from the epidemic.

Among the enterprises that have disclosed a high growth rate of quarterly earnings forecasts, the enterprises whose forecasts were lower than the previous year's growth rate of more than 20% were mainly concentrated in the electronics, pharmaceutical, chemical and electrical equipment industries, accounting for 16.28%, 15.12%, 12.79% and 9.30% respectively. The main causes of growth include the increase in production and marketing, the non recurring gains and losses brought by factors such as the table and other factors, and the increase in gross profit margins brought about by the epidemic driven sales and cost reduction.

The electronics and agriculture, forestry, animal husbandry and fishery industries are the most profitable contributions of the gem. According to Anxin strategic group statistics, the 2020 quarter first quarter forecast of electronic industry in the second quarter of the gem was 2 billion 716 million yuan, accounting for 14.26% of the forecast results of the gem, up 2019 from 7.02%, contributing 0.94 percentage points of the growth of the growth enterprise board.

"Electronic quarterly performance is better overall, because last year, the industry is in the operating place, the base is very low, so in the first quarter of this year, the growth rate of leading companies will be good year-on-year, and some enterprises' performance will be greatly increased by domestic substitution factors." An electronic industry analyst at a medium-sized brokerage in Shanghai pointed out that "however, in the two quarter, the demand side is expected to decline sharply due to the global spread of the new crown pneumonia, and the market is generally expected that the electronics industry will suffer a big blow."

The growth of agriculture, forestry, animal husbandry and fishery industry is mainly due to the upgrading of Wen's stock. In the first quarter of 2020, Wen's shares were expected to yield 1 billion 892 million yuan to 1 billion 897 million yuan, up 510.9% to 511.98% over the previous year, the largest growth enterprise in the first quarter.

According to the statistics of the people's livelihood strategy team, the growth rate of gem's agriculture, forestry, animal husbandry and fishery industry in the first quarter of 2020 was 1161%, achieving a substantial increase. However, after excluding Wen's shares, the first quarter performance of agriculture, forestry, animal husbandry and fishery industry dropped by 98%.

However, the agency believes that despite the impact of the epidemic, the uncertainty of performance increases, but "danger" and "opportunity" coexist.

The strategic team of Anxin Securities pointed out: "even if the quarterly profit has fallen sharply, there is no need to worry too much. On the one hand, it is the external impact of sudden factors, the larger negative growth is a normal phenomenon; on the other hand, the performance of the leading company as a" reassurance "is still tenacious. According to its statistics, 0-50 billion, 5 billion -100 billion, more than 10 billion of market capitalization, 10 billion of the market value (excluding Wen's) 2020, a quarterly announcement earnings growth rate of -95.16%, -24.76%, 6.35%, -9.67%.

Wang Jun also pointed out: "the profit growth rate of the top 10% companies from market capitalization does not fall and rise. The process of upgrading the concentration of some industries under the background of the epidemic is likely to happen quietly. This is a development opportunity for the leading companies to be" dangerous and organic ".