Micro-disk stocks continued their strong performance this year. Since September 24th, the index of micro-disk stocks has risen by 61.4%, while only one of the 402 stocks in the sector has fallen, with an average increase of 44.03%, which greatly outperformed the indexes of Shanghai and Shenzhen 300 and Shanghai 50. The cumulative increase of 19 stocks including Renzhi (002629.SZ), Shandong Huapeng (603021.SH), Xingtu Xinke (688081.SH) and Lianxiang (603272.SH) exceeded 80%.Compared with small and medium-sized stocks, large-cap stocks have always been known for their stable operating performance and higher dividends. According to the analysis and research report of Guotai Junan's third quarterly report, the performance of all A-shares declined in the first three quarters. In the third quarter, the net profit growth rate of all A-share non-financial and non-petroleum and petrochemical listed companies (hereinafter referred to as "all A-shares and two non-shares") was -10.8% year-on-year, which was further enlarged compared with the second quarter of 2024, with a cumulative year-on-year growth rate of -8.0%, and negative growth for seven consecutive quarters. In terms of revenue, the cumulative growth rate of all A companies in the third quarter of 2024 was -1.6%, and it was -0.7% in the second quarter of 2024, with an enlarged decline.SDIC Securities Research Report pointed out that from the perspective of capital, this phenomenon (micro-disk stocks hit a record high) is naturally easy to explain: the core of the incremental fund group is retail hot money, and the pricing power is not in the hands of institutions.
From 2024 to the end of the year, with the gradual development of the New Year's market, how will the market style be interpreted? Will there be a switch between large and small disks?What are the reasons why more resilient blue chips are not popular in the market? Many people in the industry interviewed by reporters believe that the macro-economy has not yet recovered significantly, and the uncertainty of the pace of monetary and fiscal policies next year has led to the fact that although the weighted blue-chip stocks have a low valuation advantage, they have not obtained the unanimous expectation of funds.For the reason of the market style deduction, Zhao Xi, the investment director of Tuopai Fund, told the First Financial Reporter that since the macroeconomic data has not improved significantly, it is difficult for the macro economy to support the core assets, and most investors' sense of the whole economy is not high enough. Although the weighted blue chips and fund heavyweight stocks have valuation advantages, they lack rising logic. In this context, hot money and new retail investors have repeatedly speculated on the emerging science and technology around the policy.
The "disappearing" low-priced stocks also reflect the style that funds are keen on "speculating small". The "roller coaster of low-priced stocks during the year: the number of stocks in half a year is reduced by 90%, and the liquidity drives the stocks to soar" published by CBN on December 8 pointed out that the number of A-share low-priced stocks (below 2 yuan) has been reduced by about 90% in the past six months, and the hot money has used the concept to speculate on related targets, pushing the low-priced stocks to rise sharply. Sunrise Oriental (603366.SH), Nanjing Chemical Fiber (600889.SH), Leo (002131.SZ), *ST Tongzhou (002205.SZ), Hainengda (002583.SZ), and Doushen Education (300010.SZ). As of December 9, there were 21 A-share low-priced stocks, one less than the previous trading day.SDIC Securities Research Report pointed out that from the perspective of capital, this phenomenon (micro-disk stocks hit a record high) is naturally easy to explain: the core of the incremental fund group is retail hot money, and the pricing power is not in the hands of institutions.[Robots are hot this year! 】
Strategy guide 12-13
Strategy guide