Every reporter Liu Mingtao every editor Peng Shuiping
Support under the weak recovery, recovery in the policy dividend!
As a product of China's brand economy entering a new stage, each brand 100 index (index code: 931852) has once again withstood it.TronarcadegameHas been tested by the huge market shock.
During the interval operation from May 8, 2023 to April 30, 2024, a V-shaped rebound will be achieved. Under the stimulation of the policy dividend with "active capital market" as the deployment and investment-side reform as the starting point, the future can be expected.
Run: achieve V-shaped rebound
After the performance of the previous year is better than that of the three major stock indexes, each brand 100 index has shown a very strong ability to resist risks in the course of nearly a year of operation.
In the second quarter of 2023, after the AIGC (generative artificial intelligence) concept speculation receded, the A-share market once entered a hot spot and made a quick profit with hot money.TronarcadegameIn the closing stage, the 100 index of each brand also suffered a wave of rapid declines, with the stock index falling more than 5% in May of that year. In mid-June, the brand index ushered in the second replacement of constituent shares after listing, and leading companies in various industries such as Ningde era, Orient overseas International, Hisense Home Appliances, Ping an Bank and Haikang Weiwei were all shortlisted.
This replacement of constituent shares has improved the compilation of the index, which also shows that after a year of development, there are many industry leaders standing in the forefront of the world, with great global competitiveness, such as Ningde era and Tongwei shares. New energy car leaders and photovoltaic giants are showing their value on the world stage, and the industry leaders deserve to be the leaders. The replacement of constituent stocks, more importantly, balances the distribution of the index industry, with the optional consumer industry accounting for nearly 30% of the index, while the communications services industry accounts for more than 20% of the index.
After the replacement of constituent stocks, the index of 100 per brand once rebounded rapidly, with a maximum increase of more than 10% in less than 30 trading days, but due to the impact of the US interest rate hiking cycle and the less-than-expected economic recovery, the index adjusted with A shares in the second half of 2023. Until the end of January 2024, each brand 100 index bottomed out at about 756 points and rebounded again.
Since February this year, after multiple domestic policies and favorable stimulus, as well as foreign investors have been optimistic about A shares and Hong Kong stock markets, each brand 100 index has rebounded, and the monthly K-line has risen for three consecutive months, with a cumulative increase of 15% from February to April.Tronarcadegame.18%. As of April 30, each brand 100 index closed at 894 points, nearly a year interval K-line operation to achieve a V-shaped rebound.
Features: obvious valuation advantage
After a year of wide shock, statistics show that during the most recent year (May 8, 2023 to April 30, 2024), the cumulative decline of each brand 100 index is 2%.Tronarcadegame.35%, while the Shanghai 50, CSI 100 and Hang Seng Technology Index fell 8.23%, 10.77% and 5% respectively during this period. In addition, the Shanghai Composite Index and the Shenzhen Composite Index also fell by 6.89% and 14.25%.
It is not difficult to see that in the course of nearly a year of operation, the performance of the 100 Index per Brand is not only better than the three "benchmark indices", but also significantly better than the Shanghai and Shenzhen indices, showing a very strong anti-risk resilience, highlighting the investment value of constituent stocks.
In terms of valuation, as of May 3, the average price-to-earnings ratio of the 100 index per brand is 9.9 times, and the average price-to-book ratio is only 1.11 times. This is similar to the Shanghai 50 average price-to-earnings ratio of 10.5 times and the average price-to-book ratio of 1.12. The average price-to-earnings ratio of the CSI 100 and the Hang Seng Technology Index is 13.9 times and 24.3 times, respectively. By comparison, the per Brand 100 Index is still significantly undervalued.
Industry insiders pointed out that the per-Brand 100 Index emphasizes the implementation of the new development concept and the theme of high-quality development, and strives to help Chinese corporate brands show the vitality of China's economy. the index selects listed companies selected on the brand value list of Chinese listed companies as index samples to reflect the overall performance of the securities of listed companies with high brand value and good financial conditions among Chinese listed companies.
It is worth noting that the constituent stocks of each Brand 100 Index contain the main forces of national construction, including many key state-owned enterprises, as well as many Hong Kong stocks and Chinese stocks in other markets around the world, especially the representatives of the new economy. Therefore, in the future, whether from the perspective of investment, or from the perspective of brand awareness, each brand 100 index is worthy of long-term tracking and observation by investors.