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In 2015 8 monthly medical pharmaceutical industry: focus on the reform of state-owned enterprises

Number of visits: Date:2015-08-26 09:00

Investment points:

In July, the market fell sharply, all plates are in a sharp decline in. The decline is relatively small is agriculture, the defense industry sector, followed by the bank, leisure services and mining sector. In July, the small cap stocks decline is relatively large, and the stock market decline is relatively small. Although the pharmaceutical industry has a certain increase, but in view of China is about to enter the aging society, coupled with the performance of the pharmaceutical stocks are supported, investors are still optimistic about the pharmaceutical stocks, so the decline is not large stocks. And the pharmaceutical industry may have a good follow-up, investors are still optimistic about the pharmaceutical industry.

In the pharmaceutical industry, medical equipment and chemical raw materials, the Shanghai and Shenzhen 300 index. Among them, the largest decline in medical devices. Decline in biological products and medical services.

Stocks, rose in front of a river, Shanghai RAAS, Conba pharmaceutical, constant group. In the rise of large stocks, River Pharmaceutical by cross-border development end now turn positive impact on the stock price rose 34.33%, column or table first. At the same time, Shanghai RAAS by interim net profit of 8.33 billion, an increase of 380% of positive news, the stock rose 30.70%, rose to second place in the standings. In addition, Conba received the first half net profit year-on-year growth more than 50% of the positive news, shares rose 15.06%, rose to third in the standings. At the end of the list or is Changshan pharmaceutical, Jiangsu Wuzhong, Intel, Xinhua medical group.

From the valuation point of view, after a substantial adjustment, the industry's earnings ratio has declined, but the valuation of the gem is still high. Defense and military stocks of PE is relatively high, the overall method for its prediction is 103.81 times, TTM overall PE is 168.18 times, the TTM is higher than the other higher than the valuation of pharmaceutical biotechnology sector is the computer, media, mechanical equipment, integrated, electronic and other plate. From the list, the valuation of pharmaceutical stocks at the forefront. Although the pharmaceutical sector is not big, but the valuation is not low. PE is 38.66 times as much as the overall forecast, from the TTM point of view, the pharmaceutical sector PE levels in 51.06 times, the valuation is relatively high, relatively full A shares premium rate of more than 100%, sub sector valuation, the top two valuation is still medical services and medical equipment, in addition, the higher valuation of chemical raw materials and biological products. The low valuation of Chinese medicine and pharmaceutical business.

Currently A shares pharmaceutical listing Corporation, 48 of the background of the state-owned enterprises, generally with the advantages of resources and brand, is about to start the reform of state-owned enterprises will promote enterprises to accelerate the release of business activity. Concerned about the reform of state-owned enterprises, the first concern is the quality of state-owned enterprises, high-quality state-owned enterprises have adapted to the fierce market competition, and formed a core competitiveness, the latter is expected to further expand and strengthen. For example, Dong'e E-Jiao, Huarun three nine. Next focus on potential type of state-owned enterprises, state-owned enterprises in general revenue, asset size, or with invisible resources, but there are some defects in corporate governance and profit model. For example, Huarun double-crane. In the context of the current reform of state-owned enterprises, investors can focus on these SOE reform.

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