Wang Haoqiang and Zhang Shaohui, who entered this big room after Wang Minghui, Li Xin and Long Yunkai, usually rarely see Li Xin come to this big room, and they have heard Wang Minghui say that Li Xin is very good at investing. But after all, they haven't really seen Li Xin's trading methods, and today is the first time they saw Li Xin buy stocks, and the limit was up and down on the day they bought it. In addition, just now the two of them sat quietly and listened to Li Xin, Wang Minghui and Long Yunkai talk about their views on the trend of the market, and many of Li Xin's views made them feel bright.

So Wang Haoqiang first approached Li Xin and said, "Li Xin, can you help me see if this stock has room to rise in the future?"

"What kind of stock?" Li Xin asked.

Wang Haoqiang said the name of a stock, and Li Xin immediately called up the trend chart of the stock on the computer screen. He took a closer look, and then said: "This is the leading stock in the banking sector, and it has also risen today, and there will definitely be room for growth in the future." ”

Wang Haoqiang said worriedly: "But the highest time of this stock in November last year was 48 yuan, even if it is up today, the price is only 9.65 yuan, less than 1/5 of the original, when and what month can it rise?"

"At what price did you buy it?" asked Li Xin.

"33 dollars more to buy. ”

"It's deep enough. ”

"Who's to say it's not? Look here, on October 30, the closing price of this stock was 11.31 yuan, but after the ex-dividend on October 31, its closing price instantly fell to 8.37 yuan, a drop of 25%. It's been almost two weeks, and the stock price has been fluctuating back and forth at 8.6 yuan, and this gap has not been filled. The stock you bought just now and the broader market index, today's closing point has broken through the pressure of the 20 moving average, but you see that the current price of 9.65 yuan of this stock has just broken through the pressure of the 10-day moving average, and the upward momentum is still a big difference compared with the broader market index. ”

"The big gap on October 31 is caused by the ex-rights and ex-dividends, and the gap does not explain the problem, you wait, how about I look at the operating performance of this stock in the past two years?"

Saying that, Li Xin clicked on the company's dividend and share expansion column, and carefully checked the company's past operating performance. After a while, he said, "What are you afraid of this stock? You see, the after-tax profit per share in the previous year was 0.68 yuan, the after-tax profit per share last year was 0.97 yuan, and the operating performance in the first half of this year was 0.71 yuan per share. According to the after-tax profit of 0.71 yuan per share in the first half of this year, the company's dynamic P/E ratio is only about 6.8 times, which is low in any securities market. Coupled with the fact that the stock market has been falling for a year, and most of the stock prices are now in the bottom zone, there is a lot of room for this stock to rise when the fundamentals have changed radically. ”

Wang Haoqiang said happily: "Really?"

"Of course. And this stock has a unique advantage that no other stock can match. ”

"What advantages?"

"Didn't we just say that the fundamentals of the stock market have changed fundamentally? This change refers to the large-scale infrastructure construction plan that is about to take place. The scale of this plan is trillions of yuan, and all this money has to be lent out through banks. Your stock is the leading stock in the banking sector, and it will benefit the most from large-scale lending in the future, and its operating performance should be better in the future. Last year and the year before that, its after-tax profit per share averaged about 0.8 yuan, and if the after-tax profit per share of this stock, next year and the following year can exceed 1 yuan, the price-earnings ratio is less than 10 times according to the current stock price. How much more do you think the stock price will fall at its current position compared to the future upside?"

"That's right. Wang Haoqiang said to himself.

"I don't recommend you to sell stocks at this time, today's rise is just starting from the bottom, and you will regret selling it at this time. Li Xin said.

"Then I'll keep it for a while. ”

When Li Xin was dismissing Wang Haoqiang, Zhang Shaohui stood behind them. Wang Haoqiang had just left after chatting with Li Xin, and Zhang Shaohui said, "Li Xin, how about you help me see this stock?"

Looking at the timeline on the computer screen, Li Xin said: "Damn, this stock is even more bullish, it didn't take long after the opening to rise and fall, and the price of this limit lasted until the close." ”

Zhang Shaohui said: "Today's rise is very good, but you see that the previous trend is a little scary." Saying that, Zhang Shaohui used the mouse to turn the time line on the computer screen into a daily K-line chart: "Look here, the closing price of this stock on October 24 was 13.49 yuan, down 5.6%, down 7.34% on October 27, October 28 was directly a down limit, and after opening low on October 29, it closed on the fall limit, and the closing price that day was 10.13 yuan." That price is down almost 30% from the closing price on October 24. From October 30th to last Friday, November 7th, although the price of this stock did not fall again, it has been continuously falling, and the lowest price on Friday was 7.66 yuan, which was nearly 25% lower than the closing price of 10.13 yuan on October 29. That is, from October 24 to last Friday, the stock was almost cut in half, falling by almost 50%. Although the stock market has been sluggish recently, it is very rare for this stock to fall so sharply in the recent period compared to other stocks. Although it opened high today and closed at the price limit of 8.73 yuan, it is still very far from the stock price on October 24.

"This stock has fallen a little fiercely in the past half a month!" Li Xin said as he looked at the trend on the K-line chart.

Zhang Shaohui said: "That's right, the market has not plummeted like this in the past half month, the Jingxi Coal Industry you bought and the bank stock that Wang Haoqiang said just now have not fallen so sharply, why did my stock fall so badly in the past half a month?"

Li Xin said: "Don't worry, you wait for me to see, I remember that this stock should be for the production of construction machinery, right?"

"Yes, it's the excavators. ”

Li Xin carefully checked the company's operating performance in the past few years, and then sighed: "Now is really not the time to sell stocks, the more I look at it, the more I realize that many stocks are very valuable for investment!"

Wang Minghui and Long Yunkai hurriedly walked over and asked, "What opportunity have you found again?"

Li Xin pointed to the computer screen and said: "If nothing else, let's just say that the after-tax profit per share of this stock was 0.76 yuan last year, and the after-tax profit per share of last year was 1.21 yuan, and what is the performance of this stock in the first half of this year? It is 0.78 yuan! The closing price of this stock today is 8.73 yuan, and if we calculate the price-earnings ratio of this stock according to the after-tax profit per share in the first half of this year or the whole of last year, its price-earnings ratio is less than 6 times!" In particular, the company's dividends over the years are quite considerable, the year before was 3.0 yuan per 10 shares, and last year it was 4.5 yuan per 10 shares. Buying such a stock with dividends alone will recoup the entire cost of investment in less than six years, and will the company's stock price still be at the current price in six years? If you count the growth of stock prices in the next six years, buying such stocks is completely profitable!"

Long Yunkai said: "Your analysis method also makes sense, according to the operating performance of last year and the year before that, the after-tax profit per share is still very good, and the static price-earnings ratio of this stock is almost only six or seven times, and the investment value is obvious." But you also have to consider the company's operating performance for the whole year, what if by the end of the year, the company's annual report is loss-making? If that's the case, it's hard to say whether the stock is high or low right now. ”

Long Yunkai's words reminded Li Xin and reminded him of the current situation of the Southern Group. It is now the beginning of November, and the semi-annual report of the listed company has come out, but the annual report is still far away. This year's economic situation is different from previous years, and many companies' full-year operating results will not be revealed until January and February next year. If the overall performance of this stock is to lose a lot this year, the investment value of its stock is another matter.

However, I have seriously considered this problem when analyzing the investment value of the shares of Jingxi Coal Industry, and the overall economic situation this year is not very good, but if the operating data of the semi-annual report is not bad, the annual report should not be so bad. So he said: "Mr. Long, what you said is also right, if the annual report comes out in the future and this year's after-tax profit per share is negative, the valuation space of this stock will be greatly discounted." However, judging from the data of the semi-annual report, the operating performance of the two companies we just mentioned is not bad. ”

Long Yunkai shook his head and said: "If this is in previous years, the semi-annual report data is still very revealing, but this year's situation is really different, and the operating performance of many companies in the second half of the year is much worse than that in the first half of the year." If you look at how much the broad market index has fallen since June 30, I know that many companies have suffered huge losses in their operating performance in the second half of the year, and they have lost all the money they made in the first half of this year. Although the companies I am talking about are not listed companies, there are some problems that can be seen from them. I estimate that among the listed companies, there are not a few companies that have suffered huge losses in the second half of the year and greatly swallowed up the operating performance in the first half of the year. ”