Gem Refers To The Market Down 1.59%, Fell 1400 Points.

< p > March 24th, Monday, < a href= "//www.sjfzxm.com" > gem < /a > refers to the adverse market decline. At the close, the gem index reported 1397.29 points, or 1.59%.

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< p style= "text-align: center" > < img border= "0" align= "center" alt= "" src= "" /uploadimages/201403/24/20140324033131_sj.JPG "/" < > > "

< p > stocks, 87 stocks rose, of which Xinwei communications, Shanghai Jia Hao limit; 250 stocks fell, of which, more than profits, Tianji technology, halo new network limit.

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< p > < strong > message surface < /strong > /p >

< p > according to the revised contents, the "first round approach" will stipulate that the net profit of the first two years has been continuously increased for the past two years, and the net profit in the recent two years has not only been less than ten million yuan, but has continued to grow, or the profit has been made in the latest year, and the net profit is not less than five million yuan. The operating income of the recent year is not less than fifty million yuan, and the operating income growth rate in the recent two years is not less than thirty percent. It is revised as "continuous profit in the recent two years. The net profit in the recent two years is not less than ten million yuan, or the profit in the latest year, and the operating income in the recent year is not less than fifty million yuan".

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< p > Zhang Xiaojun, a spokesman for the securities and Futures Commission, said that after the revision, the conditions of issuance were simplified, the demand for continuous growth was abolished, the coverage of SMEs in the growth enterprise market was expanded, and the support for the development of innovative and growing enterprises was further strengthened.

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< p > < strong > organization: raise vigilance against gem at stage /strong < /p >

Mao Nan, chief strategist, believes that the recent downturn in the growth enterprise market is mainly due to the impact of IPO gate opening (the whole year is expected to be 600), the recent devaluation of the RMB exchange rate, the gradual exposure of credit events and the redemption of the insurance fund, according to Mao Nan, chief strategist at P, //www.sjfzxm.com/news/index_s.asp href=.

At present, the market mainstream view is pessimistic, the main logic lies in: 1, the economy continues to lower than expected; 2, interest rates continue to be high; 3, credit events reduce risk preferences.

And our view is: for the overall market need not be too pessimistic, but over the next few years, the gem's excess earnings will be substantially reduced.

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< p > Mao Nan analysis suggests that we should step up vigilance against gem, based on the following logic: first, the relationship between supply and demand of gem is changing.

1) IPO, which may be restarted in April; 2) the refinancing of GEM may be liberalized; 3) the moving process of stock capital is coming to an end; from last year's traditional industries to emerging industries, this year's blue chips will go to new industries.

Great changes have taken place in the overall configuration, and many GEM stocks have gradually become the fund's heavily loaded stocks.

Second, from the perspective of trade, there is a possibility of falling.

Leading shares and leading industries have taken the lead, and volume has reached a level that is hard to continue to expand, and margin trading is decreasing.

Third, from a policy point of view, it is conducive to the game of large cap stocks.

Financial, real estate, liquor and so on are already seriously low allocation. The stock price reflects a very pessimistic expectation, and the policy has begun to turn to the possibility of future overweight.

To sum up, it is suggested that the GEM stocks should be reduced in operation, or the allocation of real estate < a href= "//www.sjfzxm.com" > plate < /a > can be appropriately increased.

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