Title: Chinese Stocks Investigated by Institutions Exceeds 250, Code CNC Takes the Lead
In the past week, more than 250 Chinese stocks have been investigated by various institutions, with Code CNC taking the lead as the stock with the highest number of research institutions. This has caused concern among foreign investors and stock analysts.
Code CNC has attracted the most attention, with a total of 276 institutions investigating the company, including 41 public funds, 32 securities companies, 41 private equity companies, and 12 insurance companies. The company recently disclosed its “2023 Annual Performance Advance Announcement,” in which it expects significant growth. It anticipates achieving operating income of approximately 452 million yuan in 2023, marking a year-on-year increase of approximately 43.37%. The net profit attributable to the owners of the parent company in 2023 is expected to be between 100 million and 110 million yuan, representing a year-on-year increase of 65.42% to 81.96%.
Other stocks that have been investigated by more than 100 institutions include Changchun High-tech, CTI, Espressif Technology, and Zhuoyi Information.
According to Databao statistics, the rolling price-to-earning ratios of stocks such as Jingsheng Mechanical and Electrical, Kingkey Intelligent Agriculture, Arrow Energy, and Dongfang Electric Heating were less than 20 times. These stocks also saw significant net profit increases in the first three quarters of last year, some by more than 50% year-on-year. Kingkey Zhinong ranked first with a net profit growth rate of nearly 28 times. Additionally, the rolling price-to-earning ratios of stocks such as Kingkey Zhinong and Arrow Energy were less than 10 times.
The significant attention from institutions and the positive growth prospects of these companies are likely to draw interest from foreign investors. The investigation of these stocks is indicative of the high level of scrutiny and analysis performed on Chinese stocks, especially those showing potential for significant growth.
The stock market in China continues to be an important focus for both domestic and international investors, and the increase in investigations by institutions indicates a growing interest and scrutiny on the part of these investors.
Overall, these developments reflect the dynamic nature of the Chinese stock market and the attention it continues to draw from institutional investors. The impact of these investigations and growth prospects on foreign investment in Chinese stocks remains to be seen.