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The stock prices of companies that have already achieved performance turning points have rebounded sharply. Who will be the next?

Goertek, a leader in consumer electronics

A new high

In the morning of July 16,GoertekThe stock price rose by more than 8% during the day, reaching a new high in the past year, and the market value of A shares exceeded 80 billion yuan. Compared with the low point this year, the stock's maximum rebound has reached more than 70%.

GoertekIt is one of the leaders in the field of domestic consumer electronics. Its main products include precision components such as acoustics and optics, as well as smart hardware products such as VR virtual reality, MR mixed reality, and smart wearables. It mainly serves leading customers in the global technology and consumer electronics industries. In 2021, the company's net profit reached a record high, and in December of that year, the company's stock price also hit a record high. However, in the following two years, due to inflation, economic downturn, and weak demand for consumer electronics, the company's net profit continued to decline, and its stock price also fell sharply.

After experiencing a low point for nearly two years, Goertek will usher in a new turning point in performance in 2024.On the evening of July 14, the company disclosed its semi-annual performance forecast, estimating net profit in the first half of the year to be 1.181 billion yuan to 1.265 billion yuan, a year-on-year increase of 180% to 200%.During the reporting period, under the company's business orientation of strengthening lean operations and improving profitability, the profitability of the smart acoustic equipment and smart hardware businesses improved. In terms of a single quarter, the net profit in the second quarter is expected to be 801 million yuan to 885 million yuan, a month-on-month increase of 110.79% to 132.89%.

Goertek's experience is a microcosm of the consumer electronics industry. After nearly two years of "cold winter", the consumer electronics market is showing signs of recovery.

According to the latest data, domestic smartphone shipments from January to May 2024 reached 115 million units, a year-on-year increase of 11.1%. Globally, PC shipments reached 62.8 million units in the second quarter of 2024, a year-on-year increase of 3.4%. The agency predicts that the growth rate of wearable wristband devices will reach 10% in 2024, and global smartwatch shipments are expected to increase by 17%.

Regarding the future trends of the industry, Tao Bo, an analyst at BOC Securities, pointed out that first, both smartphones and PCs are approaching the critical point of the replacement cycle, and the demand for "passive replacement" is expected to recover. Secondly, the launch of smartphones with stronger AI capabilities and AI PCs may stimulate the demand for "active replacement". Finally, driven by hardware iteration and mature content, XR devices are expected to open up the consumer market and usher in new development opportunities. Therefore, the influence of multiple factors is expected to drive the continued recovery of the consumer electronics industry.

The number of shortlisted companies in the four major industries is the largest

For investors, the performance turning point of listed companies is of great significance. It usually marks a shift in the company's performance trend or is expected to change in magnitude in a good direction.

GoertekThis is not an isolated case of performance turning point. It is currently the peak period for the disclosure of semi-annual performance forecasts. Some A-share companies have shown signs of turning point in their operating performance due to changes in industry prosperity, improved operating efficiency, technological upgrades, policy support and other reasons.

Securities Times Databao screened out companies that have disclosed their semi-annual performance forecasts and found companies that have shown signs of performance turning points. The conditions are as follows:

1. Calculated according to the lower limit of the forecast net profit (if there is no lower limit, the announced value will be taken), it is expected to be profitable in the first half of 2024, and the year-on-year and month-on-month growth rates of net profit are both positive.

2. Achieve profitability in the first quarter of 2024 and achieve positive year-on-year growth in net profit.

3. Net profit in 2022 and 2023 both declined year-on-year.

According to Databao statistics, a total of 69 companies were shortlisted. These companies are mainly from the electronics, basic chemicals, machinery and equipment, and non-ferrous metals industries, with 21, 12, 5, and 4 companies shortlisted respectively, accounting for more than 60% in total.

The electronics industry has the largest number of companies on the list, including several semiconductor companies, such asWill Semiconductor, Huatian Technology, GigaDevice, Jingfang Technology, Rockchip, Tongfu Microelectronicswait.

Leading companiesWeil sharesFor example, the company expects its net profit in the first half of the year to be 1.308 billion yuan to 1.408 billion yuan, a year-on-year increase of 754.11% to 819.42%.Calculated on a quarterly basis, the net profit in the second quarter is expected to increase by 34.46% to 52.33% quarter-on-quarter.。

Founder Securities said in a research report that thanks to the accelerated introduction of mobile phone CIS in the mid-to-high-end Android market and the continued penetration of in-vehicle CIS, Will Semiconductor's quarterly revenue hit a record high and its profit performance exceeded expectations. As the leading domestic CIS company, the company's performance has clearly turned around and a new round of product strength cycle has already started.

From the perspective of the basic chemical industry,Sanmei Holdings, Huayi Group, Sanyou Chemical, Huafeng ChemicalLeading companies such as ETFs have shown signs of turning points.

bySanmei SharesFor example, the company expects its net profit in the first half of the year to be 334 million to 434 million yuan, a year-on-year increase of 157.19% to 234.35%.The second quarter net profit is expected to increase by 16.2% to 81.59% month-on-monthDuring the reporting period, benefiting from the upward trend in the refrigerant market, the company's hydrofluorocarbon (HFCs) product prices increased year-on-year. At the same time, the prices of some major raw materials decreased year-on-year, further expanding the profit margin of refrigerant products.

The company's performance has reached a turning point and rebounded significantly

Northbound funds bought 6 stocks

From the perspective of secondary market performance, as of the close of July 15, the average rebound of the closing prices of the 69 companies with performance turning points from the low point of the year reached 51.38%. The stock prices of four companies rebounded by more than 100%, namelyChunzhong Technology, Baichuan Holdings, Concord Electronics, Nanya New Materials。

Chunzhong Technology had the largest rebound, with the latest closing price of the stock rebounding 242.9% from the low point of the year. The company expects its net profit in the first half of the year to be 37 million to 41 million yuan, a year-on-year increase of 460.15% to 516.16%. During the reporting period, the company proactively deployed new products, new tracks, and new businesses, and achieved remarkable results; overseas business expansion was gradually implemented, and the business docking with "N Company" achieved a breakthrough from 0 to 1, and overseas business revenue increased significantly year-on-year.

From the perspective of funds, since July, there are 6 companies whose northbound funds have increased their holdings by more than 100 million yuan, namelyGoertek, Shengyi Technology, Xinhecheng, GigaDevice, Rockchip, Huatian Technology.in,GoertekIt received an increase of 578 million yuan in northbound funds, ranking first.

From the perspective of valuation level, as of the close of July 15, among the 69 companies mentioned above, 13 stocks had a rolling P/E ratio of less than 30 times.

inMingtai AluminumThe rolling P/E ratio is 12.4 times, ranking the lowest. The company expects a net profit of 1 billion to 1.1 billion yuan in the first half of the year, a year-on-year increase of 25% to 37%. During the reporting period, the company's semi-annual sales increased by about 19%. At the same time, the company focused on improving its product structure, and the proportion of products in the fields of intelligent equipment manufacturing and new energy was further increased; the advantages of recycled aluminum in grade preservation applications continued to highlight, and the proportion of recycled aluminum use continued to expand, increasing the profit margin per ton.

Statement: All information content of Databao does not constitute investment advice. The stock market is risky and investment should be cautious.

Editor: He Yu

Proofreading: Yang Shuxin

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