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historically, after eight major bottoms of the a-share market, undervalued industries were more likely to obtain excess returns than overvalued industries.

the a-share stock with the lowest market value was officially delisted

on the evening of september 19,*st meishangthe announcement stated that the company's shares have been decided to be delisted by the shenzhen stock exchange and will be delisted on september 20. it is worth mentioning that the latest closing price of *st meishang is 0.13 yuan per share, and the latest market value is 87.66 million yuan. among the stocks that have not yet been delisted, the closing price and a-share market value are both the lowest values ​​of a-shares.

from april 8, 2024 to may 8, 2024, the closing price of *st meishang's stock was lower than 1 yuan for 20 consecutive trading days, triggering the relevant delisting regulations of the shenzhen stock exchange.

data shows that *st meishang's revenue in 2017 reached 2.073 billion yuan, a record high. since then, its operating performance has taken a sharp turn for the worse, with a net loss of 853 million yuan in 2020. in 2021, 2023 and the first quarter of 2024, the company continued to lose money, with a total loss of 3.301 billion yuan in more than four years.

*st meishang's main business covers three major areas: ecological restoration, ecological tourism, and ecological products. the company was listed on the growth enterprise market in december 2015. at the beginning of its listing, its share price once reached 153 yuan per share (without adjustment), and its total market value of a shares exceeded 10 billion yuan.

after going public, *st meishang has been repeatedly involved in financial fraud, information disclosure violations, and fraudulent issuance. according to disclosed information, *st meishang has been committing financial fraud since 2012 and continued until 2020. the company went public in 2015, which means that it had been committing financial fraud before going public.

according to the securities times databao statistics, as of the latest closing, among the low-priced stocks, there are 178 stocks with a share price below 2 yuan, the lowest of which is *st meishang, with the latest closing price of 0.13 yuan, followed byst solectron, *st vision, the latest closing prices were 0.37 yuan and 0.37 yuan respectively. among the stocks with a share price below 2 yuan, there are 46 st stocks on the list, accounting for 25.84%.

the undervalued sector rebounded

on september 19, a-shares saw a large-scale rebound, with almost all industry sectors rising. on the one hand, the federal reserve announced a 50 basis point interest rate cut, and global liquidity easing may be coming; on the other hand, a-shares have experienced a continuous decline for more than three months, and the overall valuation has reached its historical lowest level, and there is a need for a rebound.

generally speaking, the returns from undervalued industries in a rebound market will be more substantial. after the market bottoms out and rebounds, while undervalued industries rise, industries with higher performance growth rates and industries related to hot topics are more likely to achieve higher gains.

the food and beverage sector has gained favor from capital due to its low valuation and stable performance.on the market, the food and beverage sector surged yesterday, with many stocks such as pinwo food, huifa food, and qia qia food hitting their daily limit.

according to statistics from galaxy securities, historically, after eight major bottoms of the a-share market, undervalued industries were more likely to obtain excess returns than overvalued industries.

ping an securities research report stated that, on the whole, the current a-share valuation is at a historically low level. structurally, it is recommended to continue to focus on the direction of long-term policy support and active industry catalysis.

the secret of undervalued blue chip stocks

databao has counted industries and individual stocks with low valuations and high performance growth rates. these individual stocks have excellent fundamentals and sufficiently cheap valuations, so their stock prices may be more elastic.

among the shenwan sectors, there are 20 sectors with current valuations below 20% of the p/e ratio percentile in the past 10 years. among them, the sectors with performance growth exceeding 5% in the first half of this year include:social services, public utilities, light manufacturing, food and beveragesand other 8 industries.

the current price-to-earnings ratio of the food and beverage industry is 16.8 times, which is at the historical percentile of 0.08%. as a heavily invested sector by northbound funds, food and beverage is expected to attract capital inflows.

the valuations of the social services and utilities industries are both at 0.16% of the historical percentile. benefiting from the recovery in demand and policy support, the performance of the social services industry continued to improve in the first half of this year, achieving a net profit of 4.157 billion yuan, with a net profit growth rate of more than 105%. the performance growth rate ranked second in the entire shenwan industry, second only to agriculture, forestry, animal husbandry and fishery.

from the perspective of individual stocks, in the above-mentioned undervalued industries, the latest price-to-earnings ratio is less than 30 times, and the year-to-date decline is more than 30%; there are 8 individual stocks whose net profit in this semi-annual report exceeded 100 million yuan and whose performance growth rate exceeded 20%.

from the industry perspective,zhongju high-tech, baby food, gujing gongjiu, shanxi fenjiu, juewei foodfive food and beverage stocks were selected, among which zhongju high-tech achieved a net profit of 350 million yuan in the first half of this year, turning losses into profits year-on-year. gaoyi linshan no. 1 yuanwang no. 1 fund, led by feng liu, a well-known fund manager under gaoyi asset, continued to hold 15 million shares in the second quarter, the same number of shares as in the first quarter report, and the reference market value of the holdings in the interim report was 340 million yuan.

from the perspective of market value, shanxi fenjiu's latest market value is 186.825 billion yuan, ranking first, followed by chemical fiber leader tongkun shares, which reached 25.413 billion yuan. tongkun shares were favored by gaoyi asset in the second quarter, and its gaoyi linshan no. 1 yuanwang no. 1 product managed by feng liu newly held 23.5 million shares, becoming the eighth largest shareholder of circulating shares.

low-valuation, high-growth potential stocks are released

from the perspective of future growth, databao has screened out 18 stocks from the above-mentioned eight undervalued sectors, based on the consensus forecasts of more than three institutions, whose average net profit growth rate will exceed 30% in the next two years.

wrapping paper faucetshanying internationalthe company is turning its troubles around, and institutions predict that its performance growth this year is expected to exceed 270%. in the first half of this year, the company achieved a net profit of 114 million yuan, turning losses into profits. not only that, starting from the second quarter of 2023, the company has achieved profits for five consecutive quarters and multiple key performance indicators have improved significantly.

tianfeng securities stated that based on a comprehensive analysis of pulp prices and domestic waste prices, the raw material costs of domestic paper companies may further improve, and industry profits are expected to slowly improve in the second half of the year.

industrial internet of things little giantyinghantongit has also been unanimously optimistic by institutions. the policy catalysis and technology drive resonate, and the tide of industrial internet of things is rising. minsheng securities said that the improvement of the company's independent innovation capabilities is expected to bring about a comprehensive improvement in the quality of its main business and further optimization of its profitability.