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Institutions strongly recommend 9 stocks-updating

Time: January 9, 2020 16:00:50 China Finance Network
[15:57 Perfect World (002624) In-Depth Report: Historical Product Verification, Movie Games Strength, Excellent Reserves, and Expected Growth]

On January 9, Perfect World (002624) was highly recommended.

Profit forecast: The agency predicts that the company's net profit attributable to its mother in 19-21 will be 21.6 / 26.1 / 30.9 billion yuan, corresponding to a valuation of 25/21/18 times, covering for the first time, optimistic about the company as a video game giant, historical product verification strength, quality Product reserves are rich and growth can be expected, and a strong recommendation rating is given.

Risk warning: policy risks, game launch time and flow are not up to expectations, film and television projects have not been up to expectations. The stock has received 72 buy ratings, 16 recommended ratings, 12 outperformed industry ratings, and 12 overweights in the last 6 months. Ratings, 7 Strongly Recommended-A Ratings, 5 Prudently Recommended Ratings, 3 Prudent Overweight Ratings, 2 Outperform Ratings, 2 Buy-A Ratings, and 1 BUY Ratings.


[15:37 Gezhouba (600068) Series Report 2: Double-click on the bottom of the restlessly positive outlook for performance valuation]

Gezhouba (600068) was highly recommended on January 9.

Company's profit forecast and investment rating: The agency predicts that the company's revenue for 2019-2021 will be 115.227 billion yuan, 130.289 billion yuan and 147.118 billion yuan, and the net profit attributable to the parent will be 5.427 billion yuan, 6.408 billion yuan and 7.68 billion yuan, and the corresponding eps is 1.18 yuan, 1.39 yuan and 1.67 yuan. The current stock price corresponding to the PE value of 2019-2021 is 5.3 times, 4.5 times and 3.7 times respectively. The company's diversified business structure is valued item by item. It is optimistic that the company's market value will increase to about 54.1 billion in 2021, which is 92% more room than the current market value. Using relative and absolute valuation methods, the comprehensive estimation of the company's reasonable valuation is 8.25 yuan / share, corresponding to PE values of 7 times, 5.9 times and 4.9 times for 2019-2021, respectively, which has 35% growth space compared to the current stock price. Based on the company's high-quality asset business layout in multiple high-potential markets, an active overseas strategy, an open business mentality, a strategic route focusing on high-quality development, and domestic counter-cyclical control efforts are expected to increase. The United States has reached the external environment of a phased economic and trade agreement. The agency is optimistic about the company's short-term business resilience and mid-to-long-term diversification advantages, and optimistic about the company's synergistic competitive advantages and structural transformation potential. Maintain "Highly Recommended" rating.

Risk Warning: Overseas business risks, investment is less than expected risk, project landing is less than expected risk, financial risk.

The stock has received 15 overweight ratings, 14 buy ratings, 3 outperforming industry ratings, 3 highly recommended ratings, and 1 prudent overweight rating in the past 6 months.


[15:37 Poly Real Estate (600048) 2019 Performance Express Review: Performance Exceeds Expectations, Highlights Leading Model]

On January 9th, Poly Real Estate (600048) was strongly recommended.

Investment suggestion: The performance exceeded expectations, highlighting the leading model, and reiterated that the “strong push” rating company's active change began in 16 years. In terms of goals, Chairman Song Guangju proposed to return to the top three in the industry in the next three years, revealing the leading spirit of central enterprises; In 2017, a vigorous follow-up investment program was launched to lead the highest level of central SOEs to eliminate the criticism of insufficient incentives. In terms of resource integration, the acquisition of real estate projects under AVIC Group was completed, and the acquisition of equity interests in Poly Real Estate also made breakthrough progress, highlighting the advantages of resource integration; 16-19 years, The company is actively acquiring land, focusing on the first-tier and second-tier cities, and optimizing the land structure while reducing costs steadily. During the same period, the company ’s sales have continued to increase rapidly, and its performance has now entered a bumper period. In addition, the listing of Poly Real Estate's Hong Kong stocks will help increase the company's valuation. In view of the company's 19-year performance release exceeding expectations and abundant advances, the agency raised the company's earnings per share in 2019-21 to 2.23, 2.67, and 3.08 yuan (original values of 2.06, 2.47, and 3.00 yuan), corresponding to 19-20 PE At 7.0 and 5.8 times, the dividend yields of 18A and 19E reached 3.2% and 4.5%, respectively, maintaining the target price of 20.62 yuan, reiterating the "strong push" rating.

Risk warning: The real estate industry ’s regulatory policies tightened more than expected and the industry ’s funds tightened more than expected. The stock has received 89 buy ratings, 34 overweight ratings, 20 outperformed industry ratings, and 9 strong push ratings in the past 6 months. , 9 times recommended rating, 7 times highly recommended rating, 5 times highly recommended-A rating, 4 times better than market rating, and 1 time BUY rating.


[15:37 Poly Real Estate (600048) December 2019 Sales Data Review: Sales Maintained a Steady Increase at the End of the Year]

On January 9th, Poly Real Estate (600048) was strongly recommended.

Investment suggestion: Sales keep growing steadily, sprinting at the end of the year, and reiterate that the "strong push" rating company's positive change began in 16 years. In terms of goals, chairman Song Guangju proposed to return to the top three in the industry in the next three years, showing the leading spirit of state-owned enterprises; incentives In 17, launched a vigorous follow-up investment program to lead the highest level of central enterprises to eliminate the criticism of insufficient incentives; in terms of resource integration, the acquisition of real estate projects under the AVIC Group has been completed, and the acquisition of equity in Poly Real Estate has also made breakthrough progress, highlighting the advantages of resource integration; 16-19 years The company actively acquires land, focusing on the first and second tiers and urban areas. The optimization of the structure of land acquisition and the steady decline in costs have caused the company's sales to increase rapidly during the same period. The current performance has entered a bumper period. In addition, the listing of Poly Real Estate's Hong Kong stocks will help increase the company's valuation. In view of the company's 19-year performance release exceeding expectations and abundant advances, the agency raised the company's earnings per share in 2019-21 to 2.23, 2.67, and 3.08 yuan (original values of 2.06, 2.47, and 3.00 yuan), corresponding to 19-20 PE At 7.0 and 5.8 times, the dividend yields of 18A and 19E reached 3.2% and 4.5%, respectively, maintaining the target price of 20.62 yuan, reiterating the "strong push" rating.

Risk warning: The real estate industry's regulatory policies tightened more than expected and the industry's funds tightened more than expected.

In the past 6 months, the stock has received 89 buy ratings, 34 overweight ratings, 20 outperforming industry ratings, 9 strong push ratings, 9 recommended ratings, 7 strongly recommended ratings, and 5 highly recommended-A Rating, 4 times better than the market rating, 1 time BUY rating.


[15:27 SAIC Group (600104) Major Events Comments: December's growth rate is waiting for GM adjustment]

On January 9th, SAIC (600104) was given a strong push rating.

Investment suggestion: Combined with the sales volume in 2018, the agency adjusted the company's net profit attributable to mothers in 2019-2021 to 28.6 billion, 30.3 billion, and 32.7 billion yuan (previously 28.6 billion, 31.9 billion and 35 billion yuan), with year-on-year growth rates of- 21%, + 6%, + 8%, corresponding to current PE is 9.8, 9.2, 8.5 times. Maintain 10 times the 2020 target PE and adjust the target price to 25.9 yuan (previous value: 27.3 yuan). Considering that the industry boom is expected to be continuously repaired, maintain the “strong push” rating.

Risk warning: Macroeconomics is worse than expected, GM and Wuling are performing worse than expected.

The stock has received 90 buy ratings, 20 overweight ratings, 14 recommended ratings, 5 strong push ratings, 5 outperformed industry ratings, 3 strongly recommended-A ratings, and 3 cautious recommendations in the past 6 months. Rating, 3 times better than the market rating, and 1 hold rating.


[15:07 Trinity Spectrum (002876) In-depth Research Report: Domestically Made Panel Materials Speed Up Polarizer Faucet Flutters To Fly]

On January 9, Sanlipo (002876) was highly recommended.

Risk warning: downstream demand is less than expected, and domestic substitution is not progressing as expected.

The stock has received 10 buy ratings and 3 overweight ratings from the institution in the last 6 months.


[15:07 Changyuan Power (000966) 2019 electricity data and performance forecast comments: high performance and increase electricity prices without worry]

On January 9th, Changyuan Power (000966) was strongly recommended.

Earnings forecast, valuation and investment rating: Due to the year-on-year decline in power in the fourth quarter, the agency adjusted the company's net profit forecast to return to its parent in 2019-2021 to 570 million yuan, 720 million yuan, and 860 million yuan (the original forecast was 590 million yuan) , 680 million yuan, 880 million yuan), an increase of 172.6%, 26.2%, and 20.2% year-on-year, corresponding to PE of 9.3, 7.4, and 6.1 times. The reference CS thermal power sector is comparable to the company's average PE value in 2020, which gives the company 2020 11x PE, corresponding to a target price of 7.12 yuan, maintain "Strong Push" rating.

Risk warning: coal prices rise sharply; electricity prices are reduced; power generation is less than expected.

In the past 6 months, the stock has received 29 buy ratings, 4 buy-A ratings, 4 strong push ratings, 2 prudent overweight ratings, 2 recommended ratings, and 2 strongly recommended ratings.


[12:31 WuXi AppTec (603259) In-depth Report: Long-term certainty and high growth of the world's leading CRO / CMO leader]

On January 9th, WuXi AppTec (603259) was highly recommended.

Profit forecast and valuation: The company's corresponding EPS for 2019-2021 is expected to be 1.32, 1.66, and 2.07 yuan, corresponding to 69 times, 55 times, and 44 times PE. Covered for the first time, giving the company a "strong recommendation" rating.

Risk warning: new drug R & D outsourcing needs, new business, international expansion is not up to expectations, exchange rate fluctuations, etc. The stock has received 46 buy ratings, 19 overweight ratings, 13 recommended ratings, and 3 prudent increases in the past 6 months. Hold rating, 3 outperform industry ratings, 2 buy-A ratings, 1 buy-B ratings, 1 strongly recommended ratings, 1 strongly recommended -A ratings, and 1 outperformed market rating.


[09:31 Poly Real Estate (600048) Matters Comment: Performance Exceeds Expectations, Increases Highly, Heads for New Journey]

On January 9, Poly Real Estate (600048) was strongly recommended.

Investment suggestion: Considering that the company's project settlement progress and profitability are better than expected, raise the company's EPS forecast for 2020-2021 to 2.79 (+0.29) and 3.4 (+0.4). The current stock price corresponds to PE of 5.6 times and 4.6 times, respectively. The company's incentive system has been continuously improved, performance sales have continued to increase, and the property sector has been separated and listed to increase its valuation and maintain a “strong recommendation” rating.

Risk reminders: 1) The current overall property market has cooled down, and the third and fourth lines are subject to adequate supply and shrinking demand. In addition, there has been no significant adjustment before. It is expected that the subsequent volume and price will face greater pressure. There may be third and fourth line property markets in the future. The unexpected pressure adjustment caused sales pressure, which caused the company's third- and fourth-tier project impairment risks; 2) Affected by the hot property market, the land price continued to rise since 2016, and the subsequent price limit policies of various cities were successively introduced, and the company's gross profit margin faced the risk of decline in the future 3) At present, the overall control of the industry's capital is tight, and the difficulty of sales in the property market has increased significantly. If the subsequent adjustment of the property market cools down more than expected, the company faces the risk of capital pressure.

In the past 6 months, the stock has received 85 buy ratings, 33 overweight ratings, 19 outperform industry ratings, 9 strong push ratings, 9 recommended ratings, 6 strongly recommended ratings, and 5 highly recommended-A Rating, 4 times better than the market rating, 1 time BUY rating.


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