• 研报 | A股入摩7月表现回顾与展望

    28th August, 2018

    摘要:   北上资金成为MSCI标的中国A股的主要购买者,并对个别股增持 中国股票尤其是中概股对新兴市场指数影响进一步加大 北上资金推动个别板块涨幅 北京时间8月14日凌晨,MSCI明晟公司发布了2018年8月指数评估报告。报告显示明晟公司将实施将中国A股部分纳入明晟MSCI中国指数的第二步,将纳入因子从2.5%提升至5%,提升后中国A股占明晟新兴市场指数的权重为0.75...

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  • 回顾篇:6月A股入摩(MSCI)表现回顾

    12th July, 2018

    摘要:   预告:对话MSCI,A股 入摩一月表现与展望 2018年7月4日,综合MSCI 新兴市场指数纳入中国A股的的背景与入摩一个月的表现,辉立资本新加坡于7月4日(周三)与MSCI 的客户经理 Rajarshi Sen 进行了会面讨论。 会议中,Raj 就8月的第二步纳入计划,纳入因子的扩展,被动与主动基金的大体数目等议题进行了详细得介绍。 由于相关材料和结论仍待M...

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  • 股票研报 | 联美控股 (600167.SH) – 内生外延驱动未来高成长

    30th April, 2018

    摘要: 投资概要 全年净利润增长超出市场预期 供暖主业驱动业绩高增长 战略佈局3D成像,外延扩张加速 全年净利润增长超出市场预期 2017年联美控股实现营业收入23.76亿元,同比增长16.24%,归母净利润9.22亿元,同比增长31.93%,对应每股收益1.157元,同比增长12.6%。其中Q1/Q2/Q3/Q4归母净利润分别为4.52/-1.43/1.72...

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  • 宇通客车 (600066.CH) – 行业洗牌利好龙头扩张

    23rd April, 2018

    摘要: 投资概要 因为行业政策变动影响,宇通客车2017 年的业绩下滑超过两成,补贴政策退坡、账期拉长,以及产品促销削弱了公司盈利能力。不过公司市占率逆势上升,坏账有望转回有利于2018年公司业绩回暖,海外市场也值得期待。我们下调目标价,但维持增持评级。 2017年业绩下滑逾两成 宇通客车2017 年实现营业收入 332.22 亿元,同比减少 7.33%;归母淨利润 31...

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  • 龙淨环保 (600388.SH) – 前三季度业绩稳健,大股东完成增持

    4th December, 2017

    摘要:   概述   大股东完成增持,安全边际显现; 非电领域广阔市场空间亟待释放;   投资评级   看好未来三年非电治理领域的市场需求释放,公司作爲行业龙头受益较爲确定。我们预测公司2017-2018淨利闰分别爲7.32亿元、8.15亿元,EPS分别爲0.69元、0.76元,对应2017/2018年23.0 /20.7市盈率,给予目标...

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