More than a thousand companies have announced that the net profit of over 100 million A-share “performance map” is gradually emerging
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The recent intensive disclosure of annual report forecasts has made the “performance map” of A shares in 2022 increasingly clear, and the vigorous strength shown in many areas has attracted market attention. Flush data shows that as of press time, among the 2,662 A-share listed companies that have disclosed the 2022 annual performance forecast, more than 1,030 companies are expected to have a net profit limit of more than 100 million yuan, leading the performance in new energy, pharmaceutical and biological fields. At present, institutions are generally optimistic about the macroeconomic recovery in 2023, and they are also quite confident in the recovery of listed companies’ profits.
Nearly 600 companies are expected to double their net profit
Flush data shows that according to the forecasted net profit upper limit statistics, there are currently more than 1,030 listed companies expecting the upper limit of net profit attributable to their parents to exceed 100 million yuan in 2022, and nearly 240 companies are expected to exceed 1 billion yuan. PetroChina, CNOOC, More than 20 companies including China Shenhua and Kweichow Moutai announced that the upper limit of net profit will exceed 10 billion yuan.
From the perspective of the growth rate of net profit attributable to the parent company, according to the largest change in year-on-year growth, a total of more than 1,200 companies are expected to achieve positive growth in net profit attributable to the parent company, and nearly 600 companies are expected to double the net profit attributable to the parent company year-on-year. Among them, excluding companies that have turned losses into profits, Cangzhou Dahua, Ningbo Fubon, Rongjie, Jiaying Pharmaceutical, and Jixiang are among the top five in terms of net profit growth. %, 6139.00%, 3707.33%, 3419.94%, and 2937.39%. For example, Cangzhou Dahua disclosed that the company expects to achieve a net profit of 416 million to 426 million yuan in 2022, a year-on-year increase of 7773.11% to 7962.50%. The company stated that the expected increase in performance is mainly due to the significant increase in the main business income, the average sales price of the company’s leading product TDI has increased significantly year-on-year, and the operating performance has improved significantly; The management has achieved certain effects, and the overall profitability has been improved.
However, investors are quite concerned that some listed companies are also under pressure from factors such as rising costs and the provision of large asset impairments. Many of these companies have been inquired by the exchange due to large pre-loss performance in 2022. For example, due to the large amount of goodwill impairment provision made by Sanfeng Intelligent, the company expects a loss of 375 million to 503 million yuan in 2022. The company made a profit of 32.08 million yuan in the first three quarters of 2022, and no goodwill impairment provision was made. The Shenzhen Stock Exchange requires Sanfeng Intelligent to explain the production and operation of its acquisition target in each quarter of 2022, explain the specific time point when the goodwill shows signs of impairment, and whether there is any situation in which profits are adjusted by accruing a large amount of goodwill impairment reserves. In addition, Helitai, *ST Tengxin, *ST Jiyao, *ST Culture, Jin Tongling and many other companies also received letters of concern from the exchange due to their performance forecasts.
Leading performance of new energy medicine
In terms of industries, the new energy industry chain represented by photovoltaics, lithium batteries, and new energy vehicles performed well. Benefiting from the continuous improvement of the prosperity of the new energy industry, Rongjie is expected to achieve a net profit of 2.2 billion to 2.6 billion yuan in 2022, a year-on-year increase of 3121.58% to 3707.33%. According to the company, the expected increase in performance is mainly due to the continuous sharp rise in the prices of upstream material products in the lithium battery industry, the continued increase in demand for lithium battery materials and lithium battery equipment, and the substantial increase in operating income and profits of the company’s lithium concentrate, lithium salt, and lithium battery equipment; The joint venture of the salt business has made substantial profits, and the investment income confirmed by the company has increased significantly. Due to factors such as the rapid growth of business in the new energy field, Jingquanhua expects that the net profit attributable to shareholders of listed companies in 2022 will increase by 527.25% to 677.79% year-on-year.
The performance of the two new energy vehicle giants BYD and CATL also exceeded market expectations. On the evening of January 30, BYD released its 2022 annual performance forecast, showing that the company expects its operating income in 2022 to exceed 420 billion yuan, and achieve a net profit attributable to shareholders of listed companies of 16 billion to 17 billion yuan, a year-on-year increase of 425.42% to 458.26%. . According to the company, the new energy vehicle industry continues to grow explosively. As a leader in the new energy vehicle industry, the company’s sales of new energy vehicles have achieved strong year-on-year growth. Benefiting from the continuous growth of the power battery and energy storage industry market, Ningde Times expects to achieve a net profit attributable to the parent company of 29.1 billion to 31.5 billion yuan in 2022, a year-on-year increase of 82.66% to 97.72%.
A number of listed companies in the pharmaceutical and biological industry have seen the largest increase in net profit attributable to their parents, and their performance has been impressive. The net profit attributable to the parent of more than 10 pharmaceutical and biological companies including Jiaying Pharmaceutical, Jiu’an Medical, Ailisi, and Yaoyigou increased by more than 300% year-on-year. Among them, Jiaying Pharmaceutical is expected to achieve a net profit of 42 million yuan to 52 million yuan in 2022, an increase of 2743.02% to 3419.94% year-on-year; The net profit is 16.5 billion to 17.5 billion yuan, an increase of 1715.90% to 1825.95% year-on-year; Ailisi is expected to achieve a net profit of 126 million to 151 million yuan, a year-on-year increase of 589.45% to 725.82%.
Institutional multi-line layout annual report market
According to the comprehensive annual report performance forecast, the agency predicts that various risk factors that suppress A shares are gradually released, and the superimposed economic stabilization policy continues to exert force. The profitability of listed companies is expected to rebound, and the future performance outlook of multiple fields and multiple sectors is positive.
According to the research report of CICC, with the continuous optimization and adjustment of epidemic prevention and control policies, the future performance outlook of many sub-sectors is positive, such as pharmacies, traditional Chinese medicine, electric two-wheeled vehicles and other fields. The performance is expected to exceed expectations. In the 2022 performance forecast and flash report disclosure stage, focus on three main lines of investment based on annual report performance: areas that benefit from economic recovery and policy support, and are relatively sensitive to policies; high-prosperity areas where annual report performance exceeds expectations or significantly improves month-on-month; fundamentals are facing an inflection point And gradually bottomed out the plate.
Huatai Securities believes that based on the disclosed performance forecast, there are four types of sectors that may exceed expectations: First, sectors that have accrued a large amount of asset impairment in 2021, and the performance of the 2022 annual report is expected to increase under a low base. Equipment, decoration, consumer building materials, advertising and marketing, feed, traditional Chinese medicine, etc.; second, sectors that benefit from fluctuations in the RMB exchange rate and appreciation of foreign exchange assets, such as general machinery, small metals, etc.; third, sectors that are expected to improve profit margins, you can pay attention Condiments, food, dairy products, etc. under the expected improvement in raw material costs, computers, communications, etc. related to the expected improvement in labor costs; the fourth is the sectors that will continue to thrive in the fourth quarter of 2022, such as oil and gas exploration, fine chemicals, lithium batteries, etc.
Looking forward to 2023, China Securities said that many sectors may usher in improvement under policy stimulus, demand recovery and low base. The fourth quarter of last year was a period of policy-intensive release. The optimization of epidemic prevention and control policies, real estate policy adjustments, and technology policy support all provided upward support for industry profits in 2023, including the catering chain that benefited from the restoration of consumption scenes, the consumption of building materials and the real estate chain. Glass, the pharmaceutical sector, and the computer sector, which is expected to be catalyzed by industrial policies, are likely to be boosted.
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