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中国经济增长放缓,上游原材料价格回落。社会利润分布格局正在发生变化,未来投资机会的把握,我们强调适当减少对粗线条行业的关注,转而看重细分行业的选择,在细分行业中寻找龙头公司,也就是我们所谓的寻找“小池中的大鱼”。我们按照“小池大鱼”的标准筛选出22家上市公司,并以此编制“小池大鱼”的指数。在2004/5-2005/9月期间, “小池大鱼”指数的表现远远超过上证指数,上证180、沪深300指数,相对涨幅超过50%以上。据证券投资机构对中国上市公司的盈利预测、未来三年的增长率,细分行业的龙头公司的整体净利润增长速度将超过沪深股市、上证180、沪深300的整体增长水平。
China’s economic growth slowed down and prices of raw materials in the upstream dropped. Social profit distribution pattern is changing, the future investment opportunities, we emphasize the appropriate reduction of attention to the thick line industry, turn to pay attention to the choice of industry segments, in the sub-sector to find leading companies, which is what we call the search for “Koike In the big fish. ” We follow the “Koike big fish” screening of 22 listed companies, and in accordance with the preparation of “Koike big fish” index. During the period of 2004 / 5-2005 / September, the performance of “Koike Big Fish” index far exceeded that of the SSE Composite Index, the SSE 180 and the CSI 300 Index, with a relative increase of more than 50%. According to the securities investment institutions’ earnings forecasts for Chinese listed companies, the growth rate over the next three years and the overall net profit growth of the leading companies in the sub-sectors will exceed the overall growth of the Shanghai and Shenzhen stock markets, the SSE 180 and the CSI 300.