The same is true of investment.
If you want to get a good return on investment in the A-share market, it is very necessary to collect and analyze information.
Generally speaking, the public information of listed companies can be divided into the following categories: 1, prospectus; 2. Periodic reports (semi-annual, quarterly and annual); 3. Irregular reports (major events, business data); 4. Financial news reports; 5, brokerage research report.
Below, the author will tell you how to obtain these reports and how to interpret the basic information.
How to analyze and study a listed company from scratch?
The best way is to read the company's prospectus.
The prospectus contains a wealth of information, including the course of establishment, main business, financial status, use, management, technical advantages and risks faced by the enterprise after listing.
The method of obtaining the prospectus is simple. As long as you log in to official website of Shanghai and Shenzhen Stock Exchanges, you can get the original information of the prospectus. At the same time, major financial websites such as Oriental Fortune Network, Panorama Network, Snowball and Tiger Securities also have special columns of prospectus.
Shanghai and Shenzhen Stock Exchanges and Oriental Fortune Network have convenient access to information. The specific websites are as follows:
Shanghai Stock Exchange:/disclosure/Listedinfo/listing/
Shenzhen Stock Exchange:/disclosure/listened/notice/index.html.
Oriental Fortune Network: /xg/xg/default.html
In addition to reading the company's financial situation, investors can understand most of the contents of the prospectus.
After reading the prospectus, the next step is to read the company's quarterly, semi-annual and annual reports to dynamically understand the operating conditions of listed companies.
Regular reports can also be found in Shanghai and Shenzhen Stock Exchanges, Oriental Fortune Network, Panorama Network, Snowball and major trading software.
It is worth reminding readers that before the periodic report comes out, there is usually a performance forecast or performance express. Many times, the profit changes in regular reports are easily digested by the market in advance, and the stock price will not react until the regular reports are officially released.
For children readers, it is often seen that the author regularly handles many articles about the profit performance of listed companies. This is because no matter how complicated the data is, the ultimate goal of the company is profit, and how much profit it can bring to shareholders is the key.
In addition to prospectus and periodic reports, irregular reports are also an important way for investors to understand listed companies.
There are three main types of irregular reports: 1, private placement; 2. Shareholders increase or decrease their holdings; 3. Important contracts.
Private placement is often considered by investors as money-circling, but it is understandable for enterprises to circle money reasonably and produce greater benefits. Therefore, there is no need to generalize and treat all the fixed increases as bad things.
Shareholders' increase or decrease in holdings is generally considered as a voting behavior of shareholders' views on stock prices. However, whether it is a controlling shareholder, a major shareholder or a common shareholder, everyone's financial situation and the purpose of reducing their holdings may be different, and the judgment of the stock price level may not be accurate. Take Tencent as an example. After Ma reduced his holdings several times, the company's share price continued to rise. Therefore, we cannot simply regard shareholder reduction as bad news. Of course, if the share prices of some companies increase too much in the short term, the controlling shareholders or major shareholders will reduce their holdings, which is a signal worthy of attention.
The news of listed companies is an important part in the field of financial news. Often important news of listed companies will lead to stock price fluctuations, especially negative news.
For enterprises, in most cases, the operation of the company will not change much. But once something big happens, with the news media exposure, the company's share price often fluctuates greatly.
It should be noted that due to the process of news reporting, the news reports of listed companies often have a certain lag, and many times when the official reports are released, the stock prices have changed.
Therefore, investors and friends should pay attention to reading financial news and make scientific and reasonable judgments. Don't be led by too much news and make unnecessary judgments.
It is recommended to read professional and authoritative financial media reports, such as 2 1 Century Business Report, Four Securities Newspapers, Caixin, Cai Yi and National Business Daily.
There are many domestic brokerage research institutions, but not many can really provide quality services for investors.
The main reason is that the interests of brokerage research institutions are inseparable from the interests of fund companies and listed companies. Therefore, research reports are preconceived, and few reports suggest risks. In this way, objectivity will be worse. Although there is no major problem professionally.
What investors need to pay attention to is that the most valuable research report of listed companies' brokers is about the industry.
There is no direct interest appeal in the industry report. In this case, the authenticity of relevant information will be better guaranteed.
No pains, no gains.
Farming or investing requires a lot of time and energy.
Everyone needs hard work and a waiting process, which will not happen overnight.
On the surface, stock investment seems to be a simple matter. Just open a stock account and buy at a low price and sell at a high price every day.
But it's not that simple.
In this investment game, whether it is listed companies, industries or macro, it is beyond our control as investors in the secondary market. The only variable we can grasp is ourselves.
I hope this article can help readers invest a little. If you have any questions or want to know, you can leave me a message in the comments area and try to answer them within your personal ability!