看到有个v说 在我眼里，a股千亿市值以上公司，仅剩一个优秀且极端的低估。也就不在意他未 来一年，可能部分业务未来一年可能出现略有下滑，大概公司整体还是增长的。常 年经营现金流大于净利润+折旧摊销的，常年ROE大于20%，以及本年接近100% 的股东回报，账上几千亿现金，公司治理优秀。。无一不让人流口水。很久没说那 一句，涨跌随意 这v我也不知道准不准，但是很好奇 我就查了一下 千亿以上公司有173家 再要求ROE大于20，就只剩下34家 然后按照股利支付率排序 | ○查找 | | | | | | | ▼ 点击查看4列数据洞察结果 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 证券名称 | > | 总市值 | [交易日期]2025-11 ... | 净资产收益率ROE [报告期]去年年报 | 年度股利支付率 年度 2024 | 货币资金 [报告期]去年年报 | | 序号 | 证券代码 | | | 单位亿元 | | [单位]% [单位]% | | [报告类型]合并报表 | | | | | | | | | | [单位]亿元 | | ...

Group 1 - The article discusses the complementary nature of free cash flow and low-volatility dividend strategies, suggesting a 1:1 allocation between the two for a balanced investment approach [1] - It highlights the potential for a "lazy" investment strategy by regularly rebalancing a portfolio consisting of ETFs focused on free cash flow and low-volatility dividends, along with the Nasdaq index [1] - The article mentions the importance of cash flow generation from investments, emphasizing that a combination of free cash flow and low-volatility dividends can provide a steady income stream [7] Group 2 - There is a debate on the effectiveness of rebalancing strategies, with some arguing that they may expose investors to extreme risks, as illustrated by a hypothetical scenario involving the Soviet Union's market [6][8] - The article suggests that a simple allocation strategy without frequent rebalancing may be more beneficial, allowing investors to avoid potential pitfalls associated with market volatility [6] - It also raises concerns about the complexity introduced by adding more asset classes, which could dilute the cash flow benefits of a simpler investment strategy [7][10]

Group 1 - The article emphasizes the importance of subscribing to LOF (Listed Open-Ended Fund) as a daily priority for investors, highlighting the need for thorough checks on fund codes, names, and amounts before submission [1] - It compares the subscription process to safety protocols in the aviation industry, underscoring the necessity of ensuring all steps are completed correctly [1] - Several companies are mentioned regarding shareholding changes, including Sait New Materials and Zhuhai Guanyu, both planning to reduce their holdings by up to 3% [1] Group 2 - The article lists various convertible bonds, including the 瑞达转债 (Ruida Convertible Bond) which is subject to strong redemption, and 美诺转债 (Meinuo Convertible Bond) and 科顺转债 (Keshun Convertible Bond) which will not undergo adjustments [3][5] - Specific details about the current prices, redemption prices, last trading dates, and conversion values of several convertible bonds are provided, indicating their market status and potential investment opportunities [5][7] - The article also notes the trading status of new stocks on the Beijing Stock Exchange, such as 江天科技 (Jiangtian Technology), and mentions market closures for Hong Kong and US stocks [1]

雪球上有个帖子，英伟达在股市里一共融资多少？ 英伟达通过股市的直接融资（IPO + Post-IPO轮次）约为5,800万美元（IPO）+ 2.25亿美元（Post-IPO）= 3.03亿美元（约 3.03亿 USD）。其中，5800万美元是1999年IPO募集的，2020年8月，通过PIPE（私募股 权投资）募集约2.2亿美元。 英伟达募集了20多亿人民币，就干成这样的企业（当然，也有 很多公司拿了钱干砸了）。看看A股这些公司， 德勤预计，截至2025年12月31日，A股市场 将有114家公司上市，合计融资1296亿元，相对2024年100家公司上市融资668亿元。 资水 IPO的超募和IPO后的爆拉，是一个深刻到A股本质的问题，是制度的精心设计的结果。 先看一个背景。中国一级市场基金14万亿元，二级市场基金10万亿元，一级居然比二级规模 还大！(美国一级:二级 = 6万亿:20万亿美元）。 一级市场这14万亿，主要是ZF基金、信托资 金、高净值人群资金。我们说的"中国的既得利益者"在哪里？就是在这14万亿一级市场资金 里。 一级市场资金的退出是要在二级市场才能实现的，平均是7倍溢价，即一级市场1个亿在二级 ...

Group 1 - The article discusses the recent performance of the stock market, highlighting a friend's experience with investing in LOF (Listed Open-Ended Fund) and the unexpected continued rise in stock prices despite warnings of potential risks [1] - The author expresses surprise at the market's resilience, noting that despite repeated advice to sell, the stocks continued to rise, leading to a sense of confusion among investors [1] Group 2 - The article includes announcements regarding various convertible bonds, such as the 百畅转债 (Bai Chang Convertible Bond) which will not undergo adjustments and has a final trading date of December 26, 2025 [3][5] - It provides detailed information on several convertible bonds, including their current prices, redemption prices, final trading dates, and conversion values, indicating the financial metrics relevant to investors [7][9]

Core Viewpoint - The article discusses the valuation challenges faced by various industries in the A-share market, highlighting that despite global competitiveness, many sectors are undervalued due to market dynamics and investor behavior [1][10]. Group 1: Industry Valuations - Home Appliances: Midea (13x), Haier (12.3x), Hisense (12.73x) [1] - Engineering Machinery: Sany (23.6x), XCMG (20x), Zoomlion (17x) [2] - Forklifts: Hangcha (16x), Heli (14x) [2] - Tires: Zhongce (12x), Sailun (16x), Senqilin (14x) [2] - Heavy Trucks: China National Heavy Duty Truck (12x) [2] Group 2: Market Dynamics - The industries mentioned are characterized by low-frequency consumption and strong cyclicality, leading to fluctuating performance and valuations based on government subsidies and market conditions [1][2]. - The article suggests that a P/E ratio around 15x is reasonable for stable growth industries, providing a risk premium over ten-year government bonds [1][2]. Group 3: Investment Behavior - Institutional investors hold significant pricing power in these markets, making it challenging for individual investors to influence valuations [1][2]. - The article emphasizes that high expectations can lead to investment disasters, and that long-term returns may be better for established companies despite their low valuations [3][10]. Group 4: Valuation as an Incentive Mechanism - Valuation is described as an incentive mechanism that reflects market competition and societal evolution, where higher valuations encourage innovation and investment in growth sectors like technology [4][5][6]. - Conversely, traditional industries with stable earnings often receive lower valuations due to a lack of societal encouragement for new investments [7][10]. Group 5: Global Comparisons - The article notes that mature manufacturing companies globally, such as Toyota and Caterpillar, also exhibit low valuation multiples, indicating a broader trend beyond the A-share market [14][15][16].

Core Viewpoint - The article discusses various convertible bonds, highlighting their types, redemption statuses, and key dates for subscription and trading [1][2]. Group 1: Convertible Bonds Overview - Kai Sheng Convertible Bond and Jin Zhong Convertible Bond are categorized as "strong redemption" with a redemption date set for December 23, 2025 [2]. - Hui Yun Convertible Bond will not undergo a downward adjustment, maintaining its current terms [1][2]. - Jin 05 Convertible Bond is scheduled for subscription on December 25, 2025 [1]. Group 2: Convertible Bonds Details - The current price of Neng Hui Convertible Bond is 113.346, with a redemption price of 100.730, and it has a remaining scale of 0.023 billion [4]. - Z Xin Hua Convertible Bond is priced at 127.178, with a redemption price of 100.115, and a remaining scale of 0.187 billion [4]. - Z Min Convertible Bond has a current price of 197.898, a redemption price of 101.220, and a remaining scale of 0.552 billion [4]. - Ying Bo Convertible Bond is priced at 140.555, with a redemption price of 100.100, and a remaining scale of 2.179 billion [4]. - Kai Sheng Convertible Bond has a current price of 140.451, a redemption price of 100.100, and a remaining scale of 5.459 billion [4]. - Jin Zhong Convertible Bond is priced at 130.300, with a redemption price of 100.200, and a remaining scale of 2.494 billion [4].

Group 1 - Aikodi's shareholders plan to reduce their holdings by no more than 3% of the company's shares [1] - Hangxin Technology received a warning letter from the Guangdong Securities Regulatory Bureau for failing to timely disclose new borrowing matters [1] - Tianchuang Fashion is planning a change of control, resulting in a stock suspension [1] Group 2 - Blue Sky Gas's controlling shareholder, Blue Sky Group, has nearly all of its shares pledged and frozen, with an additional 37.1843 million shares newly pledged [1] - As of December 18, 2025, Blue Sky Group and its actual controller, Li Xinhua, have most of their shares pledged and frozen, with a total of 215 million shares under pending freezing and 6.5561 million shares judicially marked [1] Group 3 - Several convertible bonds are undergoing strong redemption, including the Bo23 Convertible Bond and the Furong Convertible Bond [1] - Other convertible bonds, such as the Lege Convertible Bond and the Shenghong Convertible Bond, will not undergo adjustments [1] Group 4 - The current prices and redemption prices of various convertible bonds are listed, with specific details on their last trading dates and conversion values [4][6]

Group 1 - The overall sentiment among investors indicates mixed results for the year, with some reporting returns close to the starting value of their investments [1] - High dividend and low debt stocks are perceived as a safer investment strategy, with a reported success rate of 99% based on historical performance [2] - The current year is described as one of the best in recent years, attributed to a bull market [3] Group 2 - Some investors have experienced significant gains, with reports of a 100% increase in certain ETFs, although this was not anticipated at the beginning of the year [4] - A suggestion is made for those who have not made profits this year to consider investing in large, mid, and small-cap index ETFs after a market downturn [5] - There are reports of substantial losses for some investors, with estimates of losses ranging from 5% to 10% for the year [8] Group 3 - A notable investment strategy includes holding high-yield stocks, with one investor reporting a 7.5% profit from a 68% allocation in such stocks [13] - Some investors have faced challenges with specific stocks, such as Meituan and Baidu, leading to a reluctance to monitor their returns [12]

价值投资是万万不可行的 https://www.jisilu.cn/question/516043 集思录(www.jisilu.cn)是一个以数据为本的投资理财社区，专注于新股、可转债、债券、封闭 基金等数据服务。我们的理念是在保证本金安全的前提下，使资产获得稳健增长。 快捷查询： 搜索公众号"jisilu8"添加我们 今年收益100%，今年大家收益怎么样？ https://www.jisilu.cn/question/516015 关注集思录微信 特别提示 本文不构成任何投资建议，仅为信息分享。任何因本文导致的投资行为发生的亏损，本公众 号及作者概不承担任何责任。 成都天府新区房价下跌40% https://www.jisilu.cn/question/516038 国投白银LOF还能发多久奶茶？ https://www.jisilu.cn/question/516058 ...