A dry goods, suggested collection!
Overnight the United States stocks came to A big V reversal, but A shares, even A sheep treading, panic in the aggravation.There are generally three kinds of income in investment. One is the income from the growth of the company.One is to earn liquidity under the index market earnings;Another is the extreme volatility pit return on panic, which is a variety of fluctuations in valuation.From the historical law of the market and individual stocks, index quotation is short, it is difficult to encounter.Company growth is more test research and holding patience.The way most investments make money is through volatile returns on valuations, especially when the fear is aligned with an exponential correction.So there is panic and surprise, and a backlash may be imminent….With the annual report notice of intensive disclosure, some companies began A share unique thunder way, this is goodwill thunder.January 19, Saturday released the 2021 annual performance forecast said that 2021 is expected to return a net profit loss of 430 million yuan to 645 million yuan, mainly due to the estimated provision of goodwill impairment of two fashion new media companies 180 million yuan to 270 million yuan.On the evening of January 21, Kede education disclosed 2021 annual results forecast, expected net profit loss of 380 million yuan to 480 million yuan, mainly because of the provision of goodwill impairment provisions of about 420 million yuan to 520 million yuan.On the evening of January 21, CICC Environment disclosed that it is expected to lose 650 million yuan to 850 million yuan in 2021, mainly due to the estimated provision of goodwill impairment amount of 470 million yuan to 520 million yuan in 2021.In addition, the company is expected to deduct intangible assets and fixed assets impairment loss between 450 million – 500 million yuan….For the goodwill impairment of these companies, the exchange also issued a letter of concern. For example, in the letter of concern issued by shenzhen Stock Exchange on January 23, Kede Education was required to explain the specific time when Longmen Education’s goodwill impairment signs appeared and whether the goodwill impairment provisions of Longmen Education’s goodwill in previous years were sufficient.Goodwill thunder, is A common thing in A shares, then we come to know.What is goodwill?Goodwill is an integral part of the overall value of an enterprise. In the process of enterprise acquisition and merger, it is the difference between the investment cost of the purchasing enterprise and the fair value of the net assets of the acquired enterprise.The value of a company’s goodwill depends on whether it can generate profits for the acquirer in the future or whether it can be sold in the future at a higher price than the current acquisition price and if so, it has goodwill value;If not, there is no goodwill value.It is emphasized here that the generation of goodwill must be in the process of enterprise merger and acquisition.What is goodwill impairment and goodwill thunder?Here are some of the lessons to share with you.As long as the goodwill generated by mergers and acquisitions of enterprises will eventually be impaired, but it is only a matter of time, some may be 5 years, some may be 10 years, and the listed company has the final say when the impairment and how much the impairment is each year, which is very magical thing!The most typical is the “financial bath”. When many companies lose money in the current year, they will deduct almost all the goodwill from the impairment of the current year, which will lead to a huge loss in the company’s performance this year.Why does the company do this?First, while the performance is not good a loss, the back of the good light.Second, the company may anticipate that the performance will be poor in the future, so it will be withdrawn in one year to avoid the delisting risk caused by the performance decline caused by phased withdrawal.Therefore, when you choose a company, you should take a look at the subject of company goodwill to see whether it is high, how it comes from, and whether there is any risk.Another is for high goodwill of the company, try not to hold in the annual report and half annual report disclosure period, reduce the risk of thunder.Flying Whale Investment Research long-term tracking feature list: “Growth 50” : summary of hot industries with growth potential stocks;Pharmaceutical 20: The most certain stock in the pharmaceutical industry;Consumer 20: The biggest stocks to watch in the big consumer sector.More exciting, please continue to pay attention to flying whale research.Flying whale investment research: smart investors are paying attention!