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SWS RESEARCH CO., LTD has been devoting to independent and objective securities investment research products, and professional and honest investment advisory services to our institutional investors. Our extensive coverage, promptly-reaching and tailor-made research products and advisory opinions will meet all the needs of various institutional investors.
Our research products cover extensive areas such as micro-economy research, sector research, company research, market investment strategy and financial innovation products, etc. We focus on studies of all China exchange-traded securities like A-shares, B-shares, funds, bonds, etc. We can provide a variety of ways of services, including providing research reports, arranging all kinds of meetings like one-on-one meetings, conference calls related to market investment. We can also provide tailor-made research products to satisfy the needs of our institutional investors.
We provide the following research products:
 Strategy Research |
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Second-class Category |
Explanations |
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Strategy Research
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Overseas Market Investment |
We conduct record track and studies on the historical condition and current changes of some important overseas markets and their impacts on China domestic market. We provide analysis reports every week and irregular special reports in addition.
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| Subscription Strategy |
By way of estimates of subscription capital and forecasts on reasonable pricing on its first trading day, we provide prompt and effective analysis reports on new share's subscription strategy. New share subscription includes IPO and secondary placement subscription. Subscription strategy analysis involves different ways of new share issuance and their influence on subscription capital return rate, investors' counter-measures on subscribing different new shares simultaneously, and methods of improving lucky-draw rate and return rate with limited subscription capital.
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| Investment Strategy |
Through studies on micro-economy, policy orientation and general trend of market movement, we promptly provide relevant investment strategy proposals for different institutional investors in order to catch market opportunities and gain maximum investment returns. The products include three aspects of contents: monthly comprehensive investment strategy, monthly bond investment strategy and monthly fund investment strategy report. We offer these products regularly. If special events occur in the market, we will promptly offer our special reports or revised reports. We also have strategic investment reports every six months and every year.
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| Investment Portfolio |
By analyzing listed companies' fundamentals, linked with short- and medium-term market central issues, we timely offer our suggestions on priority stocks that should be followed with in the next month. These stocks are classified into three types: stocks with investment value, stocks with high growth and stocks with hot issues, which are totally selected form SWS' stock pool. The products include monthly standard investment portfolio of stocks and strategic investment portfolio reports every six-months and every year.
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| Company Research |
| First-class Category |
Second-class Category |
Explanations |
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Company Research
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Short Comments |
Based on fundamental analysis, we promptly give short comments on various sudden events or public information that might affect the company's stock price, and forecast the company's future development trend, and provide our definite stock investment recommendations. The reports emphasize on a timely reaction on media news and other public information. The products are classified into two types: immediate report, which analyzes the important affects some information on the company performance or share price, and the other is short comments on company's financial status (annual report).
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| Investigation Report |
Based on on-the-spot investigation, we promptly offer various important information which may possibly influence investors' investment decision-making, and combine relevant information to make a full analysis, and predict listed company's future earnings level, and finally give our investment ratings. Investigation reports use timely and accurate information in order to explain investment opportunity and risk of related listed companies at the first time.
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| In-depth Analysis |
Based on fundamental analysis, we explain the company's current situation and development trend by making comprehensive analysis of a listed company, including industry environment, management capability, resources condition, previous performance and financial conditions. We predict the company's future earnings level, asset and liability conditions, and cash flow by way of strict proof finding and logic conclusion. With considering its market price and making use of reasonable valuation methods, we give our investment ratings. In-depth reports, usually including the appraisal of a company management staff, development strategy, and financial analysis, is ranked the top quality reports among company reports.
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| New Share Pricing |
Based on new share issuing information, we mainly analyze a listed company's industry background, past performance, financial conditions and fund raising purpose, and judge the company's future development trend. By comparing with other peers and linking with operations condition of secondary market, we make a rational pricing for a newly listed stock, and help investors to choose investment strategy on new stocks.
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| Forecast Rating |
By studying company's industry background, resources condition, operation capability, new investment projects, etc, and linking with our investigation results, we predict a company's earnings level within a certain period. We focus on more than 300 listed companies among all listed companies, which enjoy a leading position in the industry, track their records over the long run, and give our ratings. We provide future two to three years earnings forecasts and investment ratings. We review our earnings forecast and investment ratings every week according to our latest research.
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| Comprehensive Analysis |
Based on public data of securities market and present database system of SWS Research & Consulting Co. Ltd, we irregularly release comprehensive analysis reports on relevant industry central issues, listed company earning forecasts, listed companies' information disclosure, etc. When state regulatory policy, industry policy and securities law is issued or revised, we will fully analyze the affects of these policies and regulations on securities market, and help investors hold listed companies' integrated development trend and market investment opportunity.
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| Stock market |
| First-class Category |
Second-class Category |
Explanations |
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Stock market
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General Trend Analysis |
By analyzing features of secondary market movement, and combining macro and micro condition analysis of the market, we predict the short and medium term development trend in future, and definitely give our investment strategy proposals. The product emphasizes its promptness and actual operation approaches, and represents our basic view toward secondary market.. It is an important reference for institutional investors to grasp the general trend of the market, cope with sudden events, and guide actual operations. The product includes two types of periodical reports: "Daily Analysis on General market Trend" and "Monthly Analysis on Market General Trend". In addition, when a sudden change of the market occurs, we also have two types of irregular reports: "Market Express" and "Special Report" for reference.
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| Overseas Market |
In light of fundamental analysis, technical analysis and data analysis, the reports reflect B-share market and an individual listed B-share market, predict its future change and included investment opportunity, and offer suggestions for decision-
making for B-share investors. The product includes a regular "Table on B-share Price Vs A-share Price", "B-share Market Analysis Report", and "B-share Listed Company Research Report".
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| Market Environment |
Concentrating on the following basic factors which impact stock market development: market policy, financial control and adjustment, macro-economy, industry change and international political and economic situation, we provide an overall evaluation of stock market development environment, and make a regular update and revision. It is an important reference for institutional investors to judge the general trend of the market and grasp market opportunities. Meanwhile as a comprehensive analysis report, it is helpful for investors to have a full understanding of market change in time. The products include a "Monthly Comprehensive Analysis Report of Stock Market Development", "Analysis Report on Market policy and Major Problem, and "A List of Major Events on Securities Market" which is updated every month.
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| Market Focus |
Focusing on hot issues of secondary market mainly including the policy, sector, share price, we make a full and deep analysis and definitely provide our view and attitude toward their possible impact on secondary market and included investment opportunity. They include regular reports like "Market Focus", "Monthly Major Stock Picks" and irregular report of "Stock-Pick Change Report".
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| Capital Trend |
By using sampling method, margin deposit data and trading data coming from SWS's branch offices, we dynamically follow the tracks of capital volume at Shanghai and Shenzhen markets, estimate capital condition and its changes in primary market and secondary market. When the relative policies which influence market capital flow are released, we promptly analyze and disclose their impact on market capital and help to judge the general trend of the market.
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| Economics Research |
| First-class Category |
Second-class Category |
Explanations |
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Economics Research
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Industrial Economics |
With using "top down", "bottom up", "input-output" and "factor" analysis methods, we grasp the inherent law of various industry changes in China's economic operations, provide supporting data of fundamentals for investors to discover cyclical, medium-long-term industry leading companies and investment opportunity. The product includes an in-depth analysis on industry operation, which is updated every quarter, irregular industry hot stocks analysis reports and industry special research reports.
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| China Economics |
By way of dynamically following the tracks of China's economic operation and a large number of data, we comprehensively use various qualitative analysis and quantitative analysis instruments, forecast future development trend of macro-economy and micro- economic policies, and provide reference for decision-making . The product includes a "Monthly In-depth Analysis Report on Economics and CPI" which is updated every month, and "Special Report on Economic Hot Issue".
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| Financial Market |
We fully analyze the change of development trend of financial markets including money market, capital market, foreign exchange market, etc., give research and judgment on monetary policies, capital flow among various financial markets, change of interest rate & foreign exchange rate, and major reform of financial system, which is important references for investors to master market capital changes, various securities investment returns, and the whole development trend of financial system. It has a "Monthly Comprehensive Analysis Report on China's Financial Market", irregular "Analysis Report on Domestic Financial Policy, China's Financial System Reform Focus".
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| Economics |
Based on a large number of data and research by international institutions, we timely follow the tracks of dynamic changes of global economy and market, analyze and predict their possible impact on China's economy and capital market. The global economics research will facilitate investors to have a good judgment on development trend of China's economy from a wider and higher angle of view. It includes a "Quarterly Comprehensive Analysis Report on Global Economics ", irregular "Report on Global Hot Issue" and "Special Report".
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| Forum Information |
| First-class Category |
Second-class Category |
Explanations |
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Forum Information
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Internal Meeting |
It includes meeting minutes of various panel discussion and meetings related to securities investment and consultation, which provides investors for reference. We don't guarantee the confidentiality and accuracy of data and information. Views and conclusions come from individual opinions, and don't represent SWS Research Co. Ltd All meeting minutes are recorded but not confirmed by speakers.
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| External Meeting |
It compiles various meeting materials related to securities investment, from which we sponsor or we attend, offering investors for reference.
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| Fund Market |
| First-class Category |
Second-class Category |
Explanations |
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Fund Market
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Fund Strategy |
We make an overall analysis of fund market changes and various factors affecting fund market, and provide our proposals for investors to operate every month. If sudden events occur, we will provide temporary special reports. We also offer a fund market investment strategy every six months or every year.
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| Fund Review Weekly |
We provide weekly short comments on fund market trend on each Friday, including NAV and market price change of each fund within this week, change of discount rate and possible change next week, etc.
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| Performance Appraisal |
Through vertical analysis of fund historical data, horizontal comparison among funds of similar type, and analysis of investment style of fund managers and management skills, we set up a comprehensive appraisal system of fund performance with comparison from various angles, and try to provide an objective, fair fund appraisal system and performance comparison for investors. We have a performance appraisal report every six months and also have a full-year consecutive track record appraisal report.
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| Financial Engineering |
| First-class Category |
Second-class Category |
Explanations |
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Financial Engineering
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Product Innovation |
Innovation is a perpetual topic of market. This product keeps pace with domestic capital market development, timely puts forward project plans for innovation such as new business model, new trading products and new trading mechanism. We continuously follow market innovation trend and relative business development opportunity, deeply study product innovation's impact on market and related investment strategy, and timely provide help for investors to grasp innovation trend and find solutions.
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| Analytical Instrument |
We provide self-developed analytical instrument and instruction, which relates to market information, investment points, index analysis, bond analysis, fund analysis and investment strategy based on the public data and current data base of our company. We will also use these instruments to watch the market.
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| Market Statistics |
We publish quantified statistical forecasting report related to securities market, listed company performance, listed company information disclosure by using quantitative analyzing method. It aims to be timely, reliable and helpful.
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| Index Research |
We provide investment information through index publishing based on the well-performed indices analysis and their availability in China's market. Meanwhile, we also publish SWS indices, statistic table and report in order to provide dynamic information of market though index design and using.
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| Sector Report |
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Second-class Category |
Explanations |
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Sector Report
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In-depth Research |
By using sector competitive element and other analytical instruments based on the data provided by National Statistic Bureau and other authorities, we take in-depth research on individual sectors. Sector reports are profound and widely related, which cover the information including sector supply, demand, price shift, major policy involvement, profitability and leading enterprises, hence, show the underlying value and potential risk. It also provides ratings and comments on listed companies, available for reference on investment.
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| Sector Comparison |
By using "top down" analysis, factor model and other analytical instruments to explore the investment chances, we mainly rely on company's major business, future outlook and market price to conduct industry and sector comparison, which formulate the proper investment asset allocation. It is a well-updated sector report and includes monthly report, annual report and mid-year report.
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| Sector Comments |
Referring to change of factors affecting different industry (e.g. sector policy, updated data and market movement, etc.), we provide timely comments and take both quarterly review and future perspective on updated data, business running and investment value of listed companies.
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| Dynamic Research |
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Second-class Category |
Explanations |
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Dynamic Research
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Morning Meeting |
Minutes It discloses daily research reports and provide daily investment suggestions.
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| Monthly Research Report |
We forecast hot issues of next month and publish future meeting schedules.
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| Weekly Research Report |
We collect weekly reports and provide searching information.
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| Securities Research |
Starting from Jan 1996, it is a well-known professional financial magazine and it mainly focuses on financial theory and practical problems in securities market. One issue every two months.
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| Monthly Report |
It is monthly published including the research report by our analysts coupled with those from regional analysts. There are 11 issues per year and research area covers macroeconomics and listed companies research.
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| Bond Market |
| First-class Category |
Second-class Category |
Explanations |
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Bond Market
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New Bond Pricing |
It focuses on interest rate determination analysis for new bond (e.g. T-bond, financial bond and corporate bond) pricing and also the analysis of future performance.
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| Bond Investment Strategy |
We analyze the potential factors which would affect bond markets and give investment suggestion for next month. We also take timely and in-depth analysis of temporary events. It includes monthly bond investment strategy and hot topics of the bond market.
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| Bond Market Weekly Review |
We give comments on the change of yield curves of individual bond and do the brief forecast on next week's market. Published on every Friday.
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| Convertible Bond Analysis |
We give analysis and forecast on convertible market including hot topics report, temporary events analysis, CB valuation, CB pricing and suggestion on specific CB. It includes CB market weekly review, half year or annual strategy report.
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| Special Report |
| First-class Category |
Second-class Category |
Explanations |
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Special Report
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Hot Topics |
We give research on current hot issues in securities market and their impact on investment strategy.
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We provide the following tailor-made advisory services:
| 1. Annual Investment Strategy Forum |
It is held either at the beginning of each year or the end of the year. Analysts of each sector will do the report and forecast on topics including macroeconomic condition of next year, policy at securities markets, stock market environment and hot issues of sectors, investment strategy advises and other topics related to institutional investment strategy. The forum gathers all professional opinions from all our analysts.
From the expectation of internet stock booming in 1999 to the forecast on E-business sector stocks in 2000, from the recovery of traditional industry, to Huangpu-River-concept related stocks in 2002 and the re-focus on value investment idea in 2003, SWS RESEARCH CO., LTD has dedicated itself to guiding the market and providing professional services to institutional investors. |
| 2. Mid-Year Investment Strategy Conference |
| It is held in the middle of the year, which offers forecast and analysis on market and sectors for the next half year based on data provided in the previous half year. |
| 3. Seminars |
| They are irregularly held with diversified topics, which include meetings between investors and listed companies, fund company and insurance company. We will issue updated research products from domestic sector experts and our analysts on the topics of macroeconomics, sectors or market. |
| 4. Panel Discussions |
| Discussions are held irregularly upon clients' requirements and based on changing market environment.. |
| 5. Conference calls |
| It is held irregularly., which is between analysts and institutional investors. There are abundant information sources with different opinions from various analysts and institutional investors. |
| 6. Tailor-made products. |
| We provide tailor-made research products upon clients' requirement. |
| 7. Account Manager Service for Special Clients. |
| Our account manager provides one-on-one consulting service. |
| 8. "A Green Channel" for Advisory Services |
| Our sector analysts are available by E-Mails, phone calls, company visits, etc, to communicate in time with clients on the topics of the market, policy, macroeconomics, industry, company, strategy etc. |
How Do You Access to Our Services?
| Two ways are available if you want to access to our research reports and services: |
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(1) Please contact our Consulting Service Department. We will provide you user name and initial password for overseas investors to access our website www.swsresearch.com once we have your information and assign client manager to give out introduction of our services.
Contact person: Miss. Zhu Fang, Consulting Service Department
SWS RESEARCH CO., LTD
Tel: 0086 21 23297818-7233
Add: 3/F., 99 East Nanjing Road, Shanghai (Postal Code: 200002)
Fax: 0086 21 23297645,23297827
E-mail: zixun@swsresearch.com
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(2) Select SWS RESEARCH CO., LTD as a local broker for your QFII business in China. Our QFII clients can get our research products every day.
Contact person: Kathy Kaiyuan Xu, International Business Division
Shenyin & Wanguo Securities Co. Ltd
Tel: 0086 21 54038867
Add: 2/F., 171 Changshu Road, Shanghai (Postal Code; 200031)
Fax: 0086 21 54047508
Email: xuky@sywg.com.cn |
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