From the perspective of the price-to-book (P/B) ratio of the CSI 300 sector, there are 11 stocks with a P/B ratio of less than 1 times. Among them, Ansteel's P/B ratio is only 0.65 times. As of the third quarter report last year, its net asset value per share was 7.35 yuan, and the closing price yesterday was 4.79 yuan. In addition, the P/B ratios of Magang, Changhong, China Railway, Baosteel, Wuhan Iron & Steel, China Railway Construction, Nanshan Aluminum, China Merchants Development, Guangshen Railway, and Taiyuan Iron & Steel are also less than 1 times, making them part of the broken-net list. Moreover, there are 93 individual stocks with a P/B ratio of less than 2 times.
From the perspective of the dynamic price-earnings (P/E) ratio, the P/E ratio of Bank of Communications is 5.88 times, Minsheng Bank is 6 times, Industrial Bank is 6.06 times, China Eastern Airlines and Beijing Bank are 6.08 and 6.1 times respectively. There are also 38 stocks with a P/E ratio of less than 10 times.
The valuation of A+H shares is also a standard for measuring large-cap blue-chip stocks in the market. From yesterday's closing price, the H-share closing prices of 20 stocks were higher than their A-shares. Among them, Ping An Insurance's H-share closed at HK$65, while its A-share closed at RMB 39.68, showing a 33% premium for the H-share over the A-share. Additionally, the H-shares of Conch Cement and CITIC Securities both have premiums over 25% compared to their A-shares. The H-shares of China Railway Construction, ZTE Corporation, Minsheng Bank, and China Merchants Bank are 10%~20% more expensive than their A-shares.