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The industry analysis is another important aspect of fundamental analysis, it is a bridge to connect the macro-economic analysis and the analysis of listed companies. The main tasks include: industry analysis to explain the industry's stage of development and its position in the national economy, the analysis of the various factors affecting the development of the industry as well as to determine its impact on the industry's efforts to predict and guide the future development trends of the industry to determine industry investment value, revealing the risk of industry investment, so as to provide investors with a basis for decision making or investment basis. The Rise and Fall of the industry beckons to the industry changes in the status of the entire economic system. In general, each industry will experience a naive ofGrowth, maturity and sunset of the process, this is also the new technologies, applications, promotion, transfer and backward process. Therefore, the investment industry at different stages, the benefits and risks is not the same. For example, for the traditional industries, especially in the consumer industry is relatively mature technology and management, if the earnings are relatively stable, then the risk is relatively small; invest in an emerging industry, because of his technology, facilities, downstream industry and so on are not yet mature, or the investment cycle class of the industry and his earnings more volatile, so these higher risk; new industry into the growth stage.Are often able to obtain an explosive earnings growth, so his investment income is relatively high. The company's analysis is the last level of fundamental analysis, but also the actual investment activities, for investors, the most important one. Because both the macroeconomic analysis to determine the investment environment, or choose the area of ​​investment in view of industry analysts, specific investments than the market index investment choice, and ultimately will be settled in the micro-level of listed companies. Should be said that the company's analysis of the most important is the analysis of company's financial position.Financial statements is generally considered to be a tool to obtain information on the companies concerned. Under the premise of information disclosure norms have been published financial statements are important information to the investment value of listed companies forecast and securities pricing? In the financial information published by listed companies, the most important balance sheet, income statement and cash flow statement. Among them, the balance sheet as described in the status of a particular point in time, the company's assets, liabilities and owners' equity. Through which investors can understand the financial position of enterprises, such as the level of debt ratio, the amount of accounts receivable. The income statement is used to explain the status of the operation and profitability of a certain period of time. Through which investors can be aware of the operating conditions of enterprises. Cash flow statement is used to explain within a specific period, how the company's cash from operating activities, investing activities and financing activities changed. Through which investors can learn more about the status of funds, including the existence of the problem of a shortage of funds. Regardless of the macroeconomic level, industry or company level, investors conduct fundamental analysis, you should understand some basic financial analysis. The first is the price-earnings ratio 更多：https://www.bmcx.com/ , commonly known as the pe ofIe, the ratio of stock price and earnings per share, earnings per share is the company's profit after tax divided by the capital of the Company. For example, a share price of 50 yuan, the profit after tax of 200 million yuan, the share capital of 40 million shares, the earnings per share is $ 5, price-earnings ratio of 10 times. 10 times price-earnings ratio means that investors buy the stock price of 50 yuan, assume that each year all profits as dividends, investors need in 10 years from the profitability of the business to recover the investment. Price-earnings ratio is widely used in the valuation of listed companies, a measure of corporate profitability, in order to determine the level of stock prices. However, theCorporate profitability is always changing, the static price-earnings ratio is often a lack of effectiveness, the investor only close follow-invested enterprises to take advantage of the price-earnings ratio for investment. There is the book value, commonly known as pb, the ratio of stock price and net assets per share, net assets per share of net assets in the company's balance sheet divided by the company's share capital. Net assets per share on behalf of the shareholders of their rights, a shareholder has a basic embodiment of the value of the company's property and corporate investment, it can be used to reflect the intrinsic value of the enterprise. In general, a lower book value,Investment in higher value means that the equity premium is low, on the contrary, the lower value of investments. But sometimes, this case also shows that such stocks is expected is not good, not valued by the market capital. Therefore, in determining the investment value of a stock, investors must consider the prevailing market conditions, the company's business position and profitability and other factors. The need to remind investors in financial statements must adhere to the comprehensive principle, multiple indicators, the ratio of integrated together to form a comprehensive and objective evaluation of the company. The same time, we must adhere to consider the personality principle, give full consideration to the particularity of the company,Can not be simply a direct comparison with the same industry companies. Buffett's famous saying, only when the tide goes out only to find out who is swimming naked. Learning stock fundamental analysis, does not mean that every investment decision-making can be one hundred percent success of each trading decisions can never miss, and even more impossible to anticipate the stock market every day up and down. The purpose of the study is to allow investors to participate in the investment rational, scientific, and will not be swimming naked. As Buffett said: "My success is not derived from IQ, I think the most important thing is rational. I was always the IQ and can be likened to the power of the engine, but the output powerThat is, the work efficiency depends on the rational hope all investors came to realize the true meaning of investment from Buffett's remarks.

Industry analysis is another important aspects of fundamental analysis, it is the connection of macro-economic analysis and the analysis of listed company of bridge. Analysis of industry's main tasks include: explained the stage of development of the industry and its position in the national economy, analysis of factors affecting the industry and determine its impact on the industry, and predict and guide the future development of the industry trends, determine investments value, reveal industry investment risks, so as to provide the decision-making basis for investors or investment basis. The rise and decline of the industry shows the change of position of the industry in the economy as a whole. In General, each sector will have infantile period,Process of growth, maturity and the sunset period, that is, application of new technologies, promote, transfer and process behind. So, investment in industries at different stages, his income and risk is not the same. Such as, for traditional industry, especially consumption class of industry,, he of technology and management relative mature, if profit comparison stability, so he of risk relative smaller; and investment some emerging industry, due to he of technology, and supporting, and downstream industry and so on are also no mature, or investment cycle class of industry, he of profit fluctuations comparison large, so these risk high; new once entered growth period,You can often obtain an explosive earnings growth, and therefore his investment income is relatively high. Company analysis is a basic analysis of the last levels, but is also a real investment activity, for investors, one of the most important aspects. Because, whether it is to judge the macro-economic analysis of investment environment, or select the concept of investment in the field of industry analysis, subject to specific investment choices of the market index investment, eventually settled on the micro level analysis of the listed companies. Should say, companies in the analysis of the most important is the financial status of the company.Financial statements are generally considered is to obtain information about the company. On the premise of information disclosure, published financial statements are important for forecasting of investment value of listed companies and securities pricing information?. Listed in the company's published financial information, the most important of the balance sheet, income statement and cash flow statement. Where description is on the balance sheet at a specific point in time business status of the assets, liabilities and owner's equity. Through which investors can understand basic financial conditions, such as how much of the debt ratio is high or low, receivables, and so on. Income statement is to explain the operation and profitability of enterprises in a certain period of time. Through which investors can know the business operation of the. Cash flow statement is to explain the specific period, how the company's cash from operating activities, investing activities and financing activities and changes. Through which investors can understand the enterprise's capital position, including the existence of financial stress, problems, and so on. Whether macroeconomic level, or trade or company level 更多：https://www.bmcx.com/ , before fundamental analysis investor, should be aware of some basic indicators of financial analysis. First of all is the price-earnings ratio, generally known as PE,Ratio of stock price and earnings per share, earnings per share is the company's after tax profit divided by the company's share capital. For example, a unit price of $ 50, after tax income of $ 200 million equity to 40 million shares, its earnings per share of $ 5, 10 times times forward earnings. 10 times price-earnings ratio means that investors buy this stock at $ 50 price, assuming that enterprises will all profit for dividends each year, the investor needs, after 10 years to recoup their investment from corporate earnings. Price-earnings ratio is widely used in the valuation of listed companies, measure the enterprises future profitability, to determine level of share price now. However,Profitability of the enterprise are always changing, static earnings tend to lack effectiveness, investors only by closely tracking the investment companies, to use price-earnings ratio for investment services. There is the book, generally referred to as PB, and the ratio of net assets per share stock price and net assets per share is the net assets in the balance sheet of the company divided by the company's share capital. Net assets per share represents the shareholder's interest, property and investment value of the company is a shareholder-owned company the most basic embodiment, which reflect the company's intrinsic value. In General, lower net rates,Means lower premiums and investment value of stocks higher, on the contrary, the lower investment value. Sometimes, however, it is also such a unit is expected to well, not attention to the market. Therefore, when in judging the value of a stock investment, investors will also have to take into account prevailing market conditions, operating conditions, and profitability of the company, and many other factors. Need to be reminded of is that when investors in financial statement analysis, it is necessary to adhere to the principle of comprehensive, integrated together multiple indexes, ratios, form a comprehensive and objective assessment of the company. At the same time, to adhere to the principle of considering the personality, fully taking into account particularities of the company,Cannot simply directly with industry companies. Warren Buffett quote, when the tide receded when they will see who is swimming naked. Learn basic analysis on stocks, does not mean that each investment decision is successful, each to have a 100% trading decisions are serving with, less likely to take this predicted rise and fall of the stock market every day. Learning to allow investors to invest in more rational, scientific, would not be a naked person. As Warren Buffett said: "I did not result from the success of high IQ, I think the most important reason. I have always compared to IQ and engine power, but power outputWhich depends on the efficiency of the work of reason ". Wish all investors can learn from Buffett's words, realize the truth of the investment.

Industry analysis of fundamental analysis is another important aspect, it is the connection macro economic analysis and the analysis of the listed company bridge. The main task of industry analysis including: explain industry's stage of development and its status in the national economy,Analysis on the development of the industry of various factors and its influence to the industry of the judge strength, predict and guide the industry's future development tendency, industrial investment value judgment, and reveals the industrial investment risk, and provide investors with decision-making basis or investment basis. industry indicates the rise and fall of the industry in the whole economic system status changes. Generally, each industry can experience childish period, growth, maturity and the sunset issue of the process, this is also the new technologies to produce, application, promotion, transfer and backward process. therefore,Investment in different stage of the industry, and his profit and risk is not the same. For example, for the traditional industry, particularly the industry consumer, that's in the technology and management relatively mature, if earnings more stable, so his risk relatively small; And some emerging industry investment, because of his technology, form a complete set,Downstream industry and so on all is not mature, or investment cycle of industry of, his earnings volatility is bigger, so the risk is higher; Emerging industry once in growth, and then often can get a BaoFaShi earnings growth, so he's investment income is high. company analysis is the last of a basic analysis hierarchy, but also is the actual investment activity, for the investors most important aspect of. Because, whether in the judgement of the investment environment macroeconomic analyses, or is it choose the investment field medium industry analysis,In addition to the market index of the specific investment investment object choice, eventually will locate in micro analysis of the listed company. should say, company analysis is the most important in the financial status analysis. Financial statements are usually considered to access to the company of information tools. In the information to disclose the standard, under the premise ofAlready published financial statements is public investment value forecast and security pricing information to the important? . in the listed company published financial information, the most important of a balance sheet, an income statement and a cash flow statement. Among them, the balance sheet is described in a specific date enterprise assets,Liabilities, and owner's equity of the state. Through it, investors can understand enterprise basic financial conditions, such as the ratio of height, how many accounts receivable, and so on. the income statement is used to explain the enterprise in a given period of time management and profitability. Through it, investors can know the operations of the enterprise. the cash flow statement is used to explain the specific during inside, how the company's cash for business activities, investment activities and financing activities and produce change. Through it, investors can understand enterprise's finances, including whether there are funds problem 更多：https://www.bmcx.com/ , etc. whether macro economic level,Or industry or company level, investors for basic analysis before, should know some basic financial analysis index. first is p/e ratio, generally called PE, namely the stock market price and earnings per share ratio, earnings per share is the company profit after tax divided by the capital. For example, a stock price of 50 yuan,The after-tax profits for 200 million yuan, equity for 40 million shares, so its earnings per share for $5, p/e ratio of 10 times. 10 times p/e ratio is mean investors to 50 yuan to buy this stock price, assuming enterprise every year will all profits for dividends, investors should be in 10 years later, to withdraw from the enterprise profit investment. p/e ratio is widely used in the listed company valuation measure enterprise future profit ability to judge now the discretion of the share price. But, enterprise's profit ability is in constant change, static p/e ratio is often lack the actual effect, investors closely tracking the investment enterprises only,Can use p/e ratio for investment service. there is city net rate, generally called PB, is a share of the net assets of the stock price and the ratio, and net assets per share of the net assets of the company's balance sheet is divided by the capital. Net assets per share is representative of the rights and interests of the shareholders enjoy,Shareholders have the properties of the company and is the most basic investment value reflect, it can be used to reflect the intrinsic value of the enterprise. generally speaking, city net rate is low, means the stock premiums are low and investment value higher, instead, then investment lower value. But sometimes, this kind of circumstance also shows that such stocks expected bad,Not for money market value. Therefore, in the judgment of a stock investment value, investors will also have to consider the market environment, at that time of the company's performance and profitability and so on various factors. need special remind is, investors in the financial statement analysis, must insist completely principle,More index, ratio comprehensive together, the formation of a comprehensive company objective evaluation. At the same time, but must adhere to consider personality principle, and fully consider the company's particularity, not simple to directly compare with the industry company. buffett have famous words, only when the tide back can find who is swimming naked.Learn stock basic analysis, does not mean that every investment decision can get one hundred percent of success, each business decision can bats, is more impossible to foresee the stock market rise and fall every day. The purpose of the study is to let investors more rational, and science in investment, and not be swimming naked people.As Mr Buffett said: "my success is not from high IQ, I think is the most important reason. I always put the IQ and to compared to the power of the engine, but output power, also is work efficiency depends on rational". Hope all investors can from buffett's remarks,Comprehend the true meaning of investment.

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