新华社北京８月２４日电（记者 赵晓辉、陶俊洁）经过多日徘徊之后，在上市公司业绩预期不断恶化的情况下，上证综指２４日收盘跌穿２１００点关口，创下三年多来新低。

    Xinhua Beijing on August 24,（Reporter ZhaoXiaoHui、TaoJunJie）After days after wandering，In the performance of listed companies expected worsening situation，The Shanghai composite index closed down 24 in 2100 point passes，In more than three years to new lows。

    ２４日早盘，上证综指开盘后一直在２１００点上方弱势调整，之后跌穿２１００点。午盘，上证综指一度收复失地，但终因做多动能不足而收于２０９２点，跌幅近１％。

    24 early disc，The Shanghai composite index has been opened at 2100 points above the weak adjustment，Fall 2100 points after wear。noon，The Shanghai composite index once to recover，But end by doing much kinetic energy shortage and closed at 2092 points，Fell nearly 1%。

    在深圳市场，股指跌幅更为剧烈。深证成指下跌１．７３％，收盘于８５７９．２８点；中小板指数下跌１．５６％，收盘于４２７８．３３点，创业板指数则跌幅达２．３％，收盘于７３３．３１点。

    In shenzhen market，Stock index fell to the much more intense。Shenzhen stock exchange ChengZhi fell 1.73%，Closing at 8579.28 points；Small and medium-sized plate index fell 1.56%，Closing at 4278.33 points，Gem index is down 2.3%，Closing at 733.31 points。

    分析人士认为，近期欧美股市走低，国内经济预期不稳，上市公司盈利预期进一步下降，再加上股市长期低迷带来的人气涣散，共同导致了沪深股市的下跌，其中上市公司盈利预期为当前最直接的因素。

    Analysts believe that，The recent European and us equity markets lower，The domestic economy expected instability，Listed companies' profit is expected to decline further，Plus stock long-term downturn bring popularity and lax，Common led to the Shanghai and shenzhen stock market decline，The listed companies' profit expectations for the most direct factors。

    今年以来，受国内外宏观经济形势影响，我国企业盈利状况很不乐观。中金公司的报告显示，我国工业企业利润增长在持续恶化，上半年利润总额２．３万亿元，同比下降２．２％，而去年全年上升２５％。虽然７月数据显示制造业企业盈利环比下降的速度显著放缓，但基于当前的增长动能，预计企业利润难有显著改善。

    Since this year，At home and abroad by the macro economic situation influence，Our country enterprise profitability is not optimistic。The cicc report shows，Our country industrial enterprise profit growth in the continued to worsen，In the first half of the total profit of 2.3 trillion yuan，2.2% year-on-year drop，And up 25% last year。Although July data display manufacturing enterprise profit chain drop speed slows significantly，But based on current growth kinetic energy，Enterprise profit is expected to have a significant improvement。

    具体到上市公司，净利润下降已经成为中报的流行色。数据显示，截至８月２３日，有１４２５家公司披露了中报，在和去年同期有可比性的１３３８家公司中，净利润平均下降幅度为６．９％。

    Specific to the listed company，Net profit decline has become a fashion center daily news。Data display，As of August 23,，1425 companies to disclose the center daily news，In the same period last year and have comparability of the 1338 companies，The average net profit decline of 6.9%。

    “大多数行业应收账款周转率水平相比去年同期均有较显著的下降；幅度较大的包括煤炭、建筑、钢铁和餐饮旅游等。房地产、交通运输和国防军工略有上升，且半年以来新发生的应收账款增长幅度明显。”博时基金宏观策略部总经理魏凤春说。

    “Most industry receivable turnover level compared with the same period last year were the significant decline；To a larger extent, including coal、building、Steel and catering tourism, etc。Real estate、Transportation and national defense military increased slightly，And since the half a year new happen accounts receivable increase obviously。”When rich fund macro strategy department general manager WeiFengChun said。

    他认为，应收账款增加在压制盈利的同时还隐含了未来的风险，使得人们对企业未来的盈利预期不断下调。

    He thinks，Accounts receivable increases in pressing profit at the same time also implied the risk of the future，Allow people to the enterprise future earnings is expected to cut continuously。

    此外，就市场本身而言，股指期货和转融通机制的实施使得做空机制已经见效。在预期向下的背景下，做空力量对股指的冲击力不可小瞧。

    In addition，Will the market itself，Stock index futures and the implementation of the refinance mechanism make shorting mechanism has been effective。In the background of the expected downward，Do air power to the impact of the stock index not flex。

    不过，经过新一轮下跌，Ａ股估值水平再度降低。目前，沪深３００指数未来一年的预市盈率不到１０倍，低于欧美市场估值。

    but，After a new round of down，A stock valuation levels lower again。At present，Shanghai and shenzhen 300 index future one year of preliminary p/e ratio less than 10 times，Less than the European and American market valuations。

    不少分析人士表示，结合宏观调控政策的效果和政府稳增长的决心，对市场仍持谨慎乐观的态度。

    Many analysts said，Combined with the effect of macroeconomic regulation and control policy and government steady growth determination，The market is still cautiously optimistic。