Allocation proportion: the proportion of 21q4 fund positions continues to increase and maintain the over allocation state. Up to now, all the heavy positions of 21q4 public funds have been disclosed. We select the top ten heavy positions of open-end and closed-end stock funds, partial stock hybrid funds and flexible allocation funds in the wind Fund Classification for statistical analysis. In terms of absolute allocation proportion, the position proportion of 21q4 actively managed public funds in the computer industry was 4.30%, which increased by 0.13pct month on month compared with 21q3 and decreased by 0.03pct year-on-year in 20q4. In terms of over allocation proportion, the market value of 21q4 computer industry accounted for 3.88%, and the over allocation proportion of active public funds was 0.43pct, which increased by 0.07pct compared with 21q3 and 0.23pct compared with 20q4. Overall, the absolute allocation proportion of 21q4 computer industry has increased for four consecutive quarters, and continues to be in the state of over allocation, and the over allocation proportion is still increasing, indicating that the public funds are paying more attention to the computer sector.
Heavy position shareholding: the concentration continues to decline, and the configuration tends to be diversified. From the perspective of shareholding concentration, the market value of TOP10’s positions accounts for 74.99% of the total market value of computer positions in 21q4, down 4.28pct month on month (MOM) from 21q3 The concentration of TOP10 continues to decline, indicating that actively managed public funds tend to be diversified in the allocation of computer sector, and the investment value of individual stocks with high prosperity in subdivided sectors is expected to highlight. Specifically, 21q4’s top 10 computer stocks are Hangzhou Hikvision Digital Technology Co.Ltd(002415) , China stock market news, Hundsun Technologies Inc(600570) , Glodon Company Limited(002410) , Thunder Software Technology Co.Ltd(300496) , Sangfor Technologies Inc(300454) , Zhejiang Dahua Technology Co.Ltd(002236) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Beijing United Information Technology Co.Ltd(603613) , Inspur Electronic Information Industry Co.Ltd(000977) . Among them, Hang Seng and Chuangda ranked higher, Desai and Inspur made new progress, Shanghai Baosight Software Co.Ltd(600845) , Dbappsecurity Co.Ltd(688023) withdrew from the top ten. From the industry distribution of TOP10, the attention of automotive intelligence (Chuangda and Desai) has increased.
Increase or decrease of holdings: pay attention to the prosperity of the track and the matching degree of valuation. We measure the increase or decrease of the fund’s holdings of individual stocks by comparing the proportion of 21q4 fund’s holdings in the total share capital with the increase or decrease of 21q3. 21q4’s holdings of the top 20 stocks are mainly concentrated in sectors with high prosperity and valuation matching. Industries with high prosperity, such as automotive intelligence ( Thunder Software Technology Co.Ltd(300496) , Hangzhou Arcvideo Technology Co.Ltd(688039) ), aerospace informatization ( Piesat Information Technology Co.Ltd(688066) ), power informatization ( Longshine Technology Group Co.Ltd(300682) , State Grid Information&Communication Co.Ltd(600131) ), smart people’s livelihood ( Zhejiang Heda Technology Co.Ltd(688296) , Runa Smart Equipment Co.Ltd(301129) ), financial it ( Hithink Royalflush Information Network Co.Ltd(300033) , China stock market news), data compliance ( Navinfo Co.Ltd(002405) , Westone Information Industry Inc(002268) ); For example, medical informatization ( B-Soft Co.Ltd(300451) , Sichuan Jiuyuan Yinhai Software Co.Ltd(002777) , Winning Health Technology Group Co.Ltd(300253) ), network security ( Nsfocus Technologies Group Co.Ltd(300369) , Topsec Technologies Group Inc(002212) ), industrial software ( Guangzhou Sie Consulting Co.Ltd(300687) , Shanghai Weaver Network Co.Ltd(603039) ). The reduction of top 10 shares includes Ucloud Technology Co.Ltd(688158) , Beijing Forever Technology Co.Ltd(300365) , Beijing United Information Technology Co.Ltd(603613) , Dbappsecurity Co.Ltd(688023) , Beijing Tongtech Co.Ltd(300379) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Shanghai Baosight Software Co.Ltd(600845) , Zhongfu Information Inc(300659) , Sangfor Technologies Inc(300454) , Wondershare Technology Group Co.Ltd(300624) . From the perspective of the allocation of sub sectors, we believe that 2022 still needs to focus on the four dividend resonance sectors of technology, policy, demand and talents, and take into account the prosperity and valuation matching of the sector. Focus on the industrial direction involved in the digital economy development plan, including automotive intelligence, localization of basic tool chain, informatization in the field of power and people’s livelihood, digital finance, aerospace informatization and data security.
It is recommended to pay attention to smart cars: Thunder Software Technology Co.Ltd(300496) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Autel Intelligent Technology Corp.Ltd(688208) , Arcsoft Corporation Limited(688088) , and Guangting information. Industrial software: Zwsoft Co.Ltd(Guangzhou)(688083) , Zhejiang Supcon Technology Co.Ltd(688777) , Shanghai Baosight Software Co.Ltd(600845) , dingyang technology, Shanghai Hollywave Electronic System Co.Ltd(688682) . Artificial intelligence: Iflytek Co.Ltd(002230) , Zhejiang Dahua Technology Co.Ltd(002236) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Opt Machine Vision Tech Co.Ltd(688686) , shangtang-w. Network security: Sangfor Technologies Inc(300454) , Dbappsecurity Co.Ltd(688023) , Venustech Group Inc(002439) , Nsfocus Technologies Group Co.Ltd(300369) , Qi An Xin Technology Group Inc(688561) – U.
Risk tips: 1) the epidemic situation intensifies and reduces the expenditure of enterprise informatization; 2) Fiscal and monetary policies are lower than expected; 3) The fluctuation of supply chain increases, which affects the development of science and technology industry.
