Core view
On the whole, fund positions in the chemical industry showed an upward trend. In terms of the disclosed market value, the position of each chemical sector ranks the fifth, accounting for 2.6% of the total market value. The top three industries are food and beverage, electronic and electrical equipment, with market value accounting for 15.5%, 14.4% and 13.6% respectively. The proportion of fund positions in the chemical sector in circulating shares decreased slightly. Its total holdings accounted for the overall circulation of A-Shares in the sector, down 0.6 percentage points from the previous period. However, compared with the sectors with obvious warehouse reduction, such as medicine, biology, textile and clothing, the chemical industry as a whole is still stable. From the perspective of secondary sub industries, the fund has heavy positions in chemical products and chemical fibers. At present, the market value of the two sub industries in the fund positions accounts for 3.7% and 4.4% respectively, which has decreased by 0.6 and 2.8 percentage points respectively compared with 2020q4. Among the three sub industries, polyester, polyurethane and other chemical products account for a large proportion of the market value, accounting for 10.9%, 8.2% and 43.1% of the overall position of chemical industry respectively. Among them, the proportion of tire and potash fertilizer in 2021q4 increased most significantly. In terms of stock, Yunnan Energy New Material Co.Ltd(002812) and Wanhua Chemical Group Co.Ltd(600309) are important positions of public funds in 2021q4. From the perspective of position market value, the total position market value of Yunnan Energy New Material Co.Ltd(002812) of public funds as a whole is the highest. Based on the closing price on December 31, its position market value reaches 22.513 billion yuan. Followed by Wanhua Chemical Group Co.Ltd(600309) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Rongsheng Petro Chemical Co.Ltd(002493) , Qinghai Salt Lake Industry Co.Ltd(000792) , Sailun Group Co.Ltd(601058) . From the perspective of the proportion of positions in circulating a shares, the overall position of public funds in Jiangsu Cnano Technology Co.Ltd(688116) is the heaviest, accounting for 27.13%. Followed by Quakesafe Technologies Co.Ltd(300767) , Anhui Huaheng Biotechnology Co.Ltd(688639) , Yunnan Botanee Bio-Technology Group Co.Ltd(300957) , Shandong Weifang Rainbow Chemical Co.Ltd(301035) , Sailun Group Co.Ltd(601058) .
In terms of variables, in the fourth quarter, the fund increased more positions for companies such as Haohua Chemical Science & Technology Corp.Ltd(600378) , Guizhou Zhenhua E-Chem Inc(688707) – u, Hangzhou Juheshun New Material Co.Ltd(605166) . From the perspective of the change of shareholding ratio, the fund increased its positions in Haohua Chemical Science & Technology Corp.Ltd(600378) more in the fourth quarter. The shareholding of 2021q4 fund accounted for about 11.53% of the overall circulation ratio, an increase of 7.58 percentage points over the previous period. The remaining stocks with more month on month growth were Bluestar Adisseo Company(600299) , Anhui Huilong Agricultural Means Of Production .Co.Ltd(002556) , Qingdao Sentury Tire Co.Ltd(002984) , Hubei Huitian New Materials Co.Ltd(300041) , Yuanli Chemical Group Co.Ltd(603217) , Qinghai Salt Lake Industry Co.Ltd(000792) , Lier Chemical Co.Ltd(002258) , Zhuzhou Times New Material Technology Co.Ltd(600458) , Guizhou Zhenhua E-Chem Inc(688707) – U. From the perspective of shareholding changes, funds increased their positions more in Jiangsu Jingxue Insulation Technology Co.Ltd(301010) in the fourth quarter. As of December 31, Jiangsu Jingxue Insulation Technology Co.Ltd(301010) had a total number of shareholding institutions, with the fund holding 579100 shares, an increase of 576900 shares over the previous period. The remaining stocks with more month on month growth were Bluestar Adisseo Company(600299) , Anhui Huilong Agricultural Means Of Production .Co.Ltd(002556) , Qingdao Sentury Tire Co.Ltd(002984) , Hubei Huitian New Materials Co.Ltd(300041) , Yuanli Chemical Group Co.Ltd(603217) , Qinghai Salt Lake Industry Co.Ltd(000792) , Lier Chemical Co.Ltd(002258) , Zhuzhou Times New Material Technology Co.Ltd(600458) , Guizhou Zhenhua E-Chem Inc(688707) – U.
Leading enterprises: leading enterprises represented by Zhejiang Nhu Company Ltd(002001) show signs of increasing positions. As of 2021q4, the fund’s position in Zhejiang Nhu Company Ltd(002001) accounted for 2.0% of the circulating a shares, a slight increase of 0.4 percentage points over the previous quarter. At present, it is in the state of increasing its position. Zhejiang Nhu Company Ltd(002001) is an international leading enterprise in vitamin production. It has the advantage of the whole industry chain in the vitamin industry. The production capacity of vitamin A and VE is at the leading level in the industry, bringing high profits to the company. In the first three quarters of 2021, the operating revenue reached 10.516 billion yuan, a year-on-year increase of 40.72%; The net profit attributable to the parent company was 3.366 billion yuan, a year-on-year increase of 14.67%. The company improves the nutrition industry chain, develops new material business as a new pillar, complies with the trend of carbon neutralization and enters the biological fermentation technology, which is expected to overcome the technical difficulties of vitamin B family and enrich the product types. Therefore, it is favored by the fund position.
Investment advice
Leading enterprises with large fund positions, good industry and strong profitability may benefit, such as: Wanhua Chemical Group Co.Ltd(600309) , Zhejiang Nhu Company Ltd(002001) , Hengli Petrochemical Co.Ltd(600346) , China Jushi Co.Ltd(600176) , Sailun Group Co.Ltd(601058) .
Risk tips
The international covid-19 epidemic worsened, the crude oil price fluctuated violently, the Sino US trade conflict, the upgrading of safety and environmental protection policies, etc.
