The disclosure of the annual report gradually entered the peak, and the invisible heavy positions of star fund managers also surfaced.
Although the four seasons report of the fund only discloses the list of the top ten heavyweight stocks, and the specific operation ideas of the fund manager cannot be fully understood, some clues will be revealed about the top ten shareholders disclosed by listed companies.
From the current situation, Zhu Shaoxing paid more attention to the field of automotive electronics, and the leader of automotive electronic controller Shenzhen H&T Intelligent Control Co.Ltd(002402) was greatly increased in the fourth quarter. Consumer electronics leader Luxshare Precision Industry Co.Ltd(002475) is cutting into the field of car manufacturing. Zhu Shaoxing also “appeared” to investigate Luxshare Precision Industry Co.Ltd(002475) for the first time this year.
Xie Zhiyu paid special attention to emerging industries such as photovoltaic and CNC machine tools. At the end of January this year, he personally investigated China’s Micro photovoltaic inverter leader Hemai Co., Ltd. and built a new warehouse of CNC machine tool leader Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) in the fourth quarter.
Zhu Shaoxing wantonly increased his position Shenzhen H&T Intelligent Control Co.Ltd(002402)
On February 21, Shenzhen H&T Intelligent Control Co.Ltd(002402) released the annual report of 2021. In 2021, the net profit attributable to the owner of the parent company was 553 million yuan, a year-on-year increase of 39.73%; The operating revenue was 5.986 billion yuan, a year-on-year increase of 28.3%.
Zhu Shaoxing appeared among the top ten shareholders of Shenzhen H&T Intelligent Control Co.Ltd(002402) . The Wells Fargo Tianhui selected growth hybrid securities investment fund under its management increased its position of Shenzhen H&T Intelligent Control Co.Ltd(002402) 10.8045 million shares in the fourth quarter, held 27.8045 million shares at the end of the period, and the market value of its position reached 763 million yuan.
Zhu Shaoxing has been following Shenzhen H&T Intelligent Control Co.Ltd(002402) for a long time. In the first quarter of last year, the Wells Fargo Tianhui selected growth hybrid securities investment fund managed by Zhu Shaoxing held a position for the first time. In the second quarter, he increased his position of 5.317 million shares and reduced his position of 30900 shares in the third quarter, but he increased his position significantly in the fourth quarter.
It is understood that Shenzhen H&T Intelligent Control Co.Ltd(002402) is mainly engaged in the research, development, design and software services of intelligent controller, and provides corresponding solutions. Thanks to the rapid growth of the entire intelligent controller industry and the company’s business expansion, the company’s revenue has maintained positive growth since its listing. The company’s business has also expanded from home appliance intelligent controller and electric tool intelligent controller to automobile electronic controller. Chengchang technology RF chip has contributed to the company’s profits.
The company’s automotive electronics industry has accumulated orders of 8 billion yuan, which has passed the review of global Tier1 manufacturers BorgWarner, nedco, Mercedes Benz, BMW and other terminal automobile manufacturers, and established cooperative relations. “Due to the impact of the shortage of key raw materials such as chips and IGBT, we expect that the peak delivery period of orders will be 2025 and the next few years. There should be relatively large-scale delivery in these years, forming a certain scale of revenue,” the company said
At the same time, the company also reserves new research directions. According to the company, the first is the body domain control, which is positioned in the incremental part of the body domain control. It mainly focuses on the overall domain control of the body and the scene of the interior of the vehicle, such as the intelligent seat, seat heating, seat massage, seat memory, welcome function and so on. From the perspective of body domain control, the company has a more comprehensive layout, focusing on the incremental part and technology.
The second is integrated thermal management. At present, there are three parts of integrated thermal management. The first is integrated control; The second is the battery heater, which replaces the traditional PTC heating, mainly for thick film heating; The third is about heat pump, such as heat pump air conditioning and other applications.
According to Zhongtai Securities Co.Ltd(600918) research, the electrification of vehicles and the accelerated development of intelligence on this basis have brought about the incremental demand for a large number of electronic parts. If the release of the first generation iPhone in 2007 opened the golden decade of the industrial chain of consumer electronics, especially apple, then the proposal of the “double carbon target” in 2020 opened the golden decade of the industrial chain of automotive electronics, especially new power auto enterprises.
Xie Zhiyu Jiancang Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083)
On February 19, Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) released the annual report for 2021. Xingquan Herun under Xie Zhiyu of Xingzheng Global Fund and xingxinxin vision under qiaoqian became the top ten shareholders of the company, ranking ninth and tenth respectively. The number of new positions was 15.6011 million shares and 15.3251 million shares respectively. The market value distribution of positions at the end of the period was 223 million yuan and 219 million yuan.
The reporter of the Securities Times found through Xie Zhiyu’s historical positions that Xingquan Herun and Xingquan Heyi, its funds, once held Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) . The third quarterly report of Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) 2020 showed that Xingquan Herun and Xingquan Heyi managed by Xie Zhiyu newly became the top ten shareholders of the company, but soon withdrew from the list of the top ten shareholders in the 2020 annual report.
This means that Xie Zhiyu actually had a certain understanding of the fundamentals of the company before he built warehouse Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) . What did Xie Zhiyu like about the company when he built warehouse Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) again this time?
Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) is a mechanical equipment company with high-end intelligent equipment business as its core business. Formerly known as Jinsheng precision, the company is mainly engaged in the manufacturing of precision structural parts of electronic products, and provides precision structural parts for mobile phones, platform computers, intelligent wearable devices, etc. In 2015, Jinsheng precision acquired Shenzhen Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) and entered the machine tool industry. In 2020, the company officially changed its name to Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) , mainly engaged in high-end intelligent equipment business, and began to peel off the original precision structural parts business of electronic products.
After the stripping of precision structural parts business, the company’s performance has improved significantly. In 2021, Guangdong Create Century Intelligent Equipment Group Corporation Limited(300083) achieved a revenue of 5.262 billion yuan, a year-on-year increase of 53.60%; The net profit attributable to the parent company was 500 million yuan and turned losses into profits.
Capital Securities believes that the company continues to increase the R & D investment in high-end CNC machine tools, and the five axis vertical machining center has completed the R & D and is about to start delivery. The arrival of the ten-year renewal cycle of machine tools will greatly release the renewal demand, and the business cycle of the industry is expected to be further extended. With the further deepening of domestic substitution in the field of high-end machine tools, the company will fully benefit from the strong demand in the downstream and usher in rapid growth in performance.
In the long run, Capital Securities believes that the company has completed the stripping of non core business and the development of the core main business of CNC machine tools has entered the fast lane; At the same time, deepen the implementation of supply chain management and control, lean production and intensive cost management measures, and the profitability will continue to improve in the future. With the completion and operation of the company’s production capacity base, it is expected to further expand its competitive advantage and enhance its market share.
star fund managers are busy investigating
Since this year, A-Shares have experienced a wave of correction. Although the market index has rebounded a lot, there are still many stocks with large declines, but fund managers are stepping up research against the trend.
Zhu Shaoxing “appeared” in the Luxshare Precision Industry Co.Ltd(002475) survey for the first time this year. On February 13, Luxshare Precision Industry Co.Ltd(002475) disclosed investor research information. 223 institutions participated in the company’s research activities, including the relocation of Xingquan fund, Tong LAN, Zhou Yingbo of China Europe Fund, Wu Xingwu of Guangfa fund, and Zhu Shaoxing, a veteran of Wells Fargo fund, also personally participated in the research.
In addition, many head private placement institutions participated in the Luxshare Precision Industry Co.Ltd(002475) survey, including Gaoyi assets, Jinglin assets, Lingren investment, Danshui spring, etc.
The focus of this institutional research is mainly on Luxshare Precision Industry Co.Ltd(002475) car making. On February 11, 2022, Luxshare Precision Industry Co.Ltd(002475) signed the strategic cooperation framework agreement with Chery Holding Group Co., Ltd., Chery Automobile Co., Ltd. and Chery new energy in Wuhu, laying a strategic partnership between the two sides.
On the basis of the agreement, Luxshare Precision Industry Co.Ltd(002475) and Chery new energy intend to jointly establish a joint venture, specializing in the R & D and manufacturing of new energy vehicles, providing cutting-edge R & D, design, mass production platform and access to the sea for Luxshare Precision Industry Co.Ltd(002475) auto core parts business, and committed to realizing the company’s medium and long-term goal of becoming a leading manufacturer of auto parts tier 1.
In the institutional research activities, Luxshare Precision Industry Co.Ltd(002475) said that the company has a mature foundation in the consumer electronics and communication industry. At the same time, the company has a layout of R & D and manufacturing bases in many countries around the world. Based on this, the company has great advantages in the automotive field. The company is good at horizontally connecting technology and experience in different fields. Therefore, the company can smoothly realize cross-border application from the perspective of dimension reduction, and seize new application opportunities with new ideas and technologies.
Xie Zhiyu investigated listed companies more frequently this year. During January alone, he investigated three listed companies, Nantong Jianghai Capacitor Co.Ltd(002484) , Apeloa Pharmaceutical Co.Ltd(000739) and Hemai shares. Among them, Nantong Jianghai Capacitor Co.Ltd(002484) and Hemai shares were the companies Xie Zhiyu participated in the research for the first time.
In the fund’s four seasons report, Xie Zhiyu said that in 2022, he will continue to adhere to the operation concept of selecting individual stocks from bottom to top, mainly focus on the company’s core competitiveness and balance the company’s short-term valuation and long-term value. Keep looking for investment targets with good cost performance, and pay attention to excellent companies in the direction of long-term development.
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