The recent stabilization and rebound of the photovoltaic sector has made many investors ready to move. Data show that in the past month, foreign giants have also made a big increase in holdings of China's leading photovoltaic companies.
After the theme of "carbon neutralization" has become a consistent choice for foreign investment in China, "photovoltaic" is undoubtedly a popular option for foreign investment in China. Therefore, the leading companies have been overweight by foreign giants.
capital group increased its holdings of photovoltaic glass leader five times in January
According to the information disclosure documents of the Hong Kong stock exchange, the trillion dollar asset management giant capital group increased its holdings of photovoltaic glass leader Flat Glass Group Co.Ltd(601865) for five consecutive times from October 6 to November 2, and the shareholding ratio increased from 4.89% to 9.46%.
On October 6, the capital group bought 4158000 shares at an average price of HK $34.30; On October 7, the capital group sold again and bought 2.968 million shares at an average price of HK $35.13; On October 8, the capital group sold for the third time, buying 5.82 million shares at an average price of HK $34.09; On October 12, the capital group sold for the fourth time, buying 1.667 million shares at an average price of HK $34.89; On November 2, the capital group sold for the fifth time, buying 3.918 million shares at an average price of 387200 shares.
In less than a month, the capital group bought a total of 20.569 million shares at a cost of more than HK $700 million.
In terms of share price, Flat Glass Group Co.Ltd(601865) glass (Hong Kong stocks) has rebounded sharply from the phased place of HK $17.06 in May, and the latest closing price is HK $33.50. In September, the share price once reached a phased high of HK $45.4. Since then, the stock price began to fluctuate.
Flat Glass Group Co.Ltd(601865) glass released its third quarterly report on October 20, which showed that in the first three quarters of 2021, the company's operating revenue was about RMB 6.337 billion, a year-on-year increase of 57.78%; The net profit attributable to shareholders of listed companies was about 1.717 billion yuan, a year-on-year increase of 111.5%.
Flat Glass Group Co.Ltd(601865) glass is one of the "heart good" Chinese stocks of capital group.
According to the official website of asset management group, as of the end of September, the two flagship funds of capital group held Flat Glass Group Co.Ltd(601865) glass shares (regardless of listing places), namely Shanghai New World Co.Ltd(600628) fund and European The Pacific Securities Co.Ltd(601099) growth fund, holding 5.06million shares and 10.566 million shares respectively. Outside the capital group, according to the data from Barron weekly, funds under JPMorgan Chase, Jingshun investment, Mingji international and other institutions also hold Flat Glass Group Co.Ltd(601865) glass.
Some sellers also gave optimistic expectations for China's photovoltaic glass segment industry. For example, Tianfeng Securities Co.Ltd(601162) published a research report on November 19 that although China's demand is still weak in the short term, overseas demand has an increasing trend. Photovoltaic glass has risen recently, but Tianfeng Securities Co.Ltd(601162) believes that the rise in cost at the same time may still keep the average profit of the whole industry at the bottom. In the future, if the demand accelerates to improve, the price of photovoltaic glass is still expected to rise. It continues to be optimistic about the logic of simultaneous rise in volume and price of leading companies in the future.
JPMorgan Chase fund increased its holdings of Longi Green Energy Technology Co.Ltd(601012) 1179.05% in October
In fact, the PV leader increased by foreign capital is not just Flat Glass Group Co.Ltd(601865) . In November, Xiaomo JPMorgan increased its holdings of another photovoltaic glass leader, Xinyi solar energy. On November 19, JPMorgan Chase increased its holdings of 4.81 million shares of Xinyi Guangneng.
One of JPMorgan's flagship China funds has increased its positions in another photovoltaic leader Longi Green Energy Technology Co.Ltd(601012) . In October, JPMorgan Funds - China A-share Opportunities Fund I (ACC) – HKD (JPMorgan Fund - China A-share Opportunities Fund I (ACC) Hong Kong dollars), the position increase Longi Green Energy Technology Co.Ltd(601012) was as high as 11.79 times.
Over the same period, JPMorgan Fund - China A-share Opportunity Fund I (ACC) increased its position by Wuliangye Yibin Co.Ltd(000858) 949.13% and Contemporary Amperex Technology Co.Limited(300750) 100% in Hong Kong dollars. After the position increase, as of the end of October, Longi Green Energy Technology Co.Ltd(601012) jumped to the largest heavy position stock of "JPMorgan Fund - China A-share Opportunity Fund I (ACC) HK $", Wuliangye Yibin Co.Ltd(000858) ranked second. JPMorgan Fund - China A-share Opportunity Fund I (ACC) is JPMorgan's flagship A-share fund, with the latest scale of more than 50 billion yuan.
the funds under Aberdeen standard recently increased their holdings of Longi Green Energy Technology Co.Ltd(601012)
In addition to American capital groups and JPMorgan Chase, another European giant also shot.
According to the data, Aberdeen China a share equity a gopax, a European asset management giant, also increased its holdings of Longi Green Energy Technology Co.Ltd(601012) slightly in October. The fund also increased its holdings by Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) over the same period, with an increase of 10.22%.
Another larger Chinese fund under Aberdeen investment increased its holdings of Longi Green Energy Technology Co.Ltd(601012) significantly in September. This "Aberdeen standard SICAV I - China a share equity fund I Acc USD" fund increased its holdings by Longi Green Energy Technology Co.Ltd(601012) 20.08% and Contemporary Amperex Technology Co.Limited(300750) 14.07% in September. The fund's latest management scale is about $4.7 billion.
Changes in Longi Green Energy Technology Co.Ltd(601012) held by land stock connect in the recent period:
It can be seen that although the overall Longi Green Energy Technology Co.Ltd(601012) held by northbound funds has not increased significantly recently, some foreign giants have taken action and began to increase their positions with a large amount of money.
the price rise of silicon materials in the fund is coming to an end
the profitability of photovoltaic industry is expected to improve
They have increased their holdings or seen the possibility of improving the profitability of the industry. For example, Liu Xiao, manager of Guohai Franklin fund, said in a recent interview that the price of silicon material has increased this year, and the middle and lower reaches are in a state of low profit; In addition, the installed capacity of PV this year is expected to be lower than that at the beginning of the year. She also pointed out that the periodic fluctuation of photovoltaic is expected to be repaired to a certain extent in the future. "The price reduction of silicon materials in the future will be good for the midstream."
With the advent of the parity era, Liu Xiao believes that considering the problem of photovoltaic penetration, photovoltaic has changed from a cycle industry to a growth industry. She said that the "3060 target" means that the proportion of non petrochemical energy in primary energy consumption will reach about 25% by 2030, which means that there is still a lot of space for photovoltaic.
In addition, Liu Xiao also specifically mentioned the inverter field as an important photovoltaic module: "In addition to following the rapid development of the photovoltaic industry, there is a larger market for inverters, namely energy storage, which is also growing very rapidly. Due to the rapid expansion of production this year, the pressure on gross profit margin is large. Next year, there is more room for gross profit margin to repair from the bottom up."
Yang Ningjia, Haifutong fund manager, said in a recent interview that the recent rise in the photovoltaic sector is mainly due to the market's belief that the rise in the price of upstream raw materials is at an end, and the subsequent price is expected to fall from a high level.
He said: "With the decline in the prices of silicon materials, silicon wafers and auxiliary materials next year, components and inverters are expected to benefit directly, and the sector still has a very definite investment logic. In addition, the United States announced on November 16 that it would reduce tariff 201 and restore the exemption of double-sided components. The tariff reduction is expected to further benefit the component exports of relevant enterprises. In the future, we will mainly look for components with obvious profit improvement and obvious increment next year Obviously, it is the investment target. "
(China Fund News)
