With the disclosure of the annual report of Listed Companies in 2021, the position of insurance capital also surfaced. As of April 7, a total of 102 insurance institutions and their products appeared in the list of shareholders of listed companies that have disclosed the 2021 annual report.
A number of insurance investors told the China Securities Journal China Securities Taurus reporter that now is a good time to allocate stock assets. In terms of specific allocation, it is suggested to make balanced allocation and pay attention to the two main lines of steady growth and technological innovation.
New China Life Insurance Company Ltd(601336) enter the list of China Vanke Co.Ltd(000002) top ten shareholders
According to the information disclosed in the annual report of listed companies, as of April 7, from the perspective of the number of shares held by insurance funds, Huaxia life insurance currently holds the largest number of shares, holding shares of 16 listed companies China Life Insurance Company Limited(601628) Insurance – traditional – General insurance products followed, holding 13 stocks. In addition, everyone life insurance – Universal products, Taikang Life Insurance – traditional – General insurance products, Xinhua Life Insurance – traditional – General insurance products, Taiping Life Insurance – traditional – General insurance products currently hold 5 or more stocks.
From the perspective of newly increased shareholding of institutions, China Vanke Co.Ltd(000002) insured capital has the most newly increased shares at present. According to the annual report of China Vanke Co.Ltd(000002) 2021, by the end of the fourth quarter, Xinhua Life Insurance – dividend – individual dividend had entered the list of top 10 shareholders, ranking ninth, holding 81.62 million shares, with a shareholding ratio of 0.70%.
Source: summary of Vanke 2021 Annual Report
In addition, Inner Mongoliayuan Xing Energy Company Limited(000683) was newly increased by nearly 50 million shares of Taiping Life Insurance – dividend – group insurance dividend The People’S Insurance Company (Group) Of China Limited(601319) – traditional – income portfolio increased China Aerospace Times Electronics Co.Ltd(600879) 2905 million shares, Xinhua Life Insurance – new traditional products increased Zte Corporation(000063) 2803 million shares.
In terms of the proportion of circulating a shares, up to now, the listed company with the largest proportion of insurance capital holdings in circulating shares is Henan Liliang Diamond Co.Ltd(301071) , accounting for 8.27%. Dingyang technology ranks second with 5.38% of the shares held by circulating shares and insurance capital. In addition, the proportion of circulating A-Shares held by insurance capital in Longyan Zhuoyue New Energy Co.Ltd(688196) , Donghua Testing Technology Co.Ltd(300354) , shengmei Shanghai also reached more than 4%.
the financial industry is still a “good heart” of insurance funds
From the situation of heavy positions of circulating shares of insurance companies, up to now, the financial industry is most favored by insurance funds. Among the top 10 listed companies with heavy positions of single insurance capital, except China United Network Communications Limited(600050) a non-financial institution, the rest are banks and insurance institutions. If the list is expanded to the top 20, 15 listed companies come from the financial industry.
Ping An Insurance Group currently holds Ping An Bank Co.Ltd(000001) 96 billion shares, accounting for 49.57% of its outstanding shares. In addition, Ping An Bank Co.Ltd(000001) is also held by Ping An Department insurance assets such as Ping An Life Insurance China Minsheng Banking Corp.Ltd(600016) is held by 4.5 billion shares and 1.4 billion shares respectively by universal products and traditional products under everyone life insurance China Merchants Bank Co.Ltd(600036) respectively obtained 1.13 billion shares and 810 million shares held by harmonious health insurance and everyone life insurance, unchanged from the end of September last year.
From the change of the number of heavily held shares of insurance capital, in the fourth quarter of 2021, the listed companies with the largest increase of insurance capital holdings were China Petroleum & Chemical Corporation(600028) , China Life Insurance Company Limited(601628) Insurance – traditional – General insurance products with an increase of 20.66 million shares Agricultural Bank Of China Limited(601288) suffered the most reduction, and was reduced by 360 million shares by China Life Insurance Company Limited(601628) Insurance – traditional – General insurance products. However, after the reduction, the number of shares held by this product still reached 2.3 billion shares.
From the industry of the circulating shares with heavy positions of insurance capital, in addition to the financial industry, telecommunications service industry, energy industry, real estate industry, non-ferrous metal smelting and calendering processing and other industries are also favored by insurance capital. In addition, among the newly increased shares of insurance capital, industries such as chemical raw materials and chemical products manufacturing, special equipment manufacturing, computer, communication and other electronic equipment manufacturing have become the new favorite of insurance capital.
Many insurers said that now is a good time to allocate stocks, and the current market valuation meets the stock selection requirements of insurance funds.
Guoshou assets believes that the current risk appetite in the equity market has been significantly repaired. For the risk capital with neutral position, from the perspective of absolute return, it will gradually take advantage of the opportunity of bottom shock to increase positions on bargain hunting. In terms of specific allocation, attention should be paid to the two main lines of steady growth and technological innovation. In the medium and long term, the upgrading of technology industry is still the main line. In the short term, the main line is defensive and valuation repair, looking for relevant sectors with undervalued value and expectation of boom reversal, and paying attention to trading opportunities in stable growth fields such as big finance and infrastructure real estate industry chain.
