Allocation proportion: the 22q1 fund position has changed to low allocation, and the absolute allocation proportion is at a historical low. Up to now, the 22q1 quarterly report of public funds has been basically disclosed. We selected the top ten heavyweight stocks of open-end and closed-end equity funds, partial stock hybrid funds and flexible allocation funds in the wind Fund Classification for statistical analysis in combination with the classification of CITIC’s primary industry. In terms of absolute allocation proportion, the position proportion of 22q1 actively managed public funds in the computer industry was 3.35% (2.59% if China stock market news was excluded), down 0.95pct from 21q4. In terms of over allocation proportion, the market value of 22q1 computer industry accounted for 3.57%, the low allocation of active public funds was 0.22pct, and the over allocation proportion decreased by 0.65pct compared with 21q4, and the industry changed from over allocation to low allocation. Overall, the absolute allocation proportion of 22q1 computer industry failed to continue the previous four consecutive quarters of improvement, and there was a significant decline, and the relative allocation proportion changed from over allocation to low allocation again. We believe that the market is pessimistic about the current sentiment of the computer sector, the proportion of positions has been at the bottom of history, and there is the possibility of valuation repair and position improvement in the future.
Heavy position shareholding: Automotive intelligence and industrial software are still the main configuration direction. From the perspective of shareholding concentration, the market value of the top 10 computer stocks in 22q1 accounts for 72.36%, and the concentration continues to decline, indicating that the main line of the current computer sector is not prominent and the institutional configuration is relatively diversified. From the top 10 of the top 10 of the top 10 of the top 10 of the market capitaliscapitaliscapitaliscapitaliscapitaliscapitaliscapitaliscapitalison on the top 10 of the top 10 of the top 10 of the market ”’top 10, which are respectively ‘ Hangzhou Hikvision Digital Technology Co.Ltd(002415) 977 . Judging from the increase or decrease of the market value of positions in the top 20, the newly added ones in 22q1 include Navinfo Co.Ltd(002405) , Iflytek Co.Ltd(002230) and Westone Information Industry Inc(002268) , and the exiting ones include Zhejiang Dahua Technology Co.Ltd(002236) , Autel Intelligent Technology Corp.Ltd(688208) , Yonyou Network Technology Co.Ltd(600588) . Judging from the top 20 funds held, the new entries in 22q1 also include Piesat Information Technology Co.Ltd(688066) and Dawning Information Industry Co.Ltd(603019) . From the sector distribution of top20, the sector distribution of top20 is seen from the sector distribution of top20, and the sector distribution of top20, which is dominated by the sector distribution of top20, and from the sector distribution of top20, the sector distribution of top 20, which mainly includes the car intelligence ( Shanghai Fortune Techgroup Co.Ltd(300493) 00496 stockmarket news, Hundsun Technologies Inc(600570) , Hithink Royalflush Information Network Co.Ltd(300033) ), medical it ( Winning Health Technology Group Co.Ltd(300253) , venture Wellcome), artificial intelligence ( Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Iflytek Co.Ltd(002230) ) Network security ( Sangfor Technologies Inc(300454) , Westone Information Industry Inc(002268) , Dbappsecurity Co.Ltd(688023) ), it infrastructure ( Inspur Electronic Information Industry Co.Ltd(000977) , Beijing Kingsoft Office Software Inc(688111) ).
Increase or decrease of holdings: we attach importance to the matching degree of growth and valuation. We measure the increase or decrease of the fund’s holdings of individual stocks by the proportion of 22q1 fund positions in the total share capital compared with 21q4. The top ten of the top ten to increase the holdings of the top ten are respectively:: Piesat Information Technology Co.Ltd(688066) 11 (+ 1.50pct), venture Huikang (+ 1.45pct), Shanghai Hollywave Electronic System Co.Ltd(688682) (+ 1.35pct). We believe that we should mainly focus on the growth and valuation matching of individual stocks.
Suggested concern
Smart cars: Huizhou Desay Sv Automotive Co.Ltd(002920) , Thunder Software Technology Co.Ltd(300496) , Navinfo Co.Ltd(002405) , Autel Intelligent Technology Corp.Ltd(688208) , Arcsoft Corporation Limited(688088) , Vanjee Technology Co.Ltd(300552) .
Industrial software: Shanghai Baosight Software Co.Ltd(600845) , Zwsoft Co.Ltd(Guangzhou)(688083) , Zhejiang Supcon Technology Co.Ltd(688777) , Guangzhou Sie Consulting Co.Ltd(300687) , Nancal Technology Co.Ltd(603859) , Digiwin Software Co.Ltd(300378) .
Basic tools: Kulun electronics, Shanghai Hollywave Electronic System Co.Ltd(688682) , Puyuan Jingdian, dingyang technology, kunhengshunwei and silinjie.
Digital Finance: Digital China Information Service Company Ltd(000555) , Sinosoft Co.Ltd(603927) , Yusys Technologies Co.Ltd(300674) , Hundsun Technologies Inc(600570) , Newland Digital Technology Co.Ltd(000997) , Zhejiang Zhengyuan Zhihui Technology Co.Ltd(300645) .
Artificial intelligence: Iflytek Co.Ltd(002230) , Hangzhou Hikvision Digital Technology Co.Ltd(002415) , Zhejiang Dahua Technology Co.Ltd(002236) , Opt Machine Vision Tech Co.Ltd(688686) , shangtang-w, Cambricon Technologies Corporation Limited(688256) .
Network security: Sangfor Technologies Inc(300454) , Dbappsecurity Co.Ltd(688023) , Venustech Group Inc(002439) , Topsec Technologies Group Inc(002212) , Qi An Xin Technology Group Inc(688561) – u, Beijing Infosec Technologies Co.Ltd(688201) .
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.
