The public offering position of 2022q1 computer of public fund accounts for only 0.96% of the net value and 3.94% of the market value of stock investment, which is close to the multi-year low since 2013. From 2020q2 to 2022q1, the proportion of the computer industry of public funds in the market value of stock investment continued to decline. At present, the proportion of computer public offering positions in 2022q1 is still close to the low point since 2013. We believe that the position ratio for computers has dropped to a low level, the transaction risk is relatively low, and the medium and long-term logic is more prominent.
The current position of public funds in the computer industry is lower than the industry standard allocation proportion and is in a low allocation state. 1) As of 2022q1, the proportion of standard configuration in the computer industry was 4.45%, down 0.25 percentage points month on month. This standard proportion is roughly equivalent to the average level since 2015q1. 2) In 2022q1, the proportion of over allocation in the computer industry was about – 0.52%, roughly the same as that in the previous quarter. On the whole, the computer industry in 2022q1 is in a state of low allocation, and the over allocation is lower than that in 2020.
Heavy stock preference: the head aggregation effect remains the same, and the positions of white horse stocks such as cloud computing and digital infrastructure rise. Compared with the position of 2021q4, 2022q1 has little change. The head aggregation effect of the computer industry remains the same, and leading white horse stocks such as cloud computing, network security and AI are still favored by institutions. 1) Ranked by the value of the stock market held by the value of the stock market, 2021q1 for2021q1 in 2021, ranked by the value of the stock market held by the value ranking by the value of the stock market. The 2021q1 Winning Health Technology Group Co.Ltd(300253) \ \, Sangfor Technologies Inc(300454) , Inspur Electronic Information Industry Co.Ltd(000977) , Jindie international maintained in the list. 2) According to the quarterly position increase, there are only Ninestar Corporation(002180) , Navinfo Co.Ltd(002405) and B-Soft Co.Ltd(300451) stocks in the list of top ten heavy positions in 2021q4, which remain in the list of 2022q1, and still get a substantial position increase, while other stocks fall out of the list. Kingdee International, Iflytek Co.Ltd(002230) , Beijing Tongtech Co.Ltd(300379) , Dawning Information Industry Co.Ltd(603019) , Thunder Software Technology Co.Ltd(300496) , Piesat Information Technology Co.Ltd(688066) , Beijing Kingsoft Office Software Inc(688111) entered the 2022q1 list. It can be found that these heavy positions are mainly from racetracks such as Xinchuang, cloud computing, AI and digital infrastructure, with different degrees of differentiation in subdivided fields.
Many leading enterprises have stable performance in the first quarter, and the prosperity of the industry continues to be high. As companies have released the first quarter of 2022, the first quarter of 2022 for the year as companies have released their quarterly for 2022, the leading performance of computers in many sub sectors of the computer sector has turned into something that’s pretty good, such as the Shanghai Fortune Techgroup Co.Ltd(300493) 00496 \ \ Westone Information Industry Inc(002268) etc. These enterprises still perform well under the influence of the epidemic, which proves the company’s high moat and long-term growth stability, and confirms the sustained high prosperity of the industry.
Risk warning: there may be deviation within the allowable range in data statistics; Increased trade friction; Financial expenditure is lower than expected; The economic downturn exceeded expectations.
