Event: the data shows that the first quarterly report of public funds in 2022 has basically been disclosed.
Based on Shenwan agriculture, forestry, animal husbandry and fishery component stocks, we analyze the position and change trend of the fund's agriculture, forestry, animal husbandry and fishery sector. The statistical caliber is selected as the top ten heavy positions of active partial shares + flexible allocation funds. The standard allocation proportion is calculated as the proportion of the free circulation market value of the industry in the overall free circulation market value of a shares.
With the increase of inflation expectations, the allocation proportion of 22q1 sector increased significantly. Benefiting from the deregulation of pig production capacity, the conflict between Russia and Ukraine, the increase of inflation expectations and other factors, the defense attribute of the agricultural sector is prominent, and the allocation proportion of the 22q1 agricultural sector has increased significantly. According to wind data, the position ratio of public funds in 22q1 agriculture, forestry, animal husbandry and fishery sector was about 2.32%, up 0.91 percentage points month on month; The proportion of industry standard configuration is about 2%, and the proportion exceeding the standard is about 0.32 percentage points.
The aquaculture sector increased the most month on month, and the allocation proportion of the animal protection sector decreased slightly. According to wind data, among the secondary sub industries, the proportion of public funds allocated to the aquaculture sector was the highest, with the allocation proportion of 1.21%, an increase of 0.81 percentage points month on month; The proportion of feed sector allocation was about 0.78%, up 0.06 percentage points month on month; The allocation proportion of animal health sector was about 0.05%, with a month on month decrease of about 0.01 percentage points; Planting and Shenzhen Agricultural Products Group Co.Ltd(000061) processing sectors accounted for about 0.26% and 0.01% respectively, up 0.04 percentage points month on month and basically flat.
The heavy positions of public funds are concentrated in leading enterprises in the livestock and poultry breeding industry chain and companies related to the planting industry.
According to the data, in the allocation of public funds, the holdings of major heavy positions in 22q1 industry are concentrated in leading enterprises in livestock and poultry breeding industry chain and planting related companies. The proportion of the value of the stock market value of the stock market value held by the stock market value of the main warehouse stocks in the proportion of the market value of its fund stock investment in the market value of its fund stock investment (quarter on quarter change): Hongda Xingye Co.Ltd(002002) 714 \ (quarter on quarter on quarter change) (quarter on quarter on quarter change) (quarter on quarter on quarter change) (quarter on quarter on quarter on quarter on quarter change): ratio0.09% (+ 0.01pct), Fujian Aonong Biological Technology Group Incorporation Limited(603363) 009% (+ 0.07pct), Tecon Biology Co.Ltd(002100) 008% (+ 0.04pct), Yuan Longping High-Tech Agriculture Co.Ltd(000998) 007% (- 0.01pct), Tangrenshen Group Co.Ltd(002567) 006% (+ 0.05pct).
Investment suggestion: the excess capacity of live pigs will be gradually eliminated, and the industry profit is expected to return to the equilibrium level. It is suggested to focus on the multi-dimensional screening targets such as operation and management level, capital chain safety, marketing growth elasticity and valuation matching. It is suggested to focus on Wens Foodstuff Group Co.Ltd(300498) , Muyuan Foods Co.Ltd(002714) , New Hope Liuhe Co.Ltd(000876) etc. Continue to focus on the recommendation of feed leading enterprises. The short-term apparent performance of the company is affected by the decline of breeding business cycle. The main industry of feed and animal protection seedlings still maintains high-speed growth, and the sales growth rate is significantly ahead of the industry. The dynamic insurance sector focuses on companies with new product increment, focusing on Pulike Biological Engineering Inc(603566) , China Animal Husbandry Industry Co.Ltd(600195) , etc. The introduction of variety Approval Measures is expected to accelerate the pace of commercialization of genetically modified organisms, focusing on future traits and variety market competition pattern. It is suggested to pay attention to Syngenta, Shandong Denghai Seeds Co.Ltd(002041) , Yuan Longping High-Tech Agriculture Co.Ltd(000998) , etc.
Risk tips: sample statistical error, Shenzhen Agricultural Products Group Co.Ltd(000061) price fluctuation risk, epidemic risk, food safety, etc.
