Media industry: the proportion of A-share allocation decreased month on month, and the asset differentiation of Hong Kong stocks was obvious

The market value of heavy positions, the number of heavy positions and over allocation proportion of A-share funds decreased month on month. In 2022q1, there were 48 listed companies in the media and Internet industry that obtained heavy positions of public funds, with a decrease of 3 compared with 2021q4, holding a total of 2.897 billion shares (qoq-21.20%), and the total market value of fund heavy positions was 48.911 billion (qoq-39.27%), accounting for 2.05% of the total market value of fund heavy positions, a decrease of 0.82pct Compared with 2021q4, the configuration ratio is reduced from 0.62% to 0.0031%.

The positions of A-share advertising and marketing, education, press and publication and game sectors increased, while the positions of Internet and film and television production decreased. As of 22q1, the top three sectors in the proportion of fund heavy position allocation are: Internet, advertising marketing and games. The proportion of heavy position allocation of Internet sector funds decreased from 60.86% in 21q4 to 5.56pct in 22q1 to 55.31%; The proportion of heavy position allocation of funds in the advertising and marketing sector increased from 17.17% in 21q4 by 0.92pct to 18.09%; The proportion of heavy position allocation of funds in the game industry increased from 10.79% in 21q4 to 3.25pct to 14.04%. The proportion of heavy position allocation of funds in the education sector increased by 0.8pct to 6.07% from 5.28% in 21q4.

The shareholding concentration of A-Shares continued to decline. The top three heavyweight stocks of 22q1 Fund A shares are China stock market news, Focus Media Information Technology Co.Ltd(002027) , Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , respectively. The total market value of the top five heavyweight stocks is 39.3 billion yuan, accounting for 80.36% of the total market value of heavy positions, down 2.07 PCT month on month The number of heavily held Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) public fund products increased by 4 to 87 on a month on month basis, and the number of heavily held shares reached 250 million shares, an increase of 32.55% on a month on month basis, accounting for 16.24% of the circulating share capital, with a market value of 5.866 billion yuan (QoQ + 15.04%); The number of Mango Excellent Media Co.Ltd(300413) public fund products with heavy positions decreased by 70 to 23 on a month on month basis, and the number of heavy positions reached 146 million shares, a month on month decrease of 7.21%, accounting for 14.32% of the circulating share capital, with a market value of 4.56 billion yuan (qoq-49.08%).

Position of Hong Kong stock Internet industry: as of 22q1, the number of heavy position companies in Hong Kong stock media Internet industry of Shanghai Hong Kong Shenzhen fund was 8, with a month on month decrease of Weimeng group and Yuhua education. Hong Kong stock media companies increased by Shanghai, Hong Kong and Shenzhen fund include Yuewen group, China Education Holdings, meituan-w, hope education, China Oriental Education and bubble Mart. Among them, the position increase of Yuewen group is the largest (the share amount of the fund is QoQ + 107884%), followed by that of China Education Holdings (the share amount of the fund is QoQ + 161.95%). 22q1 Hong Kong stock media companies that reduced the positions of Shanghai, Hong Kong and Shenzhen funds include Xinxin company (shareholding QoQ - 78.58%) and Tencent Holdings (shareholding QoQ - 15.97%).

Risk tip: the ten heavyweight stocks with tightened supervision, goodwill impairment, statistical error and quarterly report disclosure can not fully reflect the overall situation.

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