Events
According to the disclosure rules, the information of the top ten heavy positions of public funds should be disclosed within 15 days after the end of each quarter. The top ten heavy positions of public funds in 2022q1 have been fully disclosed. This analysis is mainly based on the top ten heavy positions of chemical industry (basic chemical industry and Petrochemical Industry).
Change of position in the sector
In the basic chemical sector, the overall allocation proportion of basic chemical stocks of public funds has gradually rebounded since 2020q2. After reaching the peak in 2021q3, Q4 fell back to 5.99%. The proportion of the stock market value of basic chemicals held by 2022q1 public funds in the allocation of heavy positions rebounded slightly, reaching 6.60%, with a month on month ratio of + 0.61pcts. In the same period, the market value of basic chemical stocks in A-Shares accounted for 5.98%, with a month on month ratio of + 0.11pcts.
In the petrochemical sector, the overall allocation proportion of petrochemical stocks of public funds has increased significantly since 2020q3, and fell in 2021q4. In 2022q1, the petrochemical stock market value held by the public fund accounted for 1.05% of its heavy position shareholding allocation, with a month on month ratio of -0.02pcts, basically unchanged. In the same period, the market value of petrochemical stocks in A-Shares accounted for 2.99%, with a month on month ratio of + 0.34pcts.
In terms of the number of chemical stocks held by CITIC industry (heavy positions of public funds), the basic chemical stocks have shown an upward trend since 2019q3. A total of 162 basic chemical stocks have fund positions in 2022q1, which is different from the decentralization trend in Q4 in 21. In this period, the number of shares held and the proportion of market value of shares resumed the trend of double increase. Petrochemical stocks remained stable, with 23 stocks holding fund positions in the same period.
Analysis of individual stock changes
After summing up the market value of all the heavy positions of the funds, we get the top 50 heavy positions of the funds studied in 2022q1, Yunnan Energy New Material Co.Ltd(002812) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Qinghai Salt Lake Industry Co.Ltd(000792) , Wanhua Chemical Group Co.Ltd(600309) , Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) among which Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) replaces Rongsheng Petro Chemical Co.Ltd(002493) into the top five.
Among the top 50 heavyweight stocks held by the chemical industry, Yunnan Energy New Material Co.Ltd(002812) , Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Qinghai Salt Lake Industry Co.Ltd(000792) , Wanhua Chemical Group Co.Ltd(600309) ranked among the top five, of which Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) replaced Sailun Group Co.Ltd(601058) into the top five.
Among the top 50 heavyweight stocks held by various funds in Q1 chemical industry in 2022, Guanghui Energy Co.Ltd(600256) , Rongsheng Petro Chemical Co.Ltd(002493) , Sailun Group Co.Ltd(601058) , Inner Mongoliayuan Xing Energy Company Limited(000683) , Qinghai Salt Lake Industry Co.Ltd(000792) ranked in the top five, among which Inner Mongoliayuan Xing Energy Company Limited(000683) replaced Tongkun Group Co.Ltd(601233) into the top five.
Market preference analysis: large market capitalization leading stocks are still favored
We found that the market is still mainly optimistic about the leading stocks in the subdivided industries with large market value. According to the statistics of the stock market value of heavy positions of public funds, the market value of stocks with more than q150 billion (a total of 12) in 2022 accounted for 46.20% of the total market value of the top 50 chemical stocks. The market value of stocks with a market value of more than 30 billion accounts for more than 70% of the total market value of the top 50 chemical stocks. In terms of the number of fund products of heavy warehouse chemical stocks, there are 2545 fund products holding chemical stocks in 2022q1, of which Yunnan Energy New Material Co.Ltd(002812) is the largest, reaching 243, an increase of 57 compared with 2021q4; Other stocks held more by fund products are Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) (135 / 2545, with + 74 stocks on a month on month basis), Guangzhou Tinci Materials Technology Co.Ltd(002709) (119 / 2545, with - 3 stocks on a month on month basis), Qinghai Salt Lake Industry Co.Ltd(000792) (117 / 2545, with + 11 stocks on a month on month basis) and Wanhua Chemical Group Co.Ltd(600309) (116 / 2545, with - 17 stocks on a month on month basis).
Risk warning: risk of large fluctuation of crude oil price; Covid-19 epidemic leads to less demand than expected risk; Safety and environmental protection risks
