According to the first quarterly report of the fund in 2022, the heavy positions of active equity funds are mainly concentrated in power equipment and new energy, medicine, electronics and food and beverage. The top three stocks are Contemporary Amperex Technology Co.Limited(300750) , Kweichow Moutai Co.Ltd(600519) and Wuxi Apptec Co.Ltd(603259) .
In terms of the future trend, 35 partial equity funds with market influence are integrated, of which 9 funds said that the A-share market will bottom under the policy of “stable growth” in the second quarter of 2022, with both structural opportunities.
Specifically, Contemporary Amperex Technology Co.Limited(300750) replaced Kweichow Moutai Co.Ltd(600519) at the end of the first quarter of this year, becoming the most heavily held stocks of funds, and entered the ranks of the top ten heavily held stocks of 1914 funds. The above funds held a total of Contemporary Amperex Technology Co.Limited(300750) 286 million shares, an increase of 260676 million shares compared with the end of last year.
Contemporary Amperex Technology Co.Limited(300750) 2021 annual performance report exceeded market expectations. The annual report shows that in 2021, the operating revenue reached 130356 billion yuan, a year-on-year increase of 159.06%; The net profit was 15.931 billion yuan, a year-on-year increase of 185.34%. But then Contemporary Amperex Technology Co.Limited(300750) announced to postpone the release of the first quarterly report of 2022 to April 30.
Kweichow Moutai Co.Ltd(600519) at the end of the first quarter of this year, it entered the top ten heavy positions of 139 public offering institutions and products of asset management of securities companies, and the number of heavy positions by institutions was the highest among individual stocks. By the end of the first quarter, e fund had the largest Kweichow Moutai Co.Ltd(600519) market value of positions, with a total market value of 21.8 billion yuan.
Kweichow Moutai Co.Ltd(600519) disclosed the first quarter report of 2022, which showed that the operating revenue in the first quarter was 32.296 billion yuan, with a year-on-year increase of 18.43%; The net profit was 17.245 billion yuan, a year-on-year increase of 23.58%.
China National Nuclear Power Co.Ltd(601985) is the stock with the largest position increase in the first quarterly report. According to the quarterly report, China National Nuclear Power Co.Ltd(601985) as of the end of the first quarter, the fund position increased by 860 million shares compared with the fourth quarter report of last year.
China National Nuclear Power Co.Ltd(601985) 2021 achieved revenue of 62.367 billion yuan, a year-on-year increase of 19.30%; The net profit was 8.038 billion yuan, a year-on-year increase of 34.07%; The gross profit margin remained high at 44%. Compared with companies in the same industry, China National Nuclear Power Co.Ltd(601985) has outstanding performance in terms of scale, strength and profitability.
Overall, under the background of the sharp adjustment of Baima shares in the first quarter, public funds were “deeply injured”.
Sealand Securities Co.Ltd(000750) statistics show that as of the first quarter of 2022, the net asset value of public funds in the whole market totaled 25.07 trillion yuan, down about 1.50% from the historical peak in the fourth quarter of 2021. The total size of public funds and non money market funds totaled 14.98 trillion yuan, a significant decrease of 1.03 trillion yuan compared with the end of the previous quarter, and there was a negative quarterly growth for the first time since the third quarter of 2018.
In terms of industry distribution, Sealand Securities Co.Ltd(000750) statistics show that in the first quarter of 2022, the heavy positions of active equity funds were mainly concentrated in power equipment, new energy, medicine, electronics, food and beverage, accounting for more than 10% of the industry, accounting for more than 50% in total. Compared with the fourth quarter of 2021, the proportion of electronic industry decreased significantly, accounting for 2.54%, and the proportion of banking, agriculture, forestry, animal husbandry and fishery increased slightly.
Compared with CSI 800 index, active equity funds have a large proportion of over allocation in power equipment and new energy, electronics, medicine, basic chemical industry, food and beverage industries, and an obvious low allocation in banking and non banking financial industries.
In the electronic sector, Boe Technology Group Co.Ltd(000725) , Luxshare Precision Industry Co.Ltd(002475) , Zhejiang Dahua Technology Co.Ltd(002236) , Goertek Inc(002241) and Chaozhou Three-Circle(Group) Co.Ltd(300408) were significantly reduced by institutions in the first quarter. At the end of the first quarter of this year, 120 funds held Boe Technology Group Co.Ltd(000725) , totaling 392 million shares, a significant decrease of 362 million shares compared with the end of the previous quarter. Guangfa technology pioneer and Guangfa Small Cap Growth managed by Liu Gesong held 182 million shares and 151 million shares respectively at the end of the last quarter. At the end of the first quarter of this year, there was no Boe Technology Group Co.Ltd(000725) , which was significantly reduced in the top ten heavy positions of the two funds.
Western Securities Co.Ltd(002673) based on the investment outlook of the head fund manager in the annual report of public funds in 2021, it is found that for the A-share market in 2022, it is generally believed that the overall trend opportunity is small and the market is mainly structured. On the whole, it is not pessimistic. It is generally believed that the adjustment at the beginning of the year makes many assets attractive in valuation. The probability of sharp rise of index level is not high, and it is more likely to be a rotating structure market.
As for the future trend, Guotai Junan Securities Co.Ltd(601211) integrated 35 partial equity funds with market influence, of which 9 funds said that the A-share market would bottom under the policy of “stable growth” in the second quarter of 2022, with structural opportunities at the same time. Although there is great downward pressure on the current economy, with the inflection point of China’s epidemic and the gradual overweight of the “stable growth” policy, the economic situation will improve marginally, and the market is expected to usher in the shock bottoming stage.
