The fund has increased its positions significantly, with the largest increase in leading positions
Overall, the coal industry received a significant increase in the fund’s attention in the first quarter of 2022, with the market value of shares held by the industry accounting for 0.69% of the market value of the fund’s shares, a significant increase of 0.44 PCT quarter on quarter, holding a market value of 41.5 billion yuan, and a quarter on quarter increase of 24.3 billion yuan, China Shenhua Energy Company Limited(601088) , Yankuang energy, Shaanxi Coal Industry Company Limited(601225) , Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Shanxi Coking Coal Energy Group Co.Ltd(000983) and other leading coal enterprises are more favored and held by the fund, and many stocks have been added, especially Pingdingshan Tianan Coal Mining Co.Ltd(601666) Shaanxi Coal Industry Company Limited(601225) , Shanxi Coking Coal Energy Group Co.Ltd(000983) , China Shenhua Energy Company Limited(601088) , Yankuang energy and other leading companies increased their positions greatly. Recently, the performance of many coal enterprises in the first quarter exceeded expectations, and the annualized valuation level of most enterprises was only 4 or 5 times, with a high safety margin; In addition, affected by the epidemic, the current demand is poor, and the epidemic will eventually be controlled. The government is expected to continue to introduce corresponding policies for steady growth, and the demand is expected to remain good; At present, it will still be the best stage to allocate coal stocks. Objects benefiting from steady performance and high dividend: Yankuang energy, China Shenhua Energy Company Limited(601088) , Shaanxi Coal Industry Company Limited(601225) , Pingdingshan Tianan Coal Mining Co.Ltd(601666) ; Objects expected to benefit from growth: Shanxi Coking Coal Energy Group Co.Ltd(000983) , Jinneng Holding Shanxi Coal Industry Co.Ltd(601001) , Guizhou Panjiang Refined Coal Co.Ltd(600395) , Huaibei Mining Holdings Co.Ltd(600985) Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) transformation beneficiaries: Power Investment energy, Gansu Jingyuan Coal Industry And Electricity Power Co.Ltd(000552) , Shan Xi Hua Yang Group New Energy Co.Ltd(600348) , Shanxi Coal International Energy Group Co.Ltd(600546) , Jinneng Science&Technology Co.Ltd(603113) , China Xuyang group (H shares); Object of benefit from debt restructuring: Wintime Energy Co.Ltd(600157) .
The coal industry gained additional positions from public funds
By the end of the first quarter of 2022, the market value of the coal industry held by the fund accounted for 0.69% of the total market value of the fund shares (year-on-year + 0.41pct, month on month + 0.44pct), and the total market value of the shares held by the fund was 41.5 billion yuan (year-on-year + 26.6 billion yuan, month on month + 24.3 billion yuan).
Leading coal enterprises are more favored by funds
China Shenhua Energy Company Limited(601088) , Yankuang energy, Shaanxi Coal Industry Company Limited(601225) , Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Shanxi Coking Coal Energy Group Co.Ltd(000983) and other leading coal enterprises are more favored by the fund \yes. In terms of the total market value of holdings, it is relatively consistent with the number of funds held, China Shenhua Energy Company Limited(601088) , Shaanxi Coal Industry Company Limited(601225) , Yankuang energy, etc.
Gain more position analysis of leading funds
The companies with the most funds in the first quarter of the first quarter that have the most funds in the most funds in the first quarter are Pingdingshan Tianan Coal Mining Co.Ltd(601666) 6666 \ , China Shenhua Energy Company Limited(601088) (Hong Kong stocks) and Jinneng Holding Shanxi Coal Industry Co.Ltd(601001) . The company with the largest position reduction is Shanxi Lanhua Sci-Tech Venture Co.Ltd(600123) , with a position reduction of 80 million shares. In addition, China Coal Energy Company Limited(601898) (Hong Kong shares), Shanxi Meijin Energy Co.Ltd(000723) , Shanghai Datun Energy Resources Co.Ltd(600508) , Jinneng Science&Technology Co.Ltd(603113) and other positions reduction shares are 69270000 shares, 19340000 shares, 7470000 shares and 5880000 shares respectively. Other positions reduction shares include Shougang resources (Hong Kong shares), China Xuyang group (Hong Kong shares), Gansu Jingyuan Coal Industry And Electricity Power Co.Ltd(000552) .
Risk tip: downside risk of economic growth, risk of epidemic impact, risk of accelerated substitution of renewable energy.
