At the end of 2021, Contemporary Amperex Technology Co.Limited(300750) share price fluctuated sharply. In the face of “ningwang” with stock price volatility, there are obvious differences in the attitude of overseas Chinese stock funds ranking first and second in scale.
In November 2021, Allianz China A-share fund, the largest overseas Chinese equity fund, chose to reduce its holdings of Contemporary Amperex Technology Co.Limited(300750) ; Morgan Fund – China A-share opportunity a (cumulative) – RMB, which is closely followed, increased its position by 60% in December.
reduction of holdings of European Asset Management giants Contemporary Amperex Technology Co.Limited(300750)
The latest scale of Allianz China A-share fund under Allianz, a European asset management giant, is US $12.14 billion, which is the largest Chinese equity fund overseas.
According to Morningstar data, Allianz Shenzhou A-share fund slightly reduced its holdings of Contemporary Amperex Technology Co.Limited(300750) in November 2021, with a reduction range of 5.99%. After the reduction, its market value was $564 million. This is the second consecutive month that the fund has reduced its Contemporary Amperex Technology Co.Limited(300750) position. In October, Allianz reduced its Contemporary Amperex Technology Co.Limited(300750) position by 18.58%.
However, even if it is continuously reduced, Contemporary Amperex Technology Co.Limited(300750) is still the number one heavy position stock of Allianz Shenzhou A-share fund, and the market value of its position is about 1.5 times that of China stock market news, the second largest heavy position stock.
Source: Morning Star
As of November 30, 2021, the top ten heavy positions of Allianz China A-share fund are Contemporary Amperex Technology Co.Limited(300750) , China stock market news, Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) , Wuliangye Yibin Co.Ltd(000858) , Citic Securities Company Limited(600030) , China Merchants Bank Co.Ltd(600036) , Yunnan Energy New Material Co.Ltd(002812) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Midea Group Co.Ltd(000333) .
In addition to Allianz, Aberdeen standard SICAV I – China A-share equity fund also reduced its holdings of Contemporary Amperex Technology Co.Limited(300750) slightly in December 2021. In the same period, the fund also reduced its holdings of China Tourism Group Duty Free Corporation Limited(601888) , Kweichow Moutai Co.Ltd(600519) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Longi Green Energy Technology Co.Ltd(601012) , Centre Testing International Group Co.Ltd(300012) , Midea Group Co.Ltd(000333) 6 heavy positions.
the second largest overseas Chinese stock base increased its holdings
However, it is quite different from the operation of China’s largest overseas equity fund. Morgan Fund – China A-share opportunity a (cumulative) – RMB decisively increased its holdings of Contemporary Amperex Technology Co.Limited(300750) in December 2021, with an increase of 60.86%. As of December 31, 2021, the total market value of Contemporary Amperex Technology Co.Limited(300750) held by the fund reached 2.657 billion yuan, and Contemporary Amperex Technology Co.Limited(300750) also replaced Wuliangye Yibin Co.Ltd(000858) and became the number one heavy position stock of the fund.
It is noteworthy that this fund is the second largest Chinese stock base overseas. As of November 30, 2021, the scale of Morgan Fund – China A-share opportunity a (cumulative) – RMB is about US $8.122 billion, second only to Allianz Shenzhou a fund.
Source: Morning Star
the overall shareholding of foreign capital increased steadily
The operation of the two overseas Chinese funds on “ningwang” is quite opposite, which reflects their differences on the valuation of Contemporary Amperex Technology Co.Limited(300750) to a certain extent.
In fact, since the market value of Contemporary Amperex Technology Co.Limited(300750) has broken through trillions, the market has never stopped discussing its valuation bubble. Behind the sharp decline at the end of 2021, some mainland public funds withdrew.
However, from the overall data, the number of shares held by foreign institutions in Contemporary Amperex Technology Co.Limited(300750) has increased steadily, and even the recent sharp correction in share prices has failed to stop the pace of foreign positions.
According to the data, from the fourth quarter of 2021 to January 20, the number of foreign holdings of Contemporary Amperex Technology Co.Limited(300750) through Shenzhen Stock connect and QFII / rfii decreased significantly only when the stock price stopped falling and rebounded on December 10, from 241 million shares the previous day to 237 million shares. However, on the whole, the number of shares held by foreign investors has been rising, and the curve generally shows a relatively stable upward trend, breaking through 243 million shares on January 5, with a stock market value of 133.291 billion yuan.
On January 21, Cheng Xinyi, portfolio manager of equity investment clients with the theme of Swiss Baida asset management, a European asset management institution, said that it is expected that from 2025 to 2040, the rise of battery storage market, residential and commercial Cecep Solar Energy Co.Ltd(000591) and storage market of public utilities and electric vehicles will promote a significant increase in battery demand, and the prospect of global battery market is very good. Companies that provide lithium for energy storage and electric vehicles or lead in the manufacture of batteries and electronic materials will benefit from the growth of battery demand.
