Author | Balang
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Dear old friends, this is the monthly tracking column for institutional research, I am your little investment helper - Fengyunjun.
Against the backdrop of the overall decline of A shares , the amount of "gold" in institutions' research trends is obviously higher, and it is more worthy of investors' attention and study the fundamental performance of these listed companies.
Without further ado, let’s take a look at the institutional trends in March!
institutions "club" industrial robots, Eston and Huichuan technology are the most popular
In March, nearly 800 companies were surveyed in the market, accounting for 17% of all A-shares, and the total number of surveys exceeded 1,400 times.
Specifically for stocks , putting aside the number of institutions surveyed in a single time, the following table is obtained simply by "number of surveys":
(Source: Wind)
Eston has been surveyed by institutions the most frequently, and was surveyed 22 times in March, ranking first on the list.
As a leading domestic industrial robot company, Eston said in a survey that the company's market share of the shipment volume of China's industrial robot in 2021 was 4.4%, and domestic robot shipments were the first.
Currently, the company's robot production capacity can reach 20,000 sets per year. It is planned to complete the construction of new capacity by the end of 2022, start the capacity climb in 2023, and finally achieve 50,000 sets of production capacity.
Company adopts the " general + segmentation" strategy. Currently, the downstream key industries include emerging industries such as lithium batteries, photovoltaic , and welding applications, etc. There have been sufficient orders recently, and the company's major customer strategy is progressing smoothly. It is expected that a large order volume will be brought in 2022.
Judging from Eston's financial indicators over the years, the gross profit margin is stable between 32% and 36%.
The company said that the current priority is still to increase shipments and increase market share. When the shipments reach a certain scale, more profit margins will be obtained through the scale effect.
is followed by Huichuan Technology. The company has always been favored by institutions, with 26 and 21 surveys in February and March respectively.
At the end of February, Huichuan Technology released 2021 annual performance report , achieving a total operating income of 18.1 billion yuan for the whole year, a year-on-year increase of 57%; and achieved a net profit attributable to shareholders of 3.5 billion yuan, a year-on-year increase of 68%. The main reasons for the growth of
's performance are the growth of overall downstream demand, the effective implementation of the company's supply and guarantee delivery strategy, and the continued effect of the company's leading brands in the domestic industry, the company's general automation business, new energy vehicle business, industrial robot business, etc. have all achieved rapid growth.
Company mentioned in its survey that the rise in commodity and chip prices have put some pressure on the company's product gross profit margin. Recently, Huichuan Technology announced that starting from April 15, the price adjustments will be made to the entire industrial robot products, with the price increase ranging from 5% to 8%.
Eston and Huichuan Technology are the two largest companies with the largest number of foreign investment surveys in March, and are also the only two companies that attract hundreds of foreign investment institutions to investigate, including well-known institutions such as UBS.
(Source: Wind)
Since August 2021, the company's stock price has performed averagely, but the northbound funds did not reduce their positions during the same period and remained firmly.
As of April 8, the shareholding ratio of northbound funds was 23.7%.
(Note: the shareholding ratio is the proportion of all A-shares, derived from Choice data)
Huichuan Technology's stock price fell 10% in March. Since August 2021, Huichuan Technology's stock price has been in a downward channel, but the shareholding ratio of northbound funds has increased significantly. As of April 8, the shareholding ratio of northbound funds was 18.5%.
(Note: the shareholding ratio accounts for all A-shares, derived from Choice data)
In addition, some companies had no institutions or few institutions in February, but attracted the attention of many institutions in March, such as Yanjing Beer , Dongwei Technology, AsiaInfo Security, Dadi Bear and Yunnan Baiyao , etc.
Institutional "group" survey Zhongke Chuangda
If you simply sort by "total number of institutions surveyed", Zhongke Chuangda topped the list, with 789 research institutions in March and no institutions surveyed in February.
(Source: Wind)
shareholders who hold Zhongke Chuangda did not have a good time in March. The company's stock price fell by nearly 30% in March, and on March 4, it ended with a 19cm long-legged yin line. All this happened after the company disclosed its 2021 annual report.
Fengyunjun has analyzed the logic of the company's plunge in detail. Old men can search and enjoy it on the APP.
(Source: market value rush APP specially designed for registration system)
In the survey, in addition to the company's own smart software, smart cars, and smart Internet of Things businesses, which were paid attention to, the refinancing projects also received frequent attention from institutions.
At the same time as the annual report was released, the company also launched a private placement plan, raising 3.1 billion yuan, of which 1 billion yuan was used for the edge computing project and 900 million yuan was used to supplement working capital.
Company said that most data calculations will occur in edge computing in the next 10 years, which is a very large track and opportunity. The market size of the edge computing is expected to reach a scale of 100 billion yuan in 2026, and it has also made a complete layout in this regard and formed a complete industrial chain. The total number of
surveys ranked second and third are Rongbai Technology and Huichuan Technology. Both of them have the concept of new energy vehicles and have always been the focus of institutional research. In February, there were 266 and 398 institutions surveyed, and they are also Fengyunjun’s old friend.
(Source: Market Value Fengyun APP specially used for the registration system)
Jianghe Group has received more attention from major public institutions
The last part of
. We observe the market's preferences from different institutional perspectives such as public and private equity.
firstly, in terms of public offerings, the number of individual stocks surveyed by the fund is sorted as follows:
(Source: Wind)
list has been mentioned, let's continue to look at the attention of specific fund companies to individual stocks. The selection method of
fund companies is: after removing the market value of ETF connected fund , it is sorted by the total net asset value of stock fund of each fund company, and the required scale is more than 100 billion yuan. The specific list is as follows:
(Source: Wind)
Jianghe Group, which has the concept of BIPV (Photovoltaic construction integration), is also the first focus stock of four leading fund companies. The company's main business is divided into two major sectors: construction decoration business and medical and health business, among which medical and health business accounts for less than 5% of the revenue, and the construction decoration business is the largest part of the company's revenue.
On March 21, the company released its 2021 annual report, with revenue of 20.8 billion yuan for the whole year, a year-on-year increase of 15%, and a net profit attributable to shareholders of 1 billion yuan. The loss is mainly because of the operating risks of Evergrande Group, and the company set aside 1.859 billion yuan in various impairment losses of according to .
closed down only 0.43% the next day. In the overall performance of market , the company's stock price rose 1.6% against the wind in March, which performed very resistant to declines.
"Stable growth" is the main line of current economic development. Especially since the Financial Committee meeting on March 16, the real estate ETF has risen 32.5% as of April 8. The loose real estate policies in various places continue to increase, which is expected to drive the development of building decoration in the industrial chain.
(Source: Choice data)
At the same time, due to the energy-saving policy , photovoltaic curtain wall green buildings are considered to be the mainstream development direction of the curtain wall industry. Jianghe Group, as the leader in curtain walls, is extending and transforming into photovoltaic buildings, which is also the biggest expectation point of the market for the company at present. During the
research activity, the institution also paid more attention to the two photovoltaic curtain wall projects that the company recently won. In addition, in view of the "new buildings should be equipped with solar energy systems" regulations that will be mandatory from April 1, the company believes that this indicates that the industry trend of construction + photovoltaics will become more obvious.
Private Equity, the following is the top ten stocks with the largest number of investment institutions surveyed:
(Source: Wind, most investment institutions are private equity funds )
Private Equity Institutions focus on individual stocks and fund companies, and Gaoyi Asset is obviously more concerned about bank stocks.
(Source: Wind)
or above is the general direction of institutional research in March. I'll come here today. See you next month!
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