Recently, since the number of shares held by Haijiya Medical accounts for more than 5% of the company's issued voting shares, E Fund Fund disclosed its shareholding details on the Hong Kong Stock Exchange: As of September 22, E Fund Fund held 37.2722 million shares of Haijiya Med

, GF Fund joined the group " Sunshine Power ", and later, Nuoan Fund "raised a bid" Zhuo Shengwei. This time, E Fund raised 2 Hong Kong stock . Since the second half of 2022, there have been more and more cases of concentrated holdings of public funds. Recently, since the number of shares held by Haijiya Medical (06078.HK) accounts for more than 5% of the company's issued voting shares, E Fund Fund disclosed its shareholding details on the Hong Kong Stock Exchange: As of September 22, E Fund Fund held 37.2722 million shares of Haijiya Medical, accounting for 6.04%.

In fact, E Fund holds more than 5% of the shares of stock is not just Haijiya Medical. According to data from the Hong Kong Stock Exchange, as of September 27, E Fund was also the major shareholder of Rongchang Bio-B (09995.HK), holding 6.16% of the shares. At the beginning of the year, it was also the major shareholder of Great Wall Motors (2333.HK), but it insisted at the end of the first quarter, and the last record showed that it held 4.95% of the shares.

E Fund has 2 pharmaceutical stocks in a row

Entering late September, E Fund Fund disclosed on the Hong Kong Stock Exchange to become the major shareholder of two pharmaceutical stocks. Among them, on September 22, E Fund held 37.2722 million shares of Haijiya Medical; 11.6867 million shares of Rongchang Bio-B, accounting for 6.04% and 6.16% respectively. The specific products may be seen from the fund's annual interim report.

Wind data shows that as of June 30, 2022, E Fund fund manager Chen Hao was in charge of three funds: E Fund Hong Kong Stock Connect Growth A, E Fund Innovation Future, and E Fund Balanced Growth, respectively, holding 4.54 million shares, 4.2354 million shares and 4.1408 million shares of Haijiya Medical, respectively, with the cumulative proportion of the three being 2.09%.

In addition, E Fund fund manager Zhang Kun , which is under management, holds 5.5 million shares, E Fund Asia Selection holds 1.2 million shares, E Fund Quality Enterprise holds 800,000 shares in three years; E Fund Quality Selection 2 million shares; E Fund Pharmaceutical Bio-A managed by Yang Zhenxiao holds 1.063 million shares. It can be seen that in the first half of the year, the above products have accumulated 23.4792 million shares of Haijiya Medical, accounting for 3.8%.

sorting out the fund periodic report, we can see that the cumulative 9.5 million shares of the four products under Zhang Kun’s management were purchased in the first half of this year, and the three products under Chen Hao’s management also increased by nearly 8 million shares during the same period. After entering the third quarter, on September 14, E Fund held 30.9746 million shares, accounting for 5.02% of the issued voting shares, realizing the "trading". Within the following 8 days, another 6.2976 million shares were bought, with the proportion increasing to 6.04%. It can be seen that in the third quarter, E Fund purchased the stock in a very high amount of time that it is likely to exceed 10 million shares.

For some E Fund products to buy Haijiya Medical in large quantities this year, the answer may be found in the interim report. Chen Hao said that during the market adjustment process in the first half of the year, the portfolio was further optimized and concentrated, especially when the market fell in a panic in mid-to-late March, he firmly increased his holdings in high-quality companies in the Internet, medical services and other industries, and gradually replaced some value stocks with stable returns with higher elastic growth stocks, so he performed well in the rebound in the second quarter. Zhang Kun also said that the structure in the first half of the year has been adjusted, the allocation of pharmaceuticals and other industries has been increased, and the allocation of technology and other industries has been reduced.

Rongchang Bio-B's share price hit a new high, E Fund held a stake in

In Rongchang Bio-B, E Fund disclosed its shareholding details as a major shareholder for the first time on March 23 this year, accounting for just 5%. On May 20, the number of shares held by E Fund Fund decreased by 165,500 shares to 9.3192 million shares compared with the previous one.

According to incomplete statistics from Nanduwan Finance, as of June 30, the products that have heavily invested in this stock include E Fund Pharmaceutical Biologics A: it holds 2.3335 million shares. At the same time, the product fund manager Yang Zhenxiao is in charge of another fund: E Fund Healthcare interim report shows that it holds 1.6848 million shares.

E Fund Blue Chip Selection managed by Zhang Kun cleared the stock in the first half of the year, with a cumulative selling amount of 5.0267 million yuan. On May 20, E Fund disclosed on the Hong Kong Stock Exchange that 's holdings in decreased by 165,500 shares. If calculated based on the closing price of the stock on the day of the day, the market value of the asset is about 4 million yuan, which is close to the transaction volume of the stock sold by Zhang Kun.

Rongchang Bio-B officially landed on the Hong Kong Stock Exchange in November 2020. After entering the second quarter of this year, the stock price broke the issue price and continued to hit a low, reaching a low on May 10, with a closing price of HK$26 per share on the day.However, in the third quarter after E Fund reduced its holdings in Rongchang Bio-B, the stock price ushered in a sharp rebound, reaching a temporary high of HK$56.75 per share on July 6. On July 8, two days later, E Fund disclosed on the Hong Kong Stock Exchange that the number of shares held increased by 360,500 shares, reaching 9.6797 million shares, and once again raised the stock, accounting for 5.11%.

on stock price?

Public funds have staked listed companies in recent times and have attracted much attention from the market, but historical data shows that this move may not be uncommon. At the beginning of this year, E Fund was also the major shareholder of Great Wall Motors. In a year ahead, E Fund Fund was once the major shareholder of the three Hong Kong stocks, Kingdee International, Jinxin Bio, and Qingdao Beer . Judging from various signs, as a "financial management" institution, public funds have different leasing a listed company than strategic investment in the ordinary sense, and are more about pursuing investment returns.

Since E Fund disclosed its holdings of Haijiya Medical on September 22, on Monday, September 26, the share price of Haijiya Medical rose by 4.56%. On September 27, its share price rose by 8.83%, closing at HK$48.7 per share, with a cumulative increase of 13.79% in two days, and the trading volume has increased. On September 28, opened , and the stock's rise has not diminished. As of the midday closing, it was at HK$49.9 per share, an increase of 2.46%, and the cumulative increase of more than 16% in the past three trading days.

After Nuoan Fund "raised its bid" for Zhuoshengwei, the stock also achieved a 2-day consecutive rise. On the morning of September 14, after Zhuo Shengwei announced, its stock price rose 5.84% on the same day and closed at 100.65 yuan per share. The next day, it rose by 3.28%, and the trading volume continued to increase. However, in the following days, Zhuo Shengwei walked out of four negative lines in a row, erasing the increase of Nuoan Fund after "raising the leasing".

Haijiya Medical is a domestic private tumor medical service group and was listed on the Hong Kong stock market in June 2020. As of the end of the first half of 2022, the company managed or operated 12 hospitals with Oncology Department as the core, and provided services to 22 third-party hospital partners for its radiotherapy centers. At the same time, the company achieved revenue of 1.526 billion yuan, a year-on-year increase of 63.8%; attributable net profit of 224 million yuan, a year-on-year increase of 13.5%.

's performance is improving, but the stock price of Haijiya Medical hit a historical low in the first half of the year. The current stock has been cut in half compared with the middle of last year. However, the current stock price has achieved a significant rebound compared with the end of the first quarter. In fact, since the pharmaceutical industry adjusted in the third quarter of 2021, CSI Pharmaceutical's decline has approached 50%. On September 27, many indexes in the pharmaceutical sector suddenly rose sharply. CSI Pharmaceutical rose 5.11%, CSI Pharmaceuticals Index rose 4.84%, and CSI Healthcare Index rose 5.95%.

Boshi Fund analysis believes that on the 26th, according to the National Health Commission news, during the 14th Five-Year Plan period, the country will support the construction of about 120 provincial regional medical centers in various places, promote the extension of high-quality medical resources to the people, and minimize the number of medical treatment in other places. The planning and layout of provincial regional medical centers will be basically completed by the end of this year and the construction of related projects will be started. In addition, the early adjustment of dental implant prices was better than expected, and the centralized procurement of innovative medical devices will reasonably determine the volume ratio based on relevant factors. Boosted by the favorable policies, the pharmaceutical sector rose sharply on the 27th. Wan Minyuan, fund manager of Rongtong Health Industry, believes that in the process of continuous adjustment of the pharmaceutical industry, the fundamentals of companies affected by the epidemic have been impacted, resulting in particularly low valuations. When the post-epidemic repair logic appears, coupled with the fundamentals improving, the valuation elasticity will be particularly large, so the safety margins of these companies are good enough, and there will be relatively good returns from the current position.

Regarding investment advice in the future, Guojin Securities believes that the stock price performance of the medical sector will continue to be weak in 2022, and some leading sectors and enterprises with strong performance in the early stage have sudden and large-scale rapid adjustments. The above phenomenon is more due to market and capital reasons rather than fundamental reasons. From a fundamental perspective, the operations of the medical sector have been improving recently. It is expected that the third quarter report will show a moderate recovery trend, and it is expected that the recovery will be further accelerated in the fourth quarter and the first half of next year.Considering valuation switching and operation improvement, the current medical sector target layout value is outstanding.

edited and written by: Nanduwan Finance Society reporter Ye Linfang