Many industries are favored, private research reflects stock selection ideas

time:2022-09-29 16:14:35 source:clevelanddrifters.com author:Market analysis
Many industries are favored, private research reflects stock selection ideas

Since July, the A-share market has fluctuated and consolidated, and structural opportunities for individual stocks have emerged one after another. The frequency of research on listed companies by leading private equity institutions remains high. From the perspective of the research direction, listed companies in the electronics, power equipment, pharmaceutical biology, food and beverage industries are frequently "on the spotlight", and high prosperity and fundamental restoration have become the most important factors for many top private equity firms to choose research directions and dig deep into structural opportunities. Two grips. The research popularity has not diminished. Wind data shows that as of 15:00 on August 24, since July, a total of 43 securities and private equity institutions have conducted more than 40 research on A-share listed companies. During this period, several tens of billions of private equity firms such as Danshuiquan, Gaoyi Assets, and Tongben Investment conducted more than 70 investigations. Judging from the situation since August, the number of securities private equity institutions that have conducted more than 30 surveys has reached 10. Judging from the recent surveys of the four veteran private equity firms with tens of billions of dollars, Gaoyi Assets, Jinglin Assets, Danshuiquan, and Chongyang Investment, these four private equity firms have conducted 87, 72, and 96 surveys on listed companies since July, respectively. , 44, and the number of surveys since August was 39, 35, 49, and 20, respectively. In addition, some medium-sized private equity has also been frequently investigated since July. Data shows that many medium-sized private equity institutions such as Qingli Investment, Mingyu Assets, and Licheng Assets have conducted more than 50 investigations on listed companies since July. A person in charge of a medium-sized private equity firm said that after conducting on-site surveys on several listed companies in the consumer electronics industry in July, the agency accurately grasped a round of thematic investment opportunities in this sector in August, and the survey provided obvious support for investment returns. A number of industries have gained common attention. China Securities Journal reporters have sorted out the company information that has overlapped in Gaoyi Assets, Jinglin Assets, Danshuiquan, and Chongyang Investment since July. It is found that a total of 40 listed companies have obtained 2 billion-dollar private placements. Through joint research, the research activities of 14 listed companies have received the collective participation of 3 private equity firms worth tens of billions of dollars. In addition, there are 4 listed companies' research activities that have been jointly "supported" by 4 tens of billions of private equity companies. These 4 companies are Wen's Co., Ltd., Jereh Co., Ltd., Huadong Medicine and Hikvision. From the perspective of industry distribution, the above-mentioned four veteran private equity companies including Gao Yi Assets have investigated a total of 169 listed companies since July. (18), machinery and equipment (15), and computers (10). At the same time, there are 63 listed companies that have conducted more than two investigations in total by the four private equity firms. According to the first-level industry classification of Shenwan, the number of listed companies in the fields of medicine and biology, electronics, power equipment, computers, food and beverages ranks first; Shenwan’s secondary industry classification has a large number of listed companies in the battery, medical equipment, chemical and pharmaceutical, consumer electronics, auto parts and other industries. Guosen Securities monitoring data shows that in the first week of August, the industries with the largest number of investigations on A-share listed companies by tens of billions of private equity firms were pharmaceuticals, basic chemicals, electronics, food and beverages, with 31, 13, 13 and 13 investigations respectively. 13 times; in the second week of August, the industries with the most tens of billions of private equity investigations were electronics, food and beverage, and basic chemicals, with 43, 34 and 31 investigations respectively. The two major starting points show that in response to the recent preference for listed company research and industry investment research, Kou Zhiwei, a partner of Chongyang Investment, said that Chongyang Investment is currently relatively scattered in listed company research and actual portfolio construction, mainly including three types of listed companies: 1. It is a traditional value company with stable cash flow and high dividends; the second is a "specialized, special and new" enterprise benefiting from the new round of industrial cycle; the third is a white horse stock whose valuation has returned to a reasonable range, mainly optimistic about its performance in the next round of economic There will be stronger fundamental repair explosiveness in the up cycle. Further judging from the feedback from the current private equity industry in the research of listed companies, high prosperity and fundamental restoration have become two important starting points for the current top private equity when choosing research directions. Official Lei, deputy general manager and chief strategic investment officer of Star Stone Investment, said that the overall market is expected to continue to fluctuate, and the agency will pay more attention to industries and high-quality companies with reasonable valuations and prospects for continued prosperity in the later period in their investment research work. In addition, the fundamentals of industries that are more closely related to macroeconomic recovery are continuing to improve, and high-quality companies among them have a stronger driving force for upward stock prices. The agency will also focus on it in the survey. Ma Kewei, managing director of Mingze Investment, said that at present, the institution is continuing to focus on major high-prosperity tracks in terms of listed company research and industry investment research. In addition to popular industries such as new energy, the opportunities for low-level recovery and opportunities for prosperity in sectors such as securities companies and agriculture are also worthy of attention.

(Responsible editor:Aviation stock)

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