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Insurance capital intensive survey of 197 A-share companies in the past three months

来源: 证券日报 January 9, 2020 07:15 Source: Securities Daily

Technology companies account for over 30% of the total, and gold and oil concept stocks are frequently investigated

Our reporter Su Xiangyu

Risk research, hidden passwords for institutional layout.

"Securities Daily" reporter found out the data of Oriental Fortune Chioce and found that in the last three months (October 8, 2019 to January 8, 2020), the insurance company conducted a survey of 197 A-share listed companies, of which There are 61 companies related to "technology", accounting for 31%.

It is worth noting that in the last three months of the insurance capital survey, the risk-awareness stocks represented by gold and oil frequently appeared in the survey list. The data shows that since October 8, 2019, the venture capital has investigated oil and gold concept stocks such as Hengyi Petrochemical, Zhou Dasheng, Satellite Petrochemical, Taihe New Materials, Hailide, Sanlian Hongpu and so on.

What is more noteworthy is that technology companies have become the top priority of insurance capital research. A person in charge of annuity insurance management of an insurance company told a reporter of the Securities Daily that under the environment of increasing downward pressure on the economy, the technology sector is the engine driving economic growth, and the growth potential of technology-related sectors is optimistic in the future. In the selection of individual stocks, insurance capital will still be dominated by industry leading stocks.

Venture Capital Research: Technology Stocks Are Top Priority

"Securities Daily" reporter combed the relevant data and found that in the last three months, the insurance funds surveyed a total of 197 A-share listed companies, the total number of surveys was 443, the survey industry is mainly distributed in software services, special computer equipment, communication terminals Equipment, integrated circuits, electronic equipment manufacturing, chemical raw materials, banking, liquor and other industries.

Of these 197 listed companies, 61 companies are related to "technology", accounting for 31%. According to the Dongcai industry classification, 61 companies belong to sub-sectors such as application transfer, other software services, industrial robots, other Internet services, integrated circuits, electronic components, and electronic equipment manufacturing.

In fact, since 2019, venture capital has been keen to research technology stocks. According to "Securities Daily" reporter statistics, in 2019, the total number of surveys on 24 leading technology companies by insurance capital was 287, accounting for 18% of the total number of surveys in various industries. Among them, Hikvision has conducted 73 investigations into the insurance capital, ranking first among leading technology stocks.

The ranking of the number of surveys shows that three stocks of Hikvision, Guanglianda, and Dahua Co., Ltd. have been surveyed the most in the past three months, reaching 15, 14, and 14 respectively. Individual stocks such as Zhaoyi Innovation, Qixingxingchen, Chaotu Software, GoerTek, and Huichuan Technology have also been frequently surveyed by insurance companies, and the surveys have exceeded 5 times.

The preference of risk capital for technology stocks is not only reflected in research, but also in real capital investment. Data show that in the whole year of 2019, a total of 64 insurance institutions participated in the off-line placement link of the Science and Technology Innovation Board, and a total of 2.069 billion yuan was allocated for the purchase. The funds include both insurance funds and extra-territorial funds managed by insurance institutions. Among them, Taikang Asset has participated in the "new" of the science and technology board the most, far higher than other insurance institutions. Statistics show that in 2019, Taikang Assets participated in the offline purchase of science and technology board and the total allocated funds reached 432 million yuan.

Chen Li, director of the Sichuan Financial Securities Research Institute, believes that under the current economic structural transformation, policy support for high-tech industries will continue. It is expected that in the first quarter of 2020, insurance capital will focus on high-quality growth industries. In addition, large financial blue chip stocks are relatively stable. With the continuous opening up of the financial sector, large financial may also become an important allocation direction of insurance capital.

Risk-avoidance concept: gold and oil are not allowed

In addition to the main line of technology stocks, the recent risk-averse concept stocks such as gold and petrochemicals that have attracted much market attention have also become the focus of insurance capital research, which was relatively rare in previous insurance capital research.

The survey data shows that in December 2019, Zhou Dasheng, a gold concept stock, was investigated by two insurance asset management institutions. The research content was centered on "gold lease losses and hedging ratios are reasonable" and other issues. The surveyed insurance capital institutions included Xinhua Asset Management Co., Ltd., Centennial Insurance Asset Management Co., Ltd.

Since 2019, the price of gold has continued to rise. On January 8, 2020, the spot gold price rose again, once surpassing 1,600 US dollars per ounce during the session, setting a new high since March 2013. Great Wall Securities analysis pointed out that due to the downward pressure on the global economy, it is difficult to withdraw from the negative interest rate policies in Europe and Japan, and the size of global negative interest rate bonds is expected to increase. Based on a comprehensive analysis of fundamental factors and risky event factors, it is expected that gold prices will continue to rise in 2020 with a high probability.

Tianfeng Securities also believes that over time, the expectation that the real interest rate will continue to decline is expected to gradually increase, and the risk expectation is expected to gradually rise. The price of gold is expected to rise again in 2020. Compared with the price of gold, the stock price of gold stocks is relatively stagnant. It is currently the best time to invest in gold stocks.

In addition, three petrochemical concept stocks of Hengyi Petrochemical, Satellite Petrochemical and Hailide have also been frequently investigated by insurance capital. The number of investigations by the insurance capital in the past three months has reached 9, 2 and 1 respectively.

(Responsible editor: Wei Jingting)


China Economic Network statement: Stock market information comes from cooperative media and institutions, is the author's personal opinion, is for investors' reference only, and does not constitute investment advice. Investors do so at their own risk.
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Intensive investigation of 197 A-share companies in the past three months

来源:证券日报 2020-01-09 07 : 15Source : Securities Daily
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