During the market's reassessment of industry sectors and stock selection opportunities, public fund research activity has notably accelerated. Data from PaiPai.com reveals that in July, 152 public fund institutions participated in A-share research, covering 400 stocks across 94 Shenwan secondary industries, with a total of 3,280 research visits, a 16.39% increase from the previous month. These research dynamics not only reflect public funds' close tracking of industry prosperity and corporate earnings performance but also serve as a key reference for observing the mid- to long-term allocation strategies of professional capital.
At the industry level, public fund institutions conducted over 100 research visits across eight Shenwan secondary industries in July. Specifically, the semiconductor sector was the most favored, with public funds researching 31 stocks in that industry, totaling 433 visits. The communication equipment sector ranked second, with related stocks receiving 312 research visits. Other sectors, including optical optoelectronics, components, general equipment, medical devices, and consumer electronics, also saw over 100 research visits from public funds.
At the stock level, 106 stocks received 10 or more research visits from public funds. Communication equipment stocks Zhongji Innolight and Eoptolink Technology garnered the highest attention, with 158 and 118 visits, respectively. Semiconductor stocks like Yuanjie Technology and Montage Technology also saw frequent research activity. Regarding research content, institutional investors focused heavily on business development, market supply-demand dynamics, and competitive landscapes. For example, investors inquired about Zhongji Innolight's new product applications, material supply conditions, and future profit expectations, while Eoptolink Technology was questioned about its second-quarter profit growth drivers, progress in CPO (Co-Packaged Optics) technologies, capital expenditure plans for the next two years, and key capacity challenges.
Among leading public fund institutions, the top 10 research-active firms in July saw Fullgoal Fund conduct the most research visits, with 84. Its research targets included nine semiconductor stocks, such as Liandong Technology, Fudan Microelectronics, China Resources Microelectronics, Montage Technology, Shenzhen Zhongying Electronics, Yuanjie Technology, Hengyunchang, Zhongke Bluetron, and GigaDevice. Southern Fund and Harvest Fund followed closely with 79 and 75 visits, respectively. Other institutions, including Guotai AMC, China Asset Management, Bosera Asset Management, China Merchants Fund, Fullgoal Fund (likely a repeat due to data overlap), Invesco Great Wall Fund, and Ping An Fund, also conducted over 50 visits each.
Overall, AI (Artificial Intelligence) emerged as a key thematic focus in this round of public fund research, with related stocks frequently appearing on research lists. According to industry experts, the development prospects of the AI technology revolution hold high certainty, and investors can consider high-quality tech leaders during market dips. Yang Delong, Chief Economist and Fund Manager at First Seafront Fund, noted, "The tech sector previously experienced a broad rally, but after this correction, it may diverge. Stocks with strong half-year reports, stable orders, and long-term growth potential remain worth watching." Long Jiangwei, Fund Manager of the Hengsheng Qianhai Advanced Manufacturing Hybrid Fund, added, "The long-term logic for AI development remains intact. After the adjustment, high-quality tech growth stocks with reasonable valuations may offer more attractive entry points. We remain bullish on the AI supply chain, focusing on high-growth areas like semiconductor equipment, optical communication, and storage. Currently, core AI companies are delivering on revenue and profit, with industrial progress exceeding expectations. Meanwhile, investment opportunities have expanded from computing and networking to storage and power, further extending to analog chips, power chips, and other hardware. The investment logic is shifting from sentiment-driven speculation to structural opportunities driven by capacity constraints."
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