QFII's latest heavy holdings exposed, holding the highest market value in the banking industry
2024-08-29
With the intensive disclosure of semi annual reports by listed companies, QFII's heavy holdings at the end of the first half of the year and changes in holdings in the second quarter have surfaced. According to Wind data, as of 16:00 on August 28th, 3155 listed companies have disclosed their 2024 semi annual reports, among which 423 listed companies have QFII among their top ten circulating shareholders. In the second quarter, QFII added 175 new shares to the top ten circulating shareholders and increased its holdings of 114 shares. In terms of industry, QFII has a market value of over 17 billion yuan in the banking industry and over 9 billion yuan in the electronics industry. According to Wind data, QFII held a total of 4.065 billion shares in the 423 listed companies mentioned above by the end of the first half of 2024, with a market value of 55.977 billion yuan (calculated based on the closing price at the end of the first half of 2024). From the ranking of market value of holdings, by the end of the first half of 2024, QFII's market value of holdings in Nanjing Bank reached 17.633 billion yuan, ranking first; The market value of holdings in Shengyi Technology and Zijin Mining ranked second and third respectively, reaching 6.213 billion yuan and 2.595 billion yuan. In addition, QFII's holdings in Wanhua Chemical, Hengli Hydraulic, Bochu Electronics, Weier Shares, Focus Media, and L'Oreal all have market values exceeding 1 billion yuan, reaching 1.756 billion yuan, 1.312 billion yuan, 1.297 billion yuan, 1.184 billion yuan, 1.076 billion yuan, and 1.010 billion yuan respectively. Among the 423 QFII heavy holdings, QFII held 175 shares and entered the top ten circulating shareholder sequence in the second quarter of 2024. Among them, the market value of positions in middling coal Energy, Baoxiniao, Anhui Heli, Boya Biology, and Tiandi Technology ranked first, reaching 292 million yuan, 193 million yuan, 165 million yuan, 136 million yuan, and 135 million yuan respectively. According to Wind data, among the 423 QFII heavy holdings, QFII increased its holdings in 114 stocks in the second quarter of 2024. Among them, Nanjing Bank obtained 35.3937 million QFII shares, ranking first; Huace Testing has increased its QFII holdings by over 32 million shares, while Focus Media, Hongye Futures, and Zhuoyi Technology have all increased their QFII holdings by over 10 million shares. From the perspective of QFII shareholding, the top five stocks with the highest QFII shareholding at the end of the first half of the year were Nanjing Bank, Shengyi Technology, Focus Media, Zijin Mining, and Huace Testing, reaching 1.697 billion shares, 295 million shares, 178 million shares, 148 million shares, and 75 million shares, respectively. From the perspective of industry sector holdings, Wind data shows that among 423 QFII heavy holdings, QFII's holdings in the banking, electronics, and basic chemical industries ranked first in market value by the end of the first half of 2024, with 17.633 billion yuan, 9.352 billion yuan, and 3.648 billion yuan, respectively. In addition, QFII has a market value of over 3 billion yuan in the non-ferrous metal industry and over 2.7 billion yuan in the mechanical equipment, pharmaceutical and biological industries. According to the ranking of QFII institutions' holdings by market value, Wind data shows that BNP Paribas had the highest holdings by the end of the first half of 2024, reaching 17.755 billion yuan; Abu Dhabi Investment Authority、 Hong Kong Weihua Electronics Co., Ltd. ranks second and third in terms of market value, with a total market value of 8.017 billion yuan and 6.394 billion yuan respectively; Singapore Government Investment Limited, Kuwait Government Investment Authority, JPMorgan Securities Limited, and Goldman Sachs Group all have a market value of over 2 billion yuan. Since the third quarter, the A-share market has continued to adjust. As of August 28th, the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index have cumulatively fallen by 4.38%, 8.70%, and 9.03% respectively. Among the industry sectors, only the banking, comprehensive, and non bank financial industries have risen, with gains of 2.32%, 2.06%, and 0.71%, respectively. Regarding the current A-share market allocation, Chen Guo, Chief Strategy Officer of CITIC Securities, stated that in the short term, in addition to stable dividend assets with high winning rates and mid year reports that exceed expectations and continue to be prosperous, attention can also be paid to the direction of improvement in fundamental expectations after the mid year reports are bearish. In the medium term, we will pay attention to the changes in production capacity cycles, and the stage where enterprises bear the greatest pressure of supply and investment will gradually pass. From the perspective of A-share capital expenditures and supply cycles, the environment will be similar to that of 2012-2013. Focus on banking, power, automobile, household appliances, semiconductor chain, military industry, Internet and other industries. The current valuation of A-shares is at a historical low, the risk premium is at a high level, and corporate profits are still in the bottom grinding stage. Investors need to be patient with the pace of improvement in residents' expectations and patiently wait for incremental policy catalysis Li Lifeng, Deputy Director and Chief Strategic Analyst of Huaxi Securities Research Institute, stated that in terms of allocation, the "dumbbell shaped" strategy of "technology+dividends" is still applicable to the current A-share market. In terms of specific industry configuration, it is recommended to pay attention to electronics, electricity, operators, railways and highways, banks, etc. (New Society)
Edit：NingChangRun Responsible editor：LiaoXin
Source：China Securities Journal
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