2023-04-28 22:01:49
From the perspective of market value, China Life Insurance and Ping An Bank have the largest market value of insurance funds, with 643.28 billion yuan and 142.327 billion yuan respectively. The market value of insurance capital holdings exceeded 10 billion yuan.
According to data from Oriental Wealth Choice, as of the close of April 28, a total of 3,909 listed companies in the A-share market have disclosed their first-quarter reports for 2023. Among them, insurance capital appeared among the top ten shareholders of 407 companies, holding a total of 52.622 billion shares, with a cumulative market value of 1,054.126 billion yuan.
Liu Yan, chairman of Anjue Assets, told the “Securities Daily” reporter: “Insurance capital, as a long-term investor, pays attention to value investment, and usually chooses companies with stable profits and good fundamentals as investment targets. Relatively speaking, among major institutions Among them, insurance capital pays more attention to risk control and asset-liability matching, pays more attention to capital preservation and stability, and is more cautious regarding participating in equity investment.”
From the perspective of the number of shares held, in the first quarter of this year, China Life Insurance and Ping An Bank received the largest number of insurance capital holdings, with 19.324 billion shares and 11.359 billion shares respectively. In addition, China Unicom, Huaxia Bank, Postal Savings Bank of China, China Merchants Bank, and Yangtze River Electric Power have obtained more than 1 billion shares from insurance funds.
From the perspective of market value, China Life Insurance and Ping An Bank have the largest market value of insurance funds, with 643.28 billion yuan and 142.327 billion yuan respectively. The market value of insurance capital holdings exceeded 10 billion yuan.
Judging from the changes in positions, in the first quarter of this year, insurance funds newly increased their holdings of 225 stocks. In terms of new shares, 131 stocks received new investment from insurance funds, accounting for 32.19% of the total number of stocks held by insurance funds at the end of the first quarter. Incoming positions exceeded 40 million shares. In terms of increased holdings, 94 stocks were increased by insurance funds in the first quarter. Among them, China State Construction, Wuxi Bank, Poly Development, Tianshan Aluminum, Pinggao Electric and other stocks have increased their holdings by more than 20 million shares. In addition, the position of insurance capital on 88 individual stocks has not changed. The top five positions are China Life, China Unicom, Huaxia Bank, Jingneng Electric Power, and Aluminum Corporation of China.
From an industry perspective, insurance funds hold the largest number of stocks in the five major industries of electronics, mechanical equipment, electrical equipment, basic chemicals, and pharmaceuticals and biology, with 48, 39, 35, 34, and 30 stocks respectively. As of the end of 2022, the top five industries with the largest number of stocks held by insurance funds are power equipment, electronics, pharmaceutical biology, basic chemical industry, and mechanical equipment. Through comparison, it can be found that in the first quarter of this year, the importance of companies in the electronics and mechanical equipment industries to insurance funds has increased.
Liu Youhua, deputy director of the wealth research department of Paipai.com, told the “Securities Daily” reporter: “There are three main reasons for the increase in insurance capital’s holdings of mechanical equipment and electronics stocks: First, with the continued economic recovery and the advancement of the wave of artificial intelligence, it is expected to increase. The demand of the above two industries, so there is an expectation of performance recovery; second, the demand of the above industries will be suppressed in 2022, and the valuation is at a low position, with a sufficient margin of safety; third, the localization process of the mechanical equipment and electronic industries is accelerating With the advancement, the future growth space of the industry is expected to be gradually opened up.”
Regarding the changes in the industry in which insurance capital holds shares in the first quarter of this year, Liu Yan said: “The mechanical equipment and electronics industries have experienced a low tide period, and in the context of the current recovery of the global manufacturing industry, coupled with policy support for industries such as technological innovation and smart manufacturing It has the potential of high recovery growth and substantial profit growth, and it can be said that it already has the basic conditions for a reversal of the predicament, so it is considered to be a very attractive potential investment opportunity.”
Insurance capital holdings gave a good answer in terms of performance. In the first quarter, 211 companies achieved a year-on-year increase in net profit attributable to shareholders of the parent company, accounting for more than 50%. Among them, the net profit attributable to shareholders of the parent company of companies such as Babi Foods, Zhongke Jiangnan, and Shanwaishan all increased by more than 50 times year-on-year in the first quarter.
Wu Qihong, chief researcher of Guangzhou Wanlong Securities Consulting Co., Ltd., told the “Securities Daily” reporter: “Because the insurance capital itself has certain financial management attributes, in addition to performance, insurance capital also values high dividends and high dividend rate indicators. From a Looking at the quarterly insurance capital holdings, we have also made layouts for some industries whose current valuations are at a low level and are expected to usher in a reversal of difficulties in the future.”
Yao Yao, the author of this article, comes from“Securities Daily”the original title: “In the first quarter, insurance funds held 407 stocks with over 50% net profit growth year-on-year”
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