According to the statistics of Choice Financial Terminal, since April, there have been more than 100 A-share companies with more than 100 institutional receptions. Among them, the fields of power equipment, electronics and biomedicine have attracted the most attention.
In terms of the selection of research objects, institutions keep up with market hotspots and aim at industrial machine tools, computing power, low-altitude economy and other fields. Since April, the top three companies in terms of institutional reception volume are Huaming Equipment, Tianfu Communication and Proya, and the first two involve industrial machine tools and computing power concepts respectively. Zhang Xinyuan, head of research at Kefangde Think Tank, said in an interview with a reporter from China Securities Journal that market hotspots usually reflect the direction of investment, and institutions follow market hotspots closely to better grasp investment opportunities.
Market hotspots are sought after
The Ministry of Industry and Information Technology and other seven departments recently jointly issued the "Implementation Plan for Promoting the Renewal of Equipment in the Industrial Field", which proposes to focus on promoting the industrial machine tool industry to update machine tools that have been in service for more than 10 years. Industry insiders expect that the machine tool industry will carry out renewal actions, and it is expected that by the end of 2027, there will be a total of 100 billion new market demand.
Since April, nearly 500 institutions have visited Huaming Equipment for investigation. Huaming Equipment has an annual production capacity of 1,000 sets of special CNC machine tools. In 2023, the company's CNC equipment business will achieve operating income of 162 million yuan, a year-on-year increase of 7.69%. Huaming Equipment said in the communication with the institution that in terms of CNC equipment business, the company will try to take the road of differentiated competition, introduce new teams and technologies, develop composite products with a higher degree of customization, and enhance competitiveness.
Tianfu Communication is an industry-leading provider of overall optical device solutions and advanced optical packaging manufacturing services, and its products are mainly used in data centers, telecommunications markets and optical fiber connections. The accelerated development of artificial intelligence and the increase in the demand for computing power have promoted the development of the optical device market. Tianfu Communication said that it will continue to maintain high-intensity R&D investment, pay attention to the development of cutting-edge technologies, cooperate with customers in the research and development of new products, and help customers reduce costs while striving for orders.
Huadong Medicine and Aimeike, two weight loss concept companies, have become the focus of the institution's research. Huadong Medicine's liraglutide injection was approved for marketing for the treatment of adults with type 2 diabetes, obesity or overweight, and is the first liraglutide biosimilar approved for marketing in China. Huadong Medicine said that the company's liraglutide injection has a good sales momentum since its launch, and the sales of the product will meet expectations in 2023, and the sales volume of the product is expected to increase significantly in 2024. On the basis of cooperating with Peptide Biology to introduce semaglutide products, Aimeike holds 4.89% equity of Peptide Biology with a total investment of 50 million yuan. Peptide Biotech has rich experience in peptide drug research and development, has formed a pipeline matrix around GLP-1 analogues, and has the ability to continue to innovate and iterate.
Small and medium-sized companies are favored
Since April, among the top 20 listed companies in terms of the number of reception institutions, there are 3 companies with a market value of less than 10 billion yuan, 9 companies with a market value of 10 billion yuan to 30 billion yuan, and only 3 companies with a market value of more than 100 billion yuan.
"Small and mid-cap companies are generally more flexible and innovative, with greater growth potential, so they are attracting the attention of institutions," Zhang said. ”
The market value of Huate Gas is only 5.874 billion yuan, and it has attracted more than 270 institutions to investigate since April. The company has four lithography products and has passed ASML and GIGAPHOTON certification.
CTI is a low-altitude economic concept company, with more than 400 institutional research companies since April. The company has successively set up laboratories in Shenzhen, Guangzhou, Shanghai, Suzhou, Tianjin and other places, which can provide environmental reliability testing, electromagnetic compatibility testing, hazardous substance testing and failure analysis, component strength testing, material performance testing and other services for civil manned and unmanned aerial vehicles.
Among the top 20 listed companies in terms of the number of reception institutions since April, Hikvision, Zhongji Innolight, and BOE A have a market value of more than 100 billion yuan. Hikvision has formed three major technology systems: IoT perception technology, artificial intelligence technology, and big data technology. As early as 2006, Hikvision set up an algorithm team and began to lay out artificial intelligence technology. In 2021, Hikvision launched the R&D work related to large-scale pre-trained models, and then launched the Hikvision Guanlan large model.
The progress of Hikvision's large-scale model business has attracted the attention of institutions. According to the company, in the face of users in different industries, Hikvision has generated more than 100,000 models on the AI open platform and landed in more than 20,000 projects, forming a strategy for the different needs of thousands of industries.
Some companies have performed well
Since April, the top 20 listed companies in terms of the number of reception institutions have all made profits in 2023, and only 4 companies have experienced a decline in performance.
As for the reasons why institutions favor companies with performance growth, Wanlian Securities Investment Consultant Qu Fang believes: "First of all, performance growth may mean that the penetration rate of corporate products increases. The company's performance has not been shown for the time being, and the institution may pay more attention to its future growth, including market share, product technology roadmap, and the company's management's strategic thinking. ”
Thanks to the rising prosperity of the power equipment industry, Huaming Equipment's operating income and net profit in 2023 will reach a record high. In 2023, the company achieved operating income of 1.961 billion yuan, a year-on-year increase of 14.57%, and net profit attributable to shareholders of listed companies of 542 million yuan, a year-on-year increase of 50.90%. In the first quarter of this year, the company's performance continued to maintain a growth trend, achieving operating income of 451 million yuan, a year-on-year increase of 9.40%, and net profit attributable to shareholders of listed companies of 127 million yuan, a year-on-year increase of 7.59%.
Aohua Endoscopy is mainly engaged in the research and development, production and sales of electronic endoscopic equipment and endoscopic diagnosis and treatment surgical consumables. The company actively lays out the marketing network at home and abroad, broadens the coverage of hospitals of all levels, and improves the brand influence in an all-round way. In 2023, the company achieved operating income of 678 million yuan, a year-on-year increase of 52.29%, and net profit attributable to shareholders of listed companies of 57.8544 million yuan, a year-on-year increase of 167.04%. The outstanding performance has attracted nearly 300 institutions to visit the company since April.
BOE A is a global leader in the field of semiconductor display and an innovative enterprise in the field of Internet of Things. In 2023, the company's revenue and net profit attributable to the parent company will both decline. However, the company expects net profit attributable to shareholders of listed companies in the first quarter of this year to be 800 million yuan to 1 billion yuan, a year-on-year increase of 223% to 304%. As for the reasons for the change in performance, the company said that thanks to the good supply pattern and the early release of downstream demand, the industry's prosperity has rebounded significantly. In 2024, the company will unswervingly implement the business strategy of "focusing on the main business and high-quality development", and further deepen the action plan of "extreme cost and efficiency improvement".