Behind the top 20 rising stocks: How do funds and large private equity investors compete?

On July 21, stimulated by the positive news of the start of the construction of a reservoir downstream of the Yajiang River, China's A-shares continued to rise. On that day, the Shanghai Composite Index closed at 3,559.79 points, hitting a new high for the year. During the session, 3,848 stocks rose, 163 stocks rose more than 9%, and more than 100 stocks hit the daily limit.

Choice data shows that as of the close on that day, since the beginning of the year, there have been 48 stocks in Beijing, Shanghai, and Shenzhen that have risen more than 200%. After excluding new stocks listed this year and ST stocks, the top 20 stocks with the highest gains this year are as follows.

Judging from the quarterly gains, these big bull stocks can be divided into four categories.

Category 1: Skyrocketed in the first quarter. There are a total of 2 stocks. One is Zhongyida (600610.SH), with a quarterly gain of 123.17%; the other is Changsheng Bearing (300718.SZ), with a quarterly gain of 117.97%. However, in terms of the explosiveness of the stock price in the first quarter, Hongjing Technology (301396.SZ) was the most impressive, rising 238.11% in that quarter.

Category 2: Started to explode in the second quarter. There are a total of 10 stocks, all with quarterly gains of more than 100%. The representative stock is Shutaishen (300204.SZ), with a quarterly gain of 419.94%. This is also the stock with the largest increase in the Beijing, Shanghai, and Shenzhen markets this year, excluding new stocks and ST stocks.

Category 3: Just exploded in the third quarter. There is only 1 stock, Shangwei New Materials (688585.SH). As of July 21, this stock has hit the 20% daily limit for 9 consecutive trading days, with a quarterly gain of 416.2%. The main business of this listed company is environmentally friendly high-performance corrosion-resistant materials. It has just announced that it will be acquired by Zhiyuan Robotics, an embodied intelligence enterprise.

Category 4: Rose steadily in the three quarters since the beginning of the year. There are a total of 7 stocks. The representative stock is Yipinhong (300723.SZ). As of July 21, the gains of this stock in the first three quarters were 49.47%, 96.55%, and 60.67% respectively, with a cumulative increase of 372.04% since the beginning of the year, ranking fourth on the list.

People in the industry know very well that behind the rise of stock prices is the game of large funds.

So, which institutions or large investors have contributed to the legendary rise of these big bull stocks? For this reason, the Company Research Office has tracked and counted the holdings of external institutions or large investors in the stocks with the highest price increases in Beijing, Shanghai, and Shenzhen since the beginning of this year.

It should be noted that since the fund holdings are still being updated, the data in the following table is as of July 20.

In addition, in order to more intuitively explain the stock price changes, according to the impact of the institutional holding changes on the stock price, this time point ranges from the end of December last year to the end of June this year, and the holding times listed for different stocks vary.

Here, let's briefly analyze the stocks whose prices are greatly affected after the entry of the main institutional investors.

Shutaishen: 50 funds jointly created a "god stock", with Yongying Pharmaceutical and E Fund Healthcare leading the way

After the first quarter of this year, the pharmaceutical market made a comeback, and Shutaishen became the most popular "pharmaceutical god" in China's A-shares.

As of the close on July 21, this stock has risen sharply for four consecutive months. The gains in April, May, June, and July were 50.63%, 145.37%, 40.68%, and 34.12% respectively. In terms of quarters, the stock skyrocketed by 419.94% in the second quarter.

The latest holding data shows that as of June 30 this year, 50 funds hold Shutaishen. Among them, among the newly entered institutions in the second quarter, Yongying Pharmaceutical Innovation Smart Selection Hybrid Initiation A and E Fund Healthcare Industry Hybrid A are on par, holding 5.971 million shares and 5.839 million shares respectively.

Shangwei New Materials: Large investors had long been lurking, and Shen Qian bought 1.3 million new shares in the first quarter

This stock was selected because it has just broken the record for consecutive 20% daily limits in the Shanghai Stock Exchange.

From February 2 to February 13, 2023, AVIC Chengfei set a record of 8 consecutive "20cm" daily limits. Now, this record has been broken by Shangwei New Materials.

As of the close on July 21, Shangwei New Materials hit the 20% daily limit again on that day, achieving 9 consecutive daily limits. Since July 9, the cumulative increase of Shangwei New Materials in this period has reached 416.20%.

The semi - annual report of the funds shows that as of June 30 this year, only 2 funds have entered this stock, and the total number of shares held is less than 100,000. On the contrary, as early as the end of the first quarter, 5 large investors entered the top 10 shareholders of this stock, among which Shen Qian held 1.3 million shares.

Due to a major asset restructuring, Shangwei New Materials suspended trading on July 1 and resumed trading on July 9, announcing its acquisition by Zhiyuan Robotics, an embodied intelligence enterprise. If the individual large investors who entered in the first quarter did not exit, they obviously bet right on this major asset restructuring.

Zhongda Lide: Multiple robot funds once jointly supported the stock price. Have Penghua Carbon Neutrality and Yongying Advanced Manufacturing withdrawn?

In the spring rally of A - shares at the beginning of this year, the artificial intelligence concept, including intelligent robots, was undoubtedly the leading sector. At that time, there were a large number of bull stocks, such as Zhongda Lide and Hongjing Technology.

If Hongjing Technology is the masterpiece of multiple products under Yongying Fund, then Zhongda Lide has benefited from the joint support of multiple robot funds. Among them, the funds with the largest holdings at the end of the first quarter were mainly: Penghua Carbon Neutrality Theme Hybrid A, holding 6.965 million shares; Yongying Advanced Manufacturing Smart Selection Hybrid Initiation A, holding 4.946 million shares; Huaxia CSI Robot ETF, holding 1.675 million shares; Qianhai Kaiyuan Jiaxin Hybrid A, holding 1.029 million shares.

However, the semi - annual report of the funds shows that Zhongda Lide has dropped out of the top 10 heavy - holding stocks of Penghua Carbon Neutrality Theme Hybrid A, Yongying Advanced Manufacturing Smart Selection Hybrid Initiation A, and Huaxia CSI Robot ETF.

It is worth noting that the stock price of this stock has rebounded recently. It is not known whether new buyers have entered.

Shenghong Technology: The PCB leader rose for three consecutive quarters, with E Fund and Ruiyuan Growth working together

Among the top 20 stocks with the highest gains since the beginning of this year, Shenghong Technology is a typical slow - bull stock, rising in all three quarters of this year. However, its most violent surge occurred in the first and second quarters, with increases of 93.13% and 66.50% respectively.

Public data shows that in the second quarter of 2024, E Fund ChiNext ETF began to enter Shenghong Technology and has been holding a large position ever since. In the first quarter of this year, Ruiyuan Growth Value Hybrid A also entered, holding 13.12 million shares, second only to E Fund ChiNext ETF.

Meanwhile, the stock price of this stock also began to soar.

In fact, Shenghong Technology has always been a heavily - held stock by funds. In each quarter in recent years, at least hundreds of funds have held it. The semi - annual report of the funds shows that as of June 30 this year, 462 funds currently hold this stock.

However, the market data shows that on July 21, 2 billion yuan of funds fled the electronics sector, and the stock price of Shenghong Technology has also fluctuated significantly recently.

In addition, according to media reports, people familiar with the matter revealed that the company is considering listing in Hong Kong, and the financing scale may reach about 1 billion US dollars. Moreover, Shenghong Technology is currently conducting a private placement. The impact of these financing activities on the company's stock price remains to be seen.

This article is from the WeChat official account "Paicaijing Official Account" (ID: paicj314), author: Paicaijing. It is reprinted by 36Kr with permission.