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The two major industries of non-bank financial and building materials received large increases in northbound funds.

Northbound funds increase their holdings in ChiNext against the market trend

According to statistics from Securities Times Databao, judging from the changes in sector shareholdings, this week (July 15 to July 19), both the Shanghai and Shenzhen main boards and the Science and Technology Innovation Board saw a reduction in holdings by northbound funds; the ChiNext saw an increase in holdings against the market trend, with the latest number of holdings increasing by 0.6% from last weekend.

On the market, the ChiNext Index showed a strong upward momentum this week, with four consecutive positive daily K-lines and a cumulative increase of 2.49%, significantly outperforming other major indices.

The strength of the ChiNext Index may be related to the improved performance expectations of its constituent stocks.According to Databao statistics, there are currently 24 ChiNext Index constituent stocks that have disclosed their performance forecasts for the first half of 2024, of which 23 stocks have forecast positive performance (including expected increase, slight increase, turnaround, etc.), and the positive performance rate is 95.83%.

From the perspective of individual stocks,New Eoptostar, Yangjie Technology, Lens Technology, Xiechuang Data, Sanhuan Group, Inovance Technology, Eastmoney7 stocks received net purchases of over 100 million yuan from northbound funds.

inNew EasyThe net purchase amount ranked first, at 259 million yuan. The company's business mainly covers a full range of optical modules for optical communication applications. It is expected to achieve a net profit attributable to shareholders of 810 million yuan to 950 million yuan in the first half of the year, a year-on-year increase of 180.89% to 229.44%. The latest number of shares held by northbound funds accounts for 4.49% of the company's outstanding shares. The stock is also favored by domestic capital. As of the end of June this year, the proportion of public funds holding shares exceeded 30%. In terms of institutional attention, 23 institutions unanimously predicted that the net profit growth rate of the stock from 2024 to 2026 will exceed 30%, and the future growth potential is good.

Northbound funds increased their holdings in two major industries

From the industry perspective, most industries were sold off by northbound funds this week. After excluding industries with the latest holdings of less than 1 billion shares, 6 industries were net bought by northbound funds this week.Among them, the two major industries of non-bank financial and building materials received large increases in northbound funds.

The non-bank financial sector received a net purchase of 600 million yuan from northbound funds, ranking first.CITIC Securities, China Merchants Securities, SDIC Capital, Orient SecuritiesThe performance of individual stocks such as etc. has achieved nine consecutive positive days.

On the news front, the frequency of "market value management" appearing in announcements released by various securities firms this year has increased significantly compared with previous years, and "market value management" has become a hot word in the securities industry.

At present, many non-bank financial analysts of securities firms pointed out in research reports that the semi-annual reports of securities firms in 2024 may be under pressure, but the following positive factors have also emerged: First, the current valuation of the securities sector continues to be at a historical low. Whether in terms of configuration cost-effectiveness or odds, the sector is at a high level, and should be given sufficient attention; Second, regulators have taken multiple measures to continuously purify the market ecology, and capital market reforms have brought opportunities for securities firms, and we need to wait patiently for policy catalysis.

From the perspective of individual stocks in the non-bank financial industry,CITIC Securities, Huatai Securities, Guotai Junan Securities, Eastmoney, China Merchants Securities5 stocks received net purchases of over 100 million yuan from northbound funds.CITIC SecuritiesThe net purchase amount ranked first, which was 313 million yuan. The latest shareholdings of northbound funds accounted for 4.24% of the company's outstanding shares.

Building materials received a net purchase of 491 million yuan from northbound funds, ranking second. China Galaxy Securities stated in its 2024 mid-term strategy report that positive changes have occurred in the building materials industry, demand recovery has accelerated, supply regulation has been strengthened, the bottom of the industry may have appeared, and the performance of leading companies is expected to recover.

From the perspective of building materials stocks,Conch Cement, Oriental Yuhong, Beijing New Building MaterialsThe net purchases of northbound funds for the three stocks exceeded RMB 100 million.Conch CementThe net purchase amount ranked first, which was 228 million yuan; the latest price-to-book ratio of the stock is only 0.73 times, the average dividend yield in the past five years is 4.7%, and the latest shareholdings of northbound funds account for 4% of the company's outstanding shares.

Significantly increased holdings in 3 stocks

According to Databao statistics, from the perspective of the change in the number of shares held, among the stocks that received net purchases of more than 100 million yuan from northbound funds this week,Xiechuang Data, Jingwang Electronics, Shengtun MiningThe latest holdings of the three stocks increased by more than 40% compared to last weekend.

Co-creation DataThe proportion of northbound funds holding shares changed by 257.43%, and the number of shares held increased from 1.1093 million shares last weekend to 3.9649 million shares. The company is oriented to AI needs, mainly including data storage devices, AIoT terminals, server remanufacturing and other products. Eight institutions unanimously predicted that its net profit growth rate from 2024 to 2026 will exceed 30%. The latest number of shares held by northbound funds accounts for 1.62% of the company's outstanding shares. As of the end of June this year, public funds held more than 5% of the stock.

Jingwang ElectronicsThe proportion of northbound funds holdings changed by 76.75%, and the number of shares held increased from 7.9154 million shares last weekend to 13.9905 million shares. The company specializes in the production and research and development of printed circuit boards. It is expected to achieve a net profit of 638 million yuan to 702 million yuan attributable to the parent company in the first half of the year, a year-on-year increase of 57.94% to 73.74%, mainly due to the improvement of market demand for electronic information products, breakthrough progress in high-end product development and key customer introduction, and significant results in cost control and efficiency improvement.

4 stocks added for 4 consecutive weeks

Half-year report performance is expected to surge stocks

Among the stocks that northbound funds have increased their holdings for four consecutive weeks, Databao screened them based on two conditions: profitability in the first half of last year and net profit growth in the first half of the year exceeding 30% year-on-year. 17 stocks emerged; among them,Adisseo, Shengyi Electronics, Jiantou Energy, China Heavy IndustryThe lower limit of the year-on-year growth in net profit in the first half of the year for the four stocks’ performance forecasts is over 100%.

Andy SuThe proportion of shareholding changes of northbound funds reached 114.93%, and the number of shares held increased from 15.1386 million shares four weeks ago to 32.5371 million shares. The number of shares held accounted for 1.21% of the outstanding shares.

The company focuses on the research and development and production of animal nutrition additives, including functional products, specialty products and other animal feed additives. It is expected to achieve a net profit of 550 million to 650 million yuan in the first half of the year, a year-on-year increase of 1546.71% to 1846.11%, mainly due to the strong growth of methionine business, rapid growth of monogastric animal products and aquatic products, and the decline in raw material and energy costs. The company has been rated by 6 institutions, and it is unanimously predicted that its net profit growth rate in this year and next year will be 1253.74% and 56.53% respectively.

Shengyi ElectronicsThe proportion of shareholding changes of northbound funds reached 113.11%, and the number of shares held increased from 3.7832 million shares four weeks ago to 8.0625 million shares. The proportion of shareholdings in the outstanding shares reached 2.61%.

The company focuses on the research and development and production of various types of printed circuit boards, mainly including communication equipment boards, network equipment boards, computer and server boards, automotive electronic boards, consumer electronic boards, industrial control and medical boards and other products. It is expected to achieve a net profit attributable to shareholders of RMB 93.5 million to RMB 110 million in the first half of the year, a year-on-year increase of 876.88% to 1049.27%, mainly due to the market demand for high-layer, high-precision, high-density and high-reliability multi-layer printed circuit boards.

Statement: All information content of Databao does not constitute investment advice. The stock market is risky and investment should be cautious.

Editor: He Yu

Proofreading: Liu Rongzhi

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