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Securities Times reporter Liang Qiangang

The social security fund has always been known for its prudent investment style. As listed companies gradually disclose their semi-annual reports, the stocks it holds are gradually coming to light. By the end of the second quarter, 58 companies had holdings from the social security fund with a market value of more than 100 million yuan.

The social security fund's major holdings are revealed

According to statistics from Securities Times Databao, as of August 17, the social security fund appeared in the list of the top ten circulating shareholders of 96 companies, with a total holding value of 25.226 billion yuan at the end of the second quarter.

By industry, the social security fund's holdings in the communications, basic chemicals, and power equipment industries ranked in the top three in terms of market value, with holdings of more than 2 billion yuan each.

Which companies are most favored by the social security fund? According to Databao statistics, 58 companies have holdings with a market value of more than 100 million yuan by the social security fund, among which Wanhua Chemical, Focus Media, China Mobile, ZTE, and Pengding Holdings have holdings with a market value of more than 1 billion yuan, ranking the top five.

Wanhua Chemical ranks first with a market value of 1.682 billion yuan in social security fund holdings. In the second quarter, the social security fund increased its holdings of the company's shares by 500,000 shares. The company's main businesses include polyurethane business, petrochemical business, fine chemicals and new materials business. In the first half of this year, with the technical transformation and expansion of Fujian MDI unit, the increase in effective capacity of TDI unit, and the commissioning of Yantai polyether new unit, the production and sales of the company's main products achieved year-on-year growth.

In terms of holding ratio, the top five companies with the highest proportion of social security fund holdings in the total outstanding shares are Nova Nebula, Fuling Electric Power, Hitech Xinguang, Changhong Meiling, and Huawang Technology.

Nova Nebula has the largest proportion of holdings by the social security fund. In the second quarter, the social security fund entered the top ten circulating shareholders of the company and ranked first, with a holding ratio of 6.05% at the end of the period. In addition to the social security fund, the top ten circulating shareholders of the company also have a large number of funds, such as Minsheng Jiayin Sustainable Growth Hybrid Fund, Bank of Communications Schroder Advanced Manufacturing Hybrid Fund, and China Universal Digital Future Hybrid Fund. In the first half of this year, the company achieved a net profit of 324 million yuan, a year-on-year increase of 37.69%.

Compared with the end of the previous quarter, the number of shares held by the social security fund increased by more than 10 million shares in four companies, namely Xinji Energy, Focus Media, Baoxiniao, and Sumec. 17 companies were newly included in the list of the top ten circulating shareholders of the social security fund, of which 7 companies had holdings with a market value of more than 100 million yuan by the social security fund at the end of the second quarter, namely China Mobile, Weixing Shares, Satellite Chemistry, Shanghai Airport, Shenghong Technology, Nova Nebula, and Zhuhai Guanyu.

26 companies received social security funds

Held for more than 8 quarters

According to Databao statistics, there are 26 companies in which the social security fund has held shares for more than 8 consecutive quarters (appeared in the top ten circulating shareholders for 8 consecutive quarters).

Jack shares have the longest holding period, with a total of 24 quarters. The company's main business is the research and development, production and sales of industrial sewing machinery. It has more than 300 global electronic control independent service certification outlets, covering all core markets. Since its listing in 2017, except for 2019, the net profit of the remaining years has increased. In the first half of this year, the company achieved a net profit of 417 million yuan, a year-on-year increase of 53.99%.

Amoy Biotech has been held by the social security fund for 22 quarters. As of the end of the second quarter of this year, the social security fund held 1.44% of its shares. The company has been deeply involved in the field of tumor gene detection for a long time. According to the company's semi-annual report, the company has independently developed and approved 27 tumor gene detection products in China. It is a leading company with the most complete product categories in the industry, and many of its products are still the only approved products in China. The company also went public in 2017. Its net profit increased continuously from 2017 to 2022, and its net profit declined slightly in 2023. Its net profit in the first half of this year increased by 13.49% year-on-year.

Xingyu shares have been held by the social security fund for 21 quarters. At the end of the second quarter, two social security fund portfolios appeared, with a total holding value of 774 million yuan. In addition to the social security fund, China Life Insurance and E Fund's funds are heavily invested in the company. The company focuses on the design, development, manufacturing and sales of automotive lights. Its customers include Ideal Auto, NIO, Xpeng Motors and an internationally renowned new energy vehicle company. In the first half of this year, the company achieved a net profit of 594 million yuan, a year-on-year increase of 27.34%.

Overall stock price performance is flat

Judging from the performance of the secondary market, the overall trend of the above 26 companies in which the social security fund has long held shares is flat. According to Databao statistics, as of the close of August 16, these companies have fallen by an average of 9.34% this year, underperforming the Shanghai Composite Index by more than 6 percentage points during the same period. The share prices of five companies, including Pengding Holdings, Zoli Pharmaceutical, Zhenhua Shares, Jack Shares, and Xinjie Energy, have risen against the trend, with a cumulative increase of more than 10% this year.

In terms of valuation level, as of the close of August 16, the rolling P/E ratios of 11 companies were less than 20 times.

Baoxiniao's rolling P/E ratio is 8.97 times, ranking the lowest. The company is a leading domestic mid-to-high-end men's clothing brand. During the second quarter, the social security fund increased its holdings by 21.5161 million shares, with a market value of 188 million yuan at the end of the period. Since the beginning of this year, Baoxiniao's stock price has fallen by 28.32%.