Over 10,000 public fund research visits in the first quarter, with "Specialized, Refined, and Innovative" related stocks being the most favored

Securities Times reporter Peng Yansong

In the first quarter of this year, the A-share market fostered structural opportunities amid fluctuations, and mutual-fund institutions’ research trips continued to accelerate. According to data from the Public Fund Ranking Network, as of March 31, in the first quarter, a total of 160 mutual-fund institutions participated in research on A-share listed companies, covering 894 individual stocks across 30 industries including electronics and mechanical equipment. The total number of research visits reached 10,054 times. In terms of research focus, institutions showed greater emphasis on related stocks in “specialized, refined, distinctive, and innovative” (specialized, refined, distinctive, and innovative), suggesting that the main investment theme for the full year 2026 may revolve around industrial upgrading and self-reliance.

Looking at individual stocks, in the first quarter, the top ten most-researched stocks by mutual-fund institutions were all researched no fewer than 67 times. Dahjin Heavy Industry in the power equipment sector ranked first with 115 research visits, becoming the only stock with more than 100 research times. In addition, in the mechanical equipment sector, Jingzhida and Naipu Mining Machinery; in the automotive sector, Siling Zhizhu and Chaodjie Shares; and in the pharma and biotech sector, Aipeng Healthcare and Beiji Shenzhou were also all highly watched by mutual-fund institutions.

Worth noting is that in the first quarter, mutual-fund institutions’ attention to stocks related to “specialized, refined, distinctive, and innovative” increased significantly. Among the top ten most-researched stocks, there were 7 that were related to “specialized, refined, distinctive, and innovative”: Jingzhida, Siling Zhizhu, Haitian Ruisheng, Aipeng Healthcare, Chaodjie Shares, Naipu Mining Machinery, and Aladdin. Overall, of the 894 stocks researched by mutual-fund institutions in the first quarter, 261 were related to “specialized, refined, distinctive, and innovative,” accounting for 29.19% of the total number of researched stocks.

From an industry perspective, the three major sectors of electronics, mechanical equipment, and pharma and biotech were especially favored by mutual-fund investors. Whether in terms of the number of stocks researched or the number of research visits, they clearly led the way.

Specifically, in the electronics sector, it ranked first with 1,848 research visits and coverage of 141 stocks. Stocks such as Dongxin Shares, Juchen Shares, Inno Semiconductor, BOWAY Storage (as listed), Sunkong Shares, and Oubix Zhongguang were all researched more than 40 times, indicating the continued attention from institutions to sub-sectors such as storage and optical sensing. The mechanical equipment sector ranked second with 1,258 research visits and coverage of 112 stocks. Institutions focused on technological upgrades and order momentum in areas such as high-end equipment, industrial mother machines, and mining machinery. The pharma and biotech sector followed closely with 1,256 research visits and coverage of 84 stocks. Aipeng Healthcare, Xiangyu Medical, Xishan Technology, and Frontier Biotech became the key focus for mutual-fund institutions.

Zhang Quan, a fund manager at Sunqiao Fund, told reporters from The Securities Daily that looking ahead to 2026, continuous overseas licensing (License—out) transactions will remain an important driver for sustained upward momentum in the innovative drug sector. As the sector’s overall valuations were repaired last year, in the future, innovative drug investments will place more emphasis on stock selection and the quality of the track. Cutting-edge technical directions such as ADC (antibody-drug conjugates), bispecific antibodies (bispecific antibodies), and small interfering RNA (small-nucleic-acid) drugs will become core highlights.

In addition, in the first quarter, sectors such as power equipment, computers, and automobiles also received strong attention from mutual-fund institutions, with all research visit counts exceeding 400 times.

From the perspective of research institutions, in the first quarter, the top ten mutual-fund institutions by research visit count all completed no fewer than 161 research visits. Boshi Fund ranked as the “most diligent” institution in the first quarter with 275 research visits, receiving concentrated attention on Hua Rui Precision, Aladdin, and Haitain Ruisheng. Huaxia Fund followed closely with 229 research visits, focusing on stocks such as Chaodjie Shares, Aladdin, China Resources Micro, Puruis, and Xiangpiaopiao. In the first quarter, Fuguo Fund, E Fund, and Harvest Fund all conducted no fewer than 200 research visits, demonstrating the sustained investment by leading institutions in investment research and management.

(Editor: Wen Jing)

Keywords:

                                                            Fund
                                                            Public offering funds