Increase the allocation of high-dividend stocks in the fourth quarter, November insurance capital intensively research more than 100 individual stocks.

Since November, although the number of on-site investigations by insurance funds on listed companies has decreased compared to the same period last year, the enthusiasm for investigations remains high. According to statistics, since November, insurance funds (insurance companies and insurance asset management companies) have conducted a total of 348 investigations on listed companies, with over a hundred stocks being eagerly investigated. An investment manager from an insurance company told a reporter from Caixin that since the fourth quarter, the company has mainly increased its allocation of high dividend stocks. At the same time, they have also strengthened their investment research in areas aligned with the country's major strategic directions, such as new productive forces, high-end manufacturing, artificial intelligence, digital economy, and biopharmaceuticals. "We respond to the call for insurance funds to enter the market, continuously optimize the asset allocation structure, and increase the allocation of high-quality defensive assets that can resist the challenges of low interest rates," a person from a large insurance company told a reporter from Caixin. Looking at the investigation situation of insurance funds since November, BEONE MEDICINES (688235.SH), Shenzhen Inovance Technology (300124.SZ), and Luxshare Precision Industry have attracted high attention, with over 20 insurance funds conducting investigations. In addition, Taikang Asset Management and Sunshine Asset Management have also shown considerable enthusiasm for investigations, with each conducting over 15 investigations. In terms of the industry of the listed companies being investigated, the number of stocks belonging to the integrated circuit and electronic components industries is the highest. Daily average investigations exceed 10 stocks Taikang Asset Management and Sunshine Asset Management show high enthusiasm for investigations According to Wind statistics, since November, there have been a total of 348 investigations conducted by insurance funds, a decrease compared to the same period last year. A total of 51 insurance companies and 27 insurance asset management companies participated in the investigations, with 126 stocks being investigated. Insurance funds investigate an average of more than 10 stocks per day. Looking at the insurance asset management institutions participating in the investigations, in terms of insurance asset management, Taikang Asset Management, Sunshine Asset Management, Taiping Assets, Great Family Assets, China Life Assets, New China Assets, and Mayflower Assets have each conducted investigations more than 10 times since November. Among them, Taikang Asset Management showed the highest enthusiasm for investigations, conducting a total of 21 investigations; Sunshine Asset Management closely followed with 16 investigations. In addition, Taiping Assets conducted 15 investigations, Great Family Assets and China Life Assets each conducted 13 investigations, New China Assets and Renbao Assets conducted 12 and 11 investigations respectively. Taikang Asset Management, Sunshine Asset Management, Taiping Asset Management, Great Family Asset Management, and China Life Asset Management also rank high in the number of stocks being investigated, with the number of stocks being investigated being 21, 16, 15, 12, and 13 respectively. The investigations by these five insurance asset management companies mainly focused on the Shenzhen main board and the ChiNext board. The total number of stocks investigated by the five insurance funds in these two sectors was 22 and 19 respectively. In terms of institutions classified as insurance companies, their enthusiasm for investigations is also particularly high. China Life Insurance Retirement, Changjiang Retirement, and Ping An Retirement conducted investigations more than 10 times, reaching 14 times, 13 times, and 12 times respectively. Additionally, China People's Retirement Insurance and Taiping Retirement Insurance also conducted 9 investigations each. Looking at the investigation situation of large insurance companies, the "China Life" group conducted investigations on the most number of stocks, reaching a total of 31; followed closely by the "Ping An" group, with a total of 20 stocks being investigated. In terms of specific investigations, the "China Life" group focused on companies such as Shenzhen Longsys Electronics, Wuxi Taclink Optoelectronics Technology, BEONE MEDICINES, Beijing Caishikou Department Store Co., Ltd., Suzhou Sepax Technologies, Jones Tech Plc, Anji Microelectronics Technology, Luxshare Precision Industry, etc.; the "Ping An" group also focused on BEONE MEDICINES, Luxshare Precision Industry, as well as Guangdong TCL Smart Home Appliances, Hunan Yuneng New Energy Battery Material, JoulWatt Technology, Trina Solar Co., Ltd., Shenzhen Inovance Technology, etc. BEONE MEDICINES, Shenzhen Inovance Technology, and Luxshare Precision Industry are highly focused; over 20 insurance funds have conducted investigations From the frequency of investigations conducted on listed companies, according to Wind statistics, since November, a total of 126 listed companies have been investigated by insurance funds. Among the industries in the Wind database, the number of listed companies belonging to the integrated circuit industry that have received investigations is the highest, reaching 13 stocks, including Biwin Storage Technology, 3peak Incorporated, Shenzhen Techwinsemi Technology, Great Microwave Technology, Dosilicon Co., Ltd., Puya Semiconductor (Shanghai) Co., Ltd., etc. There are also a significant number of stocks in the electronic components industry, with 12 companies, including Luxshare Precision Industry, SHENZHEN JOVE ENTERPRISE LIMITED, Jones Tech Plc, Svg Tech Group, Xiamen Intretech Inc., Jiangsu Rijiu Optoelectronics Jointstock, Shenzhen Longli Technology, Shennan Circuits, etc. Additionally, there are 10 stocks in the electrical components and equipment sector, 8 stocks in the industrial machinery industry, and 6 companies in the application software industry. Among them, BEONE MEDICINES, Shenzhen Inovance Technology, and Luxshare Precision Industry, which belong to the Western Medicine, Electrical Components and Equipment, and Electronic Components industries, have each attracted over 20 insurance fund institutions for investigations, making them popular choices among insurance fund institutions. At the same time, companies such as Trina Solar Co., Ltd., and Wuxi Taclink Optoelectronics Technology in the Photovoltaic Equipment and Communication Equipment IV industries have also been favored by insurance funds, with over 10 insurance institutions visiting since November. It is worth noting that, in terms of popular stocks being researched by insurance funds, BEONE MEDICINES, Shenzhen Inovance Technology, and Luxshare Precision Industry, which have been investigated by over 20 insurance funds since November, have all seen negative returns during this period. However, Pourin Special Welding Technology, which has been investigated by 8 insurance funds, has seen a return of over 22%, and SHENZHEN JOVE ENTERPRISE LIMITED, which has been investigated by 6 insurance funds, has seen a return of 27%. Both companies belong to the industrial machinery and electronic components industries. In the latest institutional investigations, Pourin Special Welding Technology stated that the company has laid out its HRSG and oil and gas composite pipe business. The HRSG already has a certain scale of production capacity, while the composite pipe has secured a market position, with discussions and verifications ongoing with top foreign customers. Institutions: Increase the allocation of high dividend stocks and add high-quality bottom assets that can resist the challenge of low interest rates Insurance companies have higher requirements for fundamentals and need to have a comprehensive and detailed understanding of listed companies when making investment decisions. Regarding the investigations of listed companies by insurance funds, Gu Qian, the head of actuarial service at Tianzhi International Accounting Firm, told a reporter from Caixin that insurance institutions, accounting for nearly 3% of the total A-share market value, are one of the most important institutional investors, possessing characteristics such as long-term stability, large fund size, high market value, and great growth potential, thus having a profound impact on investments in listed companies. Regarding recent equity allocation actions, a person from a large insurance company told a reporter from Caixin in response to a question from an investor that the company carries out asset allocation management based on the characteristics of insurance liabilities. Based on the long-term outlook for the macro-environment, they conduct large asset allocation, and under the requirement of asset-liability matching management, they reasonably allocate equity and other assets to increase investment returns. "The company's equity asset investment varieties are relatively diversified." An investment manager from an insurance company also revealed to a reporter from Caixin that since the fourth quarter, the company has mainly increased the allocation of high dividend stocks. At the same time, they have also strengthened their research in areas aligned with the country's major strategic directions, such as new productive forces, high-end manufacturing, artificial intelligence, digital economy, and biopharmaceuticals. Another person from an insurance company stated that the company responds to the call for insurance funds to enter the market, continuously optimizes the asset allocation structure, increases the allocation of high-quality bottom assets that can resist the challenge of low interest rates, and solidifies the foundation for long-term returns. Gu Qian told a reporter from Caixin that in recent years, under the guidance of the new accounting standards, companies with high ROE and high dividend types have been favored by insurance funds, and the holdings of insurance funds in listed company stocks have set a new market trend. Under the requirements of the Ministry of Finance and the China Banking and Insurance Regulatory Commission for long-term performance assessments, grasping investment directions and increasing market entry intensity in investigations are also necessary steps for standard and stable operations. "The company adheres to the principles of asset-liability matching and long-term, value, and stable investment concepts, steadily advancing the optimization of equity asset allocation," a person from an insurance company said. This article was reproduced from "Caixin" and edited by GMTEight: Jiang Yuanhua.