Reporter Meng Ke

  Since the beginning of this year, although the A-share market has fluctuated greatly, it has not affected the enthusiasm of institutions to investigate the companies listed on the Beijing Stock Exchange.

Since the beginning of this year, 45 companies listed on the Beijing Stock Exchange have received 71 institutional surveys.

Among them, companies related to emerging growth tracks such as machinery and equipment, computers, and electronics have received key attention from institutions.

  "For companies listed on the Beijing Stock Exchange, institutional research is a good opportunity to show their own development status. Receiving institutional research is not only the obligation of listed companies, but also a concrete manifestation of the healthy development of the capital market." Zhu Haibin, assistant general manager of Essence Securities Research Center Speaking to the "Securities Daily" reporter.

  Institutional intensive research

  According to Wind statistics, as of May 8, a total of 45 listed companies on the Beijing Stock Exchange have received institutional investors for 71 surveys, with a total of 378 institutions.

Among them, Keda Automatic Control received the highest frequency of 5 times; Fujitec and Qiuguan Cable received 4 times; Xingchen Technology and Chuangyuan Instrument received 3 times; 12 listed companies such as Betterray and Jingsai Technology all received institutions Investor survey 2 times.

  In an interview with a reporter from Securities Daily, Liu Jing, chief analyst of Shenwan Hongyuan Specialist, said that the main purpose of institutional investor research is to explore investment opportunities or track the latest changes in holding companies. The survey shows that institutional investors are paying more attention to companies listed on the Beijing Stock Exchange.

  It is worth noting that the market value of these companies that have been investigated more frequently by institutions is relatively large.

At the same time, its 2021 annual report performance and 2022 first quarterly report performance are also more eye-catching. For example: in the 2021 annual report, Betterway achieved a net profit of 1.44 billion yuan, a year-on-year increase of 191.4%; in the first quarter report of 2022, Betterway achieved Net profit was 449 million yuan, a year-on-year increase of 71.2%.

  In Zhu Haibin's view, there are three reasons for the intensive investigation of companies listed on the Beijing Stock Exchange: First, the annual reports and quarterly reports of the companies on the Beijing Stock Exchange have been disclosed one after another, showing the value of investment allocation.

The company's overall performance in 2021 and the first quarter of 2022 is outstanding, and it has a certain cost-effectiveness advantage compared to other sectors in Shanghai and Shenzhen.

In particular, a group of companies represented by Betray have achieved rapid growth in performance and are also among the best in the entire A-share market.

Second, the newly listed companies on the Beijing Stock Exchange have undergone preliminary adjustments, and their high valuations have gradually been digested. The current valuations have already allocated value, and institutional investors who have not been able to participate in new launches or strategic placements before have begun to step up research.

Third, most of the companies listed on the Beijing Stock Exchange are in the early stages of development. After the release of the 2021 annual report, institutional investors are very concerned about the sustainable growth ability of these companies.

  R&D investment attracts attention

  Specifically, benchmarking companies have received the most institutional surveys.

In terms of industries, companies listed on the Beijing Stock Exchange in mechanical equipment, computer, electronics and other industries are frequently surveyed by institutions.

In addition, among the above-mentioned 45 listed companies, 8 are "specialized, special and new" enterprises, including Keda Controls, Fujitec, Xingchen Technology, Jinhao Medical, Taixiang, Sanyou Technology, Runnong Water Saving, and Changhong Energy.

  It is understood that Changhong Energy, a battery manufacturer, has realized the dual-core layout of "alkaline battery + lithium battery" and has built the largest "high-rate cylindrical lithium battery" production base in the west.

The products of Xingchen Technology, a military and civilian server supplier, have served many national aerospace projects such as "Tiangong" and "Shenzhou" series spacecraft measurement and control.

  Liu Jing said that from the perspective of industry attributes, institutions pay more attention to stocks related to emerging growth tracks, especially new energy, electronics and other fields.

  At the same time, the reporter found that when institutional investors researched companies listed on the Beijing Stock Exchange, issues such as R&D investment and the impact of the epidemic on the company were frequently mentioned.

For example, Keda Autocontrol, which was surveyed five times by institutions during the year, was asked in the most recent (April 28) survey by institutional investors, "What is the current R&D investment? How is the progress?" "The epidemic will affect the company's operations. ?"

  In response, Keda Controls responded that in terms of R&D investment, the company's fundraising project "CPS Smart Mine R&D and Construction Project" is an integrated R&D project for the intelligentization of the entire mine, with a planned investment of more than 100 million yuan.

The successful research and development of this project will provide the mining industry with a complete technical system integrating "management and control platform, communication network, intelligent hardware, special robots and optimization algorithms".

At the same time, since the outbreak of the epidemic, the company has actively responded to the government's call and fully supported the fight against the epidemic. At present, the company's production and operation are in good condition.

  "The epidemic has indeed had a certain impact on the listed companies of the Beijing Stock Exchange. From the research and disclosure, most of the surveyed companies were asked relevant questions." Zhu Haibin said that the research and development direction and the construction and production of listed fundraising projects are also this time. The focus of institutional investors.

At present, these companies have raised a large amount of funds through listing and financing on the Beijing Stock Exchange, which not only enhances the ability to resist risks, but also facilitates continuous upgrades in R&D and production capacity, and improves the company's long-term development capabilities.

  Liu Jing said that from the perspective of research issues, institutions are more concerned about the innovation ability and growth potential of enterprises, such as R&D investment, product strategic layout, and fundraising and investment progress.

(Securities Daily)