Public Fund Institutions Conduct Over 1,200 Research Visits This Month, AI-Related Stocks Become Focus

Since March, the A-share market has shown a trend of structural adjustment. During this period, public fund institutions actively explored deployment directions and strategy adjustments through research. According to the latest statistics from Public Fund Ranking Network, a total of 144 public fund institutions participated in research on A-share listed companies within the month, involving 127 stocks across 27 first-level industries in the Shenwan classification, with a total of 1,206 research visits.

Electronics Industry Focused

In terms of research activity, 43 listed companies received visits from public fund institutions at least 10 times this month, with AI industry chain-related companies receiving particular attention. Among them, Jingchen Co., Ltd. led with 48 research visits, including a single-day event on March 1st that attracted 48 public fund institutions such as E Fund and China Asset Management, mainly focusing on the company’s AI layout.

Additionally, AI-related stocks such as Shennan Circuit, Desay SV, and Shenghong Technology in the computer industry also ranked among the top ten in research activity, with 29, 22, and 24 visits respectively this month. The research on Shennan Circuit mainly focused on how AI computing infrastructure drives PCB (printed circuit board) business, Shenghong Technology highlighted its technological advantages in PCB, and Desay SV showcased new businesses like its AI Cube robot intelligence base. This indicates that multiple key links in the AI industry chain—from core hardware (PCBs) to intelligent applications (automotive electronics, robotics)—are receiving significant attention from public fund institutions.

From an industry perspective, 12 first-level industries in the Shenwan classification were重点关注 (key focus) by public fund institutions this month, each with no less than 20 research visits. The electronics industry received the most attention, involving 28 stocks and totaling 253 visits, leading clearly among other industries; the machinery equipment industry ranked second, with 25 listed companies researched and 172 visits, including seven stocks such as Guangli Technology, Wolder, and Planet Graphite, each with at least 10 visits.

Most Active in Research: Harvest Fund

In terms of institutions, 47 public fund organizations conducted at least 10 research visits this month. Among them, Harvest Fund was the most active with 35 visits, mainly focusing on electronics, machinery, and electrical equipment industries, including stocks like Jingchen Co., Ltd., Tiannai Co., Ltd., Jinlang Technology, and Shennan Circuit. Bosera Fund followed closely with 31 research activities, mainly covering electronics and biomedicine, including companies like Kaili Medical and Jingchen Co., Ltd. FuGuo Fund ranked third with 27 visits, with electronics as a key focus. Meanwhile, FuGuo Fund also showed interest in traditional industry leaders, such as conducting three visits to textile chemical supplier Runtu Co., Ltd., indicating a balanced approach to technological innovation and traditional industry stability.

Additionally, within the month, public fund institutions such as China Asset Management, E Fund, and Huatai-PineBridge also conducted over 20 research visits each, mainly focusing on electronics, machinery, and computer-related industries, reflecting ongoing attention to the technological growth mainline.

Regarding current research hotspots and market structure, Guo Liangliang, fund manager of Furong Fund, told Securities Daily: “Although the technology growth sector has performed strongly since 2025, with some sub-sectors experiencing significant gains, from the perspectives of industry prosperity, performance realization, and valuation matching, many sub-sectors still hold continuous value for attention.”

Guo further analyzed that: First, the computing power sector. Although fields like optical modules and PCBs have seen large gains earlier, benefiting from clear growth in computing demand, related companies’ performance growth remains significant, and current valuations are reasonable relative to earnings, with potential for “Davis double hits” in the future. Second, reshaping the supply chain brought by new technologies. Cutting-edge technologies like CPO (co-packaged optics) are moving from R&D to large-scale application, which will reconstruct upstream and downstream industrial chains and open new growth space for supporting companies. Third, the storage sector. This cycle is not just about simple price increases; its core driver is a fundamental change in industrial paradigms. Fourth, AI applications and humanoid robots. As AI moves from “computing power competition” to “application monetization,” commercialization in finance and healthcare is accelerating; humanoid robots are expected to enter mass production around 2026, with significant growth potential in core components and complete machine manufacturing, potentially becoming new growth engines for the tech sector.

Shu Wenyu, fund manager of Great Wall Fund, told Securities Daily that he will continue to seek marginally changing sub-sectors within the AI logic. Regarding performance realization, hardware computing power remains the main investment line, with a focus on technological iteration in optical modules, PCBs, data center power supply demand, and major events in embodied intelligence and commercial aerospace.

(Edited by: Xu Nannan)