In the first quarter, public offerings were surveyed over 10,000 times in total, with Dajin Heavy Industry receiving 115 surveys, ranking first.

Dateline: Xinhua Finance

Xinhua Finance, Shanghai, April 1 (Reporter Wei Yutian) In the first quarter of 2026, the survey and research activity level of publicly offered fund institutions continued to rise. According to data from the Public Fund Ranking website, as of March 31, 2026, in the first quarter, a total of 160 publicly offered fund institutions participated in A-share research activities. The scope was broad, covering 894 stocks across 30 Shenwan primary industries, with the total number of research visits reaching as many as 10,054 times.

In terms of the research heat of individual stocks, in the A-shares with the top 10 number of research visits by publicly offered funds in the first quarter, each stock was researched no fewer than 67 times. Among them, stocks in the electric power equipment sector—Dajin Heavy Industry—were especially favored by publicly offered fund institutions, with 115 research visits, making it the only stock in the first quarter whose number of research visits exceeded 100.

Among the top 10 stocks by research heat, the distribution by industry shows a certain concentration. The three major industries—machinery and equipment, automobiles, and pharmaceutical and biological—performed prominently. Specifically, in the machinery and equipment industry, Jingzhida and Naipu Mining Machinery were researched 87 times and 68 times respectively; in the automobile industry, Siling Zhizhu Drive and Chaoshie Shares were researched 79 times and 73 times respectively; in the pharmaceutical and biological industry, Aipeng Medical and BeiGene (Baidu?)—actually 百济神州—were researched 74 times and 72 times respectively.

From the perspective of concepts associated with individual stocks, in the first quarter publicly offered fund institutions showed especially strong interest in the “specialized and sophisticated” (专精特新) concept stocks. Among the A-shares with the top 10 research visit counts, specialized and sophisticated concept stocks occupy 7 spots: Jingzhida, Siling Zhizhu Drive, Haitian Ruisheng, Aipeng Medical, Chaoshie Shares, Naipu Mining Machinery, and Aladdin. Moreover, among all stocks covered by publicly offered fund research in the first quarter, there were 261 specialized and sophisticated concept stocks, accounting for as much as 29.19%.

Beyond the individual-stock level, industry research heat also shows a clear pattern of concentrated top-end characteristics. In the first quarter, among the industries with the top 10 number of research visits by publicly offered funds, each industry was researched no fewer than 199 times. Among them, the three major industries—electronics, machinery and equipment, and pharmaceutical and biological—became the core focus of publicly offered fund research. Whether in terms of the number of researched stocks or the total number of research visits, they significantly led other industries.

More specifically, the electronics industry ranked first with 1,848 research visits; the number of researched stocks reached 141. Among them, Dongxin Shares, Juchen Shares, Advanced Micro-Fabrication Equipment? (中微半导), Bio? (佰维存储), Shanggong Shares, and Oupichangguang (奥比中光) and other stocks all received no fewer than 40 research visits. The machinery and equipment industry ranked second, with a total number of research visits of 1,258, covering 112 stocks. Jingzhida, Naipu Mining Machinery, and Ligong Technology, thanks to research visits of no fewer than 50 times, became the most closely watched stocks within that industry. The pharmaceutical and biological industry followed next. Publicly offered fund institutions researched 84 stocks in that industry in total, with an aggregate of 1,256 research visits. Stocks such as Aipeng Medical, Xiangyu Medical, Xishan Technology, and Frontier Biotechnology received especially high attention.

Editor: Li Yifan