Brokerage firms' April top stocks announced: Communication sector leads in increased allocation, Zhongji Xuchuang is the hottest.

Why has the communication sector become a focus for brokerages to increase holdings in April?

Under ongoing geopolitical disruptions, as trading begins in April, which A-share sectors and targets are brokerages more keen on?

Overall, in terms of industries, power equipment and basic chemicals have the highest weight among April’s “golden stocks.” Meanwhile, from the perspective of relative changes, communication is the industry with the most added allocation among April’s “golden stocks.” Electronics, on the other hand, saw a relatively large weight decline among brokerages’ April “golden stocks.”

As for individual stocks, data from Kaiyuan Securities’ research report shows that, after deduplication of “golden stocks” recommended by 36 brokerages across the market, ZTE Zhongji Xuchuang (300308) has the highest level of heat.

Communication leads in added allocation and may indicate a shift toward a value style

In the industry segment, a Guosen Securities research report notes that, after deduplicating brokerages’ “golden stock” stock pools, based on absolute allocation share, brokerages’ April 2026 “golden stocks” are configured at relatively high levels in industries including basic chemicals, electronics, non-ferrous metals, machinery, and communication.

Kaiyuan Securities’ research report statistics show that the top industry by weight among brokerages’ “golden stocks” in April is power equipment, accounting for as much as 11.8%. Non-ferrous metals follow closely at 9.1%. Communication and electronics come next, with shares of 7.3% and 6.3%, respectively.

Regarding increases and decreases in industry weights, research data from multiple brokerages all indicate that communication is a sector with a more noticeable increase in weight among brokerages’ April “golden stocks.”

According to data from Guosen Securities, compared with March 2026, the industries with the largest increases in brokerages’ April “golden stocks” are communication, banking, and transportation, with increases of 2.76%, 1.79%, and 1.26%, respectively.

Kaiyuan Securities’ research report data indicates that, from the perspective of relative changes, brokerages’ April “golden stocks” added more allocation to industries such as power equipment, communication, and utilities, increasing by 4.9%, 2.4%, and 2.3%, respectively.

In terms of decline, both Guosen Securities and Kaiyuan Securities data show that brokerages’ April 2026 “golden stocks” reduced their allocation to the electronics industry the most.

Kaiyuan Securities data shows that the industries with the largest decreases in “golden stock” weights in April are electronics, light industry manufacturing, and pharmaceuticals and biology, decreasing by 6.7%, 1.6%, and 1.3%, respectively. Guosen Securities data shows that electronics, petroleum and petrochemicals, and computers decreased by 4.70%, 1.76%, and 1.47%, respectively.

“[In] April, the market value level of brokerages’ “golden stocks” rose, while valuation levels fell, which may indicate that brokerages’ “golden stocks” shifted toward a value style in April,” said Kaiyuan Securities.

ZTE Zhongji Xuchuang has the highest level of popularity

On the individual stock level, Kaiyuan Securities data shows that among the “golden stocks” recommended by different brokerages in April 2026, ZTE Zhongji Xuchuang (300308) ranked highest in terms of recommendation count, with a total of 8 recommendations.

Ningde Times (300750) followed closely with a total of 7 recommendations; Zijin Mining (601899) and Anjui Food (603345) were recommended 6 times each.

China National Offshore Oil (600938), BYD (002594), and others were each recommended 5 times in total; Yankuang Energy (600188), China Merchants Steamship (601872), Satellite Chemical (002648), WuXi AppTec (603259), and others were each recommended 4 times.

Ganfeng Lithium (002460), China Jushi (600176), Hongdu Aviation (600316), Ningbo Bank (002142), and others were each recommended 3 times; Jereh Co. (002353) was recommended 2 times.

Meanwhile, among the new additions to “golden stocks” in April (compared with the list of new “golden stocks” in March 2026), Keda Li (002850) was recommended the most, with a total of 4 recommendations.

Midea Group (000333), Haitian Taste (603288), Xinyisheng (300502), China Taiping (601601), Jinjiang Hotels (600754), Hangzhou Bank (600926), Chifeng Gold (600988), Baofeng Energy (600989), and others were each recommended 3 times.

Deke Li (688205), China Petroleum (601857), Tianshun Wind Power (002531), China Shenhua (601088), Huafeng Measurement & Control (688200), Xinzhu Bang (300037), and others were each recommended 2 times.

Breaking it down by each popular industry, the hottest “golden stock” in the power equipment sector is Ningde Times, with a total of 7 recommendations. In the non-ferrous metals sector, the hottest is Zijin Mining, with a total of 6 recommendations. In the communication sector, the hottest is ZTE Zhongji Xuchuang, with a total of 8 recommendations.

In electronics, Jiangfeng Electronics, Fara Electronics, GigaDevice, Huafeng Measurement & Control, and others were each recommended 2 times in total; in basic chemicals, Satellite Chemical was recommended a total of 4 times.

For other popular industries, in the food and beverage sector, Anjui Food and others had the highest recommendation counts; in the machinery equipment sector, Jereh Co. and Kega Precision Machinery tied for the hottest rating; in the pharmaceuticals and biology sector, WuXi AppTec had the highest recommendation count; in the automobile sector, BYD had the highest ranking in recommendation count.

In the transportation sector, China Merchants Steamship received the most attention; in the coal sector, Yankuang Energy had the hottest level of heat; in the utilities sector, Fuling Power was recommended the most.

Market participants say that in a brokerages’ “golden stock” stock pool, if market attention in the early stage was relatively low, then as brokerages’ analysts recommend those stocks as “golden stocks,” the stocks’ market attention will increase significantly. Based on this, one can identify “golden stocks” from brokerages that attracted relatively less market attention earlier.

“To a certain extent, most brokerages reflect analysts’ consensus expectations in the top ten ‘golden stocks’ disclosed at the beginning of each month. At the same time, brokerages’ “golden stocks” also combine the forward-looking perspective of quantitative analysis systems that absorb fundamental research.” However, a chief analyst in financial engineering at a brokerage in Shanghai further pointed out, “As market attention to brokerages’ “golden stocks” increases, investors who want to achieve more excess returns from their “golden stock” portfolios will still need to further select and refine brokerages’ “golden stocks.”