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

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Since March, the A-share market has shown signs 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 Paimai, 144 public fund institutions participated in research on A-share listed companies this month, covering 127 stocks across 27 first-level Shenwan industries, with a total of 1,206 research visits.

Electronics Industry Receives Focus

In terms of research activity, 43 listed companies were visited by 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 visit on March 1st by 48 public fund institutions such as E Fund and China Asset Management, mainly focusing on the company’s AI deployment.

Additionally, AI-related stocks such as Shennan Circuit, Desay Witsview, 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. Shennan Circuit’s research focused on how AI computing infrastructure drives PCB (printed circuit board) business, Shenghong Technology highlighted its technical advantages in PCB, and Desay Witsview showcased new businesses like its robot intelligence platform AICube. 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 Shenwan first-level industries were heavily researched this month, each with no less than 20 visits. The electronics industry received the most attention, involving 28 stocks and totaling 253 visits, leading both metrics among all industries. The machinery equipment industry ranked second, with 25 listed companies visited and 172 total visits; stocks like Guangli Technology, Wolder, and Planet Graphite were each visited at least 10 times.

JiaShi Fund Shows the Most Active Research

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

Additionally, funds like China Asset Management, E Fund, and Huitianfu Fund each conducted over 20 research visits this month, mainly focusing on electronics, machinery, and computer-related industries, reflecting ongoing attention to the tech growth theme.

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

Guo further analyzed that: First, the computing power sector. Fields like optical modules and PCBs have seen large gains early on, but benefiting from clear growth in computing demand, related companies’ performance growth remains significant, and current valuations are reasonable, with potential for “Davis double hits.” Second, the reshaping of supply chains driven by new technologies. Cutting-edge tech like CPO (co-packaged optics) is moving from R&D to large-scale application, restructuring upstream and downstream industries and opening new growth opportunities for supporting companies. Third, the storage sector. This cycle is driven not just by price increases but by fundamental industry paradigm shifts. Fourth, AI applications and humanoid robots. As AI moves from “computing power competition” to “application monetization,” commercialization in finance and healthcare accelerates; humanoid robots are expected to enter mass production around 2026, with significant growth potential in core components and manufacturing, potentially becoming new growth engines for the tech sector.

Changcheng Fund manager Shu Wenyu told Securities Daily: “We will continue to look for marginally changing sub-sectors within the AI logic. In terms of performance realization, computing hardware remains the main investment theme, focusing on technological iteration in optical modules, PCBs, data center power supply demand, and major events in embodied intelligence and commercial aerospace.”