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<Research>CICC: CN Funds' 4Q24 Electronics Positions Hit New High, Prefers XIAOMI/ SUNNY OPTICAL/ Others
Recommend 17 Positive 24 Negative 9 |
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From the recently disclosed data on the positions of China's public funds in 4Q24, the electronic sector positions reached a new all-time high, while the position of the communications sector dropped slightly QoQ, CICC released a research report saying. Looking ahead to 2025, for the semiconductor sector, the broker was optimistic about the accelerated growth of downstream demand for chip design driven by the AI refresh wave, as well as the AI-driven expansion of demand for cloud and end-side computing chips. Meanwhile, the broker recognized the long-term logic of increasing the rate of nationalization in the big manufacturing sector. In the consumer electronics sector, China's funds increased their stakes in companies like XIAOMI-W (01810.HK), WOER HEAT-SHRINKABLE MATERIAL(002130.SZ) and BYD ELECTRONIC (00285.HK) in 4Q24, according to the report. For the Shanghai-/ Shenzhen-Hong Kong Stock Connect, northbound funds increased their holdings of WOER HEAT-SHRINKABLE MATERIAL, while southbound funds raised stakes in XIAOMI-W, SUNNY OPTICAL (02382.HK) and BYD ELECTRONIC. CICC kept its ratings, profit forecasts, target prices for covered firms unchanged, and preferred SOUTHCHIP TECHNOLOGY(688484.SH), HUAQIN TECHNOLOGY(603296.SH), XIAOMI-W, SUNNY OPTICAL, FOXCONN INDUSTRIAL INTERNET(601138.SH), ZHONGTIAN TECH(600522.SH), China International ZHONGJI INNOLIGHT(300308.SZ) and HIKVISION(002415.SZ). The broker liked firms in domestic computing power industry chain, including SMIC (00981.HK), GIGADEVICE(603986.SH) and ZTE (00763.HK). AAStocks Financial News |
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