CICC: Public equity funds increased positions in the communications, chemical industry, and power equipment sectors in the first quarter, while reducing positions in non-ferrous metals and electronics.

The research report of Guotai Junan Securities stated that public funds increased their positions in the communication, chemical, and electrical equipment industries in the first quarter, while reducing their positions in the non-ferrous and electronics industries. In terms of industries with increased positions, the communication industry, particularly the hardware side of the AI industry chain, saw the largest increase in positions, with a rise of 2.1 percentage points. Within the communication industry, positions in communication equipment saw a significant increase. Benefiting from rising energy prices, supply substitution, and an increase in domestic export market share amid geopolitical conflicts, the basic chemical, electrical equipment, petroleum and petrochemical, and coal industries each saw increases in positions by 1.1, 1, 0.6, and 0.3 percentage points respectively. The biopharmaceutical industry, which had previously experienced sufficient adjustments and recent active catalysts, saw an increase of 0.5 percentage points in the first quarter. Industries with reduced positions included electronics and non-ferrous metals, which had previously experienced high increases and had their positions reduced by 1.8 and 1.3 percentage points respectively in the first quarter.