Public Funds Conduct Nearly 5,000 Research Visits in April, Focusing on Top-Performing Stocks

Public Fund Research Activity Surges as Q1 Top Performers Become Hot Targets

As listed companies release their first-quarter earnings reports in rapid succession in April, public funds have noticeably accelerated their research efforts. Data shows that cumulative research visits by public funds have approached 5,000 since April, representing a month-over-month increase of over 50% and signaling a significant uptick in research enthusiasm. Companies with strong earnings delivery capabilities have become key targets for institutional capital.

Q1 Report Cards Drive Research Direction

Q1 earnings delivery has become the core focus of the market in recent weeks. In the current market environment, public funds have broadly shifted their research emphasis toward companies that posted impressive first-quarter results. Among the research targets, companies with the following characteristics are most favored:

• Earnings beating expectations: Companies with substantial year-over-year growth in Q1 net profit have attracted concentrated institutional research visits
• High industry prosperity: Leading enterprises in high-growth sectors continue to draw attention
• Strong earnings certainty: Companies with ample cash flow and robust order books are viewed as quality targets with a thick "safety cushion"

Notably, companies across the AI industry chain — both upstream and downstream — have also been a major focus of this research wave. As large language models accelerate their commercialization, sub-sectors such as computing infrastructure and AI application software are beginning to deliver on earnings, attracting a large number of public fund managers for on-site visits.

Market Outlook: Returning to Fundamental Logic

Industry insiders believe that as the Middle East situation gradually becomes clearer and external disruptions ease, the A-share market is expected to return to its own fundamental logic. At the current stage, investors may focus on two key themes:

1. High-growth theme: Focus on sectors with strong Q1 earnings growth and sustainability, particularly new productive forces such as AI computing power and intelligent manufacturing
2. Energy security sector: Against the backdrop of geopolitical uncertainty, the strategic allocation value of energy security-related stocks has become even more pronounced

Analysts point out that a significant increase in public fund research frequency is often a positive signal of "bottom-building" in the market. Intensive research activity indicates that institutions are gathering information for subsequent investment decisions, and also reflects professional investors' recognition of quality assets at current valuation levels.

Looking Ahead

Looking forward, as Q1 earnings disclosures wind down, performance divergence will become more apparent. Companies with genuine fundamental support — true growth stocks — are expected to stand out during market adjustments and become core targets for public fund position-building. Investors are advised to closely monitor institutional research trends to identify potential investment opportunities.