Latest Trends in March Institutional Research Revealed

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By March 2026 and the first quarter, the A-share market has concluded. During this period, many institutions actively researched listed companies to find investment opportunities in the A-share market.

In March, more than a hundred institutions researched several companies

Wind data shows that in March this year, institutional research activities remained highly active, with over 700 A-share listed companies receiving institutional visits.

In terms of the number of research institutions, according to Wind statistics, more than 30 A-share companies including Mindray Medical, Sanhua Intelligent Controls, Shennan Circuit, and Qirui Technology each hosted over 100 research institutions in March.

According to the investor relations activity record of leading domestic medical device company Mindray Medical, on March 31, Mindray held an analyst meeting and earnings presentation, attracting over 360 institutions and more than 780 personnel, including well-known domestic and international institutions such as Southern Fund, Ping An Securities, and UBS Group. As of the close on April 1, Mindray’s total market value was 201.1 billion yuan.

During the research activities, Mindray stated that currently, governments worldwide are generally under significant pressure on healthcare spending. To change this situation, in addition to internal R&D and mergers and acquisitions, the company will strengthen cooperation with leading enterprises to jointly promote the accessibility and homogenization of high-quality medical resources, working with partners to solve livelihood issues; regarding emerging businesses, Mindray indicated that these mainly include minimally invasive surgery, minimally invasive intervention, and veterinary medicine. As these businesses mature and domestic market conditions change, their importance to the company is increasing, and separating them is also to facilitate better development.

On March 24, Sanhua Intelligent Controls held a teleconference, hosting over 100 institutions including CITIC Securities and UBS, with 351 participants. The company introduced its operational status for 2025 and responded to some questions. For example, regarding measures to resist fluctuations amid rising raw material prices upstream, Sanhua said that for products mainly made of copper, the company implements a pricing mechanism linked to copper prices, which can slightly improve gross margins during copper price increases; for a small portion of products not directly tied to copper prices, the company effectively hedges price fluctuation risks through hedging businesses; the company actively promotes material substitution, using stainless steel, aluminum, and polymer materials to replace copper and other raw materials, which not only effectively alleviates cost pressures caused by commodity price fluctuations but also improves product performance in some substituted materials (such as stainless steel).

Regarding progress in bionic robot fields, Sanhua said that as a supplier of bionic robot components, the company continues to cooperate with clients on key product R&D, prototyping, iteration, and sample delivery, and is increasing development efforts on electromechanical actuators. The company plans to expand overseas production of electromechanical actuators and grow its R&D team to consolidate its first-mover advantage in emerging businesses.

Leading domestic PCB industry player Shennan Circuit also received research visits from over 100 institutions in March. Regarding its PCB layout in AI computing power, Shennan Circuit stated that benefiting from rapid AI development and application deepening, infrastructure construction for computing power is entering a high prosperity cycle, driving PCB development toward high density, high integration, high speed and high frequency, high heat dissipation, and multi-layer designs. By 2025, demand for PCB products in high-speed switches, optical modules, AI acceleration cards, and servers will benefit from these trends.

In March, over 100 institutions also researched Turbine Technology (note: before March 26, the company’s stock abbreviation was Hailianxun). The company stated during research that, according to its strategic plan, future performance growth will mainly come from four areas: first, gas turbine business, including the commercialization of self-developed gas turbines, deepening cooperation with Siemens, and expanding the series of gas turbine products; second, expanding overseas markets to increase foreign revenue share and profitability; third, service business, leveraging platforms like machinery and combustion companies to expand aftermarket services for gas turbines and steam turbines, enhancing full lifecycle service capabilities; fourth, related industrial investments, extending the industrial chain and strategic investments in synergy with core businesses to improve resource integration and overall competitiveness.

Besides these companies, sources like Yuanjie Technology, Dajin Heavy Industry, Huitai Medical, Lanfan Medical, Transsion Holdings, and Shenghong Technology also ranked among the top in research visits in March.

In terms of research frequency, companies like Fulerjia, Anpeilong, Guangli Technology, Jiangbolong, and others received research visits more than 10 times in March, with Fulerjia exceeding 10 visits.

Regarding the industries of companies most frequently researched in March, based on Shenwan first-level industry classification, electronics, electrical equipment, pharmaceuticals, and non-ferrous metals are relatively prominent.

Over 1,300 A-share companies researched in the first quarter

Looking at the entire first quarter of 2026, Wind data shows that institutions collectively researched over 1,300 A-share listed companies. Companies such as Dajin Heavy Industry, Mindray Medical, Tianshun Wind Power, Jingzhida, Haitan Ruisheng, Sanhua Intelligent Controls, BeiGene, Aobo Zhongguang, Yingtang Zhikong, Shennan Circuit, and Xiangyu Medical received the most research visits in the first quarter.

In terms of research frequency, more than 20 companies including Anpeilong, Han’s Laser, Fulerjia, Binglun Environment, Hai’an Group, Tianlu Technology had 10 or more research visits in the first quarter.

Regarding the industries of companies most frequently researched in the first quarter, based on Shenwan first-level classification, electronics, machinery, electrical equipment, pharmaceuticals, computers, automotive, and non-ferrous metals are prominent; from the perspective of strategic emerging industries, core electronics, biomedical engineering, and intelligent manufacturing equipment industries are relatively favored by institutions.

Source: Securities Times Official Microblog

Disclaimer: All information from Data Treasure does not constitute investment advice. The stock market involves risks; investments should be cautious.

Editor: Zhou Sha