险资下半年调研超4700次，泰康资管“最疯狂”

Group 1 - Insurance capital is accelerating its layout in the equity market under policy guidance, with a total of over 4700 company visits since the second half of 2025 [1][2] - Leading asset management and pension insurance companies are the main players in this trend, with Taikang Asset Management conducting over 280 visits, followed by Dajia Asset Management and Huatai Asset Management [1][2] - The technology and pharmaceutical sectors are the primary focus areas, with companies like Maiwei Biotech and Borui Pharmaceutical receiving multiple visits [1][4] Group 2 - The research activity is widespread across various A-share sectors, with over 70% of visits concentrated in Shenzhen Main Board, ChiNext, and STAR Market [2] - Some stocks have shown strong market performance post-insurance visits, with companies like Zhongji Xuchuang and Taotao Automotive doubling their stock prices [2] - Pension insurance companies are also actively participating, with Ping An Pension leading with 171 visits, focusing on both large-cap and small-cap companies [3][4] Group 3 - The dual focus on technology and pharmaceuticals reflects a strategic adjustment in asset allocation due to the low interest rate environment, aiming to build a balanced investment portfolio [3][5] - The pharmaceutical sector, particularly innovative drugs, is attractive for insurance funds due to its long-term investment nature, aligning with the stable characteristics of insurance capital [5] - The hard technology sector is experiencing multiple breakthroughs, with companies like Jing Sheng Machinery and Huichuan Technology being frequently visited [5][6] Group 4 - Traditional sectors, particularly bank stocks, remain a key focus for insurance capital, with a clear "growth in technology + high dividend" strategy [6] - Regional banks are gaining attention, with Jiangsu Bank receiving 17 visits, indicating a shift from the previous preference for state-owned banks [6]