私募调研节奏放缓，方向仍聚焦电子等行业

Private equity due diligence has slowed down, but the focus remains on industries such as electronics.

【环球网财经综合报道】6月私募调研节奏放缓，Wind数据显示，6月共有超840家私募机构参与A股公司调研，合计调研1797次，涉及373家公司。业内认为，调研频次回落受半年末季节性操作、前期赛道获利了结等多重因素影响。

[Global Network Financial Comprehensive Report] The pace of private equity slowed due diligence down in June. Wind data shows that in June, more than 840 private equity institutions participated in the survey of A-share companies, with a total of 1,797sessions involving 373 companies. Industry insiders believe the decline in the frequency of due diligence is affected by multiple factors such as seasonal operation at the end of half the year and profit-taking of the early track.

从机构调研数来看，11家私募调研次数不少于10次。正圆投资以19次居首，运舟资本、尚诚资产分别以17次和14次紧随其后，高毅资产、淡水泉等百亿元级私募调研次数均在10次及以上。

Judging from the number of institutional due diligence sessions，11 private equity firms conducted no fewer than 10 due diligence sessions Zhengyuan Investment ranked first with 19 times, followed by Yunzhou Capital and Shangcheng Assets with 17 times and 14 times respectively, and Gaoyi Assets, Danshuiquan and other 10-billion-yuan private equity firms were all 10 times or more.

调研方向上，电子、机械设备行业仍是关注重点。私募关注度居前的20家公司中，9家属于电子行业，4家属于机械设备行业。有观点分析，电子行业景气度高、业绩增长确定性较强，且具备高频业绩验证条件，私募通过调研核验下游订单、产能扩张等经营实况。

In the direction of due diligence, the electronic and mechanical equipment industries are still the focus of attention. Among the 20 companies with the top private placement attention, 9 belong to the electronic industry and 4 belong to the machinery and equipment industry. According to the analysis, the electronic industry has a high prosperity, strong certainty of performance growth, and has the conditions for high-frequency performance verification. Private equity veriifies downstream orders, capacity expansion and other business conditions through research.

个股方面，大金重工获78家私募调研，关注度最高；上海瀚讯获67家调研，位列第二；容大感光、盛美上海等电子行业公司亦获较多关注。

In terms of individual stocks, Daikin Heavy Industry received 78 due diligence visits , with the highest attention; Shanghai Hanxun received 67 surveys, ranking second; Electronics companies such as Rongda Photosensitive and Shengmei Shanghai have also received ample attention.

在国投证券看来，步入2026年，投资者正在逐渐感知到这是AI对长期生产力积极作用的元年，在AI全面提速及不断渗透的当下，从微观证据到宏观效率的转化，显然天平已经正在向AI科技逐渐倾斜。（闻辉）

In the view of SDIC Securities, entering 2026, investors are gradually perceiving that this is the first year of AI's positive effect on long-term productivity. At the moment of all-round acceleration and continuous penetration of AI, it is obvious that the balance is gradually tilting towards AI technologyin the shift from micro-level evidence to macro efficiency.(Wen Hui)