According to the Financial Associated Press on April 22 (Reporter Shen Shuhong), as nearly 500 listed companies release their first-quarter reports, 64 individual stocks have seen QFII emerge among their top ten circulating shareholders. Among many financially robust sovereign wealth funds, the holdings of the Abu Dhabi Investment Authority, Kuwait Investment Authority, and the Government of Singapore Investment Corporation (hereinafter referred to as “GIC”) in some A-shares are gradually coming to light.

From the currently announced data, both major wealthy entities in the Middle East have targeted energy stocks, such as the Kuwait Investment Authority becoming the seventh largest circulating shareholder of Shenzhen Invt Electric, an industrial automation and energy electrical utilities company in China, while the Abu Dhabi Investment Authority appeared among the top ten shareholders of Zijin Mining Group and Guangdong Orient Zirconic ind sci & tech. At the same time, Guangdong Haid Group and Wireless Media were also held by the Abu Dhabi Investment Authority.

The sovereign wealth fund responsible for managing Singapore's Forex reserves—GIC—has appeared among the top ten circulating shareholders of two listed companies—Shanghai Friendess Electronic Technology Corporation and Huaming Power Equipment, but overall there has been a reduction in holdings.

Abu Dhabi Investment Authority: Purchasing Zijin Mining Group and Guangdong Orient Zirconic ind sci & tech, two energy stocks.

As of October 2024, with a managed capital scale reaching 1.7 trillion USD, the Abu Dhabi Investment Authority holds significant positions in investments across the USA, Europe, and Asia. By the end of the first quarter of this year, the Abu Dhabi Investment Authority was newly listed among the top ten circulating shareholders of four public companies: Guangdong Haid Group, Wireless Media, Zijin Mining Group, and Guangdong Orient Zirconic ind sci & tech, of which Zijin Mining Group and Guangdong Orient Zirconic ind sci & tech are energy stocks.

Since the second quarter of 2016, the Abu Dhabi Investment Authority has appeared among the top ten circulating shareholders of Guangdong Haid Group, and after a brief exit from 2017 to the first half of 2019 and again in the first quarter of 2021, it has continued to hold shares until now. At the end of the first quarter, the Abu Dhabi Investment Authority was the fifth largest circulating shareholder of the company, holding 15.5015 million shares, a decrease of 3.241 million shares compared to the previous period, with a market value of 0.774 billion yuan.

During the same period, the Invesco Great Wall Emerging Growth and Invesco Great Wall Dingyi funds, managed by Liu Yanchun, ranked as the third and fourth largest circulating shareholders of Guangdong Haid Group, respectively, but both have seen reductions in their holdings.

In the past quarter, the core business of Guangdong Haid Group, which includes aquatic fodder, aquatic seedlings, and animal health products, achieved revenue of 25.629 billion yuan, an increase of 10.60% compared to 23.172 billion yuan in the same period last year; the Net income attributable to shareholders of the listed company was 1.282 billion yuan, a growth of 48.99% compared to 0.861 billion yuan from the previous year. However, the company's accounts receivable at the end of the period was 3.675 billion yuan, up 72.86% from the beginning of the period. Guangdong Haid Group stated that this was mainly due to rapid business development and the gradual entry into the peak season, resulting in increased receivables from customers.

In addition to the aforementioned companies, the Abu Dhabi Investment Authority also newly became the fifth and ninth largest circulating shareholders of Wireless Media and Guangdong Orient Zirconic ind sci & tech. This is also the first time the Abu Dhabi Investment Authority has appeared in the list of top ten circulating shareholders of Wireless Media and Guangdong Orient Zirconic ind sci & tech, holding 0.1846 million shares and 2.1002 million shares respectively, with a market value of 9.2031 million yuan and 18.8598 million yuan respectively.

Historical data shows that since the fourth quarter of 2021, the Abu Dhabi Investment Authority has frequently appeared in the list of the top ten circulating shareholders of Zijin Mining Group, with the only exceptions being in the third quarter of 2022, the first quarter of 2023, and the fourth quarter of 2024. As of the end of March 2025, the Abu Dhabi Investment Authority reappeared, holding 0.163 billion shares of the stock, with a market value of 2.956 billion yuan.

From the performance of the stock price during the first quarter, Zijin Mining Group and Guangdong Orient Zirconic ind sci & tech both saw significant gains, with increases of 19.84% and 22.34% respectively. During the same period, the stock price of Guangdong Haid Group rose slightly by 1.83%, while the stock price of Wireless Media fell by 11.03%.

The Kuwait Investment Authority and GIC each have their preferences.

The Kuwait Investment Authority has become one of the top ten circulating shareholders of Shenzhen Invt Electric, an industrial automation and Electrical Utilities company.

Another sovereign wealth fund from the Middle East - the Kuwait Investment Authority also newly entered an Energy stock this first quarter, becoming the seventh largest circulating shareholder of Shenzhen Invt Electric, holding 5.2364 million shares, with a market value of 45.5407 million yuan. This is also the first time the Kuwait Investment Authority has appeared in the list of top ten circulating shareholders of this stock in nearly ten years.

In the first quarter, the stock price of Shenzhen Invt Electric increased by 13.70%, and the Kuwait Investment Authority's investment temporarily yielded good returns. However, in terms of operational performance, the data indicators released in the company's quarterly report were not satisfactory: the total revenue for the first quarter was 0.84 billion yuan, a decline of 11.47% compared to the same period in 2024; the Net income attributable to the parent was 34.7375 million yuan, down 26.44% year-on-year; and the falling Net income after deducting non-recurring items was 26.5234 million yuan, a decrease of 36.28% year-on-year.

In addition, the sovereign wealth fund responsible for managing Singapore's Forex reserves - GIC - is also listed among the top ten circulating shareholders of two listed companies - Shanghai Friendess Electronic Technology Corporation and Huaming Power Equipment, but overall there has been a reduction. The former is one of the first private enterprises in China engaged in the development of complete control systems for fiber laser cutting, while the latter is the only domestic manufacturer of branch switches with two major industry chain production bases.

Specifically, as of the end of the first quarter, Singapore's Government Investment Corporation held 3.3768 million shares of Shanghai Friendess Electronic Technology Corporation and 13.5696 million shares of Huaming Power Equipment, reducing its holdings by 0.5494 million shares and 4.5124 million shares respectively compared to the end of last year, with the market value of its holdings being 0.615 billion yuan and 0.12 billion yuan respectively.

It is worth mentioning that Temasek Holdings' wholly-owned subsidiary - Temasek Fudan Investment Co., Ltd. also reduced its holdings of Shanghai Friendess Electronic Technology Corporation by 1.1569 million shares, to 1.8149 million shares, with the remaining market value of only 0.331 billion yuan.

Although the stock prices of the above two stocks increased by 8.73% and 24.82% respectively in 2024, they both fell by 6.20% and 12.52% in the first quarter of this year.