"Among the 2-yuan stocks, is Huijin's heavy position leader hidden? Is this a leak or a minefield?" The latest market data on September 23 shows that there are 25 industry leading stocks in the A-share market with share prices below 2.5 yuan. Among them, the share prices of 10 stocks such as Petrochemical Oilfield Services and Greenland Holdings fell below 2.2 yuan, and the lowest Shanying International was only 1.82 yuan. What is more noteworthy is that Central Huijin, as a representative of the "national team", has placed multiple targets in such low-priced leading stocks - from CITIC Construction Investment in the financial field to CRRC in the infrastructure sector. Its position trends reveal its long-term optimism for low-valued leading stocks.

For retail investors, low-priced stocks have always been full of temptation: "You can buy 5,000 shares for 10,000 yuan, and you can earn 500 yuan if the price rises by 1 cent." It is easy for people to enter the market impulsively. However, data shows that among the stocks that have fallen by more than 40% since 2025, low-priced stocks account for 62%, most of which are due to low stock prices due to performance losses and chaotic governance. Those who can really get through the cycle are those industry leaders with "low price ≠ low quality". This article combines Huijin’s position logic to break down the investment codes of low-priced leading stocks, and attaches a list of core targets in subdivided areas to help you distinguish opportunities and traps.

1. First understand: the "dual attributes" of low-price leading stocks, half of them are opportunities and half of them are risks

The leading stocks whose stock prices fell below 2.5 yuan are essentially the result of the combined effect of "industry cycle market sentiment". They not only have a "leading moat" that ordinary low-priced stocks do not have, but they also have potential risks that cannot be ignored. This is the core logic of the layout of institutions such as Huijin.

1. Core Opportunities: “Valuation Safety Cushion” from the Fall

The appeal of low-priced leading stocks mainly comes from three dimensions:

• Advantages of low valuation: Most of these stocks are in traditional industries such as finance, energy, and infrastructure. The price-to-book ratio (PB) is generally less than 1 times (that is, the stock price is lower than the net assets per share). For example, China Energy Construction's PB is only 0.6 times, and the safety margin is significant. Agricultural Bank of China, which Huijin is heavily invested in, has the characteristics of "low valuation high dividend". The dividend rate in 2024 will reach 5.2%, far exceeding the current deposit interest rate.

• Solid leadership position: Companies that can remain industry leaders in the low-price range often have irreplaceable competitive advantages. For example, Petrochemical Oilfield Services is the largest oil and gas engineering service provider in China, with a market share of over 30%; Anshan Iron and Steel Co., Ltd. and Baosteel are known as the "Twin Steel Giants" and are technologically leading in the field of high-end plate materials.

• Policy catalytic expectations: Policies such as deepening the reform of state-owned enterprises and accelerating the "Belt and Road" infrastructure construction in 2025 are providing favorable support for low-priced leading stocks. CRRC, as the world's leader in rail transit equipment, has overseas operations covering 116 countries. It has benefited deeply from the rebound in demand for overseas infrastructure. Huijin already holds 298 million shares.

2. Potential risks: "triple minefields" behind low prices

Not all low-price leaders are worth investing in. You must be wary of the following three types of risks:

• Performance continues to be under pressure: Some low-price leaders are in profit trouble. For example, although Kangmei Pharmaceutical is still the leader in traditional Chinese medicine pieces, its net profit loss expanded in the first half of 2025, and its stock price fell to 2.03 yuan. There is a risk of fundamental deterioration.

• Hidden risks in ownership structure: Reduction of holdings by major shareholders and dispersion of ownership will affect stock price stability. Greenland Holdings, a leading real estate company, has a share price of only 1.83 yuan. The core reason is that major shareholders continue to reduce their holdings, and industry adjustments have led to tight capital chains.

• Insufficient liquidity: The average daily trading volume of most low-priced stocks is less than 50 million yuan. For example, the single-day trading volume of R Industrial and Financial 1 is only 8 million yuan. Once you encounter risks after buying, you may face the liquidity trap of "you want to sell but can't sell".

Huijin's position strategy precisely avoids these risks - its heavily held low-price leaders all meet the three major conditions of "positive net profit for three consecutive years, dividend rate exceeding 3%, and average daily trading volume exceeding 100 million yuan", which provides an important reference for retail investors.

2. In-depth dismantling: Huijin’s five major low-price leaders in major fields (with a list of core targets)

Combining Huijin's position data and the latest stock price trends in the second quarter of 2025, the 25 ultra-low leading stocks are mainly concentrated in the five major fields of finance, energy, infrastructure, consumption, and manufacturing. Each field has clear layout logic and core targets.

1. Financial sector: the "ballast stone" of low valuation high dividends (7 stocks)

Finance is the core sector of Huijin's layout, with over 28% of low-price leaders holding positions, focusing on banks and securities firms:

• Banking stocks: Bank of Zhengzhou (2.02 yuan), as a regional bank leader, ranks first in Henan in terms of market share in the small and micro finance field. In 2024, the non-performing loan ratio will decrease by 0.3 percentage points year-on-year, and risks will gradually be released. Although Agricultural Bank of China's stock price exceeds 2.5 yuan, as Huijin's largest holdings of banking stocks, its "agriculture, rural areas county" business layout has a policy moat, with an increase of 38.38% in the second quarter of 2025, confirming the recovery potential of the low-valuation leader.

• Brokerage stocks: Shenwan Hongyuan (2.48 yuan) is the leading fully-licensed brokerage. It will rank second in terms of the number of underwriters on the Beijing Stock Exchange in 2024. Huijin holds 2.386 billion shares. Against the backdrop of deepening capital market reforms, investment banking business is expected to continue to grow.

2. Energy and materials: “potential targets” at the bottom of the cycle (6 stocks)

Such stocks are greatly affected by industry cycles, and most of them are currently at the bottom of their valuations:

• Petroleum and petrochemicals: Petrochemical and oil services (2.03 yuan), as a leader in oil and gas engineering, has benefited from the demand for exploration and development driven by the rebound in international oil prices. In the first half of 2025, the value of newly signed contracts increased by 22% year-on-year, and the performance inflection point has begun to appear.

• Steel and papermaking: Anshan Iron and Steel Co., Ltd. (2.27 yuan) has a domestic market share of over 25% in the field of automotive sheets. With the release of new energy vehicle production capacity, demand for high-end steel products will continue to grow; Shanying International (1.82 yuan), as the leader in packaging paper, has begun to transmit the decline in pulp prices to the profit side, and the gross profit margin is expected to increase.

3. Infrastructure and manufacturing: “direct beneficiaries” of policy efforts (5 companies)

Increased investment in infrastructure has provided performance support for low-price leaders:

• Infrastructure leader: China Energy Construction (2.27 yuan) has a market value of 94.6 billion and is the absolute leader in the energy and power construction field. In the first half of 2025, new overseas orders signed exceeded 80 billion yuan, and the "Belt and Road" business accounted for 35%. China Railway (2.68 yuan), as a leader in railway material supply, has achieved asset optimization in the reform of state-owned enterprises, and its net profit will increase by 18% year-on-year in 2024.

• Equipment manufacturing: Foton Motor (2.39 yuan) is the leader in light trucks, ranking first in market share for 12 consecutive years. Sales of new energy commercial vehicles increased by 57% year-on-year, and it is gradually opening up room for growth.

4. Consumption and environmental protection: "Repair opportunities" after wrongful killing (4 animals)

Some consumer and environmental leaders are underestimated due to short-term sentiment:

• Consumption field: Supply and Marketing Daji (2.77 yuan) is deeply involved in the "urban and rural circulation" track. Driven by the rural revitalization policy, the revenue of the supermarket business will increase by 15% in the first half of 2025, with the dual advantages of "low price policy dividend".

• Environmental protection: As a leader in water affairs, Capital Environmental Protection (2.64 yuan) operates in 30 provinces and cities across the country. It has stable cash flow and a dividend rate of 4.1%. It is a typical "defensive low-price stock".

5. Pharmaceutical field: "potential stocks" that have reversed their predicament (3 stocks)

Most of the low-price leaders in the pharmaceutical sector are in the stage of fundamental repair:

• Although Kangmei Pharmaceutical (2.03 yuan) has encountered financial problems, as a leader in traditional Chinese medicine preparations, with the support of traditional Chinese medicine revitalization policies, its revenue increased by 21% quarter-on-quarter in the second quarter of 2025. Huijin has demonstrated its confidence in its transformation through long-term positions.

3. Huijin’s “low-price layout logic”: 3 stock selection criteria that retail investors can copy

As a professional investment institution, Central Huijin's logic in arranging low-priced leading stocks is not "just looking at price", but a three-dimensional system formed around "valuation-performance-policy". This is the core method that retail investors should learn the most.

1. Valuation screening: focus on “double low” targets

Huijin gives priority to stocks with "price-to-earnings ratio (PE) lower than 50% of the industry average and price-to-book ratio (PB) lower than 1 times." Take CITIC Construction Investment as an example. As a leading brokerage, its PE is only 12 times, which is far lower than the industry average of 25 times. It has become one of Huijin's top four holdings. Retail investors can use the "valuation screening" function of the trading software to quickly eliminate high price difference targets with PE higher than 30 times and PB greater than 1.5 times.

2. Performance verification: stick to the “bottom line of profitability”

"Net profit has been positive for three consecutive years and net cash flow should not be less than 10% of revenue" are the rigid targets for Huijin's layout. In comparison, Hebang Biotech (1.91 yuan) was included in the layout due to its continuous growth in net profit from 2023 to 2024; while some low-priced stocks with continuous losses were excluded. Retail investors can avoid performance minefields by checking the "income statement" and "cash flow statement" of the annual report.

3. Policy matching: keep up with the “funding trend”

Huijin's holding industries have always been in line with national strategies - CRRC and China Energy Construction, which will be key positions in 2025, are in line with policy directions such as "high-end manufacturing upgrades" and "new infrastructure acceleration". Retail investors can judge whether the target has policy support by paying attention to documents such as the "National Development and Reform Commission Major Project List" and the "14th Five-Year Plan for the Industry".

4. Practical Guide: 3 steps to avoid the trap of low-priced stocks and seize real opportunities

Faced with 25 low-priced leading stocks, blind buying may still result in losses. Combining Huijin's logic and market rules, retail investors need to do the three-step operation of "stock selection - position opening - stop loss".

1. Stock selection: eliminate three types of “fake leaders”

• Resolutely avoid companies with “no core business”: For example, some low-price stocks may have the title of “leading” but lack competitive products and their market share continues to shrink;

• Stay away from targets where "major shareholders frequently reduce their holdings": Check the shareholding record through "Oriental Fortune Network - Shareholder Research". If the major shareholder has reduced its holdings by more than 5% in the past 6 months, it will be directly excluded;

• Be wary of stocks with "continuously low trading volume": stocks with an average daily trading volume of less than 30 million yuan lack liquidity and are easily manipulated by major players. The average daily trading volume of low-priced stocks held by Huijin exceeds 100 million yuan.

2. Open a position: Adopt the "buy in batches" strategy

Low-priced stocks fluctuate greatly and are not suitable for full positions at one time. It is recommended to build a position according to the "3-3-4" ratio: buy 30% of the position for the first time, add 30% if the stock price drops by 5%, and increase to 40% after stabilizing. Taking Greenland Holdings (1.83 yuan) as an example, opening a position according to this strategy can control the cost to around 1.75 yuan and reduce risks.

3. Stop loss: Set a "double limit" discipline

• Price stop loss: sell immediately when the stock price falls below 15% of the cost of opening a position to avoid deep lock-in;

• Performance stop loss: If the company's quarterly net profit falls by more than 30% year-on-year, it will decisively leave the market regardless of whether the stock price rises or falls. This is Huijin's core strategy to deal with the deterioration of fundamentals.

Conclusion: The "investment essence" of low-priced leading stocks

The 25 leading stocks with share prices as low as 2 yuan, as well as Huijin's heavy position layout, essentially reveal a core logic of A-shares: "The price does not mean the value is high or low. The leading position low valuation is the key to long-term profits."

For retail investors, instead of chasing "hot stocks that are soaring", it is better to study these leading stocks that are undervalued by the market - they may not have the stimulation of short-term surges, but with the long-term support of institutions such as Huijin, they have the characteristics of "falling less and rising steadily". Of course, there is no absolute safety in investment. Only by mastering the method of "valuation screening-performance verification-policy matching" can we find real opportunities in low-priced stocks.