<h3>关键洞察</h3>
<ul>
<li>由于机构在该股票中持有大量股份，九电工的股价可能会受到其交易决策的影响</li>
<li>前 11 大股东持有 51% 的股份</li>
<li>结合分析师预测数据和股东研究，可以更好地评估公司的未来表现</li>
</ul>
<p>每位九电工（TSE:1959）的投资者都应该了解最强大的股东群体。而持有最大股份的群体是机构投资者，拥有 38% 的股份。换句话说，这个群体在对公司的投资中最有可能获得最大收益（或遭受最大损失）。</p>
<p>因此，上周机构投资者在市值下降 130 亿日元后遭受了最大的损失。不用说，最近的损失进一步加重了股东一年来 16% 的损失，尤其对于这一类股东来说，可能不会太好。通常被称为 “市场推动者”，机构在影响任何股票的价格动态方面拥有显著的权力。因此，如果这种下降持续，机构投资者可能会受到压力出售九电工，这可能会对个人投资者造成伤害。</p>
<p>在下面的图表中，我们聚焦于九电工的不同股东群体。</p>
<p>查看我们对九电工的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154"/></p>
<p>TSE:1959 股东结构 2025 年 2 月 19 日</p>
<h2>机构持股对九电工的启示是什么？</h2>
<p>机构通常在向自己的投资者报告时会以基准进行衡量，因此一旦某只股票被纳入主要指数，他们往往会对该股票更加热衷。我们预计大多数公司在登记时会有一些机构投资者，尤其是当它们正在增长时。</p>
<p>我们可以看到九电工确实有机构投资者，他们持有公司相当一部分的股票。这可能表明该公司在投资界具有一定的信誉。然而，最好对依赖机构投资者所带来的所谓验证保持警惕。他们有时也会犯错。如果两家大型机构投资者同时试图抛售某只股票，股价大幅下跌并不罕见。因此，查看九电工过去的盈利轨迹是值得的（见下文）。当然，也要记住还有其他因素需要考虑。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545"/></p>
<p>TSE:1959 盈利和收入增长 2025 年 2 月 19 日</p>
<p>对冲基金在九电工的股份不多。根据我们的数据，最大股东是九州电力公司，持有 23% 的流通股份。同时，第二和第三大股东分别持有 4.8% 和 4.6% 的流通股份。</p>
<p>仔细查看我们的持股数据，前 11 大股东的合计持股为 51%，这意味着没有单一股东拥有多数股份。</p>
<p>研究机构持股是评估和筛选股票预期表现的好方法。通过研究分析师的情绪也可以实现这一点。相当多的分析师覆盖该股票，因此您可以很容易地查看预测增长。</p>
<h2>九电工的内部持股</h2>
<p>虽然内部人的确切定义可能是主观的，但几乎所有人都认为董事会成员是内部人。公司管理层向董事会负责，而董事会应代表股东的利益。值得注意的是，有时高层管理人员本身也在董事会中。</p>
<p>我通常认为内部持股是件好事。然而，在某些情况下，这使得其他股东更难让董事会对决策负责。</p>
<p>我们的信息表明，九电工的内部人持有不到 1% 的股份。它是一家大公司，因此即使是小比例的利益也能在董事会和股东之间创造一致性。在这种情况下，内部人持有价值 5.57 亿日元的股份。看到至少一些内部持股总是好的，但值得检查这些内部人是否在出售。</p>
<h2>公众持股</h2>
<p>公众，通常是个人投资者，持有九电工 35% 的股份。虽然这个持股比例相当可观，但如果决策与其他大股东不同，可能不足以改变公司政策。</p>
<h2>公众公司持股</h2>
<p>我们可以看到公众公司持有 24% 的九电工股份。这可能是出于战略利益，两家公司可能有相关的商业利益。它们可能已经进行过分拆。这个持股可能值得进一步调查。</p>
<h2>下一步：</h2>
<p>我发现研究谁真正拥有一家公司非常有趣。但要真正获得洞察，我们还需要考虑其他信息。例如，我们已经确定了 <strong>九电工的 1 个警示信号</strong>，您应该注意。</p>
<p>如果您像我一样，您可能想考虑这家公司是会增长还是缩小。幸运的是，您可以查看这份免费的报告，了解分析师对其未来的预测。</p>
<p>注：本文中的数据是根据过去 12 个月的数据计算的，指的是财务报表日期所在月份的最后一天结束的 12 个月期间。这可能与全年年报数据不一致。</p>

1959

<p>九电控股公司（东京证券交易所代码：1959）股价下跌 3.7%，导致一年内损失达到 16%。持有 38% 股份的机构投资者受到特别影响，市值下降了 130 亿日元。前 11 大股东拥有公司 51% 的股份，显示出对股价动态的显著影响。虽然机构持股可以传递出可信度，但如果大型投资者同时决定出售，也会带来风险。公众持有 35% 的股份，上市公司持有 24%，但与机构股东相比，他们的影响力可能有限</p>

<h3>Key Insights</h3>
<div class="lb-trans"><h3>关键洞察</h3>
</div><ul>
<li>Given the large stake in the stock by institutions, Kyudenko's stock price might be vulnerable to their trading decisions</li>
<li>51% of the business is held by the top 11 shareholders</li>
<li>Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company</li>
</ul>
<div class="lb-trans"><ul>
<li>由于机构在该股票中持有大量股份，九电工的股价可能会受到其交易决策的影响</li>
<li>前 11 大股东持有 51% 的股份</li>
<li>结合分析师预测数据和股东研究，可以更好地评估公司的未来表现</li>
</ul>
</div><p>Every investor in Kyudenko Corporation (TSE:1959) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are institutions with 38% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.</p>
<div class="lb-trans"><p>每位九电工（TSE:1959）的投资者都应该了解最强大的股东群体。而持有最大股份的群体是机构投资者，拥有 38% 的股份。换句话说，这个群体在对公司的投资中最有可能获得最大收益（或遭受最大损失）。</p>
</div><p>As a result, institutional investors endured the highest losses last week after market cap fell by JP¥13b. Needless to say, the recent loss which further adds to the one-year loss to shareholders of 16% might not go down well especially with this category of shareholders. Often called “market movers&#34;, institutions wield significant power in influencing the price dynamics of any stock. As a result, if the decline continues, institutional investors may be pressured to sell Kyudenko which might hurt individual investors.</p>
<div class="lb-trans"><p>因此，上周机构投资者在市值下降 130 亿日元后遭受了最大的损失。不用说，最近的损失进一步加重了股东一年来 16% 的损失，尤其对于这一类股东来说，可能不会太好。通常被称为 “市场推动者”，机构在影响任何股票的价格动态方面拥有显著的权力。因此，如果这种下降持续，机构投资者可能会受到压力出售九电工，这可能会对个人投资者造成伤害。</p>
</div><p>In the chart below, we zoom in on the different ownership groups of Kyudenko.</p>
<div class="lb-trans"><p>在下面的图表中，我们聚焦于九电工的不同股东群体。</p>
</div><p>Check out our latest analysis for Kyudenko</p>
<div class="lb-trans"><p>查看我们对九电工的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154" alt="" original-src="https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154"/></p>
<p>TSE:1959 Ownership Breakdown February 19th 2025</p>
<div class="lb-trans"><p>TSE:1959 股东结构 2025 年 2 月 19 日</p>
</div><h2>What Does The Institutional Ownership Tell Us About Kyudenko?</h2>
<div class="lb-trans"><h2>机构持股对九电工的启示是什么？</h2>
</div><p>Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.</p>
<div class="lb-trans"><p>机构通常在向自己的投资者报告时会以基准进行衡量，因此一旦某只股票被纳入主要指数，他们往往会对该股票更加热衷。我们预计大多数公司在登记时会有一些机构投资者，尤其是当它们正在增长时。</p>
</div><p>We can see that Kyudenko does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Kyudenko, (below). Of course, keep in mind that there are other factors to consider, too.</p>
<div class="lb-trans"><p>我们可以看到九电工确实有机构投资者，他们持有公司相当一部分的股票。这可能表明该公司在投资界具有一定的信誉。然而，最好对依赖机构投资者所带来的所谓验证保持警惕。他们有时也会犯错。如果两家大型机构投资者同时试图抛售某只股票，股价大幅下跌并不罕见。因此，查看九电工过去的盈利轨迹是值得的（见下文）。当然，也要记住还有其他因素需要考虑。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545" alt="" original-src="https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545"/></p>
<p>TSE:1959 Earnings and Revenue Growth February 19th 2025</p>
<div class="lb-trans"><p>TSE:1959 盈利和收入增长 2025 年 2 月 19 日</p>
</div><p>Hedge funds don't have many shares in Kyudenko. Looking at our data, we can see that the largest shareholder is Kyushu Electric Power Company, Incorporated with 23% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 4.8% and 4.6%, of the shares outstanding, respectively.</p>
<div class="lb-trans"><p>对冲基金在九电工的股份不多。根据我们的数据，最大股东是九州电力公司，持有 23% 的流通股份。同时，第二和第三大股东分别持有 4.8% 和 4.6% 的流通股份。</p>
</div><p>A closer look at our ownership figures suggests that the top 11 shareholders have a combined ownership of 51% implying that no single shareholder has a majority.</p>
<div class="lb-trans"><p>仔细查看我们的持股数据，前 11 大股东的合计持股为 51%，这意味着没有单一股东拥有多数股份。</p>
</div><p>Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.</p>
<div class="lb-trans"><p>研究机构持股是评估和筛选股票预期表现的好方法。通过研究分析师的情绪也可以实现这一点。相当多的分析师覆盖该股票，因此您可以很容易地查看预测增长。</p>
</div><h2>Insider Ownership Of Kyudenko</h2>
<div class="lb-trans"><h2>九电工的内部持股</h2>
</div><p>While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.</p>
<div class="lb-trans"><p>虽然内部人的确切定义可能是主观的，但几乎所有人都认为董事会成员是内部人。公司管理层向董事会负责，而董事会应代表股东的利益。值得注意的是，有时高层管理人员本身也在董事会中。</p>
</div><p>I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.</p>
<div class="lb-trans"><p>我通常认为内部持股是件好事。然而，在某些情况下，这使得其他股东更难让董事会对决策负责。</p>
</div><p>Our information suggests that Kyudenko Corporation insiders own under 1% of the company. It's a big company, so even a small proportional interest can create alignment between the board and shareholders. In this case insiders own JP¥557m worth of shares. It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling.</p>
<div class="lb-trans"><p>我们的信息表明，九电工的内部人持有不到 1% 的股份。它是一家大公司，因此即使是小比例的利益也能在董事会和股东之间创造一致性。在这种情况下，内部人持有价值 5.57 亿日元的股份。看到至少一些内部持股总是好的，但值得检查这些内部人是否在出售。</p>
</div><h2>General Public Ownership</h2>
<div class="lb-trans"><h2>公众持股</h2>
</div><p>The general public, who are usually individual investors, hold a 35% stake in Kyudenko. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.</p>
<div class="lb-trans"><p>公众，通常是个人投资者，持有九电工 35% 的股份。虽然这个持股比例相当可观，但如果决策与其他大股东不同，可能不足以改变公司政策。</p>
</div><h2>Public Company Ownership</h2>
<div class="lb-trans"><h2>公众公司持股</h2>
</div><p>We can see that public companies hold 24% of the Kyudenko shares on issue. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further.</p>
<div class="lb-trans"><p>我们可以看到公众公司持有 24% 的九电工股份。这可能是出于战略利益，两家公司可能有相关的商业利益。它们可能已经进行过分拆。这个持股可能值得进一步调查。</p>
</div><h2>Next Steps:</h2>
<div class="lb-trans"><h2>下一步：</h2>
</div><p>I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For instance, we've identified <strong>1 warning sign for Kyudenko</strong> that you should be aware of.</p>
<div class="lb-trans"><p>我发现研究谁真正拥有一家公司非常有趣。但要真正获得洞察，我们还需要考虑其他信息。例如，我们已经确定了 <strong>九电工的 1 个警示信号</strong>，您应该注意。</p>
</div><p>If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.</p>
<div class="lb-trans"><p>如果您像我一样，您可能想考虑这家公司是会增长还是缩小。幸运的是，您可以查看这份免费的报告，了解分析师对其未来的预测。</p>
</div><p>NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.</p>
<div class="lb-trans"><p>注：本文中的数据是根据过去 12 个月的数据计算的，指的是财务报表日期所在月份的最后一天结束的 12 个月期间。这可能与全年年报数据不一致。</p>
</div>

由于 Kyudenko Corporation（TSE:1959）最近下跌了 3.7%，增加了一年的损失，机构所有者可能会采取戏剧性的行动