On February 10, the three major A-share indices experienced volatility. By the midday break, the Shanghai Composite Index had dipped 0.02%, the Shenzhen Component Index fell 0.02%, and the ChiNext Index declined 0.14%. The Beijing Stock Exchange 50 Index dropped over 1% during the session.
Across the board, AI application themes saw a full upward trend, with short drama games, cultural media, online gaming, virtual humans, and cybersecurity sectors broadly advancing. In contrast, the photovoltaic industry chain experienced a pullback, led by declines in the space-based solar power segment.
Bolstered by frequent positive news, the media sector continued its upward trajectory. On the morning of February 10, A-share media stocks maintained momentum from the previous session. Companies including Jiecheng Shares, Rongxin Culture, Shanghai Film, Fengyuzhu, H&R Century, Bona Film Group, and Zhangyue Technology all hit their daily 10% limit-up for a second consecutive day, while Hengdian Entertainment saw its seventh limit-up in nine trading days.
The recent launch of ByteDance's AI video generation model, Seedance 2.0, has ignited a rally in AI training data concept stocks. Reports indicate the model can produce cinematic-quality videos from text or images using a dual-branch diffusion transformer architecture, simultaneously outputting video and native audio. With a detailed prompt or single image input, it generates a complete video featuring multi-shot sequences and accompanying audio within 60 seconds.
Additionally, Doubao announced a new "Doubao Celebrates Chinese New Year" event on February 10. Starting at 8 PM on February 13, users can click to participate in a lottery for a chance to win cash red envelopes. On Chinese New Year's Eve, February 16, Doubao will also distribute over 100,000 tech gifts and cash red envelopes up to 8,888 yuan to a national audience during the Spring Festival Gala broadcast. The Doubao Index rose 2% during the trading session.
In the film and cinema sector, data from Maoyan Professional Edition showed that as of writing, pre-sales for the 2026 Spring Festival film slate had exceeded 86 million yuan. Among the new releases, "Pegasus 3" and "Awakening Silence" each surpassed 20 million yuan in pre-sales.
In individual stock movements, ST Cuihua resumed trading on February 10 but hit the daily downside limit during the call auction phase, trading at 10.77 yuan per share. As of writing, the stock remained limit-down. The decline followed an announcement the previous evening that the company had received a formal investigation notice from the China Securities Regulatory Commission (CSRC) for suspected information disclosure violations.
Meanwhile, three new stocks debuted on the market: N Dianke, N Linping, and N Aide. By midday, they had surged 564.73%, 66.05%, and 195.96%, respectively. N Dianke opened at 80.50 yuan, skyrocketing 750.05% at the open, marking it as the best-performing new listing since the start of the year. The company, a national leader in the electric energy industry under China Electronics Technology Group, focuses on providing advanced electric energy system solutions and core products, with operations spanning aerospace power supplies, specialized power supplies, and new energy applications and services.
Following its trading resumption, the silver fund experienced a significant decline. The SDIC Silver LOF fell over 6% to 3.128 yuan. The drop coincided with a broad decline in precious metals; as of writing, spot gold was down 0.43% and spot silver had fallen 1.7%.
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