On February 13, the three major A-share indices experienced a volatile decline. By the market close, the Shanghai Composite Index had dropped 1.26%, the Shenzhen Component Index fell 1.28%, and the ChiNext Index declined 1.57%, while the STAR Composite Index decreased by 0.38%.
In terms of market performance, the military equipment sector saw substantial gains, with Anda维尔 surging by the 20% daily limit, and stocks like Yaxing Anchor Chain and Aero Engine Corporation of China also hitting the limit-up. The film and cinema sector staged an afternoon rebound against the broader market trend. Beijing Enlight Media Co.,Ltd. (300251) surged more than 15%, while Bona Film Group experienced a sharp upward move. Conversely, the photovoltaic equipment sector faced a pullback, with Shuangliang Energy Saving falling by the daily limit.
Additionally, sectors such as computer equipment, papermaking, and semiconductors were among the top gainers, while small metals, steel, port shipping, and oil and gas exploration led the declines. The total market turnover approached 2 trillion yuan, shrinking by over 150 billion yuan compared to the previous trading session, with more than 3,800 stocks closing lower.
With the Spring Festival holiday approaching, box office performance for the holiday period is drawing significant attention. Presales for the 2026 Spring Festival film season have officially commenced, with titles including "Silent Awakening," "Biao Ren: Desert Storm," "Pegasus 3," "Starry Dreams," "Panda Plan: Tribal Adventure," and "Boonie Bears: Forever Bears" leading the new releases in pre-sale box office rankings. According to data from online platforms, as of 15:00 on the 12th, pre-sales for the 2026 Spring Festival film season had already exceeded 160 million yuan, setting a fervent tone for the holiday period.
China Galaxy Securities released a research report stating that all films in the 2026 Spring Festival lineup are domestic productions, including several titles based on popular domestic intellectual properties. The report suggests that the strong pre-sale performance is closely linked to high audience recognition of these IPs. The continuous development of sequels from high-value IPs is expected to encourage the emergence of more excellent new IPs.
Recently, ByteDance launched its new-generation AI video generation model, Seedance 2.0, identifying the gaming and film industries as key application areas.
BOC Securities noted that ByteDance's introduction of Seedance 2.0 represents a significant leap in model capabilities, advancing video generation from simply "producing a sequence of visuals" to "completing a coherent work." Enhancements include automated storyboarding and camera work, comprehensive multi-modal referencing, synchronized audio-visual generation, and multi-shot narrative abilities. The model's usability rate for generating a 15-second video may reach 90%, a substantial improvement from the previous industry average of around 20%. This advancement is anticipated to significantly reduce production costs; for example, the cost of a 90-minute video project could drop from over 10,000 yuan to approximately 2,000 yuan. As AI technologies like Seedance 2.0 lower costs and enhance output quality, the animation and drama industry is poised for accelerated development.
Looking ahead to the Year of the Horse market trends, Yang Delong, Chief Economist and Fund Manager at Qianhai Open Source Fund, expressed that the Year of the Horse行情 is imminent. Furthermore, 2026 marks the beginning of the 15th Five-Year Plan period, during which sectors explicitly highlighted for scientific and technological innovation in the plan outline are expected to perform well. Therefore, the rally in technology stocks is likely to continue, remaining one of the primary investment themes, though not the sole one. As more capital enters the market through direct account openings or fund purchases, it will bring additional incremental funds, potentially driving a further deepening of the current market rally.
Comments