A-shares continued their steady ascent today, with the Shanghai Composite Index rising for the seventh consecutive session. The Shenzhen Component Index, the ChiNext Index, and the CSI 300 also extended their gains for the fifth straight day. Market turnover expanded moderately to 1.94 trillion yuan.
Across the board, technology stocks surged comprehensively. Sectors including commercial aerospace, robotics concepts, artificial intelligence, and semiconductors were swept by a wave of limit-ups. Meanwhile, slight adjustments were seen in precious metals, the Hainan sector, general retail, and coal.
Real-time Wind data indicated that national defense and military industries attracted over 14.2 billion yuan in net inflows from main funds. The machinery and equipment sector saw net inflows exceeding 11.1 billion yuan, while the automotive sector garnered over 9.1 billion yuan. Computers, basic chemicals, and non-bank financials each received net inflows surpassing 3 billion yuan. Light industrial manufacturing and pharmaceuticals & biologics also attracted net inflows of over 2 billion yuan each. Conversely, the electronics sector experienced net outflows of more than 3.7 billion yuan from main funds. Communications and commercial retail saw net outflows exceeding 2.3 billion and 1.4 billion yuan, respectively.
Looking ahead, Dongxing Securities maintains that the market will continue its slow-bull trend into 2026. As economic fundamentals gradually recover, the market is expected to transition from valuation expansion to earnings growth, providing sustained upward momentum for market valuations. A-share profit growth is projected to reach around 12%. From an investment strategy perspective, the firm advises investors to maintain conviction, adopt a long-term view on major investment narratives, avoid fixating on minor cyclical adjustments and fluctuations, and actively seize opportunities based on the dual logic of sector prosperity and industrial development.
In market hotspots, commercial aerospace continued its strong performance, with the sector index hitting a new historical high. Guangzhou Haozhi Industrial Co.,Ltd. (300503) and Essence Fastening Systems(Shanghai)Co.,Ltd. (301005) both surged by the 20% daily limit shortly after the afternoon session opened. Shenjian Co., Ltd. achieved its sixth consecutive limit-up, while Chuangyuan Technology recorded its fourth. Over 40 stocks, including Gaohua Technology and China Satellite, hit the limit-up or rose more than 10%.
On the news front, the "Third China Commercial Aerospace Development Conference" was held in Beijing yesterday. The conference officially launched the Commercial Aerospace Industry Alliance Science and Technology Innovation Fund and released relevant industry data. The fund's initial issuance size is reported to be between 1 to 2 billion yuan, with plans to expand to 10 billion yuan in the long term. It has a tenure of 10 years and will execute capital deployment and project layout in phases, ultimately aiming for an exit rate of approximately 70% for its projects.
Investment focus will center on four major areas: low-orbit satellite constellations and satellite internet, reusable launch vehicles and rocket launch services, new materials and components for commercial aerospace, and the development, utilization of space resources along with emerging space services.
Furthermore, LandSpace has officially completed its IPO辅导 for the STAR Market, positioning itself to potentially become the "first share of commercial aerospace" on the board. Incomplete statistics show that since the release of the科创板 reform "1+6" policy measures, IPO辅导 filings for six commercial aerospace companies have been accepted by local authorities.
BOC International Securities noted that China's launch pace for low-orbit satellite internet constellations has recently accelerated significantly. The anticipated transition to a normalized, high-frequency launch phase for domestic commercial aerospace will provide substantial benefits to the entire industry chain.
Robotics concept stocks also witnessed widespread limit-ups today. Xiangshan Co., Ltd., Hualing Cable, Zhejiang Rongtai, and Hytera, among others, hit the limit-up in the afternoon. Nearly 30 stocks, including Effort, Qiangrui Technology, Founder Motor, and Yuejian Intelligent, reached the limit-up or rose over 10%.
Ubtech, dubbed the "first humanoid robot stock," announced the acquisition of 93.96 million shares of Shenzhen-listed Fenglong Co., Ltd. through a combination of "agreement transfer + tender offer." Upon completion, Ubtech will hold a total of 43.01% of shares, becoming the controlling shareholder of the listed company.
Additionally, according to the CSRC's IPO辅导 disclosure system, Cloud Deep, one of the "Hangzhou Six Little Dragons," submitted an IPO辅导 filing to the Zhejiang Securities Regulatory Bureau on the 24th, with China Securities Co., Ltd. acting as the辅导 sponsor.
IDC forecasts that user spending on embodied intelligent robots in China will exceed $1.4 billion by 2025 and is expected to surge to $77 billion by 2030, representing a compound annual growth rate of 94%.
Huaxin Securities stated that the humanoid robot industry is accelerating its transition from technological R&D to large-scale commercial application. It recommends monitoring potential inflection points for order explosions from leading whole-machine manufacturers and simultaneously paying attention to companies with core component manufacturing capabilities, whose orders are expected to scale rapidly alongside shipments from whole-machine manufacturers.
Comments