Green power concept stocks advanced, with Datang International Power Generation Co.,Ltd. (601991) hitting its seventh consecutive daily limit-up. Separately, the photovoltaic equipment sector surged, with multiple stocks reaching their upside limits.
On May 14, the three major A-share indices opened higher. At the time of writing, the indices had retreated, with all three turning negative.
In terms of sector performance, communication services, power, semiconductors, consumer electronics, industrial gases, and the CPO concept were active at the open. Energy metals, medical services, precious metals, insurance, baijiu, non-ferrous metals, and oil & petrochemicals opened lower.
In the Hong Kong market, the Hang Seng Index and the Hang Seng Tech Index rose. Alibaba gained nearly 8%, Baidu Group and Montage Technology rose over 7%, while Tencent Holdings, Meituan, Xiaomi Group, and others gained more than 3%. SMIC advanced nearly 2%.
**Industrial Gases Concept Strengthens** The industrial gases concept continued its strong performance, with Peric Special Gases Co.,Ltd. (688146) hitting a 20% daily limit-up, marking its third such gain in four sessions. Wintek, Sichuan Daxu Gas Equipment, Hangyang, Guangzhou Gas, and Jiuteng Energy followed suit.
On the news front, the iteration of AI servers, advanced packaging, and HBM technology has driven a surge in the usage of silicon wafers and electronic specialty gases. Coupled with rising chemical raw material costs due to the Middle East energy crisis, semiconductor materials across all categories have entered a phase of simultaneous volume and price increases.
**Ceramic Substrate Concept Gains Momentum** The ceramic substrate concept showed repeated strength, with Monalisa achieving five consecutive limit-ups. Kexiang, Sinoma Electronic, Saiying Electronics, and Xuguang Electronics followed higher.
Analysts point out that with GPU power consumption surging, high thermal conductivity ceramic substrates have become a critical component for global AI giants to overcome chip heat dissipation bottlenecks. The global ceramic substrate market is in a phase of rapid expansion, with highly certain downstream demand release.
**Most CPO Concept Stocks Open Higher** Most CPO concept stocks opened higher. Kechuan Technology achieved three consecutive limit-ups, Gongjin Electronics hit the limit-up, while Cambridge Technology, Avary Holding, and T&F Communication opened notably higher.
Institutional research reports indicate that CPO, as the next-generation technology for optical modules, is seeing its industrial trend further strengthened as AI server interconnects demand increasingly higher data transmission efficiency. Leading global manufacturers are actively exploring related technological paths and applications.
**Green Power Sector Remains Active** The green power concept gained, with Datang International Power Generation Co.,Ltd. (601991) hitting its seventh consecutive limit-up. Jingneng Power hit the limit-up, while Jinkong Power, GCL Energy, Huadian Liaoneng, and Dongfang Xinneng followed higher.
Datang International Power Generation Co.,Ltd. issued a stock trading risk warning announcement the previous evening. As of the end of the first quarter of 2026, the company's installed capacity share for coal power, gas turbines, hydropower, wind power, and photovoltaics was 56.80%, 11.05%, 10.73%, 13.05%, and 8.37% respectively. Revenue from new energy power generation accounted for approximately 9.23%, a relatively small proportion. As of now, the company has no operational power-coordinated projects.
**Silicon Carbide Concept Active Again** The silicon carbide concept was active again. At the time of writing, Tianyue Advanced and Jingsheng Shares rose over 10%, while StarPower Semiconductor, Inno Laser, Times Electric, and Dongwei Semiconductor followed higher.
Analysts note that after a decade of validation in high-reliability scenarios like new energy vehicles and photovoltaic inverters, silicon carbide's material properties are now effectively "downscaling" to empower computing power heat dissipation. In data centers, increased computing power is driving a surge in rack power density, with SiC being applied in UPS, HVDC, SST, and other power supply equipment. Simultaneously, SiC serves as an advanced packaging thermal material, addressing GPU overheating challenges. Silicon Carbide (SiC) has become a key enabler driving technological upgrades and efficiency revolutions.
**Innovative Drug Concept Performs Well** Anglikang surged directly to a limit-up for its second consecutive session. Dorui Pharmaceutical, Sailun Biotech, Guangdong Wannianqing, Jimin Health, and GuangShengTang followed higher.
On the news front, the National Medical Products Administration released the "2025 Drug Review Report," which shows that both the number of drug registration applications and reviews concluded in China in 2025 reached record highs.
Additionally, the photovoltaic equipment sector rose, with GCL Integration and Shuangliang Energy Saving hitting limit-ups. Liancheng CNC, Laplace, Yicheng Xinneng, and Junda Shares followed suit.
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