The market rebounded in the afternoon, with all three major indices in positive territory and the ChiNext Index showing a stronger trend. The total trading volume of the Shanghai and Shenzhen stock exchanges reached 269 billion yuan, an increase of 91 billion yuan from the previous trading day. Futures-wise, market hotspots rapidly rotated, with over 3,500 stocks rising across the board. In terms of sectors, the commercial aerospace concept surged, with nearly 20 component stocks hitting the daily limit, including Julisuoju which hit two consecutive daily limits, as well as Shunhao Co., Ltd., Zhongchao Holdings, and Western Materials. The oil and gas concept continued to be strong, with Continental Oil hitting two consecutive daily limits. The coal sector was active, with Dayou Energy hitting two daily limits within three days. The PCB concept quickly rose, with Avary Holding and other stocks hitting the daily limit. On the downside, insurance, semiconductors, and pharmaceuticals were among the leading decliners. Specifically, the innovative drug concept collectively fell, with Adi Pharmaceuticals and Huisheng Bio experiencing significant declines. At the close, the Shanghai Composite Index rose 0.14%, the Shenzhen Component Index rose 0.5%, and the ChiNext Index rose 1.01%. In terms of sectors Commercial aerospace saw a collective rebound today, with Trigon Defense, Keshun Co., Ltd., Julisuoju, Great Wall Electric, Zaisen Technology, Shunhao Co., Ltd., and Western Materials among the stocks hitting the daily limit. On the news front, recently, GalaxySpace, iSpace, and Tianbing Tech, three commercial aerospace enterprises, updated their progress on listing guidance. Coupled with LandSpace's IPO application being accepted and CAS Space completing its guidance filing, five core enterprises mainly operating carrier rockets have all entered the race, vying for the title of "the first commercial aerospace stock." Aijian Securities stated that 2026 is expected to become the inaugural year of prosperity for China's commercial aerospace industry, with the pace of multiple constellation launches accelerating towards large-scale deployment. It is anticipated that the frequency of rocket launches will rise rapidly. The market size of China's commercial rocket launch services is projected to increase from 10.26 billion yuan in 2025 to 47.39 billion yuan in 2030, corresponding to a CAGR of about 35.8%. From a market perspective, after undergoing continuous adjustments, the short-term selling pressure in the commercial aerospace sector has been relatively fully released. As short-term sentiment continues to recover, it once again attracts concentrated capital inflows for recovery. However, it should be noted that the current market still revolves around rotation and also faces the test of earlier trapped positions. The difficulty for the commercial aerospace sector to initiate a new round of momentum in the short term remains high. After the initial broad-based recovery, only a few individual stocks may manage to sustain a breakout performance. The oil and gas concept remained strong, with Continental Oil and PT. Blue Flame Ruilong hitting the daily limit, and Sinopec Oilfield Services, Potential Energy, Zhongman Petroleum, and New Natural Gas among the top gainers. On the news front, on January 22, the Brent crude oil benchmark price by Business Society stood at $64.92 per barrel, up 5.85% from the beginning of the month ($61.33 per barrel). In a recent research report, West Securities reviewed the past three Kondratiev depression periods and found that super cycles of commodities exhibited distinct rotation patterns. Gold led the way in rising, and industrial metals also enjoyed a "safety premium," while energy prices, such as oil, may lag slightly. Given that the strategic oil inventories of the US and OECD have sharply pulled back to historical lows, and the gold-to-oil and copper-to-oil ratios have rapidly risen to historical highs, oil is now significantly undervalued compared to other commodities. The PCB sector strengthened again, with Shenzhen Chongda Technology, Shanghai Jinan Guoji, Avary Holding, and Honghe Technology hitting the daily limit, while Sihui Fushi, Zhongjing Electronics, Shennan Circuit, and Shengyi Technology were among the top gainers. On the news front, it was reported that due to tight supply and soaring prices of raw materials like fiberglass cloth, Japanese semiconductor material manufacturer Resonac announced an increase in the selling price of copper clad laminate (CCL), adhesive films, and other printed circuit board (PCB) materials by over 30% starting from March 1st. GF Securities pointed out that robust AI demand has driven both volume and price increases for PCBs, with AI-PCB companies seeing strong orders, full production, and capacity expansion. The demand for AI CCL is robust, and leading mainland producers are expected to benefit. In terms of individual stocks, from an individual stock perspective, short-term sentiment further recovered today. In the high-standard direction, Fenglong Co., Ltd. rarely achieved 17 consecutive daily limits, and Jiamai Packaging, after another daily limit today, recorded 17 daily limits in 25 days. Additionally, stocks that previously experienced A-shaped declines also saw anti-nuclear recovery, with Guosheng Technology being the most typical, performing a ground-to-ceiling move in the afternoon. Other stocks like Galaxy Electronics, Western Materials, Shunhao Co., and Zaisheng Technology also hit the daily limit, indicating that the previous round of short-term correction has largely concluded. However, it should be noted that during the rapid adjustment, related stocks accumulated significant overhang, and it may be challenging to fully resolve this in the short term. Focus on active stocks with relatively intact chip structures. Additionally, computing hardware stocks also rebounded, with Tengjing Technology and Avary Holding hitting the daily limit, while ZJX Innovations, Shengyi Electronics, Yuanjie Technology, and Eoptolink also saw notable gains. Late January is a period of intensive annual report previews for major publicly listed firms, and performance will once again become a key factor influencing the market. More funds are choosing to flow back into growth tracks with better earnings certainty, and there are still opportunities to find low-entry points during the upward oscillation. Market outlook, today's market showed a rebound, with all three major indices in positive territory, and the ChiNext Index performed strongly, with a slight increase in trading volume. Short-term sentiment also further recovered, with over a hundred stocks hitting the daily limit or rising more than 10% for two consecutive days, and the number of stocks experiencing sharp declines further decreased. It is expected that there is still momentum for short-term recovery, but it is likely to face oscillation and volatility. From the index perspective, the high points left on January 14th remain a key focus. If these can be effectively surpassed during the upward oscillation, with sufficient turnover of chips, it would be more conducive to the continuation of the market trend. From the perspective of the futures market, although short-term sentiment has recovered, the overall market is still dominated by rotation. Various hot topics often experience a certain degree of short-term divergence and consolidation after reaching a climax within a single day. Therefore, keeping pace accurately in response may be key, with a focus on seeking buying opportunities during pullbacks in popular sectors, which often yields a higher win rate. Market Highlights 1. SpaceX's Second-Generation Starlink System Scheduled for 2027, Aiming to Provide Faster Internet Services SpaceX plans to launch its second-generation Starlink system in 2027, aiming to provide faster internet services. The second-generation system is expected to offer 5G-like connectivity, with an overall capacity more than 100 times greater than the first generation and a throughput increase of over 20 times. Based on current progress, the US Federal Communications Commission (FCC) approved SpaceX's application this month to deploy an additional 7,500 second-generation Starlink satellites, further enhancing its global internet service capabilities. 2. Beijing Chuanyuezhe Company Books First Batch of Over 20 Space Tourists, Manned Maiden Flight Expected in 2028 Beijing Chuanyuezhe Manned Space Technology Co., Ltd. held a "Global Space Tourism Launch Event," where the full-scale test module of China's first commercial manned spacecraft, "Chuanyuezhe Yi Hao (CYZ1)," was publicly displayed for the first time. The technical team of "Chuanyuezhe Yi Hao (CYZ1)" stated before the event that over three spacecraft have been booked, totaling more than 20 space tourists, with the manned maiden flight expected to take place in 2028. During the event, the first batch of space tourists was introduced, including Li Licheng, academician of the Chinese Academy of Engineering; Qiu Heng, CMO of Agibot; Wang Jing, founder of the Toread brand; Fu Zhekuan, chairman of Qifu Capital; and additionally, one silicon-based lifeform, the PM01 from Zhongqing Robot. Previously, on January 18, Chuanyuezhe announced that the test module of the manned spacecraft had completed comprehensive verification tests of the landing buffer system, with all indicators meeting expected targets. This signifies that Chuanyuezhe has become the third commercial aerospace enterprise globally to develop and validate manned spacecraft landing buffer technology.

Analyzing Market Strategies to Position for and Drive Up September Copper Prices

[smm zinc morning meeting summary: us dollar index rises, lme zinc records a small bearish candlestick]: overnight, lme zinc opened at $2,799/mt. at the beginning of the session, lme zinc briefly rose to $2,805.5/mt. subsequently, with increased short positions, lme zinc fluctuated downward, reaching a low of $2,773/mt during european trading hours. it finally closed down at $2,784/mt, falling by $12.5/mt, or 0.45%. trading volume decreased to 8,911 lots, while open interest increased by 3,010 lots to 194,000 lots.

The market experienced a sharp dive in the afternoon, with the three major indices showing mixed changes. The Shanghai Composite Index hit a new intra-year high during the trading session, while high-flying stocks like Dongxin Heping collectively plummeted. The total trading volume on the Shanghai and Shenzhen stock exchanges reached 1.84 trillion yuan, an increase of 41.1 billion yuan from the previous trading day. On the futures / futures market, hot topics were rather scattered, with more stocks declining than rising. Over 3,500 stocks across the market fell. Film and television stocks collectively surged, with Xingfu Lanhai achieving three consecutive 20CM limit-up boards. Oil and gas stocks oscillated and strengthened, with Qianneng Hengxin rising over 10%. Infant and child concept stocks rebounded, with Beingmate achieving a limit-up board. By the close of trading, the Shanghai Composite Index rose 0.17%, the Shenzhen Component Index fell 0.77%, and the ChiNext Index dropped 1.62%. In terms of sectors, film and cinema stocks remained strong throughout the day. Xingfu Lanhai achieved four 20CM limit-up boards in five days, while Jinyi Film and Television, Ciwen Media, Beijing Culture, Shanghai Film Group, and Enlight Media led the gains. News-wise, as of 15:00 on July 29, the total box office revenue for the 2025 summer movie season (from June to August) had exceeded 5.5 billion yuan. Among them, "Nanjing Photo Studio" stood out with exceptional performance. Since its official release on July 25, the film's market popularity has continued to soar, with box office revenue exceeding 600 million yuan in just five days. China Post Securities stated that as the summer movie season progresses, the film market is entering the most critical peak viewing period of the year. After a period of market adjustment, the summer movie season's box office data is expected to significantly improve with the release of multiple blockbuster films, sending positive signals for a comprehensive recovery in the film industry. However, it should be noted that the film and television sector has actually experienced several consecutive days of gains. The current situation of a comprehensive spread to mid- and lower-tier stocks may be seen as a signal of sentiment reaching a climax. Therefore, it is anticipated that the market may experience some differentiation in the future. Thus, it is still advisable to focus on the most core front-runner stocks in this direction. Oil and gas stocks oscillated and strengthened, with Qianneng Hengxin rising over 10%, and Keli Petroleum, Tongyuan Petroleum, Zhunyou Petroleum, and Shouhua Gas leading the gains. News-wise, on July 29 local time, international oil prices closed sharply higher. The most-traded contract for NYMEX crude oil futures briefly approached $70 per barrel during the trading session, closing with a gain of nearly 4%. Dongwu Futures pointed out that the traditional peak consumption season and diesel shortages can support the market in resisting supply increases in the short term, with the market sentiment remaining strong amid short-term supply-side disruptions. However, the long-term outlook remains bearish, which will become increasingly evident after the peak season ends. Attention should be paid to OPEC+'s September production policy. Infant and child concept stocks rebounded, with Beingmate, Yangguang Dairy, and Taimusi achieving limit-up boards, while Qishi Dairy, Runyang Technology, and Kangzhi Pharmaceutical leading the gains. News-wise, the State Council Information Office held a press conference at 14:00 today to introduce the childcare subsidy system and childbirth support measures. Infants born after January 1, 2022 who meet the eligibility criteria can receive childcare subsidies. Market-wise, despite yesterday's jump initially and then pull back in infant-related concept stocks, some individual counters still managed rapid capital-driven rebound repairs, indicating sustained market recognition for this theme. Beyond film and infant concepts, retail, F&B, and tourism segments within the broader consumption sector also showed localized activity. Compared to already elevated pharmaceutical and computing hardware sectors, consumption plays' relative valuation advantages stand out. Should capital rotation toward laggards materialize, catch-up opportunities within consumption stocks remain noteworthy. Stock performance High-momentum thematic stocks saw intensified divergence today. Stablecoin concept stocks led declines, with Dongxin Peace and Bank of China Securities hitting limit-downs, while Tianyang Tech, SDIC Intelligence, CNPC Capital, and Hengbao also ranked among top losers. The rare earth permanent magnets sector likewise faced adjustments, with Shenghe Resources and Huahong Tech both sliding over 8%. Additionally, high-profile counters like Construction Industry, Tuoshan Heavy Industry, and China Tungsten High-tech closed limit-down. Conversely, consecutive limit-up stocks showed recovery signs. Beyond Tibet Tourism extending the height to 8 boards, only one of yesterday's eight 2-board stocks closed lower, lifting the advancement rate above 60%. Some consumption stocks also began attracting capital inflows, with film, infant (dairy), and retail segments active during today's session, suggesting gradual rotation toward undervalued plays. Against this backdrop, low-position stocks exhibiting abnormal volume and strength may become focal points. Outlook Indices plunged intraday before partial buy-side support emerged, leaving only the SSE marginally higher while the recently strongest ChiNext Index dropped over 1.6% on heavy volume. Index-wise, following today's high-volume afternoon divergence, tomorrow's movement proves critical. Timely recovery could sustain the fluctuating uptrend, whereas extended pullbacks may heighten near-term consolidation risks, warranting corresponding risk controls. Futures market perspective, although negative capital feedback emerged in some high-profile stocks today, potentially curbing chase sentiment, core heavyweight counters in computing hardware and innovative pharmaceuticals maintained relative strength at close. Full sentiment retreat appears unlikely, leaving structural opportunities during thematic rotation. Market highlights 1. CPC Politburo: Enhance domestic capital market attractiveness and inclusiveness, consolidate stabilization momentum The CPC Politburo meeting on July 30 emphasized continued risk prevention and resolution in key areas. Implement the spirit of the Central Urban Work Conference and carry out high-quality urban renewal. Actively and prudently resolve the debt risks of local governments, strictly prohibit the addition of new hidden debts, and vigorously, orderly, and effectively promote the exit of local financing platforms from the market. Enhance the attractiveness and inclusiveness of China's domestic capital market and consolidate the momentum of its stabilization and improvement. 2. Political Bureau of the CPC Central Committee: Regulate Disorderly Competition Among Enterprises in Accordance with Laws and Regulations, and Promote Capacity Management in Key Industries The Political Bureau of the CPC Central Committee held a meeting on July 30, which pointed out the need to unwaveringly deepen reforms. We should adhere to scientific and technological innovation to lead the development of new quality productive forces, accelerate the cultivation of emerging pillar industries with international competitiveness, and promote the in-depth integration of scientific and technological innovation and industrial innovation. We should advance the construction of a unified national market, and continuously optimize the order of market competition. Regulate disorderly competition among enterprises in accordance with laws and regulations. Promote capacity management in key industries. Standardize local investment attraction behaviors. Adhere to the "two unwavering principles" and stimulate the vitality of various business entities.

The market rose in volatile trading throughout the day, with all three major indices hitting new annual closing highs. The Shanghai Composite Index closed above 3,600 points. The combined turnover of Shanghai and Shenzhen markets reached 184 billion yuan, shrinking by 19.9 billion yuan from the previous session. Sector-wise, market hotspots appeared fragmented, with more stocks gaining than declining—over 4,300 stocks advanced across the board. The Hainan Free Trade Port concept stocks collectively surged, with Hainan Airport and over 20 others hitting limit-up. Rare earth permanent magnet concept stocks rallied again, with Rising Nonferrous Metals reaching limit-up. Super hydropower concept stocks bottomed out and rebounded, with PowerChina and multiple others hitting limit-up. At the close, the Shanghai Composite gained 0.65%, the Shenzhen Component rose 1.21%, and the ChiNext Index climbed 1.5%. By sector Hainan concept stocks staged a full-scale breakout, with Kangzhi Pharmaceutical, China Tourism Group Duty Free, Hainan Airport, Hainan Development, Luoniushan, HNA Infrastructure and over 20 others hitting limit-up. The National Development and Reform Commission (NDRC) announced that the specific timeline for the customs closure of Hainan Free Trade Port will officially commence on December 18, 2025. CITIC Securities believes the offshore duty-free policy offers greater flexibility regarding both duty-free quotas and policy restrictions for entering the "second line." The continued implementation of this policy will maintain its competitive edge. More fundamentally, from a commercial perspective, the leading advantage in core property layout, supply chain resources, and superior operational capabilities form the foundational support. Offshore duty-free operators that complete their commercial layouts first will retain their dominant position in Hainan's retail market. Market-wise, Hainan-related concept stocks underwent significant adjustments yesterday due to profit-taking after the policy announcement, but managed to complete a swift rebound today. With relatively sufficient turnover in chips, the sustainability of this theme appears more promising. However, after over 20 limit-ups in the sector today, short-term divergence may emerge due to excessive consensus, warranting close attention to leading core targets. The rare earth sector led gains throughout the session, with Bao Gang United Steel, Chengxin Lithium, Zhong Ke San Huan, and Rising Nonferrous Metals hitting limit-up, while JL MAG Rare-Earth, China Northern Rare Earth, and China Rare Earth Holdings ranked among top gainers. Driven by rising Pr-Nd alloy selling prices and the current relatively euphoric short-term market sentiment, rare earth magnetic materials—a high-beta pro-cyclical segment within nonferrous metals—have delivered standout performance recently. Guojin Securities noted in its weekly industry report that rare earths, as core strategic resources for modern industry, hold irreplaceable value in high-end manufacturing. The sector benefits from strengthening supply tightness expectations, gradually recovering demand, and persistently high overseas prices. Lithium mine stocks also rose in volatile trading, with Tibet Mineral Development, Tianqi Lithium, and Chengxin Lithium hitting limit-up, while Huayou Cobalt, Ganfeng Lithium, and Tibet Summit Resources ranked among top gainers. Guotai Futures noted that benefiting from the NEV industry chain's "anti-rat race" policies, lithium prices may shift from macro-driven to policy-driven upward momentum. Additionally, Zangge Mining recently announced its wholly-owned subsidiary received a notice to halt lithium resource development, potentially optimizing supply. With lithium battery installations maintaining rapid growth and lithium ore industry supply showing optimization, the sector is expected to gradually emerge from its darkest period. Stock-wise , the super hydropower concept initially faced divergence at market open but quickly bottomed out. Core stock PowerChina surged by the daily limit again, achieving four consecutive limit-ups with turnover exceeding 15 billion. China Energy Engineering, CRCC Heavy Industry and other capacity stocks also rebounded from negative territory, while China Design Group staged an "intraday reversal" in the afternoon. Over 10 stocks including Tibet Tianlu, Gaozheng Explosive, Sany Heavy Industry, Sinochem Rock & Soil, CREC Industrial, Sobute New Materials also maintained limit-ups. The concept's transition from divergence to consensus demonstrated its short-term dominance. Particularly, leading stocks maintained strong popularity relative to core plays, suggesting further upside momentum. However, as yesterday's article mentioned, mid-to-back-tier stocks showed weaker recovery and are gradually being phased out, indicating future super hydropower trends may focus more on core clustering patterns. Outlook , all three major indices rose again today, with the Shanghai Composite closing above 3,600 points while the Shenzhen Component and ChiNext hit new annual highs. Trading volume remained above 180 billion. Overall, after yesterday's divergent expansion, today's swift recovery confirmed robust market resilience. Unless the 5-day moving average is effectively breached, indices should maintain their oscillating upward trajectory. Futures market-wise, the super hydropower and "anti-rat race" themes are becoming clearer dual mainlines, likely dominating future hot topics. Leading stocks may serve as key sentiment barometers—their sustained strength could present catch-up opportunities in related subsectors, whereas significant breakdowns in high-profile large-caps might signal thematic retreat. Market Highlights 1. Two ministries solicit public comments on the "Price Law Amendment Draft (Consultation Paper)" The NDRC and State Administration for Market Regulation released the "Price Law Amendment Draft (Consultation Paper)" for public feedback, addressing new situational demands. The draft opinion proposes that the current situation facing price work has undergone significant changes, with prices for the vast majority of goods and services now being determined by the market. New economies, new business formats, and new models continue to emerge, and the issue of low-price and disorderly competition in some industries has become prominent, posing new requirements for price regulation and supervision. 2. The Ministry of Ecology and Environment publicly solicits opinions on two national ecological and environmental standards: the "Feasible Technical Guidelines for Air Pollution Prevention and Control in the Glass Industry (Draft for Comment)" and others. Cailian Press, July 24th: To prevent and control air pollution, improve air quality, and promote the advancement of air pollution prevention and control technologies in the glass and mineral wool industries, the Ministry of Ecology and Environment has undertaken the preparation of two national ecological and environmental standards: the "Feasible Technical Guidelines for Air Pollution Prevention and Control in the Glass Industry" and the "Feasible Technical Guidelines for Air Pollution Prevention and Control in the Mineral Wool Industry." It is now publicly soliciting comments on the drafts of these two standards.

The market experienced a day of volatile and differentiated trading, with the three major indices showing mixed changes. The yellow and white lines on the CSI Innovation Index's intraday chart diverged significantly, and most stocks declined. The total trading volume on the Shanghai and Shenzhen stock exchanges reached 1.61 trillion yuan, an increase of 153.3 billion yuan from the previous trading day. On the futures market, hot topics were mainly concentrated in the AI sector, with more stocks declining than rising, and over 4,000 stocks across the market falling. From a sector perspective, AI hardware stocks surged collectively, with Eoptolink Technology hitting the daily limit and setting a new all-time high. AI application stocks also performed actively, with Digiwin Software hitting the 20CM daily limit. On the downside, power stocks adjusted collectively, with Huayin Power hitting the daily limit. By the close, the Shanghai Composite Index fell 0.42%, the Shenzhen Component Index rose 0.56%, and the CSI Innovation Index rose 1.73%. In terms of sectors, the computing hardware sector once again saw a full-scale rally, with Eoptolink Technology hitting the 20CM daily limit and setting a new all-time high, and Innolight, Dongtian Micro, Shijia Photonics, TFC Communication, Shenghong Technology, and GK Light Technology all rising over 10%. On the news front, Eoptolink Technology is expected to report a net profit attributable to shareholders of between 3.7 billion yuan and 4.2 billion yuan for H1, representing a YoY increase of 328%-385%. Among this, Q2 net profit is expected to be between 2.127 billion yuan and 2.627 billion yuan, up 35.22%-67.01% MoM. In addition, Jensen Huang, founder and CEO of US-based NVIDIA, announced two important developments today in an interview with CCTV reporters: the US has approved the sale of H20 chips to China, and NVIDIA will launch the RTXpro GPU. Since last week, AI computing hardware companies such as Industrial Union, WUS Printed Circuit, HG Technology, Accelink Technologies, Ruijie Networks, and Eoptolink Technology have successively released earnings previews, all showing rapid growth, reflecting that the high prosperity of the computing industry is continuing. Driven by this, the medium and long-term investment value still has a high degree of certainty. However, after today's surge in trading volume and sentiment, short-term volatility may intensify. China Securities believes that the competition and iteration of large models are still ongoing, implying that computing power investment is likely to maintain a high intensity. The following sub-sectors within the computing power chain can still be monitored: 1) core targets in the North American computing power chain with sustained high earnings growth and valuations still at historically low levels; 2) companies expected to benefit from spillover demand and achieve breakthroughs in customers or market share; 3) the 1.6T optical module and CPO industry chain. The AI application and cloud service (cloud computing) sectors also strengthened in the afternoon, with Digiwin Software, Yunding Technology, Leo Digital Marketing, and Yongyou Network hitting the daily limit, and Siyi Information, Hand Enterprise Solutions, Sunren Media, and Wondershare Technology among the top gainers. On the news front, on July 14, the World Digital Science Academy officially released a new AI STR series standard, the "AI Agent Operational Safety Testing Standard." The standard was jointly compiled by Ant Group, Tsinghua University, China Telecom, and over 20 domestic and overseas institutions, enterprises, and universities, making it the world's first operational safety testing standard for single AI agents. Recently, the latest report "China Edge Cloud Market Tracking Research, 2024H2" released by International Data Corporation (IDC) shows that in H2 2024, China's edge cloud market size totals 7.39 billion yuan, with a YoY growth rate of 18.6%; among which, the market sizes for edge public cloud services, edge private cloud services, and edge cloud solutions reach 37.9, 14.4, and 2.16 billion yuan, respectively. In terms of individual stocks From an individual stock perspective, today's short-term theme speculation remains relatively sluggish, with high-profile stocks continuing to adjust. Among the stocks that were above 3 boards yesterday, only Shangwei New Materials advanced, while the rest all declined. Meanwhile, Huayin Power, Guosheng Technology, and Sailing Medical hit the lower limit, and Jingyuntong and Xinling Electric also saw significant declines. However, it is also worth noting that some popular stocks have seen a return of funds, such as Chutianlong, a stablecoin concept stock, hitting another limit up for two consecutive days, and Yufa Development, a core real estate stock, bottoming out and rebounding, successfully sealing the board in the afternoon to achieve 5 boards in 7 days. Under the current market structure maintaining a fluctuating upward trend, there is still room for related sectors to remain active, and the strength of the recovery from high-level losses remains a key point to watch. AI computing power heavyweights once again exploded across the board, with Xinyisheng hitting a 20CM limit up, and Shenghong Technology, Avary Holding, and Huadian Co. setting new historical highs. This gradually extended to downstream applications, cloud computing, and server directions. As a highly popular sector, it has a strong driving effect on short-term sentiment. If this momentum can be sustained, it will not only help attract more incremental funds into the market but also form a positive feedback loop for the technology and growth style, at which point one could look for potential catch-up opportunities within the tech sector. Market Outlook Analysis Today, the market continued to fluctuate and diverge, with mixed performance among the three major indices and a slight increase in trading volume. The full-scale breakout of the AI industry chain boosted the ChiNext Index, but the divergence between the yellow and white intraday lines remained quite evident, with over 4,000 stocks still falling by the close. Overall, as the current rebound has progressed, market divergence has gradually increased, and the amplitude of short-term fluctuations has notably risen. However, the good news is that after the index dipped during the session, the market still showed considerable resilience, and the overall fluctuating upward trend has not been disrupted. On the other hand, although the loss effect of high-level stocks has recently intensified, no true signs of a pullback have emerged in major hot topics, which continue to be active through rotation. Therefore, one can still follow the corresponding rhythm and pay attention to low-suction and ambush opportunities in some core stocks. Market News Focus 1. Focusing on Advanced Manufacturing, Digital Economy, and More: A Large-Scale Vocational Skills Enhancement Training Initiative Is Here According to the Ministry of Human Resources and Social Security, the country has recently deployed a large-scale vocational skills enhancement training initiative. From 2025 to the end of 2027, the country will focus on increasing the supply of skilled talents in short supply in the manufacturing and service sectors. Guided by the in-depth implementation of the "Skills Illuminate the Future" training initiative, it will extensively carry out vocational skills enhancement training. Among these efforts, subsidized training will be conducted for over 30 million person-times, targeting high-end, precision, and advanced industries, industries in urgent need, key employment groups, etc., to promote workers' employment, income growth, and job satisfaction through skills. Various regions will focus on fields such as advanced manufacturing, digital economy, low-altitude economy, transportation, agriculture and rural areas, and life services, vigorously carrying out vocational skills enhancement training tailored to different industries and sectors. Training will continue to be strengthened for key groups, including enterprise employees, college graduates, and migrant workers, to enhance their vocational skills. 2. National Bureau of Statistics (NBS): Relevant departments are formulating measures to further strengthen the standardized governance of market order At a press conference held by the State Council Information Office on the 15th, Sheng Laiyun, Deputy Director of the NBS, stated that in response to the intensified "rat race" competition in some industries and enterprises in recent times, the Central Financial and Economic Affairs Commission held a meeting on July 1st, explicitly proposing to: advance the construction of a unified national market in depth, focus on key challenges, regulate enterprises' low-price and disorderly competition in accordance with laws and regulations, guide enterprises to improve product quality, and promote the orderly exit of backward capacity. Relevant departments are formulating measures based on the meeting's spirit to further strengthen the standardized governance of market order. These policies and measures are conducive to standardizing market order, improving market supply-demand relationships, promoting reasonable price rebounds, and also beneficial for enterprises to improve profits, enhance vitality, and thereby drive economic structural adjustment and high-quality development.