Popular leading stock, market capitalization surpasses 100 billion yuan

On March 26, the A-share market opened higher and then pulled back, with rapid sector rotation. Funds focused on the battery industry chain, CPO concepts, and other sectors. Leading stocks like CATL strengthened, supporting the relatively strong performance of the ChiNext Index. By midday, the Shanghai Composite Index was at 3,909.16 points, down 0.58%; the Shenzhen Component Index was at 13,748.3 points, down 0.38%; the ChiNext Index was at 3,314.64 points, down 0.07%; and the STAR Market Composite Index was at 1,652.03 points, down 0.96%.

CPO Concept Continues to Show Strength

Yuanjie Technology’s Market Cap Breaks 100 Billion Yuan

On the morning of March 26, the CPO concept remained active. Leading stock Yuanjie Technology surged over 5% during the session, reaching a high of 1,212.49 yuan, hitting a new all-time high and surpassing 100 billion yuan in total market value. By midday, the stock’s gains narrowed to 3.86%, with a cumulative increase of about 85% since the beginning of the year.

Zhilifang rose over 12%, closing at 98.14 yuan per share, with the intraday high reaching 100.87 yuan, a new historical high. Additionally, Mingpu Optoelectronics hit the daily limit, achieving three limit-ups in six days. Stocks like Robotech, Tianfu Communications, Shijia Photonics, and Changguang Huaxin also followed the rally.

Guotai Haitong Securities’ research report analyzed that, as emerging technologies like artificial intelligence continue to develop, the demand for computing power is growing exponentially, driving the demand for data center products. Industry growth is highly certain. The AI wave is fueling the ongoing need for large model training and deployment in terms of computing power, networks, and data centers, leading North American tech giants to record historic high capital expenditures. The telecom market demand remains relatively stable and sustainable.

Recurrent Strength in Lithium Battery Materials Stocks; Power Sector Rebounds

Lithium battery materials stocks repeatedly strengthened in the morning, with active performance in electrolytes, separators, lithium mines, and other sectors. Rongjie Shares achieved three consecutive limit-ups, with Shida Shenghua, Lidao New Materials, and Dadongnan hitting the daily limit.

The research team at Zhonghang Securities believes that since 2025, the midstream materials and battery sectors have entered a cycle reversal phase. Lithium battery materials are showing simultaneous increases in volume and price, with greater performance elasticity, likely to lead to profit recovery first and provide core support for sector strength.

The power sector rebounded after a bottoming out, with Huadian Liaoning leading a nine-day rally.

Additionally, Hunan Development, Ganneng Power, Guangxi Energy, and Shennan Electric hit the daily limit. On the news front, Liu Liehong, Director of the National Data Bureau, stated at the China Development High-Level Forum 2026 that the next step will involve promoting the computing power and electricity collaboration project, ensuring that more than 80% of new computing facilities at key nodes use green electricity, maximizing the supporting role of green power.

Commercial Aerospace Concept Rises and Falls; Zhenxing Technology Hits Two Limit-Ups

Zhenxing Technology briefly surged with two consecutive limit-ups, but by midday, the gains had pulled back to 7.61%. Stocks like Xinwei Communications, Western Materials, Chunhui Zhikong, and Tuo Lu Zhe were active during the session.

According to tech media The Information, Elon Musk’s rocket and communications company SpaceX plans to submit an IPO prospectus to regulators as soon as this week or next, aiming to go public as early as June this year. The company may seek to raise over $75 billion in the IPO, higher than the previous estimate of $50 billion, with a latest valuation of $1.25 trillion.

Author: Wang Youruo

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