2025.02.24

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Author: Yicai Information

On [specific date], the three major stock indices remained weak with fluctuations. By the close, the Shanghai Composite Index fell by [specific percentage]%, the Shenzhen Component Index dropped by [specific percentage]%, and the ChiNext Index declined by [specific percentage]%. (Note: The original text contains placeholders like "月日" and ".%" which should be replaced with specific dates and percentages for a complete and accurate translation.)

Overall, more stocks rose than fell, with a significant number of stocks across the market gaining. The trading volume in the market exceeded one trillion yuan for two consecutive days, though it decreased by several billion yuan compared to the previous trading session.

On the market, application-related themes saw a pullback, leading the decline, while optical communication, e-commerce, and robotics concept stocks weakened. Aviation, infrastructure, and agriculture sectors strengthened, with low-altitude economy, consumer electronics, and hardware concept stocks showing activity.

Specifically, agricultural stocks collectively surged, with Fucheng Stock, Xingguang Agricultural Machinery, Oriental Group, Huaying Agriculture, and others hitting the daily limit up.

Concept stocks experienced volatile adjustments, with Hangjin Technology, Zhewen Interconnected, and Oriental Materials hitting the跌停板 (down limit), while Daily Interactive and Qingyun Technology dropped over %.

flow of funds主力资金早间净流入汽车、机械设备、建筑装饰、房地产等板块，净流出电子、传媒、银行、钢铁等板块。

Looking at individual stocks, Wanfeng Auto Wheel, Changshan Beiming, and Kehua Data saw net inflows of X billion yuan, Y billion yuan, and Z billion yuan, respectively.

On the net outflow side, Hangzhou Iron & Steel, Zhejiang Daily Digital Culture, and Will Semiconductor were sold off for . billion yuan, . billion yuan, and . billion yuan respectively.

Institutional Perspective

After several trading days of gains, will the index continue its upward trend or begin a correction? Xing Xing from Boxing Securities believes that the market is seeing sustained and moderate volume growth, and the upward trend of the stock index remains unchanged. Wang Zhangliang from Shenzhen Qianhai Rongyue Asset Management pointed out that after three consecutive weekly gains, the index may face adjustment pressure. Zhu Xiandong from Guocheng Investment Advisory stated that with three consecutive weekly gains, there is a high probability of the index breaking through with increased volume this week.

Tianfeng Securities stated that significantly enhancing the capabilities of local models is expected to usher in a wave of private cloud adoption. For industries sensitive to data, such as government, state-owned enterprises, finance, and healthcare, the high requirements for data security make local deployment a viable solution to mitigate data security risks. According to estimates, the total market size for private cloud hardware and software is nearly a billion yuan, primarily benefiting three types of vendors: NVIDIA-powered server manufacturers with ample resource accumulation, infrastructure cloud companies/operators with a solid customer base, and domestic computing power providers that stand to gain significantly in the short, medium, and long term.

CITIC Securities' research report indicates that the banking sector's fundamentals have remained stable recently, with an expected proactive balance sheet expansion in the first quarter. The decline in net interest margins (NIM) is within expectations, and financial performance has been steady. Against this backdrop, the short-term movement of bank stocks is more influenced by market style factors, while the medium-term trend continues to benefit from the reevaluation of their business models. Given the extreme performance of capital market styles last week, the report anticipates that high-certainty sectors like banking may take the lead in subsequent performance, with optimistic prospects for absolute returns.

WeChat editor | 生产队的驴（持续拉磨中）

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