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China Fund News Dawn

Hello everyone! Let's pay attention to the market conditions and latest information in the morning~

On July 24, the A-share market opened slightly lower in the morning: the Shanghai Composite Index closed at 2909.05 points, down 0.21%; the Shenzhen Component Index fell 0.28%; and the ChiNext Index fell 0.29%. After the opening, the three major indexes briefly rose and then fell back. As of press time, all major market indexes were in the red.

In the morning, water, electricity, aerospace and military sectors performed well, and concepts such as high-speed copper connections, liquid-cooled servers, and GPUs maintained their prosperity. The automotive, education, agriculture, and retail sectors were sluggish, and concepts such as medical insurance payment reform, smart healthcare, and car-road-cloud declined.

Hong Kong stocks opened slightly lower: Hang Seng Index closed at 17454.4 points, down 0.09%; Hang Seng Tech fell 0.15%, and Hang Seng China Enterprises fell 0.08%. Hong Kong stocks rebounded slightly after a volatile decline in the morning. As of press time, the three major indexes were in the red; Xpeng Motors led the decline in Hang Seng Tech.

See the details——

Liquid-cooled server concept is active

Jingyan Technology 20CM daily limit

On the morning of July 24, the concept of liquid-cooled servers continued to be hot and took the lead in a wave of market trends.

In terms of individual stocks, Jingyan Technology quickly hit the 20CM daily limit after the opening, Jialitu and Chuanrun shares hit the daily limit, Qiangrui Technology, Fangsheng shares, and Gaolan shares rose by more than 10%, and Tongxing Technology, Hongfuhan, Feirongda and many other stocks were among the top gainers.

Influenced by the good news, the concept of liquid-cooled servers has continued to strengthen recently. Earlier, Elon Musk posted on the social platform X that the xAI team, X team, NVIDIA and supporting companies started training on the Memphis Super Cluster at 4:20 a.m. local time. The cluster uses 100,000 liquid-cooled H100s on a single RDMA fabric and is "the world's most powerful AI training cluster."

In addition, the interim results also helped the stock market. On the evening of July 23, Jingyan Technology disclosed an announcement showing that it expects to achieve a net profit attributable to shareholders of listed companies of 54 million to 61 million yuan in the first half of 2024, turning losses into profits compared with the same period last year.

The automobile sector fluctuated downward

Retail stocks fall

The market fluctuated downward in the morning, with the automobile sector fluctuating downward. Concepts such as complete vehicles, unmanned driving, and car-road-cloud led the decline.

In terms of individual stocks, Shanzi Hi-Tech and Ankai Automobile hit the daily limit, while Dongjian Technology, Soling Shares, Jiangling Motors and many other stocks fell sharply.

Hong Kong-listed auto stocks fell simultaneously, with Great Wall Motor and Xpeng Motors falling by more than 5%, while NIO, Leapmotor, and Yadea Holdings all saw significant declines.

In addition, retail stocks fell sharply in the morning, Xinhua Department Store hit the limit down, Dalian Friendship hit the limit down during the session, Zhongbai Group, DoBuy Group and others fell.

Editor: Joey

Audit: Wooden Fish

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