news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

In today's morning session, A-shares continued to fluctuate and adjust. The Shanghai Composite Index rebounded after falling below 2,900 points, hitting a new low in more than five months during the session. The Shenzhen Component Index also rose rapidly after receiving support near 8,500 points.

On the market, sectors such as copper cable high-speed connections, water services, liquid-cooled servers, and national defense and military industries were relatively strong, while sectors such as car-road-cloud, automobile dismantling, home appliances, and tourism were among the top losers.

01

Liquid-cooled servers receive favorable policies

The concept of liquid-cooled servers bucked the trend and strengthened in the morning, with the sector index rising nearly 3% at one point in the early trading.

Jingyan Technology opened high and then hit the 20% daily limit in just about one minute, with its half-day trading volume several times higher than yesterday's full-day trading volume; Jialitu and Chuanrun shares also quickly closed vertically, and Ruixin Technology, Qiangrui Technology and others also moved up abnormally during the session.

Recently, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the National Energy Administration, the National Data Bureau and other departments jointly issued the "Special Action Plan for Green and Low-carbon Development of Data Centers", which mentioned that:We will promote high-efficiency refrigeration and heat dissipation technologies such as liquid cooling, evaporative cooling, heat pipes, and fluorine pumps according to local conditions to improve the utilization rate of natural cold sources.

Subsequently, Hangzhou issued the "Several Measures to Support the High-Quality Development of the Entire Artificial Intelligence Industry Chain", which also proposed to build the computing power base, model cornerstone and data support for the entire artificial intelligence industry chain, strengthen the linkage between chips and machines, the connection between whole and parts, and industrial collaboration, and cultivate a number of industrial clusters in subdivided fields such as high-performance chips, high-speed optical networks, high-performance liquid-cooled servers, artificial intelligence algorithms, and multimodal data sets.

In addition, on July 22, local time, Musk posted on the social platform X that the xAI team, the X team, NVIDIA and supporting companies began training on the Memphis Supercluster.According to him, the cluster uses 100,000 liquid-cooled H100s on a single RDMA fabric and is "the most powerful AI training cluster in the world."

According to IDC data, China's liquid-cooled server market sales in 2023 will be US$1.42 billion, a year-on-year increase of 48%, and shipments will be 161,000 units, a year-on-year increase of 57.3%. IDC predicts that by 2028, China's liquid-cooled server market will reach US$10.2 billion, with a compound annual growth rate of 45.8%.

Guohai Securities said that the demand for AI servers will remain strong in 2024, and shipments are expected to achieve rapid growth. In the current "post-Moore's Law" era, with the gradual implementation of the country's dual-carbon strategy, liquid-cooled data centers are becoming a new trend in the industry and entering the expansion stage. It is expected that in 2024, the demand for AI servers will drive the demand for heat dissipation, the penetration rate of liquid cooling products will continue to increase, and the upgrade of heat dissipation products is expected to accelerate.

02

Defense industry overall strengthens

Defense and military industry stocks strengthened overall in the morning, and the sector index rose against the trend.

Shaoyang Hydraulics and Kingsignal both hit their 20% daily limit, while Shenyu Holdings, Xingchen Technology, Siwei Train Control, and Huafeng Technology were among the top gainers.

Sub-sectors such as shipbuilding, aviation manufacturing, commercial aerospace, and military-civilian integration also rose against the trend.

Tenda Technology has been trading at the daily limit for three consecutive days, and Feiwo Technology and others have also been trading at the daily limit or more than 10%. Military industry leader ETFs, military industry ETFs, and national defense ETFs have all risen in volume.

my country's military budget for 2024 is 1.67 trillion yuan, with a growth rate of 7.2%. The Ministry of National Defense proposed in the white paper "China's National Defense in the New Era" that it is necessary to speed up the deployment of new main combat weapons and equipment, build a modern weapons and equipment system, increase the efforts to eliminate obsolete equipment, and gradually form a weapons and equipment system with high-tech equipment as the backbone.

Cinda Securities pointed out that the intensified competition among major powers, the drastic changes in the external environment, the continued conflicts between Palestine and Israel and Russia and Ukraine, have accelerated the evolution of the new geopolitical pattern. It is expected that 2024 will be a key year for the volume of domestically produced large aircraft such as C919, the accelerated layout of satellite Internet, the intensive launch of commercial rockets, the industrialization of 3D printing, the accelerated development of electronic countermeasures, and underwater attack and defense. The three core themes of "engine + aircraft + missile & long-range rocket" can be paid attention to.

Editor: Chen Lixiang

Proofread by: Tang Haocheng