A-share market closing review | Market rises and falls! Trading volume falls below trillion yuan, market sentiment remains cautious

Today, the market surged again and then fell back, with the three major indexes closing slightly higher. Market sentiment was cautious, with hotspots showing rapid rotation and trading volume falling below the trillion level, with individual stocks overall showing mixed gains and losses. Haitong pointed out that April is often an important window for performance verification, as fundamental data is less disclosed in the first quarter, and the market is often influenced by policies or events. After April, fundamental trends gradually become clearer, and attention returns to fundamentals. Looking at the market, the Siasun Robot & Automation industry chain remained strong throughout the day, with a sudden surge in the new branch of exoskeletons, leading stock Nanjing Vishee Medical Technology Co., Ltd up 20%; the automotive industry chain rose collectively, with integrated die-casting and lidar leading the way, and Ningbo Shenglong Automotive Powertrain System among others hitting the limit up; the heat pump concept rose, with stocks like Guangzhou Seagull Kitchen And Bath Products hitting the limit up; AI applications, computing power, and other AI industry chains surged at one point, with Jiangyin Hengrun Heavy Industries hitting three daily limits. On the downside, the previously surged nuclear fusion concept adjusted, with Shanghai Zhongzhou Special Alloy Materials leading the decline; power, oil and gas and other resource stocks fell, with military, traditional Chinese medicine, real estate and other sectors leading the decline. Specifically, the humanoid Siasun Robot & Automation field has welcomed a new branch -- exoskeleton products. The catalyzing event was that recently Hangzhou Chengtian Technology Development Co., Ltd. launched a consumer-grade exoskeleton product on a shopping platform for 2500 yuan, targeted at individual users, and it sold out in a few hundred units in just 15 seconds. Among the related concept stocks, Nanjing Vishee Medical Technology Co., Ltd hit the daily limit, and stocks like Jiangsu Zhenjiang NewEnergy Equipment and Zhejiang Jinggong Integration Technology also hit the limit. The heat pump concept surged, with stocks like Guangzhou Seagull Kitchen And Bath Products skyrocketing to the limit, followed by Suzhou Invotech Scroll Technologies, Zhejiang Dayuan Pumps Industry, Guangdong Vanward New Electric, and Songz Automobile Air Conditioning. In terms of news, the NDRC and other departments issued a notice on the "Action Plan to Promote the High-Quality Development of the Heat Pump Industry", aiming to enhance the production and technology R&D capabilities of heat pumps by more than 20% by 2030 through collaborative efforts. In terms of individual stocks, 2758 stocks rose while 2430 fell in the two markets, with 218 stocks staying flat. There were 48 stocks hitting the limit up and 19 hitting the limit down in the two markets. As of the close, the Shanghai Composite Index rose 0.05% to 3350.13 points, with a turnover of 411.7 billion yuan; the Shenzhen Component Index rose 0.09% to 10513.12 points, with a turnover of 562.8 billion yuan. The ChiNext Index rose 0.13% to 2104.63 points. Funding Trends Today, main funds focused on the telecommunications equipment, automotive parts, and securities sectors, with stocks like Sunyard Technology, Xiangcai Co., Ltd, and East Money Information among the top net inflows. News Review 1. Roundtable on the Construction of the Commercial Reserve Mechanism for Natural Rubber Held Today, a letter entitled "Notice of the Roundtable on the Construction of the Commercial Reserve Mechanism for Natural Rubber" was circulated in the market. The notice indicates that to implement the reform of the national reserves system and explore market-oriented and diversified storage models, the China Natural Rubber Association intends to hold a roundtable on the construction of the commercial reserve mechanism for natural rubber in Shanghai on April 2, 2025. Securities Times reporters exclusively learned that the meeting notice was true, and the roundtable on the construction of the commercial reserve mechanism for natural rubber was held today, but participation units were invited specifically, and the specific content of the meeting is currently confidential. 2. Contemporary Amperex Technology Joins Hands with China Petroleum & Chemical Corporation to Launch a New Infrastructure Project for Charging Piles Contemporary Amperex Technology and China Petroleum & Chemical Corporation signed a cooperation framework agreement. According to the agreement, the two parties will deepen their long-term strategic cooperation relationship and jointly build a national charging network ecosystem and standard construction through "industry cooperation + capital cooperation" methods, managing and operating charging assets together. This year, they will build no less than 500 charging stations, with the long-term goal of expanding to 10,000 stations. In addition, based on the chocolate charge and Antelope chassis charge solutions launched by Contemporary Amperex Technology, the two parties will jointly break through the range bottleneck for passenger cars and heavy trucks. 3. Guangzhou Power Trading Center: Promoting the Establishment of a Sound Cross-Border Power Trading Mechanism Chen Wei, Deputy General Manager of the Guangzhou Power Trading Center, stated that in the future, the Guangzhou Power Trading Center will focus on establishing a power market mechanism that is conducive to the implementation of the "West-to-East Power Transmission" strategy, regional coordinated development strategy, achievement of the "dual carbon" goals, and the construction of the "Belt and Road" initiative. It will actively integrate into the unified national power market and comprehensively promote globalBuilding and operating a unified national electricity market. Improving mechanisms for higher participation of renewable energy in the market, enriching and refining market trading mechanisms to adapt to a vast distribution of distributed energy and the participation of new entities, improving green electricity trading mechanisms, and strengthening connections and coordination with multiple markets such as carbon markets and energy rights markets. Promoting the establishment of a sound cross-border electricity trading mechanism, promoting the inclusion of Hong Kong and Macao in the Southern Region electricity market, establishing a transnational-level electricity trading market in the Lancang-Mekong region, and maximizing the market optimization of resource allocation on a larger scale.4. National Development and Reform Commission, Li Chunlin: Will formulate the Administrative Measures for Authorizing the Operation and Management of Public Credit Information to develop and strengthen the credit economy On April 2, Li Chunlin, Deputy Director of the National Development and Reform Commission, stated at a press conference that the NDRC will continue to promote the development and utilization of credit information from three aspects. Firstly, strengthen the foundation of credit information collection and sharing by enhancing the role of the national credit information sharing platform as the central hub, collecting credit information from various fields, and evaluating the effectiveness of credit information collection and sharing. Secondly, intensify data governance efforts by focusing on strengthening governance at the source of data, improving the credit information standard system, and establishing different data theme libraries. Thirdly, promote the orderly circulation of data by sharing credit information with departments and localities based on demand through the national credit information sharing platform, and promote public information sharing between regions. Additionally, the NDRC will formulate the Administrative Measures for Authorizing the Operation and Management of Public Credit Information to effectively nurture the credit market and develop and strengthen the credit economy. Market Analysis: 1. Shenwan Hongyuan Group: Weak volatility in the second quarter, technology may still have independent market trends. Shenwan Hongyuan Group mentioned that the immediate reason for the short-term market adjustment is the approaching "April Decision". After the short-term adjustment, the pressure from the "April Decision" has been largely released: the growth rate of Internet capital expenditures is positively related to the revenue growth rate of domestic sectors related to A-shares, and the domestic order for computing power is in a period of concentrated release, with the potential for an upward turning point in the first quarter reports. Expectations for the improvement of cyclical performance in A-shares are already low, even if the economy does not continue to be strong in April, there is limited room for additional downward revisions. The adjustment pressure during the verification period in April is limited. 2. Haitong: April is an important time point for A-shares, looking forward to the first quarter report clues from three dimensions Haitong pointed out that April is an important time point for the A-share market, with an increased focus on fundamentals. In the A-share market, April is often an important window for performance verification, as data on fundamentals between January and March is limited, and the market is often influenced by policies or events. After April, the trend of fundamental data gradually becomes clearer, and the focus returns to fundamentals. Historically, the trend of the A-share market in April has been significantly influenced by fundamentals: when the fundamentals improve significantly, the market continues to rise, as seen in 2013; if the fundamental data weakens, short-term trends may shift to adjustments, as seen in 2019. Although the number of companies disclosing first-quarter earnings forecasts is still limited, analyzing from three dimensions - macro high-frequency data, industrial enterprise profits, and analyst performance expectations, may provide early clues to the first-quarter report as a reference for investors. 3. EB SECURITIES: Index is expected to fluctuate rebound, structural trends and hot spot rotation style will continue EB SECURITIES stated that looking ahead to the future market, market sentiment is continuously improving, but trading volume remains relatively low, and hot spots are rotating quickly. It is predicted that the index is expected to fluctuate rebound, and the style of structural trends and hot spot rotation may continue. Direction: Edge AI-related concepts. On April 2, Volcano Engine will hold an event on "AIoT Smart Change Wave", inviting leading players in intelligent hardware (including several A-share listed companies) to discuss the latest trends in conversational AI smart hardware, focusing on AI toys and other edge AI hardware products, which may stimulate speculation in related concepts. This article is reproduced from "Tencent Self-Selection Stocks", GMTEight editor: Liu Jiayin.