A-share Midday Review | Three major indices rebound after dipping, PCB and ice-snow industry buck the trend

Title context: A-share Midday Review | Three major indices rebound after dipping, PCB and ice-snow industry buck the trend Text: On October 13, the three major A-share indices opened lower collectively and quickly probed downward in early trading, with the ChiNext Index falling more than 3% and the STAR Composite Index once dropping nearly 4%. The two markets then fluctuated upward and the declines narrowed significantly, showing a divergent pattern of "indices rebounding from lows, widespread declines in individual stocks, and localized hot spots bucking the trend." As of the midday close, the Shanghai Composite Index fell 0.27% to 3787.16 points, the Shenzhen Component Index fell 0.78% to 12288.40 points, and the ChiNext Index fell 0.95% to 2935.54 points. More than 3,500 stocks in the Shanghai and Shenzhen markets declined, while more than 1,800 rose. Half-day turnover across the Shanghai, Beijing, and Shenzhen markets was 1,016.4 billion yuan, of which the Shanghai and Shenzhen markets accounted for 1,008.2 billion yuan, a decrease of 5.2 billion yuan from the previous trading day. On the capital front, Cailian Press monitoring data showed that in early trading, main funds recorded net inflows into sectors such as agriculture, forestry, animal husbandry and fishery, diversified finance, and petroleum and petrochemicals, while recording net outflows from sectors such as electronics, electrical equipment and new energy, and semiconductors, with the electronics sector seeing net outflows exceeding 6.5 billion yuan. Market overview On the board, on the gainers' side, sectors such as printed circuit boards, dyes, the ice-snow industry, and retail were active, with PCB industry chain directions such as components and copper-clad laminates rebounding noticeably; on the decliners' side, battery, solid-state battery, power equipment, wind power equipment, and medical services sectors led the declines. Overall, the indices rebounded significantly from early-session lows, but more than 3,500 stocks in the two markets still declined, with hot spots concentrated in the PCB industry chain and event-driven themes such as ice-snow and retail, while the wealth effect among individual stocks was limited. Hot sectors 1. PCB concept fluctuated and rebounded The PCB concept fluctuated and rebounded. Shenzhen Xunjiexing Technology Corp. hit the 20CM limit up, Guangdong Goworld, Changzhou Aohong Electronics, Jiangsu Xiehe Electronic, and Guangdong Ellington Electronics Technology hit the limit up, Jiangsu Allfavor Intelligent Circuits Technology rose more than 12%, and Aoshikang Technology, Ji'an Mankun Technology, and others were among the top gainers. Comment: On the news front, Guangdong Goworld announced a earnings forecast on the evening of October 12, expecting net profit attributable to shareholders of the listed company for the first three quarters of 2026 to be 340 million yuan to 360 million yuan, up 90.78% to 102.00% year on year, including single-quarter net profit of 227 million yuan to 247 million yuan in the third quarter, up 181.46% to 206.31% from the second quarter; the company said that during the reporting period, the copper-clad laminate industry maintained high prosperity, product volume and prices rose together, copper-clad laminate product orders were sufficient and selling prices trended upward, and capacity utilization in the printed circuit board business increased. 2. Ice-snow industry concept was active against the trend The ice-snow industry concept was active against the trend. Bingshan Refrigeration & Heat Transfer Technologies, Dalian Sunasia Tourism Holding, and Fujian Snowman Group hit the limit up, Jiangsu Jingxue Insulation Technology hit the 20CM limit up, and Changbai Mountain Tourism rose more than 9%. Comment: On the news front, on October 12, the "Ice and Snow Crown Longjiang Awaits" Heilongjiang Provincial Ice and Snow Tourism Development Promotion Association 2026-2027 Ice and Snow Season Promotion Conference and Launch Ceremony was held in Guangzhou. Harbin Ice and Snow World announced at the meeting that the 28th park will expand to 1.25 million square meters in site area and use a total of 400,000 cubic meters of ice and snow, setting a new high in scale for previous editions. The park will upgrade across six major segments: ice and snow landscapes, amusement experiences, performance activities, ice and snow events, themed IP, and supporting services. 3. Disperse dye concept was active The disperse dye concept was active. Hebei Jianxin Chemical hit the 20CM limit up, Jiangsu Yabang Dyestuff and Nantong Acetic Acid Chemical hit the limit up, ZheJiang JiHua Group touched the limit up during the session and rose more than 7% at midday, while Anshan Hifichem followed the gains. Comment: On the news front, Shaoxing Sanfeng Chemical Co., Ltd. issued a "Price Adjustment Letter," announcing that starting from October 10, 2026 (inclusive), it will raise prices for two core dye intermediate products. 4. Retail sector pulled up during the session The retail sector pulled up during the session. Fujian Dongbai Group posted a second consecutive limit up, Zhongxing Shenyang Commercial Building Group hit the limit up, Baida Group Co.,Ltd rose more than 4%, and Zhongbai Holdings Group, Hangzhou Jiebai Group, and others followed the gains. Comment: On the news front, Fujian Dongbai Group announced on the evening of October 11 that its wholly owned subsidiary Fujian Dongbai Chuangzhi Investment Co., Ltd. plans to acquire a 52.6667% stake in Hangzhou Kuailing Photoelectric Technology Co., Ltd. for 316 million yuan. The target company mainly engages in photodetector chips (PIN-PD, APD, MPD, etc.), used in fields such as LiDAR, optical communications, and gas detection. This transaction corresponds to an overall valuation of 600 million yuan for 100% equity of the target company, with an appraisal appreciation rate of 764.35%; the Shanghai Stock Exchange issued a regulatory work letter that evening regarding the company's asset acquisition matter. In addition, the Ministry of Culture and Tourism released data on October 9 showing that during the 7-day National Day holiday in 2026, domestic trips nationwide reached 826 million person-times and total domestic tourism spending reached 738.375 billion yuan, up 6.3% and 4.3% year on year respectively on a comparable basis (daily average).