午报市场延续震荡分化，三大指数涨跌不一，AI产业链与创新药再度逆势走强

Market Overview - The market experienced fluctuations with the Shanghai Composite Index adjusting while the ChiNext Index saw a pullback after a rise. The total trading volume in the Shanghai and Shenzhen markets reached 1.14 trillion yuan, an increase of 56.2 billion yuan compared to the previous trading day. Over 3,400 stocks declined, indicating a mixed performance across the market [1] - AI hardware stocks surged again, with companies like Zhongji Xuchuang reaching new historical highs. AI application stocks also strengthened, with Yidian Tianxia hitting the daily limit. Innovative drug concept stocks remained active, with companies like Kangyuan Pharmaceutical also hitting the daily limit [1] AI Industry - The AI industry chain saw a comprehensive breakout, particularly in computing power hardware, with companies such as Zhongji Xuchuang, Xinyisheng, and Dongshan Precision reaching new historical highs [1] - The number of personal users registered for large model applications exceeded 3.1 billion, with API call users totaling over 159 million, indicating significant growth in AI application usage [25] Innovative Pharmaceuticals - Innovative drug stocks continued to be active, with notable gains from companies like Kangyuan Pharmaceutical, Gongtong Pharmaceutical, and Dexuan Health, among others [13] - A significant licensing agreement was announced between Shiyao Group and Madrigal Pharmaceuticals, with a total transaction value potentially reaching 2.075 billion USD, highlighting the growing cash flow for domestic innovative pharmaceutical companies [15] Assisted Reproductive Technology - The assisted reproductive sector saw strong performance, with stocks like Gongtong Pharmaceutical and Hancheng Group hitting the daily limit. The Beijing government has introduced measures to enhance reproductive health services, which may further support this sector [4][35] - The Beijing Municipal Government's new policies aim to improve housing support for families with multiple children, which may indirectly benefit the assisted reproductive technology market [42] Market Sentiment - The overall market sentiment remains structurally differentiated, with the three major indices showing mixed results. The focus should remain on core hotspots, particularly in AI and innovative pharmaceuticals, while seeking opportunities for supplementary gains [15]