Sou Hu Cai Jing·2025-08-22 09:48Core Viewpoint - The surge in domestic computing power has ignited a rally in A-share technology stocks, particularly in the semiconductor sector, with significant gains observed in companies like Cambricon and Haiguang Information [1][3]. Group 1: Market Performance - The A-share market capitalization of the electronics sector reached a historical high of 11.54 trillion yuan, surpassing the banking sector [2]. - Notable stock performances include Cambricon with a market cap of 520.93 billion yuan and Haiguang Information at 432.46 billion yuan [2]. - The Shanghai Composite Index broke through the 3800-point mark, indicating strong market momentum [1]. Group 2: Sector Analysis - The electronics, communication, computer, non-bank financial, and defense industries led the market gains, while banking, textile, and oil sectors lagged [10]. - The electronic sector's growth is attributed to the narrative surrounding the rise of domestic computing power, which has attracted significant market interest [3]. Group 3: Key Events and Developments - The release of DeepSeek V3.1 and its focus on next-generation domestic chip design has accelerated the integration of domestic large models and computing power [5]. - Concerns over "chip backdoor" risks have led Nvidia to halt production of certain chips for the Chinese market, creating opportunities for domestic chip manufacturers [5]. Group 4: Economic Context - The Federal Reserve's stance on interest rates remains cautious, with indications that there may not be a rate cut in the near term, which could impact market sentiment [4]. - The U.S. Department of Defense plans to procure cobalt for strategic reserves, highlighting ongoing shifts in global supply chains [6].