午评：沪指和深成指延续调整态势 旅游股领涨 CPO概念股领跌

Market Overview - The Shanghai and Shenzhen stock indices showed mixed performance on September 4, with the Shanghai Composite Index down 0.15%, while the Shenzhen Component Index and the ChiNext Index rose by 0.44% and 1.18% respectively [1] - By midday, the Shanghai Composite Index fell by 1.97% to 3738.32 points, with a trading volume of approximately 689.5 billion yuan, while the Shenzhen Component Index dropped 2.37% to 12176.90 points, with a trading volume of about 905.6 billion yuan [1] Sector Performance - CPO, innovative pharmaceuticals, and electrical equipment sectors led the gains at the opening, while sectors like BC batteries, copper cable connections, and solid-state batteries showed strong performance initially [1] - By midday, tourism, battery, and duty-free shop sectors were among the top gainers, while sectors such as CPO, semiconductors, and components faced significant declines [1] Battery Industry Insights - According to CITIC Securities, leading battery manufacturers are experiencing full orders and capacity shortages, with some companies nearing full order capacity for energy storage batteries by 2026 [2] - The domestic energy storage market is entering a price turning point, with expectations for battery manufacturers and leading integrators to gain incremental profits starting in 2025 [2] Lithium Battery Supply Chain - Huatai Securities reported that the lithium battery supply chain is seeing an increase in production, with battery production up 7.4% month-on-month to 124.8 GWh, driven by rising demand from commercial electric vehicles and energy storage [2] - The overall industry outlook remains positive, with limited room for price reductions in battery and material segments, and improved profitability expected in Q3 [2] Renewable Energy Policy - The National Energy Administration is actively promoting the development of emerging industries such as offshore wind power and solar thermal power, emphasizing the need for market-oriented reforms and competitive energy enterprises [4] - Key areas of focus include accelerating the implementation of renewable energy pricing reforms and fostering innovative energy business models [4] Index Adjustments - The STAR Market series indices will undergo quarterly adjustments on September 12, with a 10% weight limit for individual stocks to ensure balanced representation [5][6]