Venture(US:VEMLY) Shang Hai Zheng Quan Bao·2025-09-17 19:28Market Performance - On September 17, Chinese assets experienced a strong rally, with A-shares' three major indices rising, particularly the ChiNext Index which surged nearly 2% to surpass 3100 points, marking a new high in over three and a half years [1] - The Shanghai Composite Index closed up 0.37% at 3876.34 points, the Shenzhen Component Index rose 1.16% to 13215.46 points, and the ChiNext Index increased by 1.95% to 3147.35 points, with total trading volume in the Shanghai and Shenzhen markets reaching 240.29 billion yuan, an increase of 35.9 billion yuan from the previous day [1] - The Hang Seng Index rose 1.78% to 26908.39 points, while the Hang Seng Tech Index surged over 4% to 6334.24 points, both reaching new highs in nearly four years [1] Semiconductor Sector - On September 17, the semiconductor and chip sectors saw significant gains, with stocks like Xintong New Science and Technology, Liyang Chip, and Wavelength Optoelectronics hitting the daily limit of 20% [2] - SMIC's A-shares rose nearly 7%, reaching a historical high of 120.8 yuan per share, while its H-shares increased over 7% to a peak of 67.8 Hong Kong dollars per share, also a historical high [2] - According to Dongwu Securities, the global semiconductor industry is expected to recover in 2024, driven by demand from AI and government subsidies, with global semiconductor sales projected to reach 589.8 billion dollars in 2025, a 27% year-on-year increase [2] Energy Storage Sector - Energy storage concept stocks surged, with Lihexing hitting the daily limit of 20%, and Yangdian Technology rising nearly 17% [3] - CATL's A-shares increased nearly 7%, reaching a historical high, while its H-shares rose over 5%, marking a new high since its listing [3] Industry Outlook - CATL's chairman stated that China currently possesses the most complete, largest, and technologically advanced energy storage industry chain globally, with energy storage battery and system shipments accounting for over 90% and 70% of the global market, respectively [5] - JPMorgan recently upgraded CATL's H-shares rating to "overweight," citing significant increases in the battery value chain and an upward revision of profit forecasts for 2025-2026 by approximately 10% due to unexpected demand for energy storage batteries [5] Factors Supporting Chinese Assets - Multiple factors are expected to support the continued strength of Chinese assets, including accelerated economic transformation, improved economic visibility, and capital market reforms [6] - Central China Securities noted that global capital inflows into the A-share market and the shift of household savings towards capital markets are creating a sustained source of incremental funds [6] - The expectation of a more accommodative global liquidity environment due to signals from the Federal Reserve regarding interest rate cuts is also seen as beneficial for foreign capital returning to A-shares [6]