“9·24行情”一周年：A股迎历史性蜕变，科技引领结构性牛市

Core Viewpoint - The A-share market has experienced a significant recovery over the past year, characterized by a "structural bull market" focused on technological innovation and high-quality development, leading to substantial gains in various indices and individual stocks [1][2]. Market Performance - The major indices such as the ChiNext Index, STAR Market 50, and North China 50 have all seen gains exceeding 100% over the past year, with specific increases of 103.50%, 118.85%, and 158.01% respectively [3]. - The Shanghai Composite Index and CSI 300 have risen by 39% and 41% respectively, while the North China 50 has surged by 158% [1][3]. - Nearly 3,000 stocks in the market have increased by over 50%, with more than 1,400 stocks doubling in price [1][10]. Trading Activity - The total trading volume in the A-share market has significantly increased, with a cumulative turnover of 410.99 trillion yuan in the year following the "9·24" event, marking a 117% increase from the previous year [5]. - The average daily trading volume rose to 1.68 trillion yuan, a 113% increase, with the maximum daily turnover reaching 3.48 trillion yuan, up 154% [5]. Market Capitalization - The total market capitalization of A-shares increased from 84.5 trillion yuan to 104 trillion yuan over the year, reflecting a growth of approximately 23% [6]. Sector Performance - All 31 primary industry indices achieved positive returns, with telecommunications, electronics, and comprehensive indices seeing gains over 100% [11]. - The technology sector has been particularly strong, with significant contributions from areas such as humanoid robots, semiconductors, and innovative pharmaceuticals [13]. Notable Stocks - A total of 1,435 stocks have doubled in price, with three stocks increasing by over ten times: Shangwei New Materials (1720.50%), *ST Yushun (1133.01%), and Shenghong Technology (1061.66%) [8][9]. - The top-performing sectors include communication, electronics, and comprehensive indices, while traditional sectors like coal and oil have lagged behind [11][13]. New Economic Landscape - The market has shifted from a traditional focus on banking and energy sectors to a new economy dominated by technology and innovation, with many new entrants in the trillion and billion yuan market capitalization clubs [15]. - The number of companies with a market cap exceeding 1 trillion yuan has increased, indicating a growing recognition of technology and new economy enterprises [14][15].