Xuan Gu Bao·2025-09-25 08:34Market Review - The Shanghai Composite Index experienced narrow fluctuations, while the ChiNext Index rose over 2%, reaching a new three-year high, with CATL's stock hitting an all-time high [1] - AI hardware and applications saw collective strength, with companies like Cambridge Technology and Inspur Information hitting their daily limit [1] - The controlled nuclear fusion concept surged, with Shanghai Electric and Hezhong Intelligent hitting their daily limit [1] - The chip industry chain remained active, with Zhangjiang Hi-Tech, Tongfu Microelectronics, and Kaimete Gas achieving historical highs [1] - The shipping sector faced collective adjustments, with Nanjing Port and Ningbo Shipping dropping over 5% [1] - Over 3,800 stocks in the Shanghai and Shenzhen markets declined, with a total transaction volume of 2.39 trillion [1] Daily Highlights Nuclear Fusion - The nuclear fusion concept saw significant gains, with stocks like Hezhong Intelligent, Haheng Huaton, and Wujin Stainless Steel hitting their daily limit [4] - China Fusion Energy Co., established with a registered capital of 15 billion yuan, made its public debut at the 25th China International Industry Fair, showcasing its technology and business layout [4] - The company aims for commercial fusion energy by 2050, with plans to build a fusion experimental device named "China Circulation No. 4 (HL-4)" in Shanghai [4] Computing Power - The computing power sector was active, with Zhongdian Xindong achieving three daily limits in four days, and stocks like Ningbo Construction and Guangdian Electric hitting their daily limit [7] - Alibaba's CEO announced increased capital expenditure at the 2025 Cloud Summit, with a focus on large-scale clusters and distributed training capabilities [7] - The GPU cloud rental market is expected to grow significantly, reaching $12.8 billion by 2033 due to the demand for AI training and inference [9] Nonferrous Metals - The nonferrous metals sector saw a surge, with stocks like Jingyi Co. and Nairui Mining hitting their daily limit [10] - A fatal landslide at Freeport McMoRan's Grasberg mine in Indonesia led to a significant rise in global copper prices, with LME copper prices increasing by 3.2% [10] - Goldman Sachs classified the incident as a "black swan," predicting a potential loss of 500,000 tons of copper supply over the next 12-15 months [10] Additional Insights - The nuclear fusion sector is expected to see increased orders as research and development progress, with a focus on core components like magnets and power supplies [6] - The high-temperature superconductors are projected to capture 25% of the global superconducting market by 2030, driven by demand from the nuclear fusion industry [6] - The domestic copper market is anticipated to maintain an upward trend due to supply constraints and increasing demand from energy transition and emerging industries [12]