Zheng Quan Shi Bao·2025-09-30 09:41Market Overview - A-shares experienced a strong performance in September, with major indices closing higher, including a 12% increase in the ChiNext Index, marking a three-year high, and an 11% rise in the Sci-Tech 50 Index, reaching a four-year high [1] - The Shanghai Composite Index rose 12.73% and the Shenzhen Component Index increased by 29.25% over the quarter, with all major indices achieving five consecutive monthly gains [1] Sector Performance - The financial and liquor sectors saw declines, while the non-ferrous metals sector surged, with companies like Jiangxi Copper and Jingyi Co. hitting the daily limit [2][3] - The storage chip concept was active, with stocks like Jiangbolong and Huahong Semiconductor reaching new highs [2][7] - The military trade concept gained traction, with companies such as Guorui Technology and AVIC Shenfei hitting the daily limit [2][10] Non-Ferrous Metals Sector - The non-ferrous metals sector showed strong performance, particularly in cobalt and nickel, with Jiangxi Copper and other companies reaching the daily limit [3] - The cobalt market saw a significant price increase, with the average price of 1 cobalt reaching 337,000 CNY/ton, a daily increase of 29,000 CNY, marking the largest single-day rise this year [3][6] Chip Sector - The storage chip sector saw strong gains, with Jiangbolong hitting a 20% limit up and other companies like Huahong Semiconductor and Demingli also achieving significant increases [7][9] - NAND flash prices are expected to rise due to increased demand and supply constraints, with predictions of a 5%-10% increase in prices by Q4 2025 [9] Military Trade Sector - The military trade sector is expected to benefit from increased global defense spending due to heightened security concerns, with a focus on Chinese equipment exports [10]