Cambricon(SH:688256) Xin Lang Ji Jin·2025-09-30 12:12Market Overview - The A-share market continued its upward trend, with the Shanghai Composite Index rising by 0.52% and the Shenzhen Component Index increasing by 0.35% as of the market close on September 30 [1] - All three major indices have recorded five consecutive months of gains, with the ChiNext Index achieving a quarterly increase of over 50%, marking its second-best performance in history [1] Sector Performance - The non-ferrous metals sector saw significant gains, with the Non-Ferrous Metal Leaders ETF (159876) rising by 3.52% [2] - The AI sector also performed well, particularly the Sci-Tech Innovation AI ETF (589520), which surged by 3.28% following positive developments from DeepSeek and Cambrian [2][3] - The defense and real estate sectors showed strong performance, with the Defense Industry ETF (512810) and Real Estate ETF (159707) both increasing by over 2% [1] - The chemical sector, particularly lithium and fluorine chemicals, continued to rise, with the Chemical ETF (516020) reaching a daily increase of 2.12% [1] Investment Trends - Global fund managers are returning to the Chinese market, with reports indicating that hedge funds have shown the highest activity in China's stock market in recent years [2] - The current market sentiment is positive, with increased trading activity and a rise in the number of participating investors, suggesting that the upward trend in A-shares may continue [2] AI Sector Developments - The release of the DeepSeek-V3.2-Exp model and its adaptation by Cambrian has positively impacted the AI sector, leading to a significant increase in the Sci-Tech Innovation AI ETF [5] - The domestic AI industry is expected to accelerate, driven by advancements in both AI models and domestic chip technology [5][6] - The AI sector is viewed as a key driver of the new technological revolution and industrial transformation [5] Chemical Sector Insights - The Chemical ETF (516020) has shown a strong performance, with a quarterly increase of over 26%, significantly outperforming major indices like the Shanghai Composite Index [11] - The chemical industry is expected to undergo a profitability recovery due to improved supply-demand dynamics and regulatory measures to eliminate inefficient production capacity [14] - Investment opportunities in the chemical sector are highlighted, particularly in areas benefiting from policy support and industry self-discipline [13][14]