从“题材狂欢”转向“逻辑筛选”，AI应用现涨停潮

Market Overview - The A-share market experienced a significant adjustment with a "low open, low walk, and weak rebound" pattern, reflecting a phase of panic release due to external market declines and regulatory pressures [1] - The Shanghai Composite Index closed down 0.81%, reaching a low of 3926 points during the day, while the Shenzhen Component Index fell 0.92% and the ChiNext Index dropped 1.16% [2] - Total trading volume for the day was 1.93 trillion yuan, indicating an increase of 153 billion yuan compared to the previous day, suggesting that institutions are accelerating their risk-averse adjustments [1] Technical Analysis - The Shanghai Composite Index is approaching a strong support zone between 3930-3940, forming a "three consecutive declines + single-day volume drop" pattern, with market sentiment at a low point [3] - Despite the overall index weakness, several stocks in the AI application sector hit the daily limit, indicating that funds are still active and searching for more certain investment opportunities [3] Industry and Hotspot Capture - The market has shifted dramatically between "AI applications and Huawei technology breaking through against high-flying stocks and resource cycles collapsing," with AI applications emerging as the only sector with global mapping, event density, and low starting advantages [4] - The decline in lithium battery and coal sectors signifies the end of speculative trading patterns, with market sentiment reaching a low point often preceding a rebound [4] AI Applications - AI applications have seen a comprehensive explosion, with stocks like Xuan Ya International, Yuan Long Yatu, and Fu Shi Holdings hitting the daily limit, driven by factors such as Alibaba's "Qianwen" app public testing and Warren Buffett's investment in Google [5] - The shift in funding from hardware to application sectors indicates a new breakthrough in small-cap AI themes [5] Huawei Ecosystem - Stocks like Rongji Software, Geer Software, and Tongyi Co. have also seen significant gains, supported by news of strong demand for SMIC's production lines and Huawei's AI chip breakthroughs [6] - The Huawei supply chain is becoming a core carrier for domestic technology autonomy, backed by both policy and technological support [6] Forward Strategy - Caution is advised for high-flying stocks, as even if some commodity prices reach new highs, stock prices may have already priced in expectations, leading to potential uncertainties [7] - The current market adjustment is seen as a rational consolidation after a main upward trend, focusing on distinguishing between "true logic" and "false hotspots" [7] - Future institutional focus is expected to be on "countermeasures + risk aversion," with attention on sectors such as dividends, non-ferrous metals, banking, steel, agriculture, AI, gold, batteries, chips, robotics, and innovative pharmaceuticals [7]