Venture(US:VEMLY) Zhong Guo Jin Rong Xin Xi Wang·2025-11-21 04:14Market Overview - A-shares experienced a collective decline, with the Shanghai Composite Index down 1.88% to 3857.24 points, and the Shenzhen Component Index down 2.72% to 12627.85 points, reflecting a total trading volume of 5420 billion and 7635 billion respectively [1] - The Korean Composite Index fell significantly, dropping over 4% at one point, while the Nikkei 225 Index in Japan also saw a decline of 2.09% [1] Sector Performance - The military industry and agriculture sectors showed some resilience, with stocks like Jiuzhiyang and Qianyinhigh Technology hitting the daily limit [2] - Conversely, the lithium mining sector faced a collective adjustment, with multiple stocks, including Shengxin Lithium Energy, hitting the daily limit down [2] Institutional Insights - The market is currently characterized by a shift in risk appetite, with semiconductor and new energy stocks experiencing a pullback, while dividend stocks remain stable [3] - The trading volume has decreased to below 20 trillion, indicating a market focused on existing capital rather than new inflows, leading to increased volatility among sectors [4] - Institutions remain optimistic about technology sectors like AI and new energy in the long term, despite short-term profit-taking pressures [4] Energy Consumption Data - In October, the total electricity consumption in China reached 857.2 billion kilowatt-hours, marking a year-on-year increase of 10.4% [5][6] - The growth in electricity consumption was driven by the tertiary sector, which saw a 17.1% increase, particularly in the charging and information technology services [6] Notable Industry Developments - OpenAI has launched a group chat feature for ChatGPT, now available to all users globally, which may impact the AI sector positively [6] - Two prominent figures from the automotive industry, from BYD and CATL, were elected as academicians, highlighting the growing recognition of talent in the sector [6]