A股收评 | 指数午后回暖 商业航天概念再爆发

Market Overview - The market experienced narrow fluctuations in the early session, with a recovery in the afternoon. The Shanghai Composite Index rose by 0.53%, the Shenzhen Component Index increased by 0.88%, and the ChiNext Index gained 0.77%. The total trading volume for the day was 1.86 trillion yuan, a decrease of 33.2 billion yuan compared to the previous day [1] Key Highlights - The commercial aerospace industry chain saw a significant rebound, with 17 out of 18 stocks containing "aerospace" in their names rising, including Aerospace Engineering hitting the daily limit for the fourth time in three days [2] - The computing power industry chain continued to rotate, with the PCB sector experiencing a surge in the afternoon after previous gains in optical modules and liquid cooling. The power supply equipment sector also saw activity, while PCB stocks exploded again in the afternoon [2] - Financial concept stocks strengthened in the afternoon, driven by expectations for 2025 annual reports and the certainty of non-bank sector performance. Although there was no reduction in the LPR in December, expectations for a reserve requirement ratio cut remain, leading to predictions of a more relaxed liquidity environment in January [2] - The semiconductor industry chain, particularly the memory chip sector and SMIC, attracted significant attention. Other sectors included active performance from Fujian stocks, while consumer stocks like dairy products faced collective adjustments [3] Sector Performance - Commercial Aerospace: The sector continued to thrive, with over 20 component stocks hitting the daily limit. Notable performers included Shenjian Co. with five consecutive limits and Guoji Precision Engineering with four limits in three days. The China Securities Regulatory Commission reported that Blue Arrow Aerospace's IPO guidance work has been completed, with a projected market value of 85 billion yuan for China's commercial aerospace by 2030 [4] - PCB Sector: The PCB sector saw a strong performance, with Shengyi Technology hitting the daily limit and reaching a historical high market value of 176.4 billion yuan. Market predictions indicate that NVIDIA's GB300 AI server cabinet shipments are expected to reach 55,000 units next year, a 129% year-on-year increase [5] - Semiconductor Industry: The semiconductor chip sector strengthened, with Shenghui Integrated achieving three consecutive limits and reaching a historical high. Reports indicate that SMIC has implemented a price increase of about 10% on some production capacities [6] - Fujian Stocks: The Fujian sector showed strong performance, with Anji Food achieving four limits in seven days and Hexing Packaging achieving three consecutive limits [7] Institutional Insights - CITIC Securities: The firm noted that market sentiment is shifting towards stock market speculation, with rapid theme rotation. They suggest focusing on themes such as domestic GPU company listings, advanced processes, Google computing power chains, humanoid robots, autonomous driving, and commercial aerospace [8] - Cinda Securities: The firm anticipates a spring market rally before the 2026 Spring Festival, driven by potential profit improvements and capital inflows. They caution that the current A-share valuations are not low, and external market uncertainties may lead to short-term adjustments [9] - China Galaxy: The firm expects the market to continue its oscillating structure due to year-end liquidity tightening and uncertainties in overseas monetary policies. They highlight the upcoming key window for cross-year layouts and anticipate structural opportunities in policy-driven sectors [9]