Venture(US:VEMLY) Jin Rong Jie·2026-02-26 07:11Market Overview - The A-share market exhibited a weak oscillation pattern on February 26, with the Shanghai Composite Index closing at 4146.63 points, down 0.01%, while the Shenzhen Component Index rose 0.19% to 14503.79 points. The ChiNext Index fell 0.29% to 3344.98 points, and the STAR Market 50 Index increased by 0.85% to 1485.86 points. The total trading volume in the Shanghai and Shenzhen markets reached 2.54 trillion yuan, an increase of 759 billion yuan from the previous trading day, with over 2800 stocks declining [1]. Key Sectors Computing Power Sector - The computing power sector saw significant activity, driven by Nvidia's impressive earnings report, which boosted global market confidence in AI computing power. Nvidia's CEO highlighted the arrival of an "AI inflection point," further energizing the market. Stocks in the computing power hardware sector, including optical fiber cables, PCBs, and liquid-cooled servers, experienced strong performance, with companies like Huadian Technology and ShenNan Circuit hitting their daily limits [2]. Power Sector - The power and power grid equipment stocks showed a clear upward trend, with companies like Shima Power and Huayin Power reaching their daily limits. The National Energy Administration's recent announcement regarding the addition of 45.2 million kilowatts of renewable energy generation capacity by 2025, a 21% year-on-year increase, provided solid support for the rise in power stocks [3]. Commercial Aerospace Sector - The commercial aerospace sector continued to gain momentum, with stocks like Fushun Special Steel and Aerospace Power hitting their daily limits. The upcoming launch of the reusable liquid-fueled rocket by China Aerospace is expected to enhance the sector's investment appeal, with analysts predicting significant growth potential by 2026 [4]. Minor Metals Sector - The minor metals sector was active, with Yunnan Zhenye and Zhangyuan Tungsten both reaching their daily limits. The U.S. government's plan to establish reference prices for critical minerals, including germanium and tungsten, has stimulated interest in this sector [5]. Underperforming Sectors - The film and cinema sector faced ongoing adjustments, with Bona Film Group experiencing a nearly 9% drop. The real estate sector also saw declines, with companies like Hualian Holdings and Chengdu Investment falling over 5%. Other sectors, including oil services and insurance, also faced downward pressure, indicating a market divergence across different industries [6]. Institutional Insights - JPMorgan's chief strategist indicated that the A-share market has entered a "slow bull" phase, characterized by a focus on earnings rather than just liquidity. The market is expected to see sustainable returns if net profit margins improve [8]. - According to a report from Lianbo Fund, the A-share market is anticipated to shift from "valuation recovery" to "profit-driven" by 2026, with corporate profitability being the key driver for market sustainability [9]. - CITIC Securities highlighted that Zimbabwe's lithium export ban could lead to a short-term supply shortage of lithium carbonate in China, potentially driving up lithium prices and suggesting a focus on unaffected stocks [11].