华龙证券华龙内参2024年第142期，总第1701期（电子版）

Market Analysis - The market experienced a continuous decline after a rebound, with the ChiNext index leading the drop. The overall market saw more than 4,100 stocks decline, with a trading volume of 722.3 billion, down 60 billion from the previous trading day [3][5] - The sectors that performed well included CRO, precious metals, innovative drugs, and pork stocks, while AI hardware and CPO concept stocks faced significant declines [3][5] Data Insights - As of August 1, the financing balance on the Shanghai Stock Exchange was 742.794 billion, an increase of 0.897 billion from the previous trading day. The Shenzhen Stock Exchange's financing balance was 672.146 billion, up by 1.373 billion, bringing the total financing balance for both exchanges to 1,414.94 billion, an increase of 2.27 billion [4] Investment Advisory Views - The trading volume has decreased again, with two consecutive days below 800 billion, indicating a lack of conditions for further rebounds. The Shanghai Composite Index faced resistance near the 2,950-point mark and has fallen below the 5-day and 34-day cost moving averages, indicating a bearish trend [5] Concept Highlights - The low-altitude economy is gaining traction, with Shenzhen's development conference aiming to enhance the industry's competitiveness. By 2025, the city plans to have over 75% of the low-altitude airspace below 120 meters open and over 1,000 commercial flight routes established. The low-altitude economy is projected to exceed 1 trillion by 2026, with significant contributions to the national economy expected by 2025 [6] Key News - China's successful launch of the high-orbit satellite for internet services marks a significant milestone, with the satellite entering its designated orbit. This event is expected to accelerate the growth of the satellite internet market, which is becoming a strategic national project [7] - In Q2 2024, global silicon wafer shipments increased by 7.1% quarter-on-quarter, reaching 3,035 million square inches, although down 8.9% year-on-year. The demand is driven by data centers and generative AI products, indicating a recovery in the silicon wafer market [7]