华龙证券：华龙内参2024年第164期，总第1723期（电子版）-20240906

Market Analysis - The market experienced fluctuations with the Shanghai Composite Index falling below 2800 points, reaching a new low for the current phase, while the ChiNext Index showed relatively stronger performance [3] - The overall market saw more stocks declining than rising, with nearly 3900 stocks down. The total trading volume in the Shanghai and Shenzhen markets was 559.4 billion yuan, a decrease of 21.2 billion yuan from the previous trading day [3][4] - Key sectors that performed well included pharmaceutical commerce, solid-state batteries, insurance, and education, while sectors such as ST stocks, oil and gas, consumer electronics, and non-ferrous metals faced declines [3] Data Insights - As of September 3, the financing balance on the Shanghai Stock Exchange was reported at 728.447 billion yuan, a decrease of 0.021 billion yuan from the previous trading day. The Shenzhen Stock Exchange's financing balance was 652.974 billion yuan, down by 0.043 billion yuan, bringing the total financing balance across both exchanges to 1.381421 trillion yuan, a reduction of 0.0451 billion yuan [4] Investment Advisory Views - The market is expected to continue its downward trend, with individual stocks showing divergence after a period of broad increases. The major indices opened lower and trended downwards, with the Shanghai Composite Index likely to approach previous lows in the 2700-point range [5] - Short-term operations may require patience as the number of declining stocks increases, indicating a potential for further market corrections [5] Concept Highlights - The introduction of Wi-Fi 7 is anticipated to drive significant demand in the telecommunications sector, with projections indicating a compound annual growth rate (CAGR) exceeding 100% from 2024 to 2028, leading to a penetration rate of 26% for Wi-Fi 7 consumer electronics by 2028 [6] - Advances in solid-state battery technology, particularly a new lithium-sulfur positive electrode material developed by Chinese researchers, could enhance energy density beyond 600 watt-hours per kilogram, significantly outperforming current lithium-ion batteries [7] - The establishment of a comprehensive service platform for remote sensing data in China is expected to facilitate the rapid development of the data element market, projected to reach nearly 200 billion yuan by 2025 [7] Upcoming Major Events - The 2024 Berlin Consumer Electronics Show will take place from September 6 to 10, focusing on the consumer electronics sector [9] - The 2024 Low Altitude Economy Development Conference is scheduled for September 6 to 8 in Wuhu, which may impact the low-altitude economy sector [9] - The inaugural Huawei HiSilicon All-Connect Conference will be held on September 9, potentially influencing the Huawei HiSilicon sector [9]