证券时报·2025-10-12 02:26Core Viewpoint - The article discusses the recent trends in A-share market performance, highlighting the impact of institutional research on stock prices and the focus on specific companies that have attracted significant institutional interest [3][4]. Group 1: Market Trends - A-share market showed a slight increase before the National Day holiday and a mixed performance afterward [3]. - From September 29 to October 10, 105 listed companies received institutional research, with approximately 60% of these companies achieving positive returns [4]. Group 2: Institutional Research Highlights - Three companies, including 首创环保 (Shou Chuang Environmental Protection), 九丰能源 (Jiu Feng Energy), and 晶晨股份 (Jing Chen Co.), received over 100 institutional research visits [5][10][14]. - 首创环保 was queried about the expiration of its water business project concessions and strategies to mitigate risks, indicating a proactive approach to extending project durations through various measures [6][8]. - 九丰能源's second-phase project for coal-to-natural gas production attracted attention, with the company emphasizing a conservative approach to cost and revenue projections [10][12]. - 晶晨股份 reported significant advancements in AI technology, with 19 commercial chips featuring self-developed intelligent processing units, indicating a strong focus on R&D in AI-related fields [14]. Group 3: Company-Specific Insights - 首创环保 aims to leverage receivables to extend concession periods for quality projects, while also addressing debt reduction efforts with 8.18 billion yuan received for debt clearance in the first half of 2025 [8]. - 九丰能源's investment in a coal-to-natural gas project is projected to yield better-than-expected profitability due to conservative financial modeling [12]. - 华峰测控 (Hua Feng Measurement Control) received 81 institutional visits, with a focus on its order structure and the semiconductor industry's outlook, predicting continued growth driven by demand in AI computing and automotive electronics [15][17].