Core Viewpoint - Yachuang Electronics (301099) clarified on October 27 that the company does not engage in products related to quantum technology or quantum computing [1] Group 1 - The company confirmed its non-involvement in the quantum technology sector [1]

Core Insights - The A-share market has seen a collective surge in quantum technology stocks, with notable increases in companies such as GuoDun Quantum and DaHua Intelligent [1][2] - The Central Committee of the Communist Party of China has proposed the development of emerging pillar industries, including quantum technology, as part of the 15th Five-Year Plan, which is expected to create several trillion-yuan markets [1] Company Performance - GuoDun Quantum (688027) rose by 10.54%, with a market capitalization of 47.6 billion and a year-to-date increase of 55.18% [2] - DaHua Intelligent (002512) increased by 10.09%, with a market cap of 5.462 billion and a year-to-date rise of 3.59% [2] - HengBao Co. (002104) reached a 9.99% increase, with a market cap of 15.8 billion and a year-to-date surge of 232.75% [2] - Other notable performers include GuangKu Technology (300620) up 5.85%, GuangXun Technology (002281) up 5.19%, and KeDa GuoChuang (300520) up 4.95% [2] Industry Trends - The proposed 15th Five-Year Plan emphasizes the acceleration of strategic emerging industries such as quantum technology, bio-manufacturing, hydrogen energy, and nuclear fusion, which are expected to become new economic growth points [1] - The plan aims to lay a forward-looking foundation for future industries, potentially reshaping China's high-tech sector over the next decade [1]

Market Overview - On October 27, A-shares opened higher across the board, with notable gains in sectors such as communication equipment, semiconductors, CPO concepts, components, and electrical equipment [1] - Conversely, sectors like coal, banking, oil, and hotel catering experienced declines [1] Stock Performance - The stock of Xiangcai Co. (600095) saw a significant increase, reaching a peak of 14.57, marking a rise of 9.41% [2] - Securities stocks experienced a surge, with Xiangcai Co. hitting the limit up, and other securities firms like CITIC Securities, Dongxing Securities, GF Securities, and Guosen Securities also rising [3] Hong Kong Market - The Hang Seng Index and Hang Seng Tech Index both opened higher, with tech stocks continuing to rise; Alibaba increased by nearly 3% and Tencent by nearly 2% [4] - Pharmaceutical stocks rebounded, with WuXi AppTec rising by nearly 6%, and precious metals and other sectors saw broad gains, with Luoyang Molybdenum rising over 7% [4] Emerging Concepts - The controllable nuclear fusion concept stocks showed strong fluctuations, with Dongfang Tantalum rising for two consecutive days, and companies like Nuwai Co. and Anhui Instrument Technology hitting the limit up [6] - The Central Committee's proposal for the 15th Five-Year Plan emphasizes the development of future industries, including nuclear fusion energy, as a new economic growth point [8] Computing and Storage - Computing hardware stocks were active, with Dongtian Microelectronics rising over 16% and Shijia Photon increasing over 13% [9] - The storage chip sector was also lively, with Puran Co. surging by 10% to reach a new high, driven by major suppliers like Samsung and SK Hynix adjusting prices by up to 30% to meet the rising demand for AI-driven storage chips [10] Quantum Technology - Quantum technology stocks saw rapid growth, with Dahua Intelligent hitting three consecutive limits up, and companies like Geer Software and Keda Guochuang also rising [12] - Reports indicated that Google's quantum AI lab achieved a verifiable quantum advantage with its "Willow" chip, while China's telecom quantum research institute made breakthroughs in quantum communication [14] Lithium and Other Concepts - Lithium mining stocks rose, with Fangyuan Co. increasing over 12%, alongside other companies like Xinxinda and Guoxuan High-Tech showing significant gains [12] - The photoresist concept stocks opened significantly higher, with Tongcheng New Materials hitting the limit up and other companies like Aisen Co. and Jingrui Electric Materials rising over 10% [12]

早盘提示 Morning session notice 研究员： 于军礼 从业资格： F0247894 交易咨询资格：Z0000112 联系方式：yujunli@greendh.com | 板块 | 品种 | 多（空） | 推荐理由 【行情复盘】 | | --- | --- | --- | --- | | | | | 在四中全会公报利好鼓舞下，周五两市主要指数高开上行，科技板块领涨。两市成 | | | | | 交额 1.97 万亿元，上涨放量。沪深 300 指数收 4660 点，涨 54 点，涨幅 1.18%；上 | | | | | 证 50 指数收 3045 点，涨 18 点，涨幅 0.63%；中证 500 指数收 7258 点，涨 115 点， | | | | | 涨幅 1.62%；中证 1000 指数收 7419 点，涨 111 点，涨幅 1.52%。行业与主题 ETF | | | | | 中涨幅居前的是通信设备 ETF、创业板人工智能 ETF 国泰、科创成长 ETF、5G ETF、 | | | | | 科创芯片 ETF 基金，跌幅居前的是酒 ETF、煤炭 ETF、油气 ETF。两市板块指数中涨 | | ...

Market Overview - US stock markets saw a broad increase last Friday, with the Dow Jones rising by 1.01%, the Nasdaq by 1.15%, and the S&P 500 by 0.79%. Notably, Apple reached a record closing price of $262.83 [1] - The core CPI in the US for September grew by 0.2%, marking the slowest growth in three months, which has heightened expectations for another interest rate cut by the Federal Reserve [2] Company Developments - NVIDIA's CEO Jensen Huang will deliver a keynote speech at the NVIDIA GTC event from October 27 to 29 [3] - IBM announced that common AMD chips can run quantum computing error correction algorithms [4] - Elon Musk's Neuralink co-founder achieved a milestone in artificial vision [5] - Goldman Sachs significantly raised Alibaba's capital expenditure forecast to 460 billion yuan, citing explosive growth in inference demand and increased AI efficiency driving stronger revenue [6] Domestic Events - China and the US reached a basic consensus on trade negotiations in Kuala Lumpur, agreeing to further define specific details and follow domestic approval procedures [7] - President Xi Jinping will attend the APEC informal leaders' meeting in South Korea from October 30 to November 1 [7] - The People's Bank of China emphasized the need for a robust monetary policy framework and the promotion of the internationalization of the renminbi [7] Industry Insights - The National Development and Reform Commission aims to promote quantum technology, biomanufacturing, hydrogen energy, nuclear fusion, brain-computer interfaces, embodied intelligence, and 6G mobile communication as new economic growth points [8] - Tencent disclosed that AI now generates 50% of its new code, with a 67% year-on-year increase in R&D automation levels [9] Stock Market Highlights - A new IPO for Fengbei Biotechnology is set at a price of 24.49 yuan per share, requiring a minimum subscription value of 110,000 yuan [24] - Several companies announced significant changes, including Ying Tang Intelligent Control planning to acquire stakes in Guanglong Integration and Ao Jian Microelectronics, and Shutaishen planning to raise up to 1.253 billion yuan for innovative drug development [25] Performance Metrics - Notable companies reaching historical highs include Xiangnan Chip Creation with a 20% increase, and Jin Feng Technology with a 170.64% rise in net profit for Q3 [26][25]

Group 1 - OpenAI has launched the AI browser ChatGPT Atlas, marking a significant shift in how AI is reshaping internet access, currently available for macOS users [2] - ChatGPT Atlas integrates a "tool + AI" paradigm, enhancing the browser's functionality to act as an intelligent task terminal, supporting complex operations like booking tickets and purchasing groceries [2] - The "14th Five-Year Plan" emphasizes the importance of advancing key technologies in integrated circuits, high-end instruments, and quantum technology, aiming to create new economic growth points over the next decade [3] Group 2 - Several US quantum computing companies are negotiating with the US Department of Commerce to secure federal funding in exchange for equity, indicating an increase in government intervention in critical economic sectors [4] - Companies involved in these discussions include IonQ, Rigetti Computing, D-Wave Quantum, Quantum Computing Inc., and Atom Computing, each seeking a minimum of $10 million in funding [4] - The funding application process may also involve terms such as warrants, intellectual property licenses, and revenue sharing, expanding the potential for collaboration between the government and technology firms [4]

Group 1 - The article highlights significant announcements in the stock market, including suspensions, investments, acquisitions, and performance reports, aimed at helping investors identify potential opportunities and risks [1] - The company is involved in various high-tech sectors such as storage chips, robotics, PCB, 6G, Huawei HiSilicon, liquid-cooled servers, third-generation semiconductors, and data centers, indicating a diverse product line [1] - Another company is focusing on quantum technology, chips, low-altitude economy, military industry, and trusted computing, showcasing its commitment to advanced technology and security [1] Group 2 - A company reported a more than 1,400% year-on-year increase in net profit in the third quarter, attributed to its solid-state battery technology, which has accumulated nearly 20,000 kilometers in test vehicle mileage [1]

Group 1 - OpenAI launched the AI browser ChatGPT Atlas, marking a significant shift in how AI can reshape internet access, currently available for macOS users [1] - ChatGPT Atlas integrates a "tool + AI" paradigm, enhancing the browser's functionality to serve as an intelligent task terminal, capable of complex operations like booking flights and purchasing groceries [1] - The Chinese government emphasizes the importance of technology in the "14th Five-Year Plan," focusing on key areas such as integrated circuits, quantum technology, and other future industries to drive economic growth [2] Group 2 - Several U.S. quantum computing companies are negotiating with the U.S. Department of Commerce to secure federal funding in exchange for equity, indicating increased government intervention in key economic sectors [3] - Companies like IonQ, Rigetti Computing, and D-Wave Quantum are among those discussing potential government investment, with each company expected to receive at least $10 million [3] - The U.S. Department of Commerce's funding application process may include various terms beyond equity, such as warrants, intellectual property licenses, and revenue-sharing agreements [3]

Group 1 - The core view of the report indicates that the index is expected to reach new highs, with limited adjustment space and a short-term nature of the recent market corrections [3][12]. - Market sentiment is improving due to a basic consensus reached between China and the US on addressing mutual concerns, which is likely to reduce short-term uncertainties [3][12]. - The technology sector remains the main focus of the current market trend, with a consensus among investors that technology will continue to lead economic expectations [4][13]. Group 2 - The report emphasizes the importance of AI as a core theme in the China-US resonance, highlighting sectors such as communications, electronics, computing, media, and major internet companies [4][13]. - The report identifies a new cycle driven by supply-demand balance in the non-ferrous metals sector, suggesting a focus on gold, rare earths, and copper due to the global monetary easing cycle and strategic resource positioning [4][13]. - Future industries are highlighted as key growth points, with a focus on quantum technology, bio-manufacturing, hydrogen energy, nuclear fusion, brain-machine interfaces, embodied intelligence, and sixth-generation mobile communications [5][14].

Core Points - The Central Committee of the Communist Party of China held a press conference on October 24 to interpret the spirit of the Fourth Plenary Session of the 20th Central Committee, which took place from October 20 to 23, marking a critical period for achieving the main goals of the 14th Five-Year Plan and laying the foundation for socialist modernization [1][3] Economic and Social Development - The Plenary Session approved the "Suggestions on Formulating the 15th Five-Year Plan for National Economic and Social Development," which comprehensively outlines the economic and social development strategies for the next five years [3][4] - The plan emphasizes building a modern industrial system and strengthening the foundation of the real economy, with four key tasks: upgrading existing industries, fostering innovation, expanding capacity and improving quality, and enhancing efficiency [4] Industry Development - The plan aims to enhance key industries such as chemicals, machinery, and shipbuilding, projecting an additional market space of approximately 10 trillion yuan over the next five years [4] - It proposes the development of emerging pillar industries, including new energy, new materials, aerospace, and low-altitude economy, which are expected to create several trillion-yuan markets [4] - The plan also highlights the importance of future industries like quantum technology, biomanufacturing, hydrogen energy, and sixth-generation mobile communication as new economic growth points [4] Infrastructure and Investment - The plan calls for coordinated planning of infrastructure and the construction of new types of infrastructure, aiming to improve the modern comprehensive transportation system [5] - It emphasizes expanding domestic demand as a strategic foundation, focusing on enhancing consumption and investment, and implementing significant projects to stimulate economic growth [5] - The plan suggests optimizing government investment structures to increase the proportion of investments in public welfare and improve the overall effectiveness of government investments [5] Regional Development - The plan outlines five key tasks for regional development, focusing on optimizing layouts, promoting new urbanization, and coordinating land and sea development [5] Health and Medical Services - The health sector aims to increase the average life expectancy of Chinese residents to around 80 years over the next five years, with a focus on preventive care and improving health literacy [7][8] - The plan emphasizes a comprehensive service model to enhance early diagnosis and treatment of chronic diseases, improving the efficiency and effectiveness of health outcomes [7] - It also aims to strengthen the collaboration between different levels of medical institutions to provide accessible and high-quality healthcare services [8]