Core Viewpoint - The company, Meichang Co., Ltd. (300861), clarified on October 24 that its business does not involve deep earth economy [1] Group 1 - The company responded to investor inquiries on an interactive platform [1]

Core Viewpoint - Yongda Co., Ltd. (001239) emphasizes its role in the emerging "deep earth economy," which focuses on the development of underground spaces and resources, including geological exploration and underground engineering [1] Company Overview - Yongda Co., Ltd. specializes in the production and sales of large specialized equipment metal structural components and high-speed heavy-duty gear forgings [1] - The company serves as a core supplier for China Railway Construction Heavy Industry Co., Ltd., providing a range of metal structural products such as shield bodies, cutter heads, and segment machines [1] Industry Contribution - Yongda Co., Ltd. plays a significant role in the construction of underground engineering projects within the deep earth economy, supplying essential components for tunnel boring machines [1] - Notable projects include the ultra-large diameter tunnel boring machine "Dinghai" developed by China Railway 11th Bureau and China Railway Construction Heavy Industry, as well as the "Dream" vertical shaft tunneling machine, both of which utilize components produced by Yongda Co., Ltd. [1]

Core Viewpoint - The "Deep Earth Economy" has been officially recognized as a strategic emerging industry in China's 14th Five-Year Plan, indicating a significant opportunity for the scientific instrument sector to evolve and innovate in response to technological advancements [1][2]. Summary by Sections Definition of Deep Earth Economy - The "Deep Earth Economy" refers to economic activities that occur underground, including oil and gas resource development, deep coal mining, underground infrastructure construction, geothermal energy utilization, and urban underground space engineering [2]. Instruments and Equipment Involved - A variety of advanced scientific instruments are essential for deep earth exploration, development, and utilization, including: - Geological exploration instruments: sonar detection systems, geological imaging devices, transient electromagnetic equipment, and oil and gas exploration instruments - Rock mechanics and experimental instruments: rock mechanics testing systems, multi-field coupling experimental devices, and nuclear magnetic resonance analyzers - Monitoring and safety instruments: deep earth monitoring systems and geological disaster monitoring equipment - Commonly known oil and mineral analysis instruments: gas chromatographs, petroleum liquefied gas analyzers, density measurement instruments, and viscometers [4]. Market Outlook for Deep Earth Instruments - The market size for instruments related to the "Deep Earth Economy" is expected to reach 3-5 trillion yuan during the 14th Five-Year Plan, with ongoing policy benefits driving explosive growth, particularly in fields such as superhard materials, intelligent drilling, and geological monitoring [5]. Technological Development Needs - There is significant room for technological advancement in the instruments used for oil analysis and exploration. Traditional methods are slow and costly, failing to meet modern production demands. The shift in requirements from slow analysis to rapid precision and from laboratory analysis to in-situ measurements is reshaping the instrument market landscape [6]. Conclusion - The recent signals from the Ministry of Natural Resources indicate a promising future for related companies, such as ShenKai Co., in the stock market. The combination of policy support and market demand is expected to drive the upgrade of instrument equipment, presenting a rare historical opportunity for domestic instruments [7].

Group 1 - The company, Chujiang New Materials, confirmed that its subsidiary, Tian Niao High-tech, produces carbon fiber prepregs that are widely used in the structures of next-generation aerospace vehicles such as rockets and satellites [2] - Another subsidiary, Xinhai High Conductivity, manufactures high-end shaped copper conductors designed for high-pressure transmission scenarios, including subsea cables and offshore wind power [2]

Core Viewpoint - The company, Chujiang New Materials, is actively engaging in the emerging deep earth economy by supplying high-purity carbon powder for various advanced applications, indicating a strategic focus on high-tech materials and potential collaborations in underground industries [1]. Group 1: Company Products and Applications - Chujiang New Materials' subsidiary, Dingli Technology, is focused on the technology and product layout of "four high, two coatings, and one equipment" [1]. - The company has achieved small-scale sales of its high-purity carbon powder, which boasts a purity of 99.9999% [1]. - The primary applications of this high-purity carbon powder include lithium-ion anode materials, SiC single crystals, synthetic diamonds, moissanite, and nuclear graphite [1].

Group 1 - The company, Meichang Co., Ltd. (300861.SZ), stated on its interactive platform that its business does not involve deep earth economy [1]

Group 1 - Shandong Molong (002490) experienced a significant decline, with A-shares hitting the limit down and H-shares dropping by 14.51% to 4.3 HKD, with a trading volume of 703 million HKD [1] - The company announced that it has not discovered any undisclosed significant information that could impact its stock trading price, and there have been no major changes in its production and operational environment [1] - The deep earth economy has recently become a market focus, with Shandong Molong's main products including oil drilling machinery, leading to a notable increase in stock performance with five consecutive trading limit ups [1] Group 2 - The Ministry of Natural Resources indicated that during the 14th Five-Year Plan period, efforts will be made to seize the standardization high ground in emerging and future industries such as deep sea and deep earth [1] - The global deep earth economy is projected to exceed 25 trillion USD by 2030, while the domestic market for deep earth-related industries is expected to surpass 5 trillion CNY between 2026 and 2030, with an initial commercialization growth rate of 40% [1]

Company Overview - Shandong Molong (00568) experienced a significant decline in both A-shares and H-shares, with A-shares hitting the daily limit down and H-shares dropping by 14.51% to HKD 4.3, with a trading volume of HKD 703 million [1] Market Context - The company has not identified any undisclosed significant information that could impact its stock trading price, and there have been no major changes in its production and operational environment recently [1] - The deep earth economy has recently become a market focus, with Shandong Molong's main products including oil drilling machinery recording five consecutive trading limit increases [1] Industry Outlook - The Ministry of Natural Resources has indicated that during the 14th Five-Year Plan period, efforts will be made to seize the standardization high ground in emerging and future industries such as deep sea and deep earth [1] - The global deep earth economy is projected to exceed USD 25 trillion by 2030, while the domestic market for deep earth-related industries is expected to surpass RMB 5 trillion between 2026 and 2030, with an initial commercialization growth rate of 40% [1]

Core Viewpoint - The recent market dynamics show a trend where funds are gravitating towards either large-cap stocks or low-priced stocks, indicating a polarized investment strategy in the stock market [2][3][11]. Group 1: Large-Cap Stocks - Agricultural Bank of China has demonstrated significant performance, achieving 14 consecutive days of gains and a market capitalization of approximately 2.9 trillion yuan, with a 25% increase over the past month [2][3]. - In the top ten stocks by capital inflow over the past 30 days, eight are bank stocks, highlighting a strong preference for financial sector investments [3]. Group 2: Small-Cap Stocks - Smaller stocks, such as Dayou Energy, have shown remarkable activity, achieving an eight-day consecutive rise, with a market capitalization of around 23 billion yuan [5]. - The small-cap stocks are particularly favored by speculative investors, as they often have lower market capitalizations, making them more volatile and attractive for quick gains [5][8]. Group 3: Sector Trends - The deep earth economy concept has gained traction following the release of a national strategy, leading to a surge in related stocks, although these stocks typically have smaller market capitalizations [7][8]. - Recent developments in Hubei province regarding the securitization of state-owned assets have also led to increased activity in related stocks, indicating a potential trend in state asset management reforms [9][10]. Group 4: Market Sentiment and Future Outlook - Analysts suggest that the current market is in the early stages of a bull market, driven by valuation recovery, with expectations of a shift towards improved fundamentals and earnings in the future [12][13]. - The market is anticipated to experience style rotation, with value stocks beginning to outperform growth stocks, reflecting historical patterns observed in previous bull markets [14][15].

Company Developments - Anshi China refuted false statements from the current management of its Dutch headquarters, asserting that all products produced and delivered in China meet contractual agreements [6] - Yushutech has completed its name change, with founder Wang Xingxing transitioning from executive director to chairman, and the company’s third humanoid robot, R1, is ready for mass production, expected to ship by the end of this year or early next year [6] - JD Auto, in collaboration with CATL and GAC Group, announced the name of its new model "Aion UT super," featuring a range of 500 kilometers and a wheelbase of 2750mm, marking it as the first vehicle equipped with "GAC Huawei Cloud Car Machine" [6] - Juhua Co. reported third-quarter revenue of 7.062 billion yuan, a year-on-year increase of 21.22%, and a net profit of 1.197 billion yuan, up 186.55%. For the first three quarters, revenue reached 20.394 billion yuan, a 13.89% increase, with net profit rising 160.22% to 3.248 billion yuan, driven by rising refrigerant prices [6] - Huagong Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange, with specific details yet to be finalized [6] - Shengyi Electronics expects a net profit of 1.074 billion to 1.154 billion yuan for the first three quarters, representing a year-on-year increase of 476% to 519% [6] - Yinglian Co. reported first three quarters revenue of 1.648 billion yuan, a 10.68% increase, with net profit reaching 35.378 million yuan, up 1572.67% [6] Market Trends - The A-share market showed weakness in early trading but rallied towards the end, with all three major indices closing higher. The Shanghai Composite Index rose by 0.22% to 3922.41 points, with a total trading volume of 1.66 trillion yuan [4] - The banking wealth management market reached a total scale of 32.13 trillion yuan by the end of the third quarter, a year-on-year increase of 9.42%, with fixed-income products accounting for 31.21 trillion yuan [4] - Several foreign investment institutions, including Goldman Sachs, JPMorgan, and UBS, expressed optimism about the Chinese capital market, predicting a sustained upward trend in the stock market due to improving corporate profitability and market revaluation [4]