Market Performance - In the first three quarters of 2025, the A-share market showed strong performance, with major indices rising over 10%, and both the ChiNext Index and the Sci-Tech 50 Index leading with a cumulative increase of 51.2% [1][3] - The North Exchange 50 Index increased by 47.29%, while the Shenzhen Component Index, CSI 1000, and Wind All A Index all saw gains exceeding 20% [3] Industry Performance - Among the 35 industries classified by Wind, 31 recorded gains in the first three quarters, with the non-ferrous metals industry leading at a cumulative increase of 65.52% [5] - The hardware equipment and semiconductor industries also performed well, with increases of 56.97% and 54.74%, respectively [5] - The daily consumer retail sector lagged, with a cumulative decline of 6.27%, while coal and telecommunications services fell by 4.47% and 2.77% [5] Concept Performance - Key concepts such as artificial intelligence, rare earths, and robotics were notably active, with the optical module (CPO) index showing the strongest performance, rising by 116.20% [10] - Other significant indices included the copper-clad board, AI+ index, optical chip, and optical communication indices, with cumulative increases of 114.60%, 98.89%, 96.36%, and 91.82%, respectively [10] Market Capitalization - As of the end of Q3 2025, the total market capitalization of the A-share market was approximately 115.86 trillion yuan, reflecting a 23.3% increase from the end of 2024 [16] - The Shanghai main board had the highest number of listed companies at 1,695, accounting for 31.18% of the total [13] Trading Volume - The total trading volume in the A-share market for Q3 was 137.6 trillion yuan, representing a quarter-on-quarter increase of 81.77% and a year-on-year increase of 217.05% [20] Margin Financing - By the end of Q3, the margin financing balance in the A-share market was reported at 24,288 billion yuan, up 32.0% from the end of Q2 and up 74.2% year-on-year [24] IPO Activity - In the first three quarters of 2025, the A-share market saw a total of 76 IPOs, an increase of 7 from the previous year, with Q3 alone accounting for 28 IPOs [51] - The total fundraising from IPOs in the first three quarters reached 759.7 billion yuan, a 66.6% increase year-on-year [54]