水皮杂谈 一家之言 兼听则明 偏听则暗 以下文章来源于秦朔朋友圈 ，作者黄凡 秦朔朋友圈 . 秦朔朋友圈是由中国著名媒体人、财经观察家秦朔牵头创立的一个新媒体与专业服务品牌，包括微信公 众号、微博、视频节目、音频节目等。内容聚焦于经济、金融和商业领域，关注重点为全球和中国财经 商业热点、企业家精神、创新与发明创造、商业文明探索等。 一年前，随着宏观政策的全面转向，我们的股市开始转势向上，逐步 成了 全球市场中的最亮 点。从 2024 年" 924 "行情以来，代表中国资产的主要指数，从创业板到科创板，从传统沪 深市场到新兴北交所，均处于全球遥遥领先地位。（如下图，东方财富网数据） 当前 A 股市场中，人工智能 AI 产业相关赛道是近期的最热点，其中"易中天"和"纪连海"这 两个由投资者创意组合的概念， 成了 科技股行情中备受瞩目的焦点。它们分别代表了 AI 算 力产业链上的不同环节，其强劲上涨反映了市场对人工智能产业的高度热情。 " 易 中 天 " 组 合 的 新 易 盛 、 中 际 旭 创 、 天 孚 通 信 涵 盖 光 模 块 与 通 信 设 备 （ AI 算 力 的 " 出 海 链"），直接受益于全球 ...

Core Viewpoint - The recent surge in A-share market, particularly in the "Yizhongtian" and "Jilianhai" concept stocks, is driven by the rapid development of the artificial intelligence (AI) industry, leading to a significant increase in demand for computing power [5][7]. Group 1: Stock Performance - "Yizhongtian" includes leading stocks such as Xinyi Sheng, Zhongji Xuchuang, and Tianfu Communication, while "Jilianhai" comprises Hanwujing, Industrial Fulian, and Haiguang Information [5]. - Notable stock performances include: - Xinyi Sheng: Revenue of 10.437 billion, net profit of 3.942 billion, with year-on-year growth of 282.64% and 355.68% respectively [6]. - Zhongji Xuchuang: Revenue of 14.789 billion, net profit of 3.995 billion, with year-on-year growth of 36.95% and 69.40% respectively [6]. - Tianfu Communication: Revenue of 2.456 billion, net profit of 0.899 billion, with year-on-year growth of 57.84% and 37.46% respectively [6]. - Hanwujing: Revenue of 2.881 billion, net profit of 1.038 billion, with year-on-year growth of 4347.82% and 295.82% respectively [6]. - Industrial Fulian: Revenue of 360.76 billion, net profit of 12.113 billion, with year-on-year growth of 35.58% and 38.61% respectively [6]. - Haiguang Information: Revenue of 5.464 billion, net profit of 1.201 billion, with year-on-year growth of 45.21% and 40.78% respectively [6]. Group 2: Fund Performance - Several funds have reported impressive returns, including: - Zhonghang Opportunity Leading Mixed Fund A: 1-year return of 220.35% [3]. - Xin'ao Performance Driven Mixed Fund A: 1-year return of 221.96% [3]. - Dongwu New Economy Mixed Fund A: 1-year return of 119.02% [3]. - Dongcai Digital Economy C: 1-year return of 113.67% [3]. - Caitong Integrated Circuit Industry Stock A: 1-year return of 150.51% [3]. - Huabao Large Cap Selected Mixed Fund: 1-year return of 124.16% [3]. Group 3: Market Trends and Insights - The strong performance of computing power stocks aligns with institutional investment preferences, leading to increased "hugging" behavior among investors [8]. - The current trading concentration in the electronic and communication sectors has reached 25.6%, the highest level since 2023 [8]. - Despite the positive trends, historical patterns suggest that extreme "hugging" can lead to risks, as expectations may not always be met, potentially resulting in rapid sell-offs [8].