Market Overview - A-shares experienced a decline on July 31, with over 4200 stocks in the red and a total trading volume of 1.9 trillion, an increase of 917.6 billion from the previous day [1] - The Shanghai Composite Index fell by 1.18%, the Shenzhen Component Index by 1.73%, and the ChiNext Index by 1.66% [1] - Analysts attribute the market weakness to three main factors: uncertainty from the Federal Reserve's meeting affecting global risk assets, policy expectations combined with technical market corrections, and rising funding rates leading to bond market adjustments that suppress stock market risk appetite [1] Sector Performance AI Hardware Stocks - AI hardware stocks saw a collective rise, with Zhongji Xuchuang reaching a historical high, and companies like Lian Te Technology and Tianfu Communication also gaining [4] - Meta's second-quarter revenue was reported at $47.52 billion, a 22% year-on-year increase, exceeding expectations, which positively impacted the stock market [4] Liquid Cooling Server Sector - The liquid cooling server sector experienced a surge, with Yingwei Ke achieving two consecutive trading limits and Binglun Environment hitting the upper limit [5] - A report indicated that the value of the Socket solution is expected to increase from 600,000 to over 700,000, with significant changes in the usage of cold plates and quick connectors [5] Assisted Reproductive Technology - The assisted reproductive technology sector continued its strong performance, with Yangguang Dairy and Anzheng Fashion achieving three consecutive trading limits, and companies like Gongtong Pharmaceutical and Hanshang Group hitting the upper limit [3] - A government policy was released to enhance reproductive support, including adjustments to medical insurance coverage for relevant services [3] Innovative Drug Sector - Innovative drug stocks remained active, with Nanjing New Pharmaceutical, Qizheng Tibetan Medicine, and Anke Biological hitting the upper limit, while Haitai Biological also saw gains [6] - A significant licensing agreement was announced between Shiyao Group and Madrigal Pharmaceuticals, with a total transaction value potentially reaching $2.075 billion [7] Institutional Insights - Guotai Junan Securities highlighted that the current market is close to previous highs, but there are still "low-position assets" worth exploring, as the overall valuation expansion is not overly aggressive compared to fundamental recovery [8] - Dongfang Securities noted that the market is in a sustained upward trend with ample trading volume, attracting new capital, and there is no immediate risk of a market reversal [9]

Market Overview - The A-share market experienced a decline with the Shanghai Composite Index falling by 1.18%, the Shenzhen Component Index down by 1.73%, and the ChiNext Index decreasing by 1.66% [1][2] - The total trading volume in the Shanghai and Shenzhen markets reached 1.94 trillion yuan, an increase of 91.7 billion yuan compared to the previous trading day, with over 4,200 stocks declining [1][2] Sector Performance - Sectors such as steel, energy metals, coal mining and processing, photovoltaic equipment, and film and television cinema saw declines, while the liquid cooling server sector showed strong performance [4] - The innovative drug concept continued to perform well, with several stocks including Nanxin Pharmaceutical, Anke Bio, and Aoxiang Pharmaceutical hitting the daily limit [4] - The liquid cooling server concept had multiple stocks, including Yingweike and Icewheel Environment, reaching the daily limit [4][5] Capital Flow - Major funds saw net inflows in sectors like banking, computers, and traditional Chinese medicine, while there were net outflows in mining, paper printing, and electronic components [6] - Specific stocks such as 360, Yidian Tianxia, and Yongyou Network received net inflows of 1.133 billion yuan, 889 million yuan, and 881 million yuan respectively [6] - Conversely, Baogang Group, Dongfang Fortune, and CATL faced net outflows of 1.868 billion yuan, 1.697 billion yuan, and 1.663 billion yuan respectively [6] Institutional Insights - Galaxy Securities suggests not to make bullish moves while the Shanghai Composite Index is below the 5-day moving average, indicating a high probability of filling the gap [6] - Everbright Securities notes that market sentiment remains active, with fluctuations being a normal adjustment within the trend [7] - CITIC Securities maintains that the index is expected to continue its upward trend despite short-term fluctuations [7]

盘面上，智谱AI板块震荡走强，易点天下20CM涨停。液冷服务器板块全线走强，思泉新材20CM涨停，英维克、淳中科技 等涨停封板。辅助生殖板块持续走强，共同药业、安科生物20CM涨停，汉商集团涨停封板。钢铁板块调整，包钢股份跌超 8%。煤炭板块全线走低，板块内全线飘绿，安泰集团跌超7%。 板块题材上，智谱AI、液冷服务器、辅助生殖板块走高，钢铁、煤炭、保险板块调整。 A股三大指数集体收跌，截至收盘，沪指跌1.18%，深成指跌1.73%，创业板指跌1.66%，北证50指数跌1.16%，沪深京三市 成交额19618亿元，较上日放量909亿元。两市超4200只个股下跌。 ...

Market Overview - The A-share market experienced a volatile adjustment, with all three major indices declining over 1% on the last trading day of July [1] - The overall market trend for the month showed a fluctuating upward movement, with all three major indices closing higher for the month, particularly the ChiNext Index which rose over 8% [1] - The Shanghai Composite Index lost the 3600-point level, which it had regained earlier in the month [1] Trading Volume and Market Activity - The total trading volume for the Shanghai and Shenzhen markets reached 1.94 trillion yuan, an increase of 917 billion yuan compared to the previous trading day [4] - The market saw a significant number of stocks declining, with over 4200 stocks experiencing a drop [1] Sector Performance - The innovative drug concept sector showed strength, with stocks like Nanxin Pharmaceutical hitting the daily limit [1] - AI application stocks remained active against the market trend, with companies like Yidian Tianxia also hitting the daily limit [1] - AI hardware stocks exhibited mixed performance, with the liquid cooling server concept performing strongly, leading to stocks like Yingweike hitting the daily limit [1] - Conversely, cyclical sectors such as steel and non-ferrous metals weakened, with Anyang Steel dropping over 7% [1] - The financial sector was sluggish, with Zhongyin Securities declining over 5% [1] Closing Statistics - At the close, the Shanghai Composite Index fell by 1.18%, the Shenzhen Component Index decreased by 1.73%, and the ChiNext Index dropped by 1.66% [1]

Market Performance - On July 31, the three major indices showed mixed performance, with the Shanghai Composite Index down 0.68%, Shenzhen Component Index down 0.45%, and the ChiNext Index up 0.43% [1] - The market saw a total trading volume exceeding 1.1 trillion yuan, with over 3,400 stocks declining [1] Sector Highlights - The assisted reproductive concept surged, with companies like Gongtong Pharmaceutical and Lide Man hitting the daily limit [1] - The pharmaceutical sector strengthened, with stocks such as Aoxiang Pharmaceutical and Kangyuan Pharmaceutical also reaching the daily limit [1] - The liquid cooling server concept performed well, with the Wind Liquid Cooling Server Index rising by 3.7% [1] - Cyclical stocks, including coal, steel, oil, and non-ferrous metals, experienced declines, along with sectors like aquaculture, real estate, electricity, and insurance [1] Liquid Cooling Technology - The liquid cooling server concept gained traction as data centers face increasing energy consumption challenges [1] - Companies are adopting liquid cooling technology to enhance efficiency and reduce heat dissipation energy consumption [1] - Invek, a leader in precision temperature control, launched China's first self-developed outdoor cabinet air conditioning for communication, and introduced a modular indirect evaporative cooling solution for data centers [2] CPO Concept Stocks - On July 31, the Wind Optical Module (CPO) Index rose over 4.7%, with stocks like Cambridge Technology hitting the daily limit [2] - Goldman Sachs projected that the sales of 800G optical modules will reach 19.9 million and 33.5 million units in 2025 and 2026, respectively, with market values expected to be $12.73 billion and $19.37 billion [2] AI Sector Growth - AI application stocks surged, with companies like Yidian Tianxia and Zhidema hitting the daily limit [3] - The total number of registered users for large model applications exceeded 3.1 billion, with API call users exceeding 159 million [3] - Huatai Securities identified four key trends in the AI large model industry chain, including a shift towards token-driven growth and increasing server computing power demand [3]

Core Viewpoint - The ChiNext Index rose over 1% on July 31, indicating positive market sentiment in the growth sector [1] Market Performance - As of 9:44 AM, the Shanghai Composite Index decreased by 0.42%, while the Shenzhen Component Index increased by 0.13% and the ChiNext Index increased by 1.02% [1] Sector Performance - Key sectors that showed significant gains included liquid cooling servers, optical communication modules, PCB (printed circuit boards), and storage chips [1]

人民财讯7月31日电，7月31日早盘，三大指数表现分化，截至午间收盘，沪指跌0.68%，深证成指跌 0.45%，创业板指涨0.43%。盘面上看，辅助生殖概念大涨，共同药业、利德曼等涨停；医药板块走 强，奥翔药业、康缘药业等多只个股涨停；液冷服务器概念走强，英维克二连板；创新药概念、CPO概 念、软件服务板块等涨幅居前；周期股走弱，煤炭、钢铁、石油、有色等板块跌幅居前，水产品概念、 房地产、电力、保险等也走弱。全市场半日成交金额逾1.1万亿元，超3400只个股下跌。 转自：证券时报 MACD金叉信号形成，这些股涨势不错！ ...

盘面上，辅助生殖概念涨幅居前，共同药业、利德曼20cm涨停，我国31省将辅助生殖技术纳入医保； 液冷服务器概念全线走强，思泉新材20CM涨停，英维克、淳中科技等涨停封板；CPO概念股大涨，汇 绿生态、剑桥科技涨停，中际旭创、新易盛均创历史新高；创新药板块再度活跃，奥翔药业、康缘药业 等涨停；AI智能体概念集体走强，易点天下、用友网络、南兴股份涨停，百度搜索首页测试开放智能 体应用入口。 另外，钢铁、煤炭、油气、有色金属等周期性板块全线下跌，安阳钢铁、包钢股份、安泰集团跌超 5%。(格隆汇) A股三大指数涨跌不一，截至午盘收盘，沪指跌0.68%报3591.26点，深成指跌0.45%，创业板指涨 0.43%，北证50指数涨0.12%。沪深京三市成交额11578亿元，较上日放量556亿元，两市超3400只个股 下跌。 ...

【导读】辅助生殖概念股迎利好，英维克开盘秒板 7月31日，A股三大指数开盘涨跌不一，上证指数小幅低开，深证成指、创业板指飘红。上午市场持续震荡，上证指数盘中跌超1%。截至发稿，三大指数 集体飘绿。 盘面上，上午顺周期板块明显回调，钢铁、贵金属、煤炭、房地产等集体走低，通信、计算机等板块走强，CPO、光通信、液冷服务器、英伟达产业链等 概念股活跃。 | | | Wind中国行业指数 | | | --- | --- | --- | --- | | 通信设备 1.98% | 电子元器件 1.87% | 互联网 1.24% | 电脑硬件 0.96% | | 软件 0.85% | 工业机械 0.56% | 汽车零部件 0.35% | 生物科技 0.37% | | 办公用品 0.33% | 制药 0.34% | 航空 -1.65% | 海运 -1.71% | | 化肥农药 -1.70% | 石油化工 -1.74% | 电力 -1.74% | 软饮料 -1.84% | | 房地产 -2.25% | 煤炭 -2.41% | 贵金属 -2.64% | 钢铁 -3.50% | 港股市场上午同步走低，截至发稿，恒生指数、恒生国企指 ...

Market Overview - On July 31, A-shares opened mixed, with the Shanghai Composite Index slightly lower and the Shenzhen Component and ChiNext indices in the green [2] - By midday, the Shanghai Composite Index had dropped over 1%, while all three major indices were collectively in the red [2][3] Sector Performance - The cyclical sectors such as steel, precious metals, coal, and real estate experienced significant declines, while sectors like communication and computer technology showed strength [4] - The communication equipment sector rose by 1.98%, and electronic components increased by 1.87% [5] Hong Kong Market - The Hong Kong market also saw declines, with the Hang Seng Index and the Hang Seng China Enterprises Index dropping over 1% [6][7] - Longfor Group led the decline among Hang Seng constituents, falling over 5% [6] CPO and Liquid Cooling Server Stocks - CPO concept stocks were notably active, with Cambridge Technology hitting the daily limit and Lian Te Technology rising over 10% [10] - Liquid cooling server stocks also performed well, with Siquan New Materials hitting the daily limit and Yingweike reaching a new historical high shortly after opening [12] Assisted Reproductive Technology Sector - The assisted reproductive sector saw strong performance, with stocks like Gongtong Pharmaceutical and Lide Man hitting the daily limit, and other stocks like Anke Bio and Guangsheng Tang experiencing significant gains [17] - A new policy from the Beijing government aims to enhance reproductive health services and include assisted reproductive technology in medical insurance coverage, which is expected to boost the sector [19] South Road Machinery - South Road Machinery opened high and reached the daily limit, achieving a remarkable performance of "9 days 8 boards," with its stock price doubling since the beginning of the current rally [21] - The company announced a cumulative increase of 91% in its stock price since July 18, indicating potential market overheating despite no significant changes in its fundamentals [21]