| | 生 仅日文 12.18 一个双日文 截至收盘斩获连板个股 | | | --- | --- | --- | | 股票名称 | 连板天数 | 所属概念 | | *ST铖昌 | 7 | 商业航天 | | *ST宁科 | 6 | 合成生物 | | 百大集团 | 6 | 零售 | | 胜通能源 | 5 | 天然气 | | 皮阿诺 | 4 | 家居 | | 博菲电气 | 3 | 光伏概念 | | 浙江世宇 | 3 | 智能驾驶 | | 利群股份 | 3 | 零售 | | 美年健康 | 2 | 医疗 | | 中天服务 | 2 | 物业管理 | | ST未名 | 2 | 创新药 | | 鹭燕医药 | 2 | 医药电商 | | 钧达股份 | 2 | 光伏概念 | | 庄园牧场 | 2 | 乳业 | | 嘉美包装 | 2 | 包装 | | 南京商旅 | 2 | 旅游商贸 | | 长飞光纤 | 2 | СРО | | --- | --- | --- | | *ST亚振 | 2 | 家居 | | 苏利股份 | 2 | 农化制品 | | 盛洋科技 | 2 | 商业航天 | | 立达信 | 2 | LED照明 | | | 第四则 ...

Core Viewpoint - The article emphasizes the importance of technological innovation as a foundation for China's modernization and high-quality development, highlighting significant achievements during the "14th Five-Year Plan" period [1]. Group 1: Technological Breakthroughs - Breakthroughs in "bottleneck" technologies have enhanced national confidence and resilience, showcasing a collective spirit of perseverance and determination [2][4]. - The "Zuchongzhi No. 3" supercomputer is reported to be 15 orders of magnitude faster than the current fastest supercomputer, marking a significant advancement in computing power [2]. - The development of domestic operating systems and high-end bearings has strengthened key industries such as digital economy and aerospace [3]. Group 2: Strategic Autonomy - Addressing "bottleneck" issues has allowed China to gain strategic autonomy in development, reducing reliance on foreign technologies [3][4]. - The domestic lithium battery industry has seen a resurgence due to breakthroughs in manufacturing techniques, enabling a shift from dependence to self-sufficiency [3]. - The successful development of laser radar technology lays a foundation for intelligent driving, further enhancing China's technological capabilities [3]. Group 3: Systematic Innovation Efforts - A coordinated effort from top to bottom is necessary to tackle key technological challenges, emphasizing the importance of a national strategic approach [4]. - Reforms in the technology system, including the removal of barriers and the promotion of innovation, are crucial for unleashing the potential of technological advancements [4]. - The resilience of China's industrial and supply chains is highlighted by the ability to adapt and thrive despite external pressures, as seen in the case of Zhejiang Yiwu's export growth [4]. Group 4: Global Innovation Standing - According to the World Intellectual Property Organization, China has entered the top ten of the Global Innovation Index for the first time, reflecting its growing influence in global development and civilization [6].

Core Viewpoint - The essence of the current bull market in A-shares is identified as a "technology bull," which is crucial for investors to understand in order to navigate the market effectively [1][5][8]. Market Performance - Since the beginning of 2025, particularly after April 8, A-shares have experienced a rare bull market, characterized by significant performance differences among various indices [1][5]. - From early 2025 to September 22, the Shanghai Composite Index and the CSI 300 Index both saw a cumulative increase of approximately 15%, while the Sci-Tech Innovation 50 Index surged by 42%, and the ChiNext Index rose by 47% [5][6]. Investment Focus - Investors are advised to focus on technology stocks, as they have significantly outperformed traditional cyclical stocks and large-cap blue chips [6][9]. - The performance gap is evident, with the Sci-Tech Innovation 50 Index outperforming the Shanghai Composite Index by 27 percentage points and the ChiNext Index leading the CSI 300 by 32 percentage points [5]. Valuation Insights - As of September 19, the TTM price-to-earnings ratio of the Shanghai Composite Index was at the 95th percentile of the last ten years, indicating it is close to its historical high, while the CSI 300 Index was at the 82nd percentile, suggesting it is also in a relatively expensive range [7]. - In contrast, the ChiNext Index's valuation was at the 50th percentile, indicating that despite its significant rise, it remains at a moderate level compared to historical data, suggesting it is not yet in a bubble [7]. Future Catalysts - The technology sector is expected to benefit from numerous favorable events in the near future, including advancements in robotics, AI hardware, semiconductors, low-altitude economy, quantum technology, and smart driving [7]. - These upcoming developments are anticipated to provide ongoing momentum for the technology sector, reinforcing its leading position in the current bull market [8].