A-share midday review: Shenzhen Component Index down over 1% in the morning; computing power rental sector rises against the trend

(Source: Sci-Tech Innovation 100 ETF Fund)

The three major A-share indices all declined in the morning session. By midday, the Shanghai Composite Index fell 0.95%, the Shenzhen Component Index dropped 1.11%, the ChiNext Index decreased 0.11%, and the Beijing Securities 50 Index declined 2.21%. The combined half-day trading volume of the Shanghai, Shenzhen, and Beijing markets was 13,148 billion yuan, an increase of 653 billion yuan compared to the previous day. A total of 4,700 stocks in the market declined.

In terms of sectors and themes, the gas, oil and gas exploration and services, electricity, coal mining and processing, and computing power leasing sectors led gains; energy metals, precious metals, minor metals, chemical fibers, phosphate chemicals, steel, cultivated diamonds, PET copper foil, paper-making, and PEEK materials concepts saw the largest declines.

Market overview: The ongoing Middle East situation continues to impact global capital markets. U.S. energy facilities in three Gulf countries were retaliated against by Iran, causing oil and gas stocks to rise early in the session, with stocks like Tongyuan Petroleum (300164) and China National Offshore Oil Corporation (600938) gaining. Cloud service providers like Alibaba and Baidu announced collective price hikes, and the computing power leasing sector remained active. Copper Bull Information (300895) hit the 20% daily limit-up, and Hongjing Technology (301396) surged over 15%, hitting a new high. The green power sector also benefited from the AI wave, with stocks like Huadian Liaoning (600396) and Guangdong Power A hitting the daily limit-up. On the other hand, soaring oil prices raised concerns about stagflation, leading to a collective decline in precious metals and non-ferrous metals sectors, with stocks like Shanjin International (000975), Industrial Bank Silver & Tin (000426), and Luoyang Molybdenum (603993) falling. The fertilizer and phosphate chemical sectors also underperformed, with stocks such as Oriental Tower (002545), Chuanjin Nuo (300505), and Xingfa Group (600141) mostly retreating.

Top Gainers on the Limit-Up Ladder:

• 【4 consecutive limit-ups】 Shenhwa Development A, Huadian Liaoning.

• 【2 consecutive limit-ups】 Guangdong Power A, Shao Neng Co., Ltd. (000601), Meili Yun (000815), Jiuan Medical (002432), Aoruid (600666), Dashengda (603687).

Main capital inflow sectors:

• NO.1 【CPO (Coating Photonics Optical)】 net capital inflow of 3.186 billion yuan, with 42 stocks in the sector rising.

• NO.2 【F5G Concept】 net capital inflow of 1.641 billion yuan, with 15 stocks rising.

• NO.3 【Computing Power Leasing】 net capital inflow of 1.632 billion yuan, with 7 stocks hitting the limit-up and 58 stocks rising.

Hotspot overview:

What’s hot in today’s market:

【Oil and Gas Exploration and Services】

Related stocks: Tongyuan Petroleum, China National Offshore Oil, Zhongman Petroleum (603619)

Qatar’s Ras Laffan Industrial City was attacked by Iranian missiles. This base is the world’s largest liquefied natural gas (LNG) export facility, accounting for about one-fifth of global supply. The attack caused LNG plant production to halt and marked a further escalation of regional conflict.

【Electric Power】

Related stocks: Jiwei New Energy (300317), Huadian Liaoning, Guangdong Power A

The rapid expansion of AI computing power demand is a core driver of electricity consumption growth. Market expectations are that AI data center construction will enter a period of rapid growth, significantly increasing electricity demand. GF Securities stated that the integration of computing and electricity has been included in the government work report for the first time, emphasizing the reassessment of green power operators’ value. CICC noted that the export of tokens drives the expansion of computing power scale, further boosting electricity demand.

【Computing Power Leasing】

Related stocks: Copper Bull Information, Hongjing Technology, Guiguang Network (600996)

With the popularization of AI applications and the explosive growth of OpenClaw, the computing power service market is entering a price increase cycle. Major cloud service providers like Alibaba Cloud, Tencent Cloud, and Baidu Cloud announced price hikes for AI computing power and related services. Guojin Securities’ research report predicts that 2026 will be a key year for China’s shift from “cloud training” to a dual-driven model of “training + inference,” with the computing gap rapidly expanding under the catalysis of more modalities and broader scenarios. The explosion of C-end traffic, AI dramas, programming, and other native scenarios, combined with the accumulation of B-end niche models, will jointly drive a significant increase in real-time inference computing power consumption.