Guide: ① Real estate stocks staged a “roller coaster” market yesterday. Short-term fluctuations may intensify or continue in the context of entering a clear capital game; ② The photovoltaic industry chain ushered in a long-overrun rebound with favorable policies, but its continuity still needs to be further observed; ③ Nvidia released results last night, and its revenue, profit, and guidance for the first quarter all exceeded expectations. Therefore, under overseas projections, today's AI industry chain may be expected to receive a return of capital

Yesterday, the market continued its trend of fragmentation and consolidation. Among them, the GEM index was biased. On the market, photovoltaic concept stocks exploded in the afternoon, while the real estate sector declined somewhat after rising in early trading. Furthermore, the direction of new technology such as glass substrates remained strong, and the overall trend of differentiation continued.

First of all, we are still focusing on the real estate sector. Yesterday, the overall trend showed a sharp upward and downward trend. More than 10 stocks, including Jindi Group, rose and stopped during the early trading phase, but as short-term sentiment reached a climax, and sales pressure concentrated on cashing in, real estate stocks exploded in the afternoon. It shows that after experiencing repeated speculation recently, real estate stocks have now reached the stage of a relatively clear capital game. The most obvious characteristic is that short-term fluctuations have intensified, so it is expected that segmentation within the sector will increase further in the future, eliminating the weak and remaining strong at that time.

Furthermore, looking at yesterday, capital gradually began to expand in the direction related to the real estate chain, such as real estate chain chemicals (building materials), including MDI (the main raw material for wall insulation materials in building structures), titanium dioxide (paint, adhesives), etc. Compared to real estate development and services, which are already at a lower level, there may still be opportunities to make up for growth in the direction of expansion in the real estate chain.

The overall rise in the photovoltaic sector was obvious yesterday. Among them, the main chain was dominated by leading targets in various links (especially those with fewer chips and more elastic targets), and the auxiliary chain was mainly the target of adhesive film (two- and third-line elastic targets) that were previously suppressed by the price of the main chain, heat fields, and HJT&0BB related auxiliary materials that have benefited from the recent rise in silver prices. The main reason is the symposium on high-quality photovoltaic development held by the industry association (under the guidance of the Ministry of Industry and Information Technology) yesterday, as well as rumors of some subsequent policies in the market; currently, the industry chain is at the bottom of the clean-up policy stage, if at the bottom of the market. It can be expected that guidance will be given, and the clean-up will accelerate.

However, yesterday's rise was more about recovering from the overrun decline due to favorable news. Whether we can break out of continuity, on the one hand, we can focus on whether the front row of the sector can emerge to open a high core of the sector to attract active capital into the market. On the other hand, whether large weights such as Longji Green Energy, Tongwei Shares, and Jingao Technology can follow the trend and start a round of market trends after continuous volume at the bottom is also one of the key points for subsequent market reviews.

Finally, let's focus on the direction of technology. Last night, Nvidia announced its results. Revenue, profit, and guidance for the first quarter all exceeded expectations. After the market, the company's stock price broke through the 1,000 US dollar mark, and the market value surged by more than 160 billion US dollars. In addition, stock splits and dividend increases were announced. Blackwell architecture chips will be shipped in the second quarter, which is expected to bring in a large amount of revenue. As the performance of overseas giants continues to rise, it may positively catalyze the AI industry chain. It is expected that today's CPO, high-speed copper cable connectors, and glass substrates are all expected to rebound in the market.