On May 22, the three major A-share indices rose collectively. The Shanghai Index rose 0.02% to 3158 points, the Shenzhen Stock Exchange Index rose 0.12%, and the GEM Index rose 0.88%. More than 3,100 individual stocks rose in the entire market, with a turnover of 831.2 billion dollars in the Shanghai and Shenzhen markets, an increase of 31.9 billion dollars over the previous trading day.

On the market, the photovoltaic sector exploded across the board, leading in the direction of HIT batteries, perovskite batteries, and BC batteries; the real estate sector rose and stopped; the AI PC sector rebounded, and Yingli shares rose and stopped by 20cm; and sectors such as energy efficiency in buildings, glass substrates, and high-speed copper cable connections registered the highest gains. In addition, the pet economy sector declined, with Gaibao Pet falling by nearly 8%; the tourist hotel sector declined, with Changbai Mountain falling by more than 5%; the fertilizer sector weakened, and the Tibetan mining industry fell by more than 5%; and oil and gas mining, titanium dioxide, precious metals, and civilian explosion concepts had the highest declines.

Let's take a look specifically:

The photovoltaic concept has come to a standstill, with BC batteries, POE film, etc. showing the highest gains. Tongxiang Technology rose more than 21%, Tianhe Solar and China Lai shares rose more than 17%, and many stocks such as Junda Co., Ltd., Jingao Technology, and Aixu Co., Ltd. rose and stopped. Recently, under the guidance of the Electronic Information Department of the Ministry of Industry and Information Technology, the China Photovoltaic Industry Association organized a “Symposium on High Quality Development of the Photovoltaic Industry” in Beijing. The conference pointed out that the crackdown on vicious competition in below-cost sales should be strengthened; industry mergers and restructuring should be encouraged, and market exit mechanisms should be unblocked.

The real estate-related sector continues to strengthen. I love my family and Chongqing development stopped. World Bank, Greenland Holdings, and Goldland Group rose more than 6%, while special development services, urban construction development, and Shanghai Real Estate development followed suit. According to the news, the Ministry of Housing and Construction recently issued a notice requesting local housing provident fund management centers to do a good job in lowering interest rates on housing provident fund personal housing loans. A bank in Wuhan has confirmed that it will begin implementing a 15% down payment for the first set and 25% for the second set; at the same time, the interest rate for the first home loan was reduced from 3.55% to 3.25%.

The AI PC sector rebounded, with Yingli shares rising and falling 20cm, Thor Technology up more than 9%, Siquan New Materials up more than 4%, and Pengding Holdings, Tongfu Microelectronics, Softcom Power, and Oshcon. According to the news, Microsoft released a new generation AI PC (artificial intelligence computer) Windows 11 AI PC, equipped with the latest Copilot features. Starting at $999, the product will be available for pre-order starting Monday and will be available in June.

The copper high-speed connection sector generally rose. Shenglan shares rose more than 19%, Chuangyitong rose more than 9%, Zhaolong Internet and Dingtong Technology rose more than 7%, and Huafeng Technology and Shenyu shares rose more than 4%. CICC pointed out that the rapid iteration of AI models is continuing to drive the expansion of demand for underlying computing power infrastructure. From an industry perspective, the GB200NVL72 cabinet released by GTC2024 Nvidia continues to increase demand for copper cable connections, driving the overall market size expansion of the industry.

The consumer electronics sector showed active performance. Yidong Electronics and Yingli shares rose and stopped 20cm, while Shenglan shares, Xinya Electronics, and Tony Electronics followed suit.

The education sector rose, with Quantong Education up 8.47%, Smart Education up 5.64%, and Kevin Education, China Hi-Tech, and Guoxin Culture up more than 2%. Microsoft and the educational guidance agency Khan Academy have reached a partnership to provide free generative artificial intelligence (AI) assistants to all teachers in the US. It can help teachers create courses, analyze student performance, plan assignments, and provide teachers with opportunities to improve their own learning ability and teaching efficiency.

The tourist tourism sector fluctuated and adjusted. Changbai Mountain fell 5.48%, Nanjing Business Travel and Mount Emei A fell more than 4%, and Dalian Shengya, Xiangyuan Cultural Tourism, Zhangjiajie, and Tibet tourism fell more than 2%.

The hotel and restaurant sector followed the decline. Junting Hotel fell 4.78%, Xi'an Tourism fell 2.79%, and Huatian Hotel and Tongqing Tower fell more than 1%.

The oil and gas extraction sector generally declined, with quasi-oil shares falling 3.11%, Zhongman Petroleum, Becken Energy, CNOOC Development, and Tongyuan Petroleum falling more than 2%, while CNOOC Engineering, CNOOC Services, and Potential Energy Hengxin also fell.

The automotive sector declined, with Zhongtong Bus falling 6.23%, Yutong Bus falling 5.8%, Jinlong falling 4.78%, and Sinotruk, CIMC, Cyrus, BYD, and Jiangling.

Looking ahead to the future market, CICC pointed out that judging from the main types of A-share investors, the current private equity investor positions are still at a historically low level. Although foreign capital has recently returned, it is still under-allocated to Chinese assets, and it may still have potential financial support for the market. In terms of allocation, the real estate chain has benefited from recent eventual catalysis and phased performance. The related industrial chain is generally expected to be repaired at a low and promising stage, but it continues to rely on the strength and pace of policy implementation. The TMT sector, which is driven by expectations of technological progress and catalyzed by policies related to new quality productivity, is still expected to perform relatively well in the medium term; green sectors such as new energy focus on recent marginal changes in industrial policy, which will help reverse investors' expectations.