A-share opening express | Three major indexes all rise, strong lithography concept leading the way.

On September 18, the A-shares opened with mixed gains and losses, and then the three major indices all rose. As of the time of writing, the Shanghai Composite Index rose by 0.35%, the Shenzhen Component Index rose by 0.07%, and the Growth Enterprise Index rose by 0.07%. In terms of the market, the photolithography concept stocks were active at the beginning of the day, with Sanhe Tongfei Refrigeration rising by the limit, Ferrotec rising by over 12%, and the Ministry of Industry and Information Technology issuing guidelines for the promotion of major technical equipment, with domestic DUV photolithography machines included. The HarmonyOS concept stocks continued to be active, with CHINA BEST Network Security rising by the limit. International gold prices hit a new high, gold stocks opened high, with Pengxin International Mining rising by nearly 6% and Zijin Mining Group rising by over 2%. The shipbuilding concept stocks started off low, with KSEC Intelligent Technology falling by over 7%. Insurance stocks generally fell, with Hubei Biocause Pharmaceutical hitting the limit down. In terms of main funds, funds favored industries such as IT services, passenger cars, and banks, while funds flowed out of industries like power grid equipment and consumer electronics. Institutional views Looking ahead, Chen Guo of China Securities Co., Ltd. pointed out in a research report that China's policies are entering a crucial observation period, and the short-term sentiment in the A-share market is extremely low. Strong stocks are filling gaps, displaying characteristics of a market bottom. Huaxi: The current position should not be overly pessimistic The PE ratio (TTM) of the Shanghai and Shenzhen 300 has now fallen below 11 times, close to the low point in February, and more than half of listed companies have valuations lower than the low point in February of this year. The current positioning should not be overly pessimistic. Looking ahead, incremental macroeconomic policies are an important driver for the valuation recovery of A-shares. We believe that measures such as reserve ratio cuts, interest rate cuts, reductions in existing housing loan rates, and accelerating the issuance of special bonds can be expected. If incremental policies effectively boost confidence in the fundamentals, A-shares are expected to turn from a shrinking market to a volume-driven market. Hot sectors 1. Photolithography and photolithography resin concept stocks soar Photolithography and photolithography resin concept stocks opened with strong gains, with Sanhe Tongfei Refrigeration, Shanghai Highly, and Shanghai Zhangjiang Hi-Tech Park Development all hitting the one-word limit up, Shenyang Blue Silver Industry Automation Equipment opening with an increase of over 10%, Shenzhen Easttop Supply Chain Management, Qingdao Guolin Technology Group, Zhejiang Jinghua Laser Technology, and others all opening significantly higher. Comments: The Ministry of Industry and Information Technology issued the "Guidelines for the Promotion and Application of the First (Set) Major Technical Equipment (2024 Edition)." Among them, in the special electronic equipment directory, integrated circuit production equipment includes fluoride argon GKJ, light source 193 nanometers, resolution 65nm, and etching 8nm. 2. HarmonyOS concept stocks continue to be active HarmonyOS concept stocks continue to be active, with CHINA BEST Network Security hitting the limit up, Shijiazhuang ChangShan BeiMing Technology rising by over 8%, and Hangzhou CNCR-IT, Beijing Oriental Jicheng, Talkweb Information System, and others following suit. Comment: On the news front, Huawei's "pure-blood" Harmony OS system will officially launch at the end of September. The Debon Securities Research Institute believes that the native HarmonyOS has entered the final sprint stage of forging a universal interconnected operating system after ten years. The native HarmonyOS adheres to open applications, and the HarmonyOS application ecosystem has taken shape. Huawei's native HarmonyOS will become a pioneer and leader in the rise of domestic operating systems, safeguarding information security and management efficiency. Pay attention to Huawei HarmonyOS related companies.