A-share opening express | ChiNext Index heavyweight stock Contemporary Amperex Technology (300750.SZ) rose more than 6%, and the automotive sector is active.

On November 12, the A-share market fluctuates and rises in the morning. The ChiNext Index weighting stock Contemporary Amperex Technology rose by over 6%. As of 9:46, the Shanghai Composite Index rose by 0.31%, the Shenzhen Component Index rose by 1.08%, and the ChiNext Index rose by 1.73%. In terms of individual stocks, Ant Group concept is active, Inner Mongolia Junzheng Energy & Chemical Group hit the limit up for two consecutive days, and the automotive vehicle concept strengthened again with Jiangling Motors Corporation and Dongfeng Automobile both hitting the limit up. On the downside, high-priced stocks continued to decline, with China Zhonghua Geotechnical Engineering Group, Hainan Shuangcheng Pharmaceuticals, Nanfang Black Sesame Group, Landai Technology Group Corp., China Fortune Land Development, and Hua Ying Technology hitting the limit down for two consecutive days. In terms of main funds, funds favor metal new materials, medical services, optoelectronics, and other industries, while funds are flowing out of the semiconductor, software development, and computer equipment industries. Institutional viewpoints: Looking ahead, EB SECURITIES believes that with continuous policy benefits and expected further policy benefits in the future, as well as high popularity in the market, the market is expected to continue its upward trend. CICC: A-shares return to a prosperous outlook, returning to the race track layout. CICC research report pointed out that A-shares have returned to a prosperous outlook and a race track layout. Some of the countrys industries have undergone years of adjustment in their fundamentals, and capacity is expected to be cleared under policy guidance and industry trends, with the number of industries experiencing a recovery increasing gradually next year. Combined with the improvement in investor risk appetite, the investment philosophy of the past three years may face adjustments, and race track research and prosperity investment are expected to gradually return. EB SECURITIES: The market is expected to continue its upward momentum. EB SECURITIES believes that the positive news of the 10 trillion RMB debt reduction has pushed the A-shares higher on Monday. Structurally, the news of "TSMC supply disruption" has stimulated a sharp rise in technology stocks led by chips and semiconductors, driving market sentiment. Looking ahead, with continuous policy benefits and expected further policy benefits in the future, as well as high popularity in the market, the market is expected to continue its upward trend. Huatai: The market may be accumulating energy for the next upward wave. Huatai believes that after a rapid increase in the short-term market, the market usually turns to an upward trend with fluctuations. Currently, there are still opportunities for the overall index to rise, and the market may be accumulating energy for the next major upswing. The choice of investment structure in the coming period may be more critical. The upcoming important observation windows are the end-of-month important meetings, the Central Economic Work Conference at the end of the year, and next year's sessions. During this period, expectations for more incremental policies remain. Current A-share valuations are at historically moderate levels, and the long-term investment value is still high. With the implementation of the debt reduction measures and subsequent fiscal policy reinforcement, market risk appetite is expected to increase, investment confidence is expected to be boosted, and A-share valuations are expected to rise. Popular sectors: 1. Active automotive sector The automotive vehicle concept is actively trading, with Jiangling Motors Corporation and Dongfeng Automobile hitting the limit up, and SAIC Motor Corporation, Yutong Bus Co., Ltd., Zotye Automobile, etc., showing strong gains. Commentary: According to data from China Association of Automobile Manufacturers, in October, new energy vehicles continued to grow rapidly, reaching a new high in monthly production and sales, completing 1.463 million and 1.43 million units respectively, an increase of 48% and 49.6% year-on-year, with new energy vehicles accounting for 46.8% of total new car sales. Guoyuan believes that the profit level of the automotive industry has entered a stage of stable growth and high-quality development, and suggests paying attention to the end-of-year market trends in the industry and the specific implementation of the "trade-in" policy before the end of the year.