The number of "hundred-yuan stocks" on the A-share market has tripled year-on-year, with as many as 30 semiconductor companies.

On Friday (August 22), A-shares fluctuated and rose throughout the day, with the Shanghai Composite Index surpassing 3800 points and the Sci-Tech Innovation 50 Index rising over 8% to a new high in over 3 years. Market hotspots were concentrated in the mining power and chip sectors, with large-cap weighted stocks performing strongly. Hwahaeji, a "thousand-yuan stock," hit the limit up and reached a historical high, Semiconductor Manufacturing International Corporation surged 14%, and Hygon Information Technology also hit the 20cm limit up. In addition, Vantone Neo Development Group in the mining power industry chain had 11 consecutive limit up days, and Hangzhou Landscaping had 5 consecutive limit up days. In terms of industry theme indices, influenced by the outbreak of chip and mining power concept stocks, the Sci-Tech Chip Index rose by over 10%, with the Sci-Tech Artificial Intelligence Index and the CSI Artificial Intelligence Theme Index among the top gainers. Sci-Tech Artificial Intelligence ETF (588730), and Artificial Intelligence ETF (159819) and other related products were also receiving market attention. According to statistics from the "Sci-Tech Innovation Board Daily", as of the closing price on August 22, there were a total of 132 stocks on the A-share market with prices exceeding 100 yuan, triple the number compared to the same period last year (33 A-share stocks priced at over 100 yuan on August 22, 2024). Among them, the number of sci-tech innovation board stocks (58) accounted for over 40%. The list of new hundred-yuan stocks on that day included 6 companies, with 5 of them being in the mining power and chip sectors, including Semiconductor Manufacturing International Corporation, EverProX Technologies, Shanghai Bright Power Semiconductor Co., Ltd., JHT Design Co., Ltd., and Hubei Feilihua Quartz Glass. Looking at the breakdown of industries, the number of semiconductor companies among the hundred-yuan stocks is the highest, with as many as 30 companies, compared to just 6 in the same period last year. Other relatively concentrated industries include communication equipment, medical, and software development, with 13, 12, and 11 companies respectively. In terms of the overall price increase of the hundred-yuan stocks mentioned above, chip stocks still dominated the top gainers list, with 7 out of the top 10 gainers coming from the chip sector. This includes Hwahaeji, Hygon Information Technology, Acm Research (Shanghai), Inc., Semiconductor Manufacturing International Corporation, Shengkou Communication, Kingsemi Co., Ltd., and GigaDevice Semiconductor Inc. Hwahaeji closed at 1243.2 yuan/share that day, second only to Kweichow Moutai in the A-share market (which closed at 1463.95 yuan/share on the same day). Furthermore, there were only 4 sci-tech innovation board stocks that had not experienced a premium, meaning their current price was lower than their issuance price. White liquor stocks generally had a higher premium, with the top 5 companies in terms of the average premium relative to the issuance price being Luzhou Laojiao, Kweichow Moutai, Shanxi Xinghuacun Fen Wine Factory, Eoptolink Technology Inc., and Wuliangye Yibin. Among these hundred-yuan stocks, trillion-dollar companies come from the main board and the start-up board, namely Kweichow Moutai, China Mobile Limited, and Contemporary Amperex Technology. Below the trillion-dollar mark, there are already 24 companies that have entered the threshold of one trillion yuan in market value, with the top 5 being BYD Company Limited, Hwahaeji, Semiconductor Manufacturing International Corporation, Wuliangye Yibin, and Hygon Information Technology, among which the top three chip weighting stocks shine; pharmaceuticals, mining power companies closely follow, BEIGENE, Zhongji Innolight, Shenzhen Mindray Bio-Medical Electronics, NAURA Technology Group, Eoptolink Technology Inc. entered the top 10. Dongguan Securities focuses on domestic mining power and investment opportunities. The institution stated that on August 21, DeepSeek officially released the DeepSeek-V3.1 large model, which uses the parameter precision of UE8M0FP8Scale, for the design of the next generation of domestic chips. This format supports complex model inference with higher flexibility, improving the decoding efficiency and computing power of chips, providing a technical path for adapting larger models for domestic chips, and the domestic AI mining power ecosystem is expected to accelerate its formation. The latest research report from Shanghai Securities stated that the independent controllability of AI chips has not changed, the domestic ecosystem is constantly improving, and advanced processes are hopeful to open up the market space for domestic chips. At the same time, leading companies are continuing to improve the domestic AI chip ecosystem, further enhancing market competitiveness. Regarding the current market situation, Tianfeng issued a research report on August 22, stating that during a bull market period, market corrections often occur in a very short period of time. For small-level retracement of 2-4 weeks, it may be a smooth opportunity to buy in. At this time, chasing after the previous strong sectors has a higher success rate, even if buying at the peak in the market, positive returns can still often be achieved. Sectors that have shown excessive marginal weakness include AI applications in gaming, aviation equipment in the military sector, "anti-inside-curved" wind power, glass fiber, and others. There are a few sectors that even if they exhibit relative weakness during a small market correction in the bull market, they still have good odds after the adjustment. These sectors are mostly resource sectors, and resource sector stocks price in their logic relatively "slowly" compared to growth stocks. When growth stocks show excessive marginal weakness, it is difficult for them to restart without new incremental logic for valuation. On the other hand, resource sector stocks, the realization of logic (i.e., the expectation realization of the supply-demand structure) still belongs to incremental logic. Open source securities stated that in the current market, there is a certain discrepancy between the performance of molecular-end profitability and macro expectations. In the absence of macro expectations, this round of market and the typical "index bull" in the past share similar characteristics: the repair of molecular-end profitability has not become the dominant force, and the breakthrough of the index relies more on the enhancement of fund carrying capacity and the activity of thematic trading. The institution believes that the current valuation space of A-shares is sufficient and the total market value of the two markets is expected to continue to expand. This article is reprinted from "Cailianshe", author: Song Ziqiao; GMTEight editor: Xu Wenqiang.