A-share midday review | ChiNext rose 1.74% in half a day with multiple positive catalysts, Contemporary Amperex Technology A and H shares jointly reaching historic highs.

Index narrow fluctuations in the morning, collective explosive pull in the morning, the Growth Enterprise Board rose nearly 2%, its weighted stock Contemporary Amperex Technology A shares rose to 6.48%, and the stock price hit a new high; H shares broke through 500 Hong Kong dollars, also hitting a historical high. By the midday close, the Shanghai Composite Index rose by 0.41%, the Shenzhen Component Index rose by 1.02%, and the Growth Enterprise Board Index rose by 1.74%. The turnover of the Shanghai and Shenzhen markets in the morning session was 1.54 trillion yuan, an increase of 62.8 billion yuan compared to the previous trading day. Specifically, multiple positive catalysts have led to the breakthrough of Contemporary Amperex Technology's stock price: First, the intensive release of policies has become an important driver for the stock price breakthrough. On September 12, the "Special Action Plan for the Large-scale Construction of New Energy Storage" set the lithium battery energy storage installed capacity target for 2027. Coupled with the implementation of the Fujian green transformation policy, it directly benefits the leading energy storage company Contemporary Amperex Technology. Second, the upgrade of institutional ratings further ignites market sentiment. On September 14, JPMorgan Chase upgraded its H-share rating to "Buy," believing that the company's energy storage business demand exceeds expectations, and profit forecasts for 2025 have been raised by 10%. Foreign institutions' recognition of valuation attractiveness has accelerated the inflow of northbound funds, with a net inflow of mainstream funds of 545 million yuan in a single day (as of September 17). Third, the significant resonance effect in the industry chain. The company's guidance of 1100GWh of production capacity by 2026 has driven second-tier battery companies to follow suit, with the Shenwan Battery Index rising over 8% on September 15. This sector linkage effect has attracted incremental funds into the market, with the turnover of the power equipment sector exceeding one trillion yuan on that day. On the market, semiconductor chip stocks led the gains, followed by lithography machines and state-owned fund-held concepts. Stocks such as Nanjing Wavelength Opto-Electronic Science & Technology and Hunan Kaimeite Gases hit the limit up; major financial stocks surged, with J-Yuan Trust hitting the limit up; optical module and copper cable high-speed connection concepts strengthened once again, with stocks like Hui Lyu Ecological Technology Group hitting the limit up; the energy storage sector rose during the day, with Contemporary Amperex Technology rising over 6% to hit a new high; consumer electronics concepts rose collectively, with stocks like Kunshan Kersen Science & Technology hitting the limit up; Siasun Robot & Automation and the automotive industry chain continued to rise, with stocks like Ningbo Joyson Electronic Corp. hitting the limit up. On the downside, consumer concepts such as film and television, tourism, and pork fell, with stocks like China Film Group and Sanjiang Shopping Club leading the decline; logistics and unified large market concepts retraced, with HIGO falling by more than 7%. Looking ahead, EB SECURITIES stated that the logic supporting the stock market's rise remains unchanged. In addition, there are new positive factors emerging, such as the possible start of a rate cut cycle by the Federal Reserve and the resurgence of public funds issuance. Overall, the market is expected to continue to rise in the medium to long term. Popular Sectors: 1. Strong performance of semiconductor chip stocks. 2. Siasun Robot & Automation concept stocks remain hot. 3. Foldable screen concept stocks fluctuate and rise. 4. Strong performance of the tourism sector. Institutional Views: 1. EB SECURITIES: The market is expected to continue to rise in the future. 2. Huatai: The trading activity of A-share funds remains active. 3. Industrial: What will be the performance of major asset classes after the Fed rate cut? 4. Huatai: Improving prospects in the aviation sector as summer travel volumes rise. This article was reprinted from "Tencent Stock Picks" and edited by GMTEight: Wang Qiujia.