Securities firm morning meeting highlights | Favorable factors of supply and demand for thermal coal are superimposed. The price of coal at the production site is expected to continue to rise.

The market hit bottom and rebounded yesterday, with all three major indexes closing in the red. The trading volume in the Shanghai and Shenzhen stock markets was 1.64 trillion yuan, a decrease of 23.9 billion compared to the previous trading day. In terms of sectors, Shenzhen's state-owned enterprise reform, coal, and energy metals sectors led the gains, while diamond cultivation, engineering machinery, and oil and gas sectors led the declines. At the close of trading yesterday, the Shanghai Composite Index rose by 0.22%, the Shenzhen Component Index rose by 0.22%, and the ChiNext Index rose by 0.09%. At today's securities morning meeting, China Securities Co., Ltd. pointed out that the favorable supply and demand dynamics in the thermal coal sector are expected to lead to further price increases at the production sites. Guotai Haitong suggested focusing on investment opportunities in the Yushu Siasun Robot & Automation industrial chain or ecological chain. Sinolink stated that overseas cryptocurrency mining farms are transitioning to AI computing power centers. China Securities Co., Ltd.: Favorable Supply and Demand Dynamics in Thermal Coal Sector, Production Site Coal Prices Expected to Continue Rising China Securities Co., Ltd. stated that the favorable supply and demand dynamics in the thermal coal sector are expected to lead to further price increases at production sites. Recently, major production areas have been affected by rainfall and maintenance on the Daqin line, resulting in restrictions on coal production and transportation, and a slight tightening of coal supply. As the northern regions gradually enter the heating season and industries such as chemicals and metallurgy enter their peak seasons, downstream procurement demand is gradually increasing, market trading activity is picking up, and bullish sentiment in the market is strong, leading to overall strong prices at production sites. Guotai Haitong: Focus on Investment Opportunities in Yushu Siasun Robot & Automation Industrial Chain or Ecological Chain Guotai Haitong pointed out that on October 20, Yushu Technology released a video of the H2 bionic humanoid Siasun Robot & Automation on WeChat, which is 180cm tall and weighs 70kg. Yushu has significant advantages in the field of humanoid Siasun Robot & Automation, with continuous technological iteration of its products. Guotai Haitong recommended focusing on investment opportunities in the Yushu Siasun Robot & Automation industrial chain or ecological chain. Sinolink: Overseas Cryptocurrency Mining Farms are Transitioning to AI Computing Power Centers Sinolink stated that cryptocurrency mining farm companies, due to their low electricity prices and large approved electricity quotas, have become new entrants in the AI data center industry. Currently, most cryptocurrency mining farms are preparing to transition to AI data centers, but their strategies and progress vary. It is recommended to pay attention to companies that are more proactive in transitioning to AI data centers, have clear AI computing expansion plans and electricity guarantees, with a total market value, holding value, and current stock price representing a discount on the sum of contract present values. This article is reprinted from "Cai Lian She", GMTEight editor: Jiang Yuanhua.