Highlights of the Securities Firm Morning Meeting | Bullish on the Trends of Quantum Computing and Controllable Nuclear Fusion Industries Going Up

The market shook and rose yesterday, with the Shanghai Composite Index opening high and rising more than 1%, hitting a ten-year high and approaching 4000 points during the trading session. The total turnover of the Shanghai and Shenzhen stock markets was 2.34 trillion yuan, an increase of 365.9 billion yuan from the previous trading day. In terms of sectors, the sectors with the highest gains included storage chips, CPO, and controlled nuclear fusion, while the sectors with the highest declines included games and wind power equipment. As of the close of yesterday, the Shanghai Composite Index rose by 1.18%, the Shenzhen Component Index rose by 1.51%, and the ChiNext Index rose by 1.98%. At today's morning meeting of securities firms, Sinolink stated that they are optimistic about the trends in the quantum computing and controlled nuclear fusion industries; China Securities Co., Ltd. suggested paying attention to investment opportunities in the liquid cooling and heat dissipation sector; and CMSC pointed out that the earnings growth rate of non-financial A-shares in the third quarter is expected to show marginal improvement. Sinolink: Optimistic about the trends in the quantum computing and controlled nuclear fusion industries Sinolink stated that the "14th Five-Year Plan" proposes to promote quantum technology, nuclear fusion, etc., as new economic growth points, and they are optimistic about quantum computing and controlled nuclear fusion. On October 24, the "Recommendations of the Central Committee of the Communist Party of China on Formulating the 14th Five-Year Plan for National Economic and Social Development" proposed forward-looking layouts for future industries, promoting quantum technology, biomanufacturing, hydrogen energy, nuclear fusion energy, brain-machine interfaces, embodied intelligence, sixth-generation mobile communications, etc., as new economic growth points. These two industries are expected to receive top-level policy support and funding support, and Sinolink is optimistic about the trends in the quantum computing and controlled nuclear fusion industries. China Securities Co., Ltd.: Pay attention to investment opportunities in the liquid cooling and heat dissipation sector China Securities Co., Ltd. stated that 2025 will be a year of substantial increase in the penetration of liquid cooling for NVIDIA AI chips, and with the increase in the power consumption of single chips, the market size of liquid cooling will significantly increase in the future. As ASIC cabinet solutions gradually adopt liquid cooling and domestic manufacturers introduce super node solutions, along with the maturity of the liquid cooling industry chain, the penetration of liquid cooling in the ASIC market and the domestic market is expected to rapidly increase, further opening up market space. They recommended paying attention to the liquid cooling sector. CMSC: Earnings growth rate of non-financial A-shares in the third quarter is expected to show marginal improvement CMSC pointed out that the earnings growth rate of non-financial A-shares in the third quarter is expected to show marginal improvement against a low base. Industries with higher profit growth rates are expected to be mainly concentrated in information technology and midstream manufacturing; upstream resource and healthcare sectors are expected to have narrower declines in performance compared to the mid-year report, while financial real estate and consumer services are relatively under pressure. Key areas to focus on include information technology (communication equipment, semiconductors, consumer electronics, games, computer equipment, etc.) with potential for continued high growth rates; continuously recovering mid-to-high-end manufacturing (auto parts, batteries, photovoltaic equipment, engineering machinery, aerospace equipment, etc.); and resource and pharmaceuticals (steel, non-ferrous metals, chemical pharmaceuticals, etc.) undergoing low-level recovery. This article is reproduced from "Cai Lianshe". Editor: Liu Jiayin.