A-shares evening hot topics | Is the prosperity continuing? Leading storage company signs orders worth hundreds of billions

1. The continuity of prosperity? Storage leader signs a billion-dollar order Importance: Biwin Storage Technology announced on March 24 that the company has signed a daily operational procurement contract with a storage original factory. The company has agreed to purchase a certain storage wafer from the supplier according to the quantity, price, and time specified in the contract. The total commitment purchase amount of the contract is 15 billion US dollars (approximately 103 billion RMB), which exceeds 50% of the company's audited operating income and total assets in the most recent fiscal year. The total duration of the commitment purchase is 24 months. Ping An Securities believes that the storage industry is currently facing a key upgrade node, with overseas CSPs (cloud computing companies) continuously increasing their AI infrastructure construction, and the growth in AI training and inference scale leading to an increase in absolute shipment volume. The proportion of high-technology products such as HBM and enterprise SSDs has increased, raising the average selling price. Considering the current high prosperity of AI, the strength and sustainability of this storage cycle are expected to surpass the previous one. 2. Innovative drug "reversal of plight" logic solidifies, another giant's performance exceeds expectations Importance: On March 24, WUXI BIO announced its performance for 2025, with both revenue and net profit seeing a significant increase compared to the previous year, reaching historical highs. The revenue was 21.8 billion yuan, a year-on-year increase of 16.7%; net profit attributable to shareholders was 4.9 billion yuan, a year-on-year increase of 46.3%. The gross profit was 10 billion yuan, a year-on-year increase of 30.9%; the gross profit margin was 46%, a year-on-year increase of 5 percentage points. It is worth noting that WuXi AppTec announced its performance on the 23rd, achieving operating income of 45.456 billion yuan in 2025, a year-on-year increase of 15.84%; net profit attributable to the shareholders of the listed company reached 19.151 billion yuan, a significant year-on-year increase of 102.65%. Even after deducting non-recurring gains and losses, net profit attributable to shareholders still achieved a steady increase of 32.56%. Guosen believes that with the short-term performance realization ability and long-term global competitiveness, the CXO sector remains the strongest theme in current pharmaceutical investments. 3. Officially set! The rise of "Tokenomics" in the AI era Importance: At the China Development High-level Forum 2026 Annual Meeting, Liu Liehong, Director of the National Bureau of Statistics, stated that "Token" is not only the value anchor of the intelligent era but also the "settlement unit" that connects technology supply and business demand, providing a quantifiable possibility for the landing of business models. The official translation given for Token is "" (cyun) in Chinese. The daily Token call volume in China has increased more than a thousandfold in two years. Since January this year, a model enterprise has generated revenue in 20 days that exceeds the total revenue for the whole of last year. 4. Xiaomi discloses latest performance! Automotive business exceeds 100 billion for the first time, achieving profitability Importance: On March 24, Xiaomi Group released its full-year performance report for 2025, setting a new record. Specifically, the company's total revenue for 2025 reached 457.3 billion yuan, a year-on-year increase of 25%; adjusted net profit was 39.2 billion yuan, a significant year-on-year increase of 43.8%, both reaching historical highs. Last year, Xiaomi Group's innovative businesses in smart electric vehicles and AI exceeded 100 billion yuan in revenue for the first time, a year-on-year increase of 223.8%, reaching 106.1 billion yuan. In the fourth quarter of last year, the revenue proportion exceeded thirty percent, gradually approaching that of smartphones. At the same time, the automotive business achieved annual profitability for the first time, with annual operating income turning positive to 900 million yuan. 5. Iran's top leader's advisor reiterates the conditions for ending the war Importance: In an interview aired on Iranian national television on March 23, Mohsen Rezaee, military advisor to Iran's new supreme leader, emphasized that Iran will not stop the war until it receives all compensations, all economic sanctions are lifted, and the United States provides international legal guarantees of non-interference in Iranian affairs. 6. The central bank to carry out a 500 billion MLF operation on Wednesday, continuing to increase for 13 consecutive months Importance: The People's Bank of China announced on March 24 that it will conduct a 500 billion yuan Medium-term Lending Facility (MLF) operation on the 25th with a fixed quantity, bid rate, and multi-price bidding method, with a term of one year. Considering that 450 billion yuan of MLF will mature in March, the central bank will net inject 50 billion yuan through MLF operations this month, continuing the increase for the 13th consecutive month. Wang Qing, Chief Macro Analyst at Dongfang Jincheng, predicts that the central bank will continue to comprehensively use medium-to-long-term liquidity management tools such as reserve requirement ratio, government bond transactions, MLF, and reverse repo operations, to keep the funding conditions relatively stable and sufficient. 7. Minister of Commerce Wang Wentao meets with members of the US-China Business Council Importance: On March 23, Minister of Commerce Wang Wentao met with a delegation of member companies led by Chairman of the Board of Directors of the US-China Business Council, Tsai Shibo and President, Dan Sen. Wang Wentao stated that while it is inevitable for China and the United States to have some differences and friction in economic and trade cooperation, the key is to respect each other's core interests and major concerns, and to resolve differences through equal dialogue. He hopes that the US and China will work together to maintain the stability, health, and sustainable development of the Sino-US economic and trade relationship. 8. Deputy Director Zhou Liang of the China Banking and Insurance Regulatory Commission is under investigation Importance: According to the website of the Central Commission for Discipline Inspection of the National Supervisory Commission on March 24, Zhou Liang, member of the party committee and deputy director of the China Banking and Insurance Regulatory Commission, is suspected of serious violations of discipline and law and is currently undergoing disciplinary investigation and supervision by the Central Commission for Discipline Inspection of the National Supervisory Commission. The official profile shows that Zhou Liang, male, Han nationality, born in October 1971, is a member of the Communist Party of China with a master's degree in economics. He currently serves as a member of the party committee and deputy director of the China Banking and Insurance Regulatory Commission. 9. State Administration for Market Regulation: Actively safeguard the market order of fair competition and stimulate the vitality of market entities Importance: According to the official WeChat account of the State Administration for Market Regulation, a symposium on price supervision inspections and anti-unfair competition work in the national market regulation system was held in Beijing on March 24. The meeting emphasized deepening price supervision inspections, cracking down on "overlapping" competition, promoting full-chain governance of enterprise-related fees, increasing enforcement efforts against unfair competition, innovating business secret protection, regulating direct sales to combat pyramid schemes, and enhancing the price and competition capabilities. Efforts are being made to play the roles of price governance and competition supervision more effectively. Regarding investment opportunities that market participants are paying attention to, real estate is being closely monitored. 1. The transaction volume of second-hand houses is catching up with the previous bull market, Shanghai's property market is pushing for the "30,000 units" mark Since March, the second-hand housing market in Shanghai has been heating up, with transaction volume nearing a key threshold. According to data from "Online Real Estate," as of March 22, the total transaction volume of second-hand houses in the city has reached 21,443 units, with an average daily transaction of nearly a thousand units. With the combined effect of policy relaxation and traditional "Golden Week and Silver Four", the weekly transaction volume has reached a new high since 2021, with single-day online signings breaking through 1,400 units multiple times on weekends, indicating a significant increase in market activity. "March's second-hand housing transaction volume exceeding 30,000 units this year is quite hopeful, but we need to look at the data for the next week, especially this weekend. If the daily transaction volume can continue to exceed 1,400 units on Saturday and Sunday, it will really surpass 30,000 units, which will also mean a significant reversal in market sentiment," said Lu Wenxi, a senior analyst at Shanghai China Real Estate. CITIC SEC proposes an investment strategy focused on operating assets and reevaluating the value of core Chinese assets. Development companies with core resources and operational capabilities will significantly occupy an advantage. The report specifically recommends CHINA RES LAND, China Merchants Shekou Industrial Zone Holdings, CHINA RES MIXC, Grandjoy Holdings Group, Seazen Holdings, SWIREPROPERTIES, HANG LUNG PPT, LONGFOR GROUP, and other enterprises. Expectations for the benign resonance of residential and corporate balance sheets suggest that the real estate industry is expected to leave the adjustment period behind and enter a new stage of recovery where "we will see the rainbow after the storm." Aside from real estate, the following sectors are also worth noting: 2. SK Hynix Inc., an AI company, reportedly plans to list in the U.S., raising up to $10 billion to bolster AI infrastructure. 3. Siasun Robot & Automation: China's first comprehensive intelligent engineering standard, issued in Chengdu. 4. Chemical Industry: Sunvim Group to raise industrial paint prices by 10%-25%. Regarding slightly positive announcements, investors should pay attention to Juneyao Airlines' stock repurchase plan; for slightly negative announcements, watch out for Beijing Jingneng Thermal's shareholder share reduction. Slightly Positive Announcements 1. Juneyao Airlines: Proposes a share buyback plan of 2.5 billion to 5 billion yuan. 2. Zhejiang JIULI Hi-tech Metals: Proposes a share buyback of 1.5 billion to 2 billion yuan for employee stock ownership plan. 3. Ningbo Donly: Proposes to buy back company shares worth 60 million to 120 million yuan. 4. Biem.L.Fdlkk Garment: Director Shen Jindong proposes to increase his holdings of company shares by 50 million to 100 million yuan. 5. Three Squirrels Inc.: Plans to repurchase company shares worth 1-2 billion yuan. Slightly Negative Announcements 1. Beijing Jingneng Thermal: Shareholders Chen Xiuming and Zhongshan Universal Investment plan to collectively reduce their holdings by no more than 4%. 2. Hefei Jingsong Intelligent Technology: Shareholder Huamao Investment plans to passively reduce their holdings by no more than 1%. 3. Hunan Valin Wire & Cable: Director Zhang Jun plans to reduce his holdings by no more than 0.08% of the company's shares. 4. Beihai Gofar Chuanshan Biological: The company's major shareholder's 3.4% stake is to be auctioned off judicially, potentially leading to a change in the controlling interest. 5. Hainan Mining: a net profit of 431 million yuan in 2025, a year-on-year decrease of 38.99%. Key company performance overview 1. China Telecom Corporation: Net profit for 2025 was 33.185 billion yuan, a year-on-year increase of 0.5%. 2. Wus Printed Circuit: Net profit for 2025 was 38.22 billion yuan, a year-on-year increase of 47.74%; plans to cash dividend 5 yuan. 3. China Oilfield Services: Net profit for 2025 was 38.42 billion yuan, a year-on-year increase of 23%; plans to cash dividend 2.825 yuan. 4. Yuanjie Semiconductor Technology: Net profit for 2025 was 1.91 billion yuan, turning around from losses in the previous year; plans to cash dividend 7 yuan and issue 4.5 bonus shares. This article is reproduced from "Tencent Self-selected Stock", GMTEight edited by Li Fo.