A-share opening express | Not giving up anymore? Global stock markets underwent a "violent recovery" and A-shares followed the rebound, with the Shanghai Composite Index rising more than 1%.

No more hits? Trump threatens to "end the war within two to three weeks", Iranian President simultaneously releases willingness to negotiate, and dual benefits instantly ignite the market. On Wednesday, the global stock market, which had suffered heavy losses before, rebounded strongly, with overnight US stocks hitting their largest single-day gain in recent times. The Asia-Pacific stock markets collectively opened higher today, with Japanese stocks surging 3%, Korean stocks triggering a circuit breaker, the Hang Seng Index opening 2.3% higher, the Hang Seng Technology Index rising 2.75%, and oil prices stabilizing after falling. In the A-share market, the three major indexes opened significantly higher, as of 9:40, the Shanghai Composite Index rose 1.01%, the Shenzhen Component Index rose 1.08%, and the ChiNext Index rose 1.09%. On the market, in the early trading session, the storage chip concept collectively opened higher, with Shenzhen Techwinsemi Technology hitting the limit up; the shipping sector saw abnormal fluctuations, with China Merchants Energy Shipping and Shanghai Jinjiang Shipping (Group) Co., Ltd. hitting the limit up; the large infrastructure sector was active again, with China High Speed Railway Technology hitting three consecutive limit ups, NORINCO International Cooperation hitting the limit up, and China Camc Engineering and Jinxi Axle touching the limit up; the fiberglass concept quickly surged, with Shandong Fiberglass Group Corp. approaching the limit up, and Chongqing Polycomp International Corporation rising by over 10%; the airport transportation sector was strong in the early trading session, with China Eastern Airlines Corporation and China Express Airlines rising by over 5%. In terms of key stocks, Sungrow Power Supply opened lower and fell by over 12%, with the company experiencing a decline in both revenue and net profit in the fourth quarter of last year. Looking ahead, Huaxi stated that the direction of the US-Iran conflict is still the core variable overseas and the primary external factor suppressing the risk appetite for A-shares. Due to the significant differences in the core demands of both sides, the difficulty of the "TACO" deal has significantly increased. Opportunities wise, a research report by China Securities Co., Ltd. stated that the future of commercial aerospace is vast and China and the US both place commercial aerospace at a high strategic level. Heavy Trading Sectors: 1. Storage chip concept collectively opens higher The storage chip concept collectively opened higher, with Shenzhen Techwinsemi Technology hitting the limit up, and Biwin Storage Technology, Netac Technology, Shenzhen Longsys Electronics, Shannon Semiconductor Technology, etc., following the upward trend. Comment: On the news side, overnight US chip stocks surged significantly, with SanDisk rising by over 10%, Western Digital, and Micron Technology rising by over 7%. In addition, Shenzhen Techwinsemi Technology announced that it is expected to have a net profit of 3.15-3.65 billion yuan in the first quarter. 2. Large infrastructure sector is active again The large infrastructure sector is active again, with China High Speed Railway Technology hitting three consecutive limit ups, NORINCO International Cooperation hitting the limit up, China Camc Engineering and Jinxi Axle touching the limit up, and TIETUO MACHINERY, Gemac Engineering Machinery, etc., following the upward trend. Comment: On the news side, CCTV Finance reported that the key project of the Yangtze River estuary in the "Fifteenth Five-Year Plan" - the landmark project of the Yangtze River high-speed rail - is intensifying construction. The high-speed rail will extend from Shanghai to Chengdu, connecting the Yangtze River Delta, the middle reaches of the Yangtze River, and the Chengdu-Chongqing urban agglomeration, covering a total distance of about 2,000 kilometers. The total investment in the Yangtze River high-speed railway exceeds 500 billion yuan. Institutional Perspectives: Huaxi: "Defensive to Offensive" still needs time, waiting for more stable market policies to be introduced The direction of the US-Iran conflict remains the core variable overseas and is the primary external factor suppressing the risk appetite for A-shares. Due to significant differences in the core demands of both sides, the difficulty of the "TACO" deal has significantly increased. As of now, the US-Iran war has been going on for a month, and although there have been multiple negotiation signals in the market this week, from the US "15-point ceasefire plan" and Iran's "5 conditions for a ceasefire", it can be seen that there are still significant differences between the two sides, and the uncertainty of negotiations is high. Continuing to fight while negotiating is the most likely scenario. In terms of industry allocation, defensive strategies are temporarily dominant. Suggestions: 1) Defensive sectors such as banks, utilities, essential consumer goods, etc.; 2) Autonomous and controllable energy-related new energy, power, energy storage, lithium batteries, etc.; 3) Sectors with strong growth potential and strong performance certainty, such as AI computing power, innovative drugs, etc. CICC: Future industrial investment opportunities may lie in the "future" rather than the "present" The importance of future industries is high, with relatively certain industry and policy trends. The market for future industries may exhibit characteristics such as being more stage-specific, theme-specific, and internally differentiated. In the medium to short term (about a year), it is possible to keep an eye on the progress of future industries, but in most areas, immediate deployment is not sought. Instead, it is necessary to focus on the matching risk between asset prices and enterprise development. In the long term (one year or more), as industries develop, application routes become clearer, more outstanding companies emerge, and competition patterns become clearer, it is possible to further seek investment opportunities. China Securities Co., Ltd.: Positive about the future performance of the commercial aerospace sector A research report by China Securities Co., Ltd. stated that the future of commercial aerospace is vast, and both China and the US place commercial aerospace at a high strategic level. SpaceX is leading in constellation deployment progress, rocket capacity and cost, revenue volume, and valuation volume. Driven by the strategic value of satellite orbiting and the commercial value of operational services, China's policies support commercial Aerospace Addsino Co., Ltd. from both the industrial and capital market sides. The domestic development shows an accelerated catching-up trend, with large reusable rockets beginning to fly intensively, gradually breaking through the core bottlenecks of the industry, and accelerating the closure of the commercial aerospace industry loop. Optimistic about the future performance of the commercial aerospace sector, the focus in the satellite sector is on payload overall, antennas and supporting equipment, laser communication terminals and supporting equipment, solar wings and energy system-related equipment, in the rocket sector, the focus is on engines and their 3D printing, and rocket body structural components, in the ground equipment sector, the focus is on civilian terminals and direct connection to mobile phones, and in the operational services sector, the focus is on companies with scarce qualifications.