On Thursday (December 14), the three major indexes all rose and fell, and the turnover of the two cities was 737 billion, a decrease of 31.6 billion from the previous trading day, a new low in the past two months. As of **, the Shanghai Composite Index fell 033%, the Shenzhen Component Index fell 062%, the GEM index fell 063%。In terms of sectors, state-owned assets concept, ** coal and other sectors were among the top gainers, while mixed reality, multimodal AI, Huawei Automobile and other sectors were among the top decliners. 
Agency: Focus on next spring**
On Thursday, the A-share ** index rose in the morning, but fell back in the afternoon, and the performance of small tickets continued to be stronger than that of large tickets.
In the future, with the policy expectations of investors and the expected recovery of economic prosperity, it may help A-shares get rid of weakness, and the A** market may turn around. From the perspective of rhythm, the spring of the A** field may be the first round of investment opportunities worth paying attention to in 2024. Haitong** said that there is still room for adjustment of China's policy interest rate. It is necessary to expand domestic demand, stimulate consumption with potential, expand productive investment, and promote consumption and investment each other. In terms of the equity market, as the economy continues to recover, the upward trend of A-share earnings in 2024 is expected to promote the rise of the valuation center, and the growth of Baima will be better in the future, focusing on hard technology and pharmaceuticals.
The concept of state-owned assets reform is up and down
In recent trading days, the concept of state-owned assets has begun to spread, and the concept of state-owned assets has set off a tide of daily limits on Thursday, Guoyi bidding "30cm" daily limit, Yunwei shares, Lingnan Holdings, Jinan High-tech, Shanghai Phoenix, Hangzhou Thermal Power, Zhengzhou Coal Power and other shares of the daily limit. Shanghai Jianke, which has a circulating market value of only 1.4 billion yuan, staged a "earth and sky board" on Thursday ** at 10:15 is still falling to the limit, and then the funds poured in rapidly, and by 10:30 it has turned red and risen 03%, after which the funds accelerated to enter the market, and it took only 3 minutes to close the ** board and record 3 consecutive boards. 
Shanghai Jianke Dragon and Tiger List:Fierce game of travel capital
On the news side, on the evening of December 13, Shanghai Jianke issued an announcement on abnormal fluctuations in trading, saying that the company's daily increase deviation of more than 20% in three consecutive trading days on December 11, 12 and 13. After the company's self-inspection and verification with the controlling shareholder Shanghai Guosheng (Group)** in writing, as of the disclosure date of this announcement, it is confirmed that there is no material information that should be disclosed but has not been disclosed. The announcement also shows that the company is concerned about the concept of "data elements", and the company's main business is engineering consulting services, testing and technical services, environmental low-carbon technology services, special engineering and product sales, etc., and so far does not involve data transactions and other "data elements" related businesses. However, the announcement did not stop the speculation of the market's ** funds. According to the data of Shanghai Jianke Dragon and Tiger List on Thursday, the total number of seats in the business department of the stock is 345080,000 yuan.
Among the business departments on the list on Thursday, the largest ** business department is East Asia Qianhai ** Sichuan Branch, with a ** amount of 21.98 million yuan, and the first largest selling business department is Huatai ** Headquarters, with a sales amount of 15.01 million yuan. 
Concept of state-owned assets:
Start Flip Maps
Some market views said that looking back on this wave of state-owned assets reform, first of all, it started with the concept of speculation, Sichuan Jinding closed the first board on December 6, when the market was still positioning it as "speculation figures". However, due to the fact that the concept of metaphysics is too unreliable, the market urgently needs to find a "new main line" with high recognition, large capital capacity, and short-term falsifiability, so when Nanning Department Store walked out of the first board on December 11, and at this time Sichuan Jinding has four boards, the common intersection of the two lies in the concept of state-owned enterprise reform, and the hot money was able to switch smoothly from "speculating metaphysics" to "speculating state-owned assets". In fact, from the previous high-tech development to the recent Dongan Power and Dragon Media, the reform of state-owned enterprises has been interspersed as a dark line, so there was a market view that the concept of state-owned enterprise reform may be like the previous "Huawei +", which is "state-owned enterprise reform +". However, judging from the recent performance, the market funds choose the more recognizable "speculation map" method, and the plate limit stocks are mostly based on "place names + industries", such as Nanjing Business Travel, Nanjing Port, Nanjing Utility, Shanghai Jianke, Shanghai Phoenix, Hangzhou Thermal Power, Zhejiang Zhenyuan, Nanning Department Store, etc.
Multimodal AI adjustments have fallen
In the context of the stock game, the seesaw effect of the market is obvious, and the previously strong multimodal AI concept fell back on Thursday, as of **, Wangda Software fell to the limit, and Danghong Technology, Incai Group, etc. fell more than 7%. 
However, institutions are more focused on multimodal AI for the long term. CITIC ** research report believes that in the short term, for the industry, multimodality may drive the increase in computing power demand;In the medium and long term, it is expected that the upgrade of multimodal models will enrich the use scenarios of related products, and the cost optimization brought by hardware upgrades and algorithm optimization is worth looking forward to. We continue to be optimistic about the long-term impact and changes of this round of generative AI on the technology industry, and continue to pay attention to leading manufacturers in computing power, algorithms, data, applications and other links. (Article**: Oriental Wealth Research Center).