With the resumption of work and production after the year, the PMI is expected to show an improvement trend in March, and the liquidity environment of A-shares has improved significantly, which is an important support for the valuation repair process of A-shares. Core assets** may be in the pipeline, the growth rate of A-share performance has stabilized and rebounded, and the valuation is at a historically low level. Despite the market experience, valuations are still at a low level overall, supported by the loose domestic monetary environment and changes in the A-share liquidity environment. The wait-and-see sentiment of the market during the two sessions will heat up in stages, and it will be mainly dominated by the expected difference in policy.
The top five main net inflows into the industry sector: non-ferrous metals, non-ferrous metals · copper, rare earth magnets, **non-ferrous · nickel; The top five main net inflows into the concept sector: praseodymium neodymium, Inner Mongolia, large agriculture, power system reform, automobile dismantling; The top 10 main net inflows: China Rare Earth, Dongfang Precision, Tongling Nonferrous Metals, Zijin Mining, Northern Rare Earth, Ping An of China, Ping An Bank, Yangtze River Power, Midea Group, Yunnan Aluminum Co., Ltd.
According to TrendForce's research, despite the traditional off-season in the first quarter, the revenue of the NAND Flash industry is expected to increase by 20% quarter-on-quarter due to the continuous expansion of the order scale, which has encouraged the average contract price of NAND Flash to increase by as much as 25%. With the development of digitalization, the demand for smart phones, smart wearable devices, PCs, servers and other products has increased, making the growth momentum of memory chips sufficient. Riding bulls and bears believes that with the further recovery of demand, price increases are expected to continue, and both volume and price will rise. In addition, the penetration rate of high value-added products such as HBM and DDR5 is gradually increasing, which is expected to drive storage **further**, and the market is expected to **31-58% in 2024.
Samsung SDI announced that it aims to mass-produce all-solid-state batteries in 2027 to meet the needs of the electric vehicle era. Samsung SDI has set up an all-solid-state battery pilot line at its Suwon R&D center last year and is currently producing prototype samples. Solid-state batteries have two significant advantages: high energy density and high safety, and are the next generation of high-performance lithium batteries. The impact of solid-state batteries on the material system will be solid-state electrolyte, new anode, and new cathode. We believe that the development of batteries will change the ecological chain of the new energy industry, and will also change the demand for new energy vehicles.
According to data released on March 6 by WiseApp·Retail·Goods, a South Korean mobile app and retail analytics service provider, the number of app users of AliExpress, Temu, and Shein all hit a new high in February. AliExpress mobile app users were 8.18 million, a year-on-year increase of 130%, the highest since the beginning of relevant statistics in 2016. In the future, with the release of the consumption potential of e-commerce in emerging markets such as Southeast Asia, there is still a lot of room for development of China's cross-border e-commerce going overseas, and with the diversification of local cross-border operation platforms and the increasing improvement of infrastructure, it also provides a better development soil for domestic cross-border enterprises. According to Statista, the share of global e-commerce retail sales in total global retail sales is expected to increase from 19 in 20235% will increase to 23% in 2027, and the high prosperity of the industry is expected to be maintained.
Micron plans to take the lead in supporting Canon's nano-printing technology, which will further reduce the cost of producing a single layer of DRAM memory chips, according to The Times. Previously, SK hynix, a major memory manufacturer, also introduced Canon nanoimprint printers for production testing of 3D NAND. Nanoimprint technology has the potential to replace traditional optical lithography in specific fields, and the market is expected to continue to grow as downstream applications expand and the penetration of this technology increases. Riding the bull and watching the bear believes that the lithography machine is already an imminent technology, which also forces the intensification of domestic substitution, and in the situation of the global market undercurrent surging, you can pay attention to the changes in the lithography machine after that.
The Shanghai Composite Index is weak in its upward attack, and the main funds do not protect the disk at a critical time, so we must be careful with this signal. Investors still have to pay attention to the changes in this position, after all, this wave is not a normal bull market, or the disk is pulled up, the funds in the field are "little white rabbits", and they will flee if there is a little wind and grass, so there are more intraday profits.
The ChiNext index was under pressure near the 120-day line and did not break through, and then fell below 1,800 points, and there was no disk protection fund. If this position continues to fall downward, it is to fill the gap, and if it cannot stabilize and return to 1800 points on Friday, then it is necessary to be cautious after that. The rotation of this position of the theme plate began to take the unpopular route, **of** on the one hand, the external market rose sharply, on the other hand, the market risk aversion heated up, here to start to be careful that the index may appear **trend.
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