Jay Chou concept stocks, plummet by 72%!
Today, the A-share market saw a polarization, with blue-chip stocks collectively adjusting, leading to the Shanghai Composite Index and the SSE 50 Index bearing pressure and hitting new low levels for the phase. In contrast, small-cap growth stocks were active, with the ChiNext Index rising by more than 1%, and the STAR 50 Index also edging up slightly. The total turnover of the two markets was 501.1 billion yuan, setting a new low in the recent period.
In terms of sectors, lithium mining, construction machinery, home appliances, and new energy vehicles were among the top gainers, while public transportation, electricity, banking, and petroleum were among the top losers.
Real-time monitoring data from Wind showed that the power equipment industry received a net inflow of nearly 5.5 billion yuan in main funds, non-ferrous metals saw a net inflow of over 2.1 billion yuan, and non-bank finance, computers, and bio-pharmaceuticals also saw net inflows of over 100 million yuan. The banking sector saw a net outflow of main funds of over 3.1 billion yuan, transportation saw a net outflow of over 2.4 billion yuan, and electronics saw a net outflow of over 1.9 billion yuan.
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Looking ahead, Xiangcai Securities stated that the market is filled with a strong atmosphere of caution, and trading is thin. From a long-term perspective, market and fundamental factors are expected to become the dominant forces of the new cycle; from a short-term perspective, significant fluctuations in the external market are expected to cause certain disturbances to the A-share market. On the already weak foundation of A-shares, further suppressing related indices could lead to a secondary inflection point. It is recommended to focus on investment opportunities in the fields of equipment manufacturing and consumption in the mid and downstream.
Zhongyuan Securities believes that the current market valuation is still in a relatively low area, suitable for medium and long-term layout. The market's expectations for the Federal Reserve's interest rate cuts this year continue to strengthen. The overall stock index is expected to maintain a volatile pattern in the future, while it is also necessary to closely monitor changes in policy, capital, and external factors. Investors are advised to focus on short-term investment opportunities in industries such as communication equipment, software development, computer equipment, and power equipment.
In terms of hot spots, the main futures contract for lithium carbonate opened high and rose sharply, surging 7.91%, setting the largest single-day gain of the year, with trading volume nearly tripling from the previous day. The total position of all contracts soared by 29,200 contracts, reaching over 410,000 contracts, setting a historical high, and this is also the first time in history that the total position of lithium carbonate futures contracts has exceeded 400,000 contracts.
Related sectors such as lithium mining, lithium extraction from salt lakes, solid-state batteries, and power battery recycling all rose sharply, with many stocks such as Jin Guan Shares, Lian Chuang Shares, and Defu Technology hitting the 20% daily limit up, and over 10 stocks such as Defang Nano, Yong Shan Lithium, Ganfeng Lithium, and Tianqi Lithium hitting the daily limit up or rising by more than 10%.
Orient Securities pointed out that the lithium battery industry has seen the end of bearish fundamentals, and valuations have bottomed out and are being repaired. There are signs of contraction on the supply side, and the fundamentals have bottomed out and are showing an upward trend. Positive factors on the volume, price, and valuation sides are worth paying attention to, such as the upward trend in production volume, the bottoming out and stabilization of prices, and even some rebound, and the positive impact of replacing the old with the new on the valuation side. Under the combined effect of multiple factors, the opportunities outweigh the risks, and the repair of domestic lithium battery industry EPS and valuation sides is expected to become a trend.
In addition, popular stocks from the previous period continued to decline sharply today. Ke Sen Technology, which had 10 consecutive daily limit-ups, hit the daily limit down, marking the third consecutive day of limit-down. More than 10 strong stocks that had consecutive daily limit-ups in the previous period, such as Xin Ya Process, Da Zhong Transportation, Shanghai Jiu Bai, and Lian Chuang Electronics, all closed at the daily limit down today.
In the Hong Kong market, the "Jay Chou concept stock" Super Legend plummeted today. The stock first triggered the market adjustment mechanism at 10:17 a.m. and entered a 5-minute price limit trading cooling-off period, and then continued to decline, triggering the market adjustment mechanism multiple times during the trading day. As of the time of writing, the stock has plummeted by more than 72%.Since its establishment in 2017, Super Legend has been involved in planning Jay Chou's world tour concerts. Subsequently, Super Legend has successively served as the planning service provider for Jay Chou's concerts, as well as the planning service provider and investor for the "Super Star Action Super Night" in Ningbo.
At the same time, Super Legend owns the "Journey to the West" IP and the trademark of Jay Chou's two-dimensional character image "Classmate Zhou." The prospectus discloses that in 2021, Super Legend signed a 10-year IP authorization agreement with Jay Chou's artist management company, Jie Wei Music, which can be renewed for another 10 years.
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