Massive surge! Billion-dollar giant hits the daily limit!

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【Introduction】The ChiNext Index surged over 3%, with energy storage, photovoltaic, and electronic component sectors leading the gains.

China Fund Reporter Li Zhi

Let’s take a look at the latest market conditions and news.

On the morning of March 20, the A-share market fluctuated and strengthened, with the ChiNext Index rising over 3%. By midday, the Shanghai Composite rose 0.16%, the Shenzhen Component rose 1.57%, and the ChiNext Index increased 3.3%. Additionally, the STAR Market Composite Index gained 0.78%.

In terms of sectors, energy storage, photovoltaic, and power sectors led the gains, while energy equipment, aerospace and military, and diversified finance sectors declined.

In Hong Kong stocks, the Hang Seng Tech Index fell over 1%, with Xiaomi Group and Alibaba both dropping more than 5%.

Energy Storage Concept Stocks Surge Strongly

Energy storage concept stocks surged strongly. Sungrow Power Supply hit the daily limit with a 20% increase, and Deye, Chint Power (rights protection), and Shouhang New Energy also hit the limit. Among heavyweight stocks, CATL rose over 4%, and Sunlight Power, EVE Energy (rights protection), and Tinci Materials all increased over 7%.

On the news front, fueled by geopolitical conflicts, the focus on energy security has surged. As a core carrier of distributed energy, energy storage’s strategic importance has become more prominent.

CITIC Construction Investment Securities believes that currently, North American power systems face issues such as long grid connection cycles, aging and decommissioning of power and grid equipment, and insufficient backup capacity. The explosive demand for AIDC will lead to North American power grid shortages of 39.9 GW, 51.8 GW, and 67.8 GW in 2026-2028, respectively. Gas turbines, energy storage, and grid equipment will become core beneficiaries, gradually turning into reality. Currently, the market only recognizes the prosperity of gas turbines. It is expected that in half a year to a year, grid investment and energy storage construction will begin to increase steadily. North America’s profit scale far exceeds that of other regions globally, making the related industry chain highly promising.

Electronic Components Sector Rises Collectively

The electronic components sector rose across the board. Zhongrun Optical, Tengjing Technology, and Haixi Communications all gained over 10%.

On March 19, market research firm IDC released new data showing that China’s foldable smartphone market experienced an epic boom. March sales reached 2.8 million units, a year-on-year increase of 120%, and a month-on-month surge of 50%. This data not only broke industry records but also marked the transition of foldable screens from niche novelty to mainstream market, driven by technological maturity, price reductions, and government subsidies.

Donghai Securities stated that the global smartphone market has shown resilience amid multiple challenges. Strong performance of high-end models and foldable screens, along with consumers upgrading early due to expected price hikes, have provided growth momentum. Currently, demand in the electronics industry continues to recover, supply is effectively clearing, storage prices are rising, and domestic substitution efforts are exceeding expectations.