Market Overview
The Zhitong Finance App learned that the market showed a rebound pattern of “collective index rise, individual stocks generally rising, and prominent structural hot spots”. On August 4, the three major A-share indices collectively opened higher. Early trading fluctuated and strengthened, and the GEM index led the rise. By the midday close, the Shanghai Index had risen 0.16%, the Shenzhen Index had risen 2.74%, and the GEM Index had risen 4.83%; Science and Innovation 50 had risen 2.91%, and the Beijing Stock Exchange 50 had risen 1.67%. In the entire market, 3,760 stocks rose and 1,599 stocks fell, of which 85 rose or stopped and 1 fell to a halt. The half-day turnover of the Shanghai and Shenzhen markets was about 1.36 trillion yuan, down about 4.4 billion yuan from the previous trading day.
Overview of the plate
On the upward side, CPO and optical communication concepts exploded across the board. Unicom Instruments rose more than 17%, Yuanjie Technology rose more than 12%, Zhongji Xuchuang, Xinyisheng, and Tianfu Communications all rose sharply, and many stocks such as Dongshan Precision, Yongding, and Sega Technology rose; CRO concept exploded, with Pharmaceuticals rising and stopping, Boteng Shares and Kanglong Chemical followed; the computing power leasing concept continued to be strong, with Meriyun 3 consecutive boards, and Hongjing Technology stepped out of the 20cm 3-day 2-2 board, Qingyun Technology It went up and down, and many stocks such as Litong Electronics, Runjian Co., Ltd. and Jialitu rose and stopped; the AI application side rebounded and spread wisdom Education has advanced to 7 consecutive boards, Hengyin Technology has 3 consecutive boards, and Rebate Technology and China Science Communication have all gone out of the 3rd board in 5 days. In terms of decline, the banking sector had the highest decline, with ICBC and the Bank of China all falling by more than 3%; the liquor sector weakened, and Kweichow Moutai fell by about 1.91%; and sectors such as insurance and airport shipping also showed weakness.
Overall, capital flows out of important sectors such as banks and liquor and flows into the direction of technological growth such as CPO, computing power, and innovative drugs, and the market showed clear structural rebound characteristics.
Popular sections
1. CPO and optical communication concepts have exploded across the board
The sector set off a wave of ups and downs. Dongshan Precision, Yongding, Sega Technology, Huilu Ecology, Huashengchang, Tongyu Communications, etc. rose more than 17%, Optical Bank Technology rose more than 16%, Co-Innovation Data rose more than 14%, Yuanjie Technology rose more than 12%, Xinyi Shengsheng rose more than 11%, Tianfu Communications rose more than 10%, Zhongji Xuchuang rose more than 9%.
Comment: According to the news, according to TrendForce Jibang Consulting, Nvidia's new-generation Spectrum-X CPO switches have begun to be shipped to some partners, and Broadcom's 51.2T Bailly CPO switches also continue to be shipped in small quantities, marking the official entry of co-packaged optical (CPO) technology into mass production. Gilad Shainer, senior vice president of Nvidia, said that the biggest business opportunity in the future optical communications market is vertical expansion (scale-up), and the required bandwidth efficiency will be ten times that of horizontal expansion (scale-out). Furthermore, the capital expenditure of the four major North American cloud vendors continued to grow rapidly in the second quarter of 2026 and raised full-year guidance, and demand visibility extended to 2028. Citi said that China's optical communications sector may have layout opportunities before and after the release of results for the first half of 2026.
2. The CRO concept exploded
The sector opened high and moved high, with a total market value of over 420 billion yuan; Gloria Ying, Baihua Pharmaceutical, Shuangcheng Pharmaceutical, Luoxin Pharmaceutical, and Harbin Sanlian rose and stopped, while Boteng shares, Kanglong Chemical, Medici, Boji Pharmaceuticals, Haoyuan Pharmaceuticals, and nearshore protein continued to rise.
Comment: According to the news, on the evening of August 3, Yao Ming Kangde released its 2026 semi-annual report. The company achieved operating income of 28.897 billion yuan in the first half of the year, an increase of 38.93%; net profit to mother exceeded 10 billion yuan for the first time in the first half of the year, reaching 11.08 billion yuan, an increase of 29.43% over the previous year. The company comprehensively raised its 2026 full-year performance guidelines. Overall revenue was raised from 51.3 billion yuan to 53 billion yuan to 58.5 billion yuan, and the year-on-year growth rate of revenue from continuing operations increased from 18% to 22% to 35% to 39%. According to Wind data, as of August 3, a total of 104 A-share pharmaceutical and biological companies have disclosed their 2026 semi-annual performance forecasts. Of these, 58 are expected to increase net profit to their mother in the first half of the year, and 28 expect a year-on-year increase of more than 100%.
3. The computing power leasing concept continues to be strong
The sector continued to rise. Hongjing Technology broke out of the 20cm 3-day 2 board, Meiliyun 3, Qingyun Technology rose and stopped 20%, Litong Electronics went out of the 3-day 2 board, Gaole shares rose and stopped, and multiple stocks such as Xingyun Technology, Runjian Co., and Jialitu rose and stopped, and Co-Creation Data, Uber, and Hanxin Technology rose more than 10%.
Comment: According to the news, data from the Chinese Academy of Information and Communications Technology shows that in the first quarter of 2026, domestic demand for AI computing power increased by 417% year on year. The effective supply growth rate was only 128%, and the gap between supply and demand continued to widen. Currently, the spot price for the top B300 has reached 14.5 million yuan. The monthly rent for the H200 is rising at the same time, and high-end computing power is in short supply. Also, according to media reports, the National Development and Reform Commission recently revealed that the construction of the computing power network during the “15th Five-Year Plan” period will increase direct investment of 4 trillion yuan to speed up the construction of a nationally integrated computing power system.
4. Reverse activation on the AI application side
The sector continued to strengthen. The word Chuanzhi Education rose and stopped and advanced to 7 consecutive boards. Hengyin Technology and Rebate Technology all went out of the 3-board in 5 days. Easypoint World rose more than 15%, Hanyi shares rose 20%, and Guangyun Technology, Foxit Software, and the blue cursor followed suit.
Comment: According to the news, the overnight performance of US AI application concept stocks Palantir and Snap both exceeded expectations. Palantir's second-quarter revenue was US$1.94 billion, up 93% year-on-year, far exceeding analysts' expectations of US$1.8 billion; Snap's second-quarter revenue was US$1.6 billion, exceeding expectations of US$1.54 billion. The two companies' stock prices both rose more than 14% after the market. In terms of intelligent education, the company recently officially released the new subject of “AI Embodied Intelligent Robot Development” and released 6 teaching robot hardware. The first course will begin in October.