On Thursday morning trading, the three major A-share indexes fluctuated and adjusted in volume, with the Shanghai Composite Index relatively strong. As of noon close, the Shanghai Composite Index fell 0.21%, the Shenzhen Component Index fell 0.42%, and the ChiNext Index fell 0.49%. The half day transaction volume of the Shanghai and Shenzhen stock markets was 697.2 billion yuan, an increase of 78.6 billion yuan compared to the same period last trading day.
On the market, following Sora, Kimi has opened up a new generation of trends, and related concepts have exploded. Huace Film and Television and Reader Culture have hit the daily limit up by 20%; Low altitude economic concept stocks continue to be strong, with Yongyue Technology hitting the limit up for 8 consecutive days, while Sichuang Electronics, Huashe Group, Lihang Technology and others hit the limit up; The non-ferrous metal sector has strengthened, while China Resources has hit the limit up.
In the Hong Kong stock market, due to Alibaba's reduction in holdings, the stock price of Xiaopeng Motors fell more than 8% in the early trading session. As of the time of publication, Xiaopeng Motors still fell more than 6% to HKD 37.8 per share.
According to the 144 form submitted by Xiaopeng Motors to the US Securities and Exchange Commission, Alibaba subsidiary Taobao China Holdings Limited plans to sell 33 million Xiaopeng Motors ADSs with a total value of approximately $314 million, with a sale date of around March 20, 2024.
Kimi concept stocks are on fire
Huace Film and Television, Reader Culture "20cm" limit up
After Sora, the Kimi intelligent assistant developed by domestic AI company Moon Dark Side has become popular in the market, igniting a new round of investment enthusiasm in the field of artificial intelligence. Driven by this, related sectors such as short drama games, film and television media have collectively surged today. As of the close of noon, Huace Film and Television, Readke Culture, etc. rose by the limit by 20%, while Jiecheng Shares rose by more than 10%. City Media, Zhangyue Technology, Zhongguang Tiancai, etc. also rose by the limit.
Recently, General Artificial Intelligence startup Moonshot (Dark Side of the Moon) announced a new breakthrough in large model long context window technology. Its self-developed Kimi intelligent assistant has supported 2 million words of ultra long lossless context and has started product internal testing.
Huace Film and Television recently announced on the investor interaction platform that the company established the AIGC Application Research Institute last year, which has developed its own screenwriting assistant, script evaluation, video retrieval, AI stills, and more. Recently, it launched the "AIGC Multi Language Intelligent Translation Workflow", which can generate and output translations in multiple languages such as French, Spanish, Arabic, and Japanese in 60 seconds. It can also synchronously output fluent audio introductions in multiple languages. The system has already been used in the C-Dramarights cloud platform business, and the next step will be to further empower cloud platform graphics, animation adaptation, and other aspects. The development of the audiobook function is also accelerating.
Minsheng Securities analysis shows that Kimi is currently being used effectively in domestic models, and it is recommended to focus on three main themes: first, the continuous iteration of domestic models, and the subsequent launch of multimodal models, which is expected to empower the application level; The second is to integrate Kimi and other models at the application level to improve application effectiveness, and pay attention to companies that have made progress in "AI+" applications; Thirdly, as a content production tool, models are expected to bring significant improvements in production capacity and content accuracy in various content fields such as film and television, short dramas, short videos, and games. It is recommended to pay attention to high-quality IP reserves and film and television content production, as well as companies that focus on AI video models.
Low altitude economic heat remains strong, with Yongyue Technology hitting 8 consecutive boards
With the continuous strengthening of policy efforts, the concepts of flying cars and low altitude economy have continued to be active in recent times. Yongyue Technology once again hit the daily limit in early trading today, breaking out of its eight consecutive boards. As of the close, Zongheng Shares and Jizhi Shares have risen by over 10%, while multiple stocks such as Sichuang Electronics, Huashe Group, Lihang Technology, Prince New Materials, Xianheng International, and Wolong Electric Drive have hit the limit up.
The Civil Aviation Administration of China recently held a meeting of the General Aviation Work Leading Group to study the strategic emerging industry of "low altitude economy". The meeting emphasized that in the face of new situations and requirements for the development of low altitude economy, the Civil Aviation Administration of China, as the competent department of national civil aviation affairs, should conduct in-depth research on the development laws of low altitude economy, re understand and sort out previous laws and regulations such as navigation and drones, and further study and improve the relevant policy and regulatory system of civil aviation, low altitude safety supervision system and capacity building, low altitude flight service guarantee system construction, airworthiness certification system and capacity building.
According to Markets and Markets forecasts, the eVTOL market size will be approximately $1.2 billion in 2023, and it will reach $23.4 billion by 2030, with a CAGR (compound annual growth rate) of 52.0%. The eVTOL market has considerable potential. EVTOL, as an efficient, sustainable, and multifunctional transportation solution, is gradually becoming an important component of urban air traffic. It can take off and land vertically, fully utilize vertical space, provide faster point-to-point transportation services, and effectively alleviate ground traffic congestion.
Gold stocks strengthen, and China Resources Resources hit the limit up
Affected by the Federal Reserve's interest rate decision last night, which is expected to cut interest rates three times within the year, gold prices have risen significantly, and A-share gold stocks have risen strongly in early trading. As of the close of noon, China Resources has hit the limit up, while Bowei Alloy, Shengda Resources, and Jingui Silver have risen by over 5%.
On March 21st, the main price of Comex gold futures briefly broke through $2200 per ounce during trading, hitting a new historical high.
Southwest Securities believes that the Federal Reserve's interest rate meeting will release a signal of interest rate cuts, and short-term gold prices are expected to remain high. Long term bullish outlook on gold prices remains unchanged: the Federal Reserve's monetary policy is in a switching cycle, increasing economic growth pressure, and long-term US bond yields and the US dollar remain downward in the long term cycle; The scale of American debt has reached new highs. As a substitute for credit currency, gold has increased its intrinsic value; Against the backdrop of anti globalization, increasing global risk events, and continuous central bank purchases of gold, the strategic allocation position of gold has been elevated.
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