On June 13, the broader market rebounded throughout the day, with the three major indexes rising slightly, led by the Shenzhen Component Index and the Shanghai Index recording five consecutive sunshine. By the close, the Shanghai Composite Index was up 0.15%, the Shenzhen Component Index was up 0.76%, and the ChiNext Index was up 0.68%. Northbound funds sold a net of 231 million yuan throughout the day, of which Shanghai Stock Connect sold 353 million yuan and Shenzhen Stock Connect bought 122 million yuan. The trading volume of Shanghai and Shenzhen today was 942.3 billion, a decrease of 23.1 billion from the previous trading day. Overall, individual stocks rose more or less, and more than 2,500 stocks rose in the two markets.
In terms of sectors, memory chips, liquid-cooled servers, computing power leasing, CPO and other sectors rose first, while pharmaceutical commerce, traditional Chinese medicine, oil and gas exploitation, home appliances and other sectors fell first.
On the market, AI concept stocks have been active repeatedly, among which the concept stocks of computing power collectively strengthened in the afternoon, Yakang shares (301085), Dawei shares (002213), Nanxing shares (002757), Chengdi Xiangjiang (603887) and other limit increases, and Inspur Information (000977) once rose to a record high; ChatGPT and application direction soared higher in early trading, Tianyu Digital Science (002354), Chuanzhi Education (003032), Lingnan (002717), Ciwen Media (002343) and other up limit, iFLYTEK (002230) rose more than 9% to a record high. Individual stocks in the new energy vehicle industry chain continue to be active, with many shares such as Dishengli (603335), Feilong (002536), and Lianming (603006). UHV and power grid concept stocks once soared, and Aotexun (002227), Guodian Nanzi (600268), Aerospace Chenguang (600501) and so on.
On the downside, pharmaceutical stocks fell into a correction, with Sinopharm (600511) and Qianjin Pharmaceutical (600479) falling more than 5%.
Hot Plate Analysis:
First, the outbreak of memory chips
The memory chip sector broke out again in the afternoon, with Dawei shares up to the limit, GigaDevice (603986) up 8%, and individual stocks such as Puran shares, Baiwei Storage, Beijing Junzheng (300223), Longsys (301308), and Allwinner Technology (300458).
Soochow Securities pointed out that the Micron review incident landed, which is expected to accelerate the process of storage localization.
With Samsung's profit plummeting 96% in the first quarter of 2023 and a loss of 3 trillion won in its storage business, Samsung officially announced a 20% reduction in memory chip production, which has been reduced by 20% as of mid-March 2023. As storage product inventory peaked, storage prices fell to the trough, in order to reduce losses, Changjiang Storage also officially announced a 3-5% increase in storage wafer prices, foreign media reported that Kioxia and Western Digital will accelerate merger negotiations to enhance competitiveness. The supply pattern of the storage track continues to be optimized, waiting for the downstream demand boom to pick up.
At present, the storage industry has entered the bottoming stage, with valuation bottom recovery expectations.
After a period of destocking in the industry, the current inventory level continues to approach the normal level, the end customer destocking is nearing the end, and the inflection point of industry recovery can be expected.
2. Liquid-cooled server
The sector rose 2.78%, of which Ruixin Technology (300828) 20cm up limit, Science Innovation Source (300731), Feilong Shares, Inspur Information, Eurocom (300870), Sugon Digital Innovation, China Great Wall (000066) followed.
Today, more AI-related stocks rose, iFLYTEK hit a record high, and liquid-cooled servers as AI hardware ushered in a sharp rise. Recently, AMD will hold a press conference at 1 a.m. Beijing time on June 14, which is also catalyzed for the computing power sector.
IDC data shows that the size of China's liquid-cooled server market will reach 7.2 billion yuan in 2022, yoy + 190%, and the CAGR is expected to reach 57% in the next five years. In the supercomputing scenario, liquid cooling has almost become a must. At present, the power of a single A100 reaches 400W, and the H100 reaches 700W, and it is difficult to improve the efficiency and power consumption ratio in the future chip process, and the power of a single card will only increase. NVIDIA has made it clear that in the future, it will gradually switch to liquid cooling solutions to adapt to the HGX platform.
In addition, AMD will hold a press conference at 1 a.m. Beijing time on June 14. AMD previously announced that it will release the MI300 acceleration processor against the NVIDIA H100 in 2023, and we recommend paying attention to AMD's layout in AI computing power.
3. Computing power leasing
The direction of computing power leasing once again rose first. Among them, Yakang shares won a 20CM price limit, Nanxing shares and Chengdi Xiangjiang rose to the limit, and Inspur Information, Zhejiang University Net New (600797), Zhongke Shuguang (603019) and other stocks rose first.
Computing power leasing is the rental of computing power, which is a mode of renting computing resources through cloud computing service providers.
Flush (300033) data shows that since May, as of June 12, 9 listed companies in the computing power leasing sector have been intensively investigated by institutions, and Oriental Guoxin (300166) and Topway Information (002261) have been investigated by more than 56 institutions during the period, Hongbo (002229), Capital Online (300846), Century Huatong (002602), Sichuan Changhong (600839), 5 companies, including Shunwang Technology (300113), also won joint research from 10 or more institutions during the period; In addition, two companies, such as Tongfang (600100) and Tongniu Information (300895), have also been collectively investigated by 5 or more institutions during the period.
Computing power leasing is the rental of computing power, which is a mode of renting computing resources through cloud computing service providers. Users can rent servers or virtual machines for large-scale computing tasks based on their needs without having to own their own computing resources. Computing power leasing is a flexible, efficient, and low-cost computing service that is suitable for scenarios with various large-scale computing requirements.
Recently, the Shanghai Municipal Development and Reform Commission issued the "Several Policies and Measures for Shanghai to Increase Support for the Development of Private Investment", which proposed to use data storage and computing power resources of private investment by renting and other means.