A-share review | GEM index fell 1.10% to cultivate diamonds, MLCC led the way
The Zhitong Finance App learned that on September 14, the three major A-share indices opened lower. At one point during the intraday period, they became popular across the board, then surged higher and fell. The collective closing of the session closed slightly. The yellow and white lines were clearly divided, and the trend of small and medium capitalization stocks was stronger than weight. The Shanghai Index closed at 3885.33 points, down 0.07%; the Shenzhen Stock Exchange Index closed at 13384.57 points, down 0.64%; the GEM Index closed at 3285.58 points, down 1.10%; the Science and Technology Innovation 50 Index closed at 1528.27 points, down 1.62%; and the Beijing Stock Exchange 50 index closed at 1021.90 points, down 0.15%. The turnover of the Shanghai and Shenzhen markets was 1629.176 billion yuan, down 342,723 billion yuan from the previous trading day. The Shanghai and Shenzhen markets rose 3,126, fell 2,224, and closed 212. Of these, 57 were up and down, and 18 were down, accounting for about 56% of the rising individual stocks. In terms of sectors, concept sectors such as cultivating diamonds, CRO, MLCC, medical services, PCB, and cybersecurity registered the highest gains; sectors such as planting and forestry, tourism and hospitality, military equipment, coal, and diversified finance registered the highest declines.
driving factors
The index performance on the same day was not consistent with the distribution of gains and losses of individual stocks. The Shanghai Index and the Shenzhen Stock Exchange Index closed down 0.07% and 0.64% respectively, while the GEM Index and Science Innovation 50 closed down 1.10% and 1.62% respectively, while the Shanghai and Shenzhen markets rose by 3126 individual stocks, accounting for about 56%; the turnover of the two markets was 1629.176 billion yuan, a decrease of 342,723 billion yuan from the previous trading day, and volume capacity shrank markedly. In terms of news, the direction of cultivating diamonds is driven by the opinions of Huaxi Securities, Fangzheng Securities and other institutions on the thermal conductivity advantages of diamond and the accelerated industrialization of diamond copper in the AI chip cooling process. The MLCC direction is affected by supply contraction expectations brought about by Murata Manufacturing's announcement to discontinue production of some materials in fiscal 2026, and the pharmaceutical direction is driven by CITIC Securities's research opinions on China's CDMO industry entering an era of “engineer dividends” and “leading innovation dividends”. The concept of cybersecurity is driven by Anthropic CEO's appeal to slow down cutting-edge development and multiple overseas AI model companies The news that the person in charge expressed support had an impact; furthermore, the automotive sector rebounded on the same day, and Ankai Bus, Zotye, and Haima Motors rose and stopped.
Popular sector aspects
1. [Cultivating Diamonds] The cultivating diamond concept closed up 4.77%, leading the concept sector. The Yellow River Cyclone and Hengsheng Energy rose and stopped, Inno Laser rose more than 15%, Huifeng Diamond rose more than 10%, and Power Diamond and Sifangda followed suit. In terms of catalysis, the Huaxi Securities Research Report indicates that the thermal conductivity of diamond is more than 5 times that of copper, and is an important upgrade direction for AI chip cooling. The compound annual growth rate of neutral caliber in the global diamond cooling market for diamond cooling is expected to be about 128% from 2026 to 2030. The Financial Services Association quoted institutional research reports that the compound growth rate of the global AI chip diamond copper market is expected to reach 237% from 2025 to 2029, and the market space is expected to expand to 6.5 billion US dollars. In addition, regular adjustments to the Beijing Stock Exchange 50 Index sample stock took effect on September 14, and Huifeng Diamonds were transferred.
2. [MLCC] The MLCC concept was promoted on the same day. Double Star New Materials and Kangda New Materials went up and down, while Fenghua Hi-Tech, Sinocera Materials, Yunzuka Technology, and Chunguang Group followed suit. In terms of catalysis, MLCC leader Murata Manufacturing issued an official notice announcing the launch of product line optimization in the 2026 fiscal year and will discontinue production of some parts in the consumer-grade conventional series and automotive specification series, covering GRM, GRJ, GXM, GXT, GCM, GCJ, GCG and ZRA series. Market analysis believes that the intention is to free up production capacity and prioritize high-value-added products for AI servers. Also, according to the First Financial Report, in early September, Samsung Electric signed an AI server MLCC supply contract worth 1.07 trillion won (approximately RMB 5.333 billion) with a major global company.
3. [Pharmaceutical/CRO] The pharmaceutical sector collectively strengthened. The medical service sector closed up 4.65%, ranking first in the industry sector. CRO concept rose 4.89%, Wanbang Pharmaceutical and Offshore Protein both rose and stopped at 20CM, and Yakang Biology, Pharmaceutical Technology, Gloria Ying, and Yiqiao Shenzhou followed suit. In terms of catalysis, the CITIC Securities Research Report said that as the requirements for process development and trial design capabilities of new major drugs, new molecules, and new technologies increase, China's CDMO industry is expected to enter the dual-core driving era of “engineer dividends” and “leading innovation dividends” by accumulating early pipelines in the field of global biomedical innovation technology. Furthermore, the 2026 World Lung Cancer Conference will be held in Seoul, South Korea from September 12 to 15, and many domestic pharmaceutical companies will focus on disclosing clinical data at the conference.
Adjust the section
The planting industry and forestry sector pulled back on the same day, with Dunhuang seed industry, Xinnong Development, Yasheng Group, and COFCO Technology falling to a standstill; the tourism and hotel sector opened low, and Yunnan tourism and cultural tourism fell to a standstill; the military equipment direction weakened, and the military restructuring concept pulled back. The construction industry closed down 7.66%, Guorui Technology closed down 6.38%, marine equipment II fell 1.99%, and the defense and military industry fell 1.70%. Among them, the ground armaments sector closed up 4.44% on September 11, leading the entire market. Diversified financial sectors also pulled back slightly.