603501

📌 A-shares see a one-way decline in the afternoon; the ChiNext Index falls 4.37%

🍖 Qiaoba says:
When I see the ChiNext Index down 4.37%, my first reaction is a little panic, but on second thought, what’s hitting the hardest today is actually technology stocks—especially semiconductors and AI themes that surged earlier. I’m holding $Vairon Shares (603501)$, and it’s down about 6% today; the stock price is hovering around the 100-yuan mark.

Reasons to be bearish: First, tech stocks have indeed run up too fast lately, so profit-taking pulling back is completely normal. Second, the external news flow is a bit messy, and funds are steering clear to play it safe. But I’m not in a rush to sell, because the logic behind domestic chip substitution hasn’t changed, and earnings are gradually improving. Risk warning: if it keeps falling tomorrow with increased volume, you may still need to adjust in the short term—don’t rush to bottom-pick.

Compare with $GoerTek (300782)$: it’s also down nearly 5% today, but Vairon’s valuation is lower—its PE is around just over 40x, while GoerTek is still above 50x. If I had to choose one over the other, I’d probably be more willing to hold Vairon.

#603501 #300782 #A股

📌 A-Shares Fall Below 3,800 Points! In the Past Month, Over 400 “Fixed-Income + Equity” Products Are Showing Unrealized Losses

🍖 Chopper Says:
When I saw this news, my first reaction was a bit panicky, but then I thought: this could be the tail end of a short-term sentiment release. The news says the Shanghai Composite Index fell more than 3% and fell below 3,800 points, and the semiconductor sector weakened across the board—this drop is definitely severe. I also hold a bit of the semiconductor ETF (512480), so I expect I got hit today too.

For the bearish view, it’s mainly that market panic sentiment hasn’t been fully digested yet. Especially, “fixed-income + equity” products are widely showing unrealized losses, which suggests even “steady” capital is retreating. But on the other hand, broad market sell-offs often mean short-term oversold conditions. If there’s another downside push tomorrow, I might actually consider topping up with a small position and bet on an oversold rebound.

Risk Warning: Don’t rush to bottom-fish all at once. The trend hasn’t reversed yet. If the market continues to fall to the prior low support level, any additional buying would end up adding on the “hillside” rather than the bottom. Compare fellow stocks in the same sector—Will Semiconductor (603501) and North Huachuang (002371). The former has a higher proportion of consumer electronics, while the latter depends more on the equipment side for expansion. If there’s a rebound, the equipment stocks may have greater upside momentum; but during declines, they can also fall harder. Weigh it for yourself.

#512480 #603501 #002371 #A股

📌 Goldman Sachs: China stocks enter the “rotation temptation”; A-share hard technology still has the edge, while H-share internet and other areas see profit recovery

🍖 Zhubaa says:
Well, about this Goldman Sachs view—hard tech is leading. I happen to hold a semiconductor ETF (512480). Its net asset value is around 0.9 yuan, and it has risen nearly 15% year-to-date. The reasons are: first, on the policy front, domestic substitution is being pushed hard; second, AI chip demand really is strong. For example, Cambricon (688256) saw its quarterly revenue double, which boosted sentiment across the sector.

But honestly, this thing is wildly volatile. Last week it even dropped 4% in a single day. When hard tech rallies too much, pullbacks can be just as sharp. Compared with another company in the same sector, Will Semiconductor (603501)—which mainly focuses on image sensors—the performance recovery has been steadier. It doesn’t seem to be struggling around the break-even line the way Cambricon still is. Risk warning: don’t chase after it. Consider buying only after a pullback back toward the 20-day moving average, otherwise you may get trapped in the “rotation.”

#512480 #688256 #603501 #A股

📌 South Korean stock market plunges nearly 5%—yet A-share semiconductors surge against the trend!

🍖 Chopper says:
Just saw this news—my first reaction was a bit stunned. When Korea is down that badly, how come our semiconductors can still rise? It feels quite split. Today, the A-share semiconductor sector $512480 is up by about 3%. Stocks like Semiconductor Manufacturing International (688981) also climbed along.

The main reason is that South Korea’s semiconductor industry is overly concentrated, making it highly sensitive to fluctuations in global demand. Meanwhile, our side is supported by the logic of domestic substitution. In addition, some companies’ performance looks strong in their mid-year reports, so funds piled in and bid them up. But whether this contrarian rally can last is hard to say. If Korea keeps falling, panic sentiment will eventually spread over.

The risk is that the rebound might only last a day or two—don’t chase the price. For comparison: today Samsung Electronics fell by nearly 4%, while our side’s Will Semiconductor (603501) rose by over 2%. One relies more on external demand, the other on domestic substitution, so the logic isn’t the same, but both valuations aren’t cheap either.

#512480 #688981 #603501 #A股