Today, the Shanghai Composite Index returned to 3,900 points! Meituan and Pop Mart attract attention.

If you want to trade stocks, just rely on the Golden Qilin analyst research reports—authoritative, professional, timely, and comprehensive—to help you uncover high-potential theme opportunities!

Today, A-shares continued to rebound. The Shanghai Composite Index returned to the 3,900-point level. As of the close, the Shanghai Composite Index rose 1.3%, to 3,931.84 points; the Shenzhen Component Index rose 1.95%, and the ChiNext Index rose 2.01%.

Today, the oil and gas exploration and production sector fell, while the other sectors saw gains to varying degrees. Among them, sectors including the computing power industry chain, non-ferrous metals, football, and airport shipping led in terms of gains.

In Hong Kong stocks, the afternoon trading move of Meituan and Pop Mart has drawn market attention. The former surged soon after opening in the afternoon, while the latter dropped straight after opening in the afternoon. On March 25, Pop Mart International Group released its 2025 financial report. In 2025, Pop Mart’s revenue was 37.12 billion yuan, up 184.7% year over year; adjusted net profit was 13.08 billion yuan, up 284.5% year over year.

Within the computing power industry chain, sectors such as optical fibers and optical modules led the gains, and individual stocks including Changguang Huaxin and YOFC also jumped sharply.

The strengthening of the computing power industry chain is related to the GTC (NVIDIA GPU Technology Conference) and OFC (Optical Fiber Communication Conference and Exhibition) held not long ago. Institutions stated that this year’s GTC and OFC point to three core judgments together: on the demand side, the optical communications industry’s outlook remains optimistic before 2030, driven by both scale-up and scale-out; on the technology side, optical and copper advance in parallel, with multiple technology routes—CPO, NPO, and XPO—coexisting long term; and on the industry side, the pattern of “the strong get stronger” among leading companies is accelerating.

Institutions suggest focusing on four main themes: first, optical modules and CPO. For the 1.6T optical modules, full-year shipments in 2026 are expected to reach 8 million to 20 million units, achieving growth of 1.5x to 2x; in 2027, shipments are expected to continue multiplying.

二是光纤光缆。行业供需格局持续优化，价格稳步上行，随着北美数据中心份额提升，相关企业有望获得显著的利润弹性。

三是光芯片与新材料。磷化铟芯片需求进入爆发期，MicroLED光源产业化进程加速，相关材料与技术环节成长空间明确。

四是液冷与散热。英伟达Rubin平台明确采用100%液冷方案，确立了液冷在下一代数据中心的主流地位，散热环节单机价值量持续提升。

The power sector continues to surge, with multiple stocks such as MinMing Energy and ShaoNeng Co., Ltd. hitting their daily price limits. The football concept has been repeatedly active recently: Shua Sports and Sinopharm Sports and Industry hit their daily price limits today. On the news front, in April, football and basketball leagues across multiple regions including Jiangsu, Guangdong, and Fujian are rolling out in sequence.

		Sina Statement: This news is转载 from Sina’s partner media. Sina.com publishes this article for the purpose of transmitting more information, and does not mean that Sina agrees with its viewpoints or confirms the described facts. The article content is for reference only and does not constitute investment advice. Investors act at their own risk.

A massive amount of information and precise analysis—on the Sina Finance APP

责任编辑：刘万里 SF014