"National Team" strikes again! A tenfold increase in one year! The "secret" behind Changfei Optical Fiber's stock reaching a new high!

Questioning AI · What Investment Logic Does the National Team’s Accumulation Behavior Imply?

Text | Shui’an

Affected by the well-known “Black Swan,” A-shares have been under continuous pressure and differentiation since March. “Poor performance, not my fault, the market is bad,” some have already used this kind of A-Qing spirit to reduce psychological pressure and numb themselves, but in the long run, to “live better,” it’s better to improve one’s own strategies, reflect on position management, execution, and cognition rather than constantly blaming the market.

Is there really no opportunity in a volatile market? The answer is obviously no. “Gold” often shines brightest in the dirtiest mud; standing with the right team and choosing the right leaders are the weapons to resist market turbulence. Although recent market differentiation persists, there are still many stocks like Changfei Fiber Optic, Hengtong Optoelectronics, Guangku Technology, Farsight, Wanbangde, and others reaching new highs. On April 2, Changfei Fiber Optic temporarily hit a 10cm limit-up, continuing to set new historical highs, and since its low point, its stock price has surged over 10 times…

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“10-bagger” Changfei Fiber Optic continues to hit new highs

The new developments in the Middle East conflict triggered the stock indices to come under pressure again. Reactions in North American, Asian, and European markets to this event have also shown some differences recently. Today’s A-share market is a further continuation of yesterday’s weakness. On April 1, the index opened high and then declined; on April 2, it opened lower and fell further, with the ChiNext Index, STAR Market Composite Index, and others dropping more than 2%.

Index adjustment, sector differentiation, and individual stocks under pressure, but funds are still entering the market—either due to the turning point caused by the Middle East conflict, or optimism about long-term opportunities in certain industry tracks, or judgments that some stocks have been unfairly punished. In short, excess market opportunities have never been absent. For example, on April 2, innovative drugs continued their recent strength, with stocks like San Sheng Guojian, Yibai Pharmaceutical (two “10cm” limit-ups), Jinyao Pharmaceutical (five “10cm” limit-ups), and others rising strongly.

Looking at a longer cycle, here is a set of data. Since March, the overall market has been under continuous pressure, but a group of stocks have outperformed the market. Using the CSI 300 as a reference, which has fallen 4.92% since March (up to April 2 close), among over 5,000 stocks in the All A-share market, more than 1,400 stocks have gained more than that amount.

Additionally, since March, over 800 stocks have risen, with more than 310 stocks increasing by over 10%. Gains of over 80% have been seen in Huadian Liaoning Energy, Farsight, Minohua, and others, while Changfei Fiber Optic, Hite Biological, Demingli, and others have gained over 40%. Looking at a longer cycle, some targets have entered a long-term bull market, continuing to rise since their lows on April 9, 2025. For example, Changfei Fiber Optic’s gain has reached 10 times, and many stocks including Changfei Fiber Optic have recently hit new all-time highs (see Table 1).

Leading the charge are the computing power, optical communication/fiber optic sectors, which have also been major highlights recently. On April 2, Changfei Fiber Optic’s stock price once hit a 10cm limit-up, and stocks like Changyingtong, Huamai Technology (“10cm” limit-up), Huiyuan Communications (“10cm” limit-up), Guangku Technology, Hengtong Optoelectronics all surged. Among them, Guangku Technology and Hengtong Optoelectronics also hit new highs today.

Friends who frequently follow this account should be very familiar with Bian Huizong, who has long tracked and studied investment opportunities in computing power and optical communication. The strong stocks mentioned above are all flagship cases that Bian Huizong included in research long ago, when their stock prices were still at absolute lows, such as Changfei Fiber Optic (May 28, 2025; December 10, 2025; see appendix), Guangku Technology (August 15, 2025), etc.

Important Events in April

Wanbangde and others defy the trend and rise

Last April, A-shares were heavily affected by trade frictions. A year later, this April, the market was again dragged down by the Middle East conflict. But historically, any negative impact on the market is temporary. So, even if disturbances have already occurred, they shouldn’t be a long-term reason for pessimism. From a time window perspective, April features many important logical lines or events that could influence the market and industry, possibly creating a new round of opportunities.

First, the performance line—April is the month when A-shares’ 2025 annual reports and 2026 Q1 reports are densely released. After this month, investors will have to wait another year, so performance will become a core factor for capital to increase holdings. Many recent strong stocks and bull stocks have logic based on exceeding earnings expectations. For example, Tongda股份, whose 2025 annual report released on March 31 shows a net profit of 161 million yuan, up 533.17% year-over-year, and its stock has recently hit three “10cm” limit-ups. Another example is Wanbangde, which disclosed a net profit forecast for Q1 2026 with a 985.4% YoY increase; since March 24, its stock has risen for 8 consecutive days, with a total increase of over 90% (see Figure 2).

Besides Tongda股份 and Wanbangde, many stocks that have disclosed 2025 annual reports with leading growth, and those with Q1 2026 forecasts of increase, are listed in Table 2.

Apart from the performance line, April also hosts many other significant events that could impact related industries, involving AI hardware, computing power, semiconductors, new energy, commercial aerospace, humanoid robots, and more, as shown in Table 3.

Although the markets in March and early April were influenced by external factors, the core logic of the A-shares market largely reflects its own industry upgrade and technological iteration. This is both an incremental opportunity driven by industry upgrading and a growth opportunity created by technological iteration. The market’s stable fundamentals give long-term capital more confidence. According to the latest disclosed holdings of listed companies’ shareholders, many targets have seen increased positions from the “national team” and important institutions.

For example, according to the latest shareholder holdings disclosed by Zijin Mining on March 20, Guoxin Investment Co., Ltd. increased its holdings by 38.1475 million shares to 253 million shares. Additionally, Guoxin Investment also increased holdings in China Shenhua, as disclosed in the shareholder holdings on March 16, with an increase of 17.5355 million shares to 109 million shares. Furthermore, the latest top ten circulating shareholders of Changan Automobile and Oriental Tantalum disclosed on March 2 and March 27 show that Guoxin Investment appeared as a new entrant, holding 47.3906 million shares and 6.29M shares respectively.

(The stocks mentioned in the article are for illustrative analysis only and do not constitute buy or sell recommendations.)