March 25: Iran Crisis, Power, Zhang Xuefeng's Passing, Token Economy and Other Concept Stocks Review

[Stock Forum]

1. Selected overnight news highlights.

2. Iran crisis: Trump publicly “shifts blame” to U.S. Defense Secretary, claiming he was the first to propose military action against Iran. Israel worries Trump may compromise to declare victory. Chinese shipping companies begin using Iran’s maritime “safe corridor.” Data shows Saudi Yanbu port’s crude oil exports rose to nearly 4 million barrels per day in the latest week, up from about 1 million barrels per day before Iran’s war. Latest evening news: EU cancels proposed Russian oil ban scheduled to take effect on April 15. The Philippines declares a national energy emergency. India faces a gas shortage, with auto industry inventories running low. South Korea will implement official vehicle restrictions, with the president calling for nationwide energy conservation.
   Concept stocks: China Man Petroleum, Intercontinental Oil & Gas, Shouhua Gas, Tianhao Energy, Shandong Molong, CNOOC Services, Petrochemical Oil Services, Jinhong Gas, Jereh Group, COSCO Shipping Energy, China Merchants Steamship, China Merchants NOL, COSCO Shipping Tanker, DJI Drone, Aerospace Rainbow, etc.

3. Power: During the 14th Five-Year Plan, State Grid will start construction of pumped storage capacity exceeding 30 million kW. Recently, Huadian-related stocks have performed well; yesterday, Huaneng was heavily inspected, and after emphasizing a strong energy nation, today, Huaneng group companies also hit daily limit.
   Concept stocks: Huadian Liaoning, ShaoNeng, Huadian Energy, GCL New Energy, Jinkai New Energy, Huaneng Hydropower, Guodian NARI, Southern Power Grid Digital, Sifang Co., State Grid Xintong, Zhongheng Electric, Tongli Risheng, Ankao Smart Electric, Yunnan Energy Holdings, TBEA, Inner Mongolia Huadian, First Navigation New Energy, HeWang Electric, Oriental Electronic, China Xidian, Siyuan Electric.

4. Token economy: Authoritative central media are endorsing it, and the Chinese name for Token has been set: “词元” (word element). Amid the AI boom, the concept of Token is gradually gaining prominence—it’s the evaluation standard for large model call volume rankings and the billing unit for model vendors’ sales packages. At the China Development High-Level Forum 2026, Liu Liehong, Director of the National Data Bureau, stated that “词元” not only anchors value in the intelligent era but also serves as a “settlement unit” connecting technological supply and commercial demand, providing quantifiable possibilities for business model implementation; the official translation is “word element.”
   Concept stocks: Meiliyun, Halo New Network, Data Port, Shunwang Technology, Zhongbei Communications, Chinese Online, Aofei Data, YunSai ZhiLian, Huasheng Tiancheng, Kunlun Wanyou, Runze Technology, Hongbo Shares, Zhongji Xuchuang, Huagong Technology, HuQin Technology, Dawei Technology, Jiecheng Shares, Southern Power Grid Energy Storage, Langxin Technology, etc.

5. Passing of Zhang Xuefeng: On March 24, NIO announced his death. Zhang Xuefeng suffered sudden cardiac death; despite full rescue efforts, he passed away at 15:50 on March 24, 2026, in Suzhou. Mr. Zhang came from a humble background, dedicated his life to students, deeply involved in education, always committed to funding and supporting students’ growth, practicing educational ideals with sincerity, and inspiring others with his virtuous conduct. The news of his early death has brought health checks, AED promotion, and emergency equipment into public focus, possibly stimulating life insurance business.
   Concept stocks: Mindray Medical, Yuwell Medical, Weiweis, Libang Instruments, Lepu Medical, Meinian Health, China Public Education, New Oriental, ChuanZhi Education, Xingdong Education, Xueda Education, Kede Education, Kaiyuan Education, China Life, Tianmao Group, etc.

6. Commercial space: State-owned Assets Supervision and Administration Commission supports central enterprises in fields like new-generation information technology and satellite internet to help high-quality development of Xiong’an New Area. The “space refueling station” Yuxing No. 06 satellite completed in-orbit testing.
   Concept stocks: China Aerospace Development, Western Materials, Electric Power Blue Sky, Leike Defense, Tefa Information, Taijia Shares, FiberHome Communications, Zhongtian Rocket, Jiangshun Technology, Xinwei Communications, Yongxin Zhicheng, Beixin Yuan, Huagong Technology, Woge Optoelectronics, etc.

7. Hydrogen energy: National Energy Administration includes hydrogen energy and green fuels as key focus areas for 2026 energy industry standards. The first major global hydrogen industry event after the 14th Five-Year Plan—2026 China Hydrogen Energy Expo and International Hydrogen Conference (CIHC 2026)—will be held from March 25 to 27 at the Beijing National Convention Center.
   Concept stocks: Baofeng Energy, Huaguang Huaneng, Meijin Energy, Yihuatong, Weichai Power, Xiongtan Shares, Jingcheng Shares, China National Materials, Houpu Shares, Zhiyuan New Energy, Snowman Shares, China Energy Construction, Huadian Heavy Industry, etc.

8. Storage chips: SK Hynix reportedly plans to go public in the U.S., raising up to $10 billion to boost AI infrastructure. Leading storage stock in A-shares, Baiwei Storage, signed a procurement contract exceeding 10 billion yuan, over 50% of the company’s recent audited annual revenue and total assets.
   Concept stocks: Baiwei Storage, Beijing Junzheng, Shannon Chip, Demingli, GigaDevice, Dawei Shares, North Huachuang, Lankei Technology, Huahong Company, Zhongwei Company, Shennan Circuit, etc.

9. Coatings: CCTV reports that prices of petroleum derivatives have surged, prompting coating companies to raise prices collectively. (Sankeshu, Yashi Chuangneng)

10. Naphtha: South Korea’s government is expected to implement export controls on naphtha this week. China is a net importer of naphtha, mainly through general trade, accounting for 86.5% of total imports; bonded warehouses account for 13.5%. Major imports come from Russia, UAE, and South Korea, making up about 63.1% of total imports. (Rongsheng Petrochemical, Hengli Petrochemical)

11. Data elements: National Data Bureau: will accelerate establishing a unified national data property rights registration system and promptly introduce policies for building a nationwide integrated data market. (Yihua Lu, Shen Sanda A)

12. Apple foldable phone: Blogger Digital Focus points out that iPhone Fold will become a highly valuable financial product, with an estimated starting price of 14,999 yuan, making it the most expensive iPhone model in Apple history.

13. Nuclear fusion: OpenAI promotes large-scale nuclear fusion power cooperation, ushering in a golden era for the industry. The “artificial sun” core components have been delivered in Sichuan, marking further progress in China’s controllable nuclear fusion technology. (Lensi Technology, Yian Technology)

14. Faraday rotator: On March 24, during trading, G RANG PT, a supplier of Faraday rotators affected by China’s rare earth export controls, announced production cuts (main source for domestic optical module companies). (Fuj晶 Technology, Optical Electronics)

15. Gas turbines: On March 24, at the U.S. Bank Global Industrial Conference, GEV disclosed that due to strong AIDC demand, orders are booked into 2030+, with some clients locking in capacity for 2031. The price per kW of gas turbines (including EPC costs) has increased from $2,500 to $3,000, a rise of about 20%. (Dongfang Electric, Yingliu Shares)

16. U.S. stock market: The three major indices all declined, with software stocks leading the decline; sharp fluctuations in international oil prices wiped out previous gains.

II. Selected new concept stocks.

1. Green electricity (GCL Integration, Taida Shares)

2. Xiong’an New Area (Zhonggong International, Guolin Technology)

3. Commercial space (Zuxing New Materials)

4. Liquid-cooled servers (Kaitian Gas)

5. Nuclear power (Gudeo Materials)

6. Computing power leasing (Zhongjia Bochuang)

7. Mergers and acquisitions (Zhongnan Culture)

8. Artificial intelligence (Huaheng Biology)