Latest Direction

Bottom-fishing directions:

1. Storage chip prices may rise more than expected, entering earnings release period soon. Modules have the greatest earnings elasticity; after adjustment, attention can be paid.

2. Computing power
   The fundamentals of the computing power chain are strong. Optical modules and PCBs are sectors with high earnings certainty. The medium-term logic remains unchanged.

3. Energy storage
   Energy storage and batteries benefit from the rising European electricity prices driven by natural gas price increases. Many countries have introduced policies supporting household energy storage for energy security, similar to the logic during the Russia-Ukraine conflict. Although the situation has eased and oil and gas prices have adjusted, Europe’s development of household storage is policy-supported, not short-term logic. Adjustments present opportunities.

4. Wind power
   Starting April 1, the UK will impose zero tariffs on wind power components. Other European countries may follow with policies. This mainly reflects Europe’s concern for energy security and encouragement of new energy development. Focus on related stocks exporting to Europe.

5. Gas turbines
   Gas turbines have recently fallen sharply, mainly due to prior gains and the impact of Iran conflict causing natural gas prices to rise, which is a negative factor. The sector has significant growth potential in the future; consider布局 during oversold conditions.

6. Green electricity
   “Computing and electricity synergy” enhances the profitability potential of green energy companies. The National Data Bureau explicitly states that new computing facilities must use at least 80% green electricity. Green energy companies can leverage computing power output. Recently, some small-cap green energy companies have surged; focus on leading green energy enterprises, which have relatively low large-cap positions.

7. Power grid equipment
   The grid adjustment has been significant. The logic of overseas and domestic grid investments remains unchanged; appropriate attention can be given.

8. Non-ferrous metals and crude oil
   Non-ferrous metals are rising. Oversold rebound.