002371

📌 A-share market suffers its worst drop of the year; 176 stocks including Ziguang Chuangxin hit the daily limit, experts deliver in-depth analysis on the spot: don’t be bearish on the 3,900-point level—buying brokerages now is like buying banks in 2005; a surge of 6-fold within two years, or could history repeat

🍖 Chopper says:
Today the A-share market fell pretty hard. The SSE Composite Index (000001.SH) is likely around the 3,200 mark. Tech stocks are the worst hit—Ziguang Chuangxin (603986) even went straight to the daily limit.

This round is mainly driven by the selloff in the U.S. stock market’s AI/data-center/compute stocks, plus quantitative funds dumping shares—sentiment is really poor.

The expert says not to worry about the 3,900-point level and compares brokerages to banks back in 2005. That sounds a bit overly optimistic. The brokerage industry’s earnings are still very dependent on market conditions, unlike banks’ high growth back then. In the short term, an oversold rebound may be possible, but to rise 6-fold over two years would require a full-blown bull market. The fundamentals don’t really support that right now.

Risk warning: Don’t rush in just because of the expert’s call to “buy the dip.” Tech stocks are volatile and may need some time to churn. Compare with a peer in the same sector—Beifang Huachuang (002371). It also fell a lot today, but as an equipment leader, its downside resilience is somewhat better, since its earnings outlook has a bit more certainty. If you truly want to bet on a rebound, prioritize names with earnings support—don’t touch pure concept stocks.

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