Hangzhou Cogeneration Group Co Ltd

On July 17, Ai Ai Precision Seals opened at its daily limit-up, securing its fourth consecutive limit-up, closing at 44.92 yuan per share with a latest market cap of 5.87 billion yuan. Earlier, the company disclosed progress on a change of control: actual controllers Tu Mulin and Cai Ruimei, a married couple, plan to transfer their equity, and the controlling shareholder will change to Shanghai Yusheng Tongfeng Metal Materials Technology Co., Ltd., with the actual controller changing to Yuan Yuan. After the change, Shanghai Yusheng will hold 40% of Ai Ai Precision Seals. The power sector saw a sudden surge, with Huayin Electric Power hitting its limit-up, sealed by over 900,000 lots of buy orders. Leshan Electric Power and Shennandian A also hit their limit-ups, while Hangzhou Thermal Power and Xichang Electric Power rose in tandem. On the news front, the National Energy Administration released data showing that total electricity consumption in June reached 898.1 billion kilowatt-hours, up 3.7% year-on-year, with electricity use in charging and battery swap services and internet data services surging 57.1% and 41.4% respectively. The on-device hardware concept was active, with AI phones and glasses leading the gains. Mio Exhibition hit a 20% limit-up, and Daoming Optics rose for a second consecutive limit-up. The Cyberspace Administration of China released filing information for seven mobile on-device generative AI services, including Apple Intelligence and Huawei's Xiaoyi AI large model. The smart driving concept was also active, with Soling Shares hitting its limit-up. On the news front, a Huawei executive said that autonomous driving will see rapid iteration, with low-speed L4 pilot programs in urban areas starting in 2026.

On the morning of July 17, the three major A-share indexes fell collectively. The Shanghai Composite Index dropped 1.64 percent to 3,818.59 points, the Shenzhen Component Index fell 3.7 percent, the ChiNext Index declined 4.71 percent, and the STAR Composite Index tumbled over 5 percent. More than 4,300 stocks across the market declined. The power sector bucked the trend, with Huayin Electric hitting the daily limit up in a straight line, with over 660,000 lots locked in. Leshan Electric, Guiguan Electric, Shennan Electric A, Hangzhou Thermal Power, Lixin Energy, and Ganneng also hit their daily limit up. Jiawei New Energy surged nearly 16 percent. On the news front, many regions continue to experience high temperatures. Shanghai's power grid reached a record high in maximum electricity load, and several cities in Jiangsu also set new records. Data from the National Energy Administration showed that total electricity consumption in June was 898.1 billion kilowatt-hours, up 3.7 percent year-on-year. The technology sector slumped heavily, with CPO concept stocks plunging. Demingli hit the daily limit down for three consecutive days. Dongshan Precision, Yangtze Optical Fibre, and Accelink Technologies, each with a market value of over 100 billion yuan, also hit the daily limit down. Zhongji Innolight fell over 10 percent, and Tianfu Communication dropped over 11 percent. The pharmaceutical sector also tumbled, with CRO concept stocks Zhaoyan New Drug and Asymchem hitting the daily limit down, and WuXi AppTec falling over 6 percent.