A-shares storage chips collectively plunge, Baiwei Storage drops nearly 10%, commercial aerospace defies the trend and rises, Shenjian Shares hit four consecutive limit-ups

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Reporter | Li Yutong Internship reporter Lin Qianwei

Editor | Wu Guixing

On March 31, during the A-share market’s early session, stocks surged and then pulled back. All four major indices turned green in unison. The ChiNext index fell more than 2%, while the Shenzhen Component Index and the STAR Market Composite Index both fell more than 1%. Nearly 3,700 stocks across the market declined.

Source of image: 21 Finance client

In terms of sectors, the high-speed rail concept continued to show strength. Shenzhou High-Speed Railway achieved two consecutive daily limit-ups, and Jingying Heavy Industry hit the 20CM daily limit. The commercial space concept strengthened against the trend. Shenjian Co. Ltd. posted four consecutive daily limit-ups, and Zengsheng Technology touched the daily limit to set a historical high. Fujian local stocks were repeatedly active. Pingtan Development saw 3 daily limit-ups in 5 days, Min Dong Electric achieved a daily limit-up, and Minfa Aluminum Industry posted two consecutive daily limit-ups.

The auto complete-vehicle sector strengthened. Passenger vehicle stocks led the gains. Yutong Bus hit the daily limit, and Sunlight Shares touched the daily limit. Zhongtong Bus, King Long Motor, and Jiangling Motors were also among the top gainers. On the news front, Yutong Bus announced that in 2025, the company achieved operating revenue of 4,142,617.40 million yuan, up 11.31% year over year; total profit amounted to 651,869.46 million yuan, up 38.04% year over year.

The baijiu sector strengthened. Huangtai Liquor Industry rose more than 5%, while Kweichow Moutai and Jinzhongzi Liquor rose more than 2%. On the evening of March 30, Kweichow Moutai issued an announcement stating that, starting from March 31, 2026, the sales contract price of Feitian 53%vol 500ml Kweichow Moutai Liquor (2026) will be adjusted from 1,169 yuan per bottle to 1,269 yuan per bottle, and the company’s retail price within its self-operated system will be adjusted from 1,499 yuan per bottle to 1,539 yuan per bottle.

The banking sector was active. Bank of China and Agricultural Bank of China rose more than 3%. Huaxia Bank, Pudong Development Bank, Postal Savings Bank of China, China Construction Bank, and CITIC Bank also posted gains that were relatively strong.

On the downside, the storage chip concept saw a sharp drop. Baway Storage fell nearly 10%, Damingli and Juguang Technology fell more than 8%, while Changguang Huaxin and Zhaoyi Innovation both fell more than 7%. Source Ray Technology, Pu Ran Shares, and Jinke Energy were among the top decliners.

On the news front, according to a report by Caixin, since last week, spot prices for DDR5 memory modules have seen a noticeable decline. Specifically, for 32G DDR5 memory modules priced at around 3,000 yuan per stick last week, the per-unit quoted price this week saw declines ranging from 500 to 1,050 yuan.

In addition, coal, oil and gas, chemicals, agriculture, and computational power hardware all saw declines that were among the top.

In Hong Kong stocks, the Hang Seng Index fell 0.51%, and the Hang Seng Tech Index fell 0.94%.

Internet and network stocks and semiconductor stocks declined. BYD Electronic fell more than 5%, TianShu Zhixin fell more than 11%, and Zhaoyi Innovation fell more than 6%. Midea rose more than 6% against the trend. Earlier, Midea’s announcement said that in 2025 its net profit increased 14.03% year over year, and it plans to distribute 38 yuan per every 10 shares.

“Hong Kong AI audio chip’s first listed stock,” Fourier, was officially listed for trading today. As of the time of the report, its gain was more than 100%, and at one point during intraday trading it surged 117%.

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