6G prototype to be showcased, energy-saving retrofits broaden, A-shares rebound on higher turnover

What does the 6G prototype showcase mean?

Qualcomm will publicly showcase for the first time at the China International Import Expo a 6G terminal prototype compliant with the latest 3GPP definition. The device has been used for technology testing and validation with partners including China Mobile and ZTE.
China Securities believes that, as 5G-A enters commercial use, 6G standardization and key technology validation are accelerating. The first core 6G specifications could be completed in 3GPP Release 21, with large-scale network construction starting as early as 2029 and commercial use around 2030.
China has completed the first phase of 6G technology trials and begun the second phase of system validation. The brokerage is watching areas including satellite communications, radio-frequency components, test instruments and core network equipment, but the industry as a whole remains in an early positioning stage.

Five government departments have proposed energy-saving and carbon-reduction upgrades to infrastructure including computing facilities, communications base stations and equipment rooms, while also covering areas such as key industrial sectors, existing buildings and transport.
The plan calls for energy consumption per unit of value added at industrial enterprises above the designated size to fall by more than 10% by 2030 from 2025, and for energy-saving and carbon-reduction upgrades in key industries to save more than 150 million tonnes of standard coal equivalent.
Caitong Securities believes industrial carbon management will accelerate its shift from dual controls on energy consumption to dual controls on carbon emissions. It is watching energy-saving equipment, carbon measurement and monitoring, digital energy and carbon management, and supporting facilities for zero-carbon industrial parks and zero-carbon computing.

Combined turnover on the two exchanges returned above 2 trillion yuan, up 334.3 billion yuan from the previous trading day; the number of companies with turnover exceeding 1 billion yuan rose by 80 to 441.
Technology growth stocks led the gains. Among companies with turnover exceeding 1 billion yuan, 177, 125 and 106 were associated with chips, robotics and AI respectively, up by 42, 28 and 18 from the previous trading day; banking, baijiu and food stocks were relatively weak.
Cailian Press believes that optimization of the relending policy for share buybacks and stake increases, a recovery from oversold conditions and improving overseas technology sentiment jointly drove the rebound; its sustainability depends on whether trading volume can hold up.

The number of companies hitting a one-year high on 4 November increased by 4 from the previous trading day to 27; based on the day's highest prices, the only company to reach an all-time high was AI short-drama stock Huashi Technology.
Huafu Securities believes video foundation models reduce production costs and improve efficiency on the supply side while opening up room for incremental market growth on the demand side. It is therefore optimistic about platform, tool and overseas expansion opportunities arising from AI animated dramas.