This week has witnessed notable momentum in the A-share market, alongside a comforting sense of stability as trading volumes surged significantly. This resurgence sees the ChiNext index reclaiming the critical support level at 2200 points, marking a new yearly high. The Shanghai and Shenzhen 300 Index has also crossed the 3900-point threshold, while the Northern Stock Exchange 50 has rebounded to above 1200 points. The week culminated in a trading volume surpassing 8.7 trillion yuan, the highest level seen in the past two months.

Adding to this vigorous market activity, leverage funds have actively increased their positions, with net purchases from margin financing exceeding 31.6 billion yuan, accumulating to more than 77.1 billion yuan since the Spring Festival. The electronic sector has emerged as the frontrunner for these leveraged investments, attracting over 7.2 billion yuan in net buying throughout the week. Following closely, the computer industry received net inflows exceeding 6.6 billion yuan, while industries such as mechanical equipment, electrical equipment, and media also garnered over 2 billion yuan each. Conversely, the banking sector saw net sales surpassing 1 billion yuan, while the construction materials, agriculture, forestry, and fishery, as well as food and beverage sectors faced slight net sell-offs.

In a broader sense, the primary capital flows have centered on the computer sector, which has attracted cumulative net inflows exceeding 63.9 billion yuan for the week. The media industry also saw substantial support, with a net inflow of more than 24.6 billion yuan. Other sectors like communications and biomedicine similarly enjoyed net inflows exceeding 10 billion yuan. However, the coal, non-ferrous metals, and electronics sectors witnessed net outflows exceeding 10 billion yuan, along with smaller withdrawals from the oil, public utilities, and defense industries.

The market's focus also gravitated towards specific hot themes. The DeepSeek concept continued its impressive upward trend, boasting a staggering index increase of 15.54%, with a cumulative rise of nearly 50% since the Spring Festival. Star stocks in this segment have emerged, with companies like Mengwang Technology and Hangang Co. achieving eight consecutive days of price limits, while Tuo Wei Information and Hangjin Technology have seen similar remarkable performances over the past nine days. Other firms such as Juran Zhijia and Weipai Ge have also joined the ranks of stocks delivering consistent price limit performances.

A remarkable trend has been observed within the DeepSeek concept, where enthusiasm has begun to permeate both upstream and downstream industries. The upstream data industry has outperformed, frequently hitting historical peaks in segments concerning data elements, big data, data centers, and the East Data West Calculation initiative. Noteworthy companies like Cloud Creation Data, Zhongcheng Technology, Yunsai Intelligent, and Shenzhou Digital have all achieved historic highs within this framework (where adjustments for retroactive splits remain intact).

In recent discussions, Liu Liehong, the director of the National Data Bureau, articulated a commitment to promoting the market-oriented reform of data elements, pinpointing essential hurdles impeding the monetization and marketization of data elements. Experts assert that the potential within the data industry remains colossal. Advancing related reforms will inevitably inject renewed vigor into the growth of a new type of productive force.

Moreover, the National Industrial and Information Security Development Research Center anticipates that, at a compound annual growth rate of 20%, the market scale for data elements will likely surpass 174.9 billion yuan by 2025. Over the entire "14th Five-Year Plan" period, China's circulation market for data elements is expected to reach a staggering 500 billion to 1 trillion yuan.

Within this context, Ping An Securities posits that the data element industry is entering a new phase of development. The inclusion of data assets into balance sheets will enhance the transformation of data element value, accelerating the cultivation of "data element enterprises" and expediting the digital transformation process across various sectors. The outlook is bright for China's emerging "data element enterprises."

Examining the downstream applications of the DeepSeek concept, the AI healthcare sector is demonstrating a remarkable ascent in performance, with the relevant index skyrocketing over 11% on February 14. Sectors such as family medicine, healthcare services, smart medical technologies, and medical devices have also enjoyed substantial upward movement.

In an announcement by Huawei's data storage WeChat account, it was revealed that a new pathological model developed using Huawei's DCS AI solutions is set to be launched. This unveiling will take place at the "2025 Medical AI and Precision Treatment Development Forum" scheduled for February 18.

Hong Kong's stock market has reflected this strengthening in AI healthcare concepts as well, with Alibaba Health soaring over 54% in a week. Companies like Yidu Tech, Weiya Biology, Ping An Good Doctor, and Meis Health followed suit, significantly contributing to a robust surge in both the Hang Seng Index and Hang Seng Technology Index.

On another front, the record-breaking box office success of "Nezha 2" has propelled the film and cinema sector, leading to an impressive 40% price increase throughout the week — a remarkable height unseen since August 2018.

However, as of February 14, stocks such as Huayi Brothers, Jinyi Film, and Shanghai Film experienced significant corrections, with the film and cinema sector primarily performing under the spotlight of Light Media's exceptional growth.

Light Media sustained a 20% price limit across each trading day this week, accumulating an extraordinary increase exceeding 264% since the Spring Festival, with the stock price hitting unprecedented heights. The total market capitalization soared from 27.9 billion yuan before the Spring Festival to an astounding 101.9 billion yuan.

Following the surpassing of 10 billion yuan in total box office receipts on February 13, "Nezha 2" continued its upward trajectory steadily. Zhe Shang Securities predicted that if the total box office reached 10 billion yuan, Light Media could see an additional revenue increment of approximately 2.76 billion yuan. Considering some previously unallocated costs and promotional expenses, it is anticipated that Light Media's profits could exceed 1.7 billion yuan by the first quarter of 2025.

Yet, the latest trades from February 14 concerning Light Media reveal a complex picture — the top five buying seats are entirely from Dongfang Caifu's brokerage, and the top five selling positions involved a significant net sell-off of over 180 million yuan from institutional professional seats. Moreover, the seat dedicated to the Shenzhen-Hong Kong Stock Connect reported a net sell of over 66.3 million yuan, leading to an overall net sell exceeding 522 million yuan in the trading board.