"Risks emerge from rises, opportunities arise from falls" - this market rule has consistently proven accurate in the stock market. Even for AI, the core theme of this bull market, should be viewed dialectically. In recent days, AI computing has shown some divergence, but as we emphasize, opportunities radiating from AI as the center across multiple dimensions are far from over. However, identifying "the next popular leader" requires more time and research. Recently, Zhang Jianping's new stock holdings list was exposed, with multiple stocks belonging to the AI sector.

Looking at the AI computing sector performance, the phenomenon of leadership rotation and industry chain cycles has been evident. On August 29, after Cambricon-U and others diverged, why could Industrial Fulian continue to hit new highs? After CPO (optical modules) diverged, why could Yangtze Optical Fibre and Cable in the optical fiber field achieve "4 boards in 5 days"? Understanding these patterns will help you better grasp profitable rhythms.

**AI Computing Rally Still Incomplete** **Next "Yangtze Optical Fibre and Cable" Ready to Emerge**

Let's first discuss the market. From recent index "fake drops" and weight sector rotation patterns, there's no need to worry excessively about overall market volatility in the short term. We've repeatedly mentioned that pullbacks after rapid rises are "healthy corrections". After a day of intraday washout on August 28, we immediately noted "washout complete! Next wave of rally about to begin!" The indices cooperated well, welcoming a new wave of rallies the next day on August 29, with ChiNext and Shenzhen Component Index continuing to hit new highs, ChiNext rising nearly 4% at its peak...

Of course, behind the successive new highs of major indices, the role of leading sectors has undergone significant switches. On August 29, the main drivers of index gains quickly switched from electronics and semiconductors to new energy, major financials, food and beverage, and cyclical resources. Interestingly, after the market's recent preference for various "kings," CATL also saw a strong rise that day, surging 14% at one point.

What we want to emphasize is that bull markets never lack opportunities. Rotational rises among different sectors, different industry chains within the same sector, and different companies within the same industry chain occur very frequently. Of course, for superior returns, one must choose one or several main attack sectors. So, for the AI computing mainline that has risen with "strong momentum" since the beginning of this year, are there still opportunities ahead?

An expert gave a clear answer: "There are opportunities, and they are very certain."

The expert stated, "If AI ends, if computing power falls, the rally is over. Bull markets must revolve around industry mainlines. Technology internally hasn't finished rotating yet, such as the computing power-application closed loop. Focusing on mainlines is the most direct source of excess returns."

Looking further at the AI computing mainline, two logical threads can be extended: First, the industrial opportunities for AI computing will continue to strengthen with certainty, but popular leaders (high-low positions, high-low price stocks) will rotate, with Cambricon-U and Industrial Fulian as good examples. Second, rotation between different industry chains within computing power will further occur. From August 25-29, Yangtze Optical Fibre and Cable gained 4 limit-ups in 5 trading days and accelerated to new highs, representing a typical case of computing chain switching from optical modules to optical fiber.

The core of computing power is data processing capability, while optical fiber is a key link in computing power transmission. For opportunities like data center interconnection (DCI) and optical fiber, experts have provided detailed analysis multiple times. Yangtze Optical Fibre and Cable, which has seen strong stock price rises recently, was a key target mentioned in May 28 analysis when its stock price was still at absolute lows.

However, after AI computing experienced accelerated rises followed by divergence, the future direction of leading stocks has added some corresponding uncertainties.

**Zhang Jianping Maintains Cambricon-U Position** **Newly Appears in Multiple Targets**

Due to heavy positions in recently surging AI chip leader Cambricon-U, renowned retail investor Zhang Jianping's attention has increased significantly. Recently, Zhang Jianping appeared in multiple companies' major shareholder camps, with related companies mostly AI-related.

According to Cambricon-U's latest disclosure of shareholder positions as of Q2 end, his shareholding remained unchanged from Q1 end at 6.0863 million shares. However, Cambricon-U's stock performance was relatively stable in Q2, with Zhang Jianping's Q2 end position value at 3.661 billion yuan, unchanged much from Q1 end's 3.792 billion yuan. But since Q3, Cambricon-U has entered a main uptrend, rising up to 164% by August 28. If Zhang Jianping's position remained unchanged, he may have gained about 6 billion yuan in unrealized profits.

From companies' latest Q2 shareholder position disclosures, Zhang Jianping newly appeared as a top ten circulating shareholder in multiple companies. According to Wind data, Zhang Jianping appeared in 9 stocks' top ten circulating shareholders lists in the 2025 interim report, with cumulative position value reaching 5.095 billion yuan.

Meanwhile, he newly appeared in the top ten circulating shareholders lists of 7 companies: Rongtai, Huibo Yuntong, Longxi, Ningbo Huaxiang, Hanwei Electronics, and Changyang Technology. These companies are mostly related to AI or related extended industries. Further observation reveals that many of these companies are humanoid robot concept stocks, such as Rongtai, Longxi, Ningbo Huaxiang, and Hanwei Electronics.

Notably, many targets Zhang Jianping invested in welcomed strong leading gains. On August 29, while humanoid robots overall didn't perform strongly, the humanoid robot concept stocks Zhang Jianping invested in mostly showed strong performance, with Rongtai and Ningbo Huaxiang both hitting 10% limit-ups and reaching new highs; Longxi rose nearly 6%...

Huibo Yuntong, newly invested by Zhang Jianping, has hot concepts like AI intelligent agents and DeepSeek, with its stock price also welcoming strong rises, gaining over 5% on August 29 and reaching new highs. Additionally, Changyang Technology, newly invested by Zhang Jianping, has solid-state battery concepts, with the company's stock price rising up to 18% on August 29. Certainly, solid-state batteries also belong to an important segment within the AI mega-track, as humanoid robots will drive demand growth for solid-state batteries.

So, the key question is: among the targets Zhang Jianping newly invested in, which one might become the next "Cambricon-U"? This may require the market and time to provide answers.