On May 26, major A-share indices experienced wide fluctuations. As of 2:18 PM, the Shanghai Composite Index fell by 0.79%, the Shenzhen Component Index dropped by 0.74%, the ChiNext Index declined by 0.3%, and the STAR Composite Index plunged by 2.63%. Over 4,400 stocks declined, while more than 900 stocks advanced.
Aluminum concept stocks strengthened, with Aluminum Corporation of China Limited (CHALCO) hitting the daily limit-up, its latest market capitalization exceeding 200 billion yuan. Nanshan Aluminum rose over 8%, Zhongfu Industrial surged 7%, Hongqiao Holdings climbed over 6%, Yunnan Aluminum gained over 5%, while Shenhuo Group, Yiqiu Resources, and Jiaozuo Wanfang increased over 4%. According to reports, Guinea, the world's largest bauxite producer, plans to announce reforms for bauxite export controls in June. Guinea accounts for over one-third of global bauxite production.
Regarding the potential impact of this policy, staff from several listed aluminum companies responded. A representative from Yunnan Aluminum stated that specific measures from Guinea have not yet been released, making it difficult to assess the impact on the company. However, from a supply-demand perspective, product prices may see some increase after supply contraction. The company currently sources bauxite mainly domestically, with limited overseas involvement.
A staff member from Aluminum Corporation of China Limited (CHALCO) similarly noted that the policy remains unclear, and specific effects require further observation. The representative emphasized that the company has bauxite resources both domestically and internationally, with a current self-sufficiency rate of around 70%. Operations at its bauxite projects in Guinea are proceeding normally.
A representative from Hongqiao Holdings mentioned that the company's bauxite procurement is concentrated in Australia and Guinea. However, its controlling shareholder holds equity in local mines in Guinea, granting the company priority supply rights for Guinean bauxite. Even if raw material prices rise subsequently, the company's risk resilience is stronger than most industry peers.
Hot sectors collectively declined, with optical communication concept stocks experiencing significant losses. Focuslight Technologies fell over 10%, Yongding Co., Ltd. and Yonggui Electric dropped over 9%, while Tiantong Co., Ltd., Hangzhou Cable, Tongding Interconnection, and Guangku Technology declined over 8%.
Memory chip concept stocks also saw substantial adjustments, with Guangli Technology down over 12%, Dapu Microelectronics falling over 11%, and Netac Technology dropping over 10%.
Computing power leasing concept stocks collectively retreated, with Xingyun Technology down over 12% and Pingzhi Information falling over 11%.
In individual stock movements, AI server concept stock Haixing Co., Ltd. experienced a sudden intraday crash to limit-down. The stock had surged over tenfold from its low in April last year to its high in May this year.
BOE Technology Group Co., Ltd. hit the daily limit-up during the session, currently trading at 5.80 yuan with a turnover exceeding 20 billion yuan.