Breaking news! 300436, up 20% with a strong limit-up! Pharmaceuticals and biotech sectors, over 12 billion yuan in main force capital inflow!

In today’s early trading session, China’s A-share market opened sharply higher and kept climbing. The Science and Technology Innovation 50 Index (STI Composite Index) surged by more than 3% at one point during the day. The Shanghai Composite Index reclaimed the 3,900 level, and the ChiNext Index also again stood above 3,200. The Shenzhen Component Index and the Beijing 50 Index both rose by more than 1%. Over 4,400 individual stocks advanced, while trading remained steady in terms of activity.

On the trading front, sectors such as biopharmaceuticals, glass and fiberglass, data centers, and new energy were active. Meanwhile, sectors including sports, forestry, aerospace equipment, and military trade concept-related themes led the declines.

Surging demand for computing power

Computing-power concept stocks collectively strengthened in the morning session. The data center direction led the gains, and the sector index surged with heavy volume, rising by more than 2%. After Mingpu Optics & Magnetics opened higher, it hit the daily limit within seconds; in the past six days, it logged three straight limit-ups. Tongda Shares (rights protection) reached the daily limit in only about 4 minutes, sealing the board for the second consecutive day. Its share price hit a three-year high. More than 10 stocks such as Zhili Fang and Morality Cloud hit limit-ups or rose by more than 10%.

Related sectors including East Data West Computing, computing-power leasing, Huawei computing power, and cloud computing also pushed upward with expanded volume. A number of stocks such as Jialitu, Ningbo Construction, Oryod, and InnoTel Technology went on multiple limit-ups.

According to information from the China National Data Bureau, Liu Lihong, Director of the Bureau, said earlier that in early 2024, China’s average daily Token (vocabulary) call volume was 100 billion; by the end of 2025, it would rise to 100 trillion; and in March of this year, it had already exceeded 140 trillion—an increase of more than 1,000 times over two years.

The latest data from OpenRouter, a global large-model aggregation routing platform, shows that the call volume of domestic large models has exceeded that of overseas models for a consecutive month. In the top nine by model calls last week (from March 23 to 29), domestic models accounted for six seats. Total call volume reached 9.82T, up 33.4% from the previous week’s 7.359T.

The sudden surge in computing-power demand has led major cloud providers to raise the prices of their AI computing-power products throughout March. Recently, the Alibaba Cloud official website published a pricing adjustment notice for products such as AI computing power and storage: due to the explosive global AI demand and rising supply-chain costs, the industry’s core hardware procurement costs have risen significantly. After careful assessment, it was decided that starting April 18, 2026, service prices for AI computing power, CPFS (Zhishuan Edition), and other services would be adjusted. Among them, computing-power card products such as Pingtouge Zhenwu 810E rose by 5% to 34%, while file storage products such as CPFS (Zhishuan Edition) rose by 30%.

Baidu Intelligent Cloud also issued an announcement for AI computing-power-related products: service prices were raised by about 5% to 30%; parallel file storage and others: raised by about 30%. Effective starting April 18, 2026.

CITIC Securities believes that “a simultaneous rise in both volume and price” has become a prominent feature of the Token market among large-model vendors today. Non-linear growth in Token demand has broken the balance between computing-power supply and demand, pushing the cloud computing industry’s pricing logic to shift toward premium monetization.

Policy tailwinds for the biopharmaceutical sector

The biopharmaceutical sector again pushed higher across the board in the morning, with sub-sectors such as chemical pharmaceuticals, immunotherapy, innovative drugs, and healthcare services all jumping by more than 3%. Guangshengtang (300436) hit the daily limit, rising 20% near the midday close. Batches of stocks such as Wisdom Medical and Peking University Health all hit limit-ups.

Wind real-time monitoring data shows that as of the midday close, the Shenwan Biopharmaceuticals industry received net inflows of more than 12.3 billion yuan of main capital, making it the only industry with net inflows exceeding 10 billion yuan. Guangshengtang, Kailaiying, and others also received net inflows of more than 100 million yuan.

At the “2025 Hunan Province biopharmaceuticals and medical devices industry chain annual work summary meeting” convened in late March, Hunan stated that next it will boldly promote “dare to procure, dare to approve, and dare to invest,” and work to achieve new breakthroughs in innovative drug R&D. It will accelerate the planning and construction of a brain-computer interface future-industry platform, and drive higher-quality growth, increased capacity, and an elevation in capability across the province’s biopharmaceuticals and medical devices industry.

Liaoning issued the《Several Measures on Optimizing the Business Environment to Promote High-Quality Development of the Pharmaceutical Industry》, pledging multiple initiatives such as shortening the processing timeline for export drug sales certificates, developing a list for rapid review and approval of the first batch of medical device applications, and implementing detailed rules for quality management in the operation of radiopharmaceuticals—among other steps—aiming to be at the forefront nationally.

The Science and Technology Department of Yunnan Province released a notice to officially launch the application work for 2026 fiscal-year provincial government support “biopharmaceutical industry innovation development special subsidy” projects. For companies that obtain new drug certificates or production approvals, a subsidy of up to 10 million yuan will be provided at 20% of clinical R&D expenses. For companies whose annual revenue reaches 10 billion yuan for the first time, a one-time reward of 20 million yuan will be granted.

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