A Shares Fall at Noon: Shanghai Composite Down 0.93%, Over 4,300 Stocks Decline, Wind Power and Banks Buck Trend

September 24 — China's A-share market opened lower across the three major indices on Tuesday morning, with the downturn deepening through the session. The market displayed a divergent pattern: indices fell amid broad-based declines, while low-valuation heavyweight stocks showed relative resilience.

As of the midday close:

• Shanghai Composite Index: Fell 0.93% to 3,900.00 points
• Shenzhen Component Index: Dropped 1.74% to 13,399.34 points
• ChiNext Index: Declined 1.84% to 3,317.33 points

Across the market, more than 4,300 stocks declined, while just over 1,000 advanced. Total half-day turnover on the Shanghai, Shenzhen, and Beijing exchanges reached 1.0781 trillion yuan, contracting by 93 billion yuan compared with the previous session.

Capital flows: According to data tracked by Cailianshe, early-session net capital inflows were seen in the transportation equipment, national defense and military, and general equipment sectors. Net outflows were recorded in electronics, semiconductors, and non-ferrous metals, with the electronics sector alone seeing net outflows exceeding 9.2 billion yuan.

Market Overview

On the upside, sectors including wind power equipment, textile manufacturing, education, and banking posted relative strength. On the downside, precious metals, components, and real estate led the declines.

Overall, the three major indices opened lower and continued to weaken. Growth-oriented tech stocks, along with cyclical sectors such as non-ferrous metals and real estate, saw broad adjustments. Low-valuation sectors like banking and education held up relatively well. Declining stocks far outnumbered gainers, and half-day turnover contracted notably from the previous session.

Hot Sectors

1. Wind Power Equipment: Opened Lower, Recovered

The wind power equipment sector opened lower but rebounded. Luozhou Bearing hit the 20% daily limit, Jixin Technology also hit the 10% limit, and Weili Transmission rose over 11%. Zhenhong Co., Dajin Heavy Industry, and Xinqianglian also posted notable gains.

Commentary: On September 24, the National Energy Administration released power statistics for January–August, showing that as of end-August, China's installed wind power capacity reached 693 GW, up 19.6% year-on-year. Additionally, on September 22, the State Council Information Office held a press conference on the "15th Five-Year Plan" period, during which the Ministry of Natural Resources proposed expanding marine renewable energy industries. It projected that by 2030, offshore wind installed capacity would double to 100 GW.

2. Humanoid Robot Supply Chain Stocks Active

Stocks in the humanoid robot supply chain showed resilience. Xiangyang Bearing, Zhongma Transmission, Changhua Group, and Ningbo Dongli all hit their daily limits. Joyson Electronics rose over 7%, while Xiangming Intelligent, Fulai New Materials, and Fengguang Precision also gained.

Commentary: On September 24, the International Federation of Robotics reported that China's new industrial robot installations in 2025 reached 354,000 units, accounting for approximately 59% of global installations — a record high. The report also forecast an average annual growth rate of 5% to 10% for the Chinese market through 2029. On September 23, Tesla CEO Elon Musk said in an interview with CCTV Finance that he predicts the global number of humanoid robots could reach 10 billion units within the next 15 years.

3. Textile Manufacturing Sector Active

The textile manufacturing sector showed strength. Huamao Co. hit its second consecutive daily limit, opening with a one-character涨停 (limit-up). Huasheng Co. also hit the daily limit, Huali Group rose over 3%, and Weixing Co. and Bailong Oriental posted gains.

Commentary: The revised national standard Green Product Evaluation — Textile Products (GB/T 35611–2024), released by the State Administration for Market Regulation, will take effect on October 1. The standard classifies textile products into three categories based on usage scenarios: infant, direct skin contact, and non-direct skin contact. It establishes a comprehensive evaluation system covering resources, energy, environment, quality, and low-carbon performance, and adds a new low-carbon assessment dimension.

4. Education Sector Rallies Briefly

The education sector saw a short-term rally. Kede Education rose over 13%, Angli Education gained over 5%, and Kaiwen Education, Quantong Education, and Xueda Education followed.

Commentary: On September 23, the State Council Information Office held a press conference on the "15th Five-Year Plan" period. Guo Peng, Director of the Department of Development Planning at the Ministry of Education, stated that from 2027 to 2030, undergraduate enrollment at "Double First-Class" universities will expand by an additional 76,000 students. He also noted that the expansion will prioritize frontier technologies and emerging interdisciplinary fields such as artificial intelligence, integrated circuits, biomedicine, and new energy.