The latest heavy holdings of the "National Team" revealed! This stock has surged over 11 times, entering the thousand-yuan stock club. Who will be the next "Yuanjie Technology"?

Ask AI · How Do National Team Investments Capture Opportunities in the AI Wave?

By: Niu Bēn

Against the backdrop of ongoing peripheral conflicts, overall A-shares are undergoing a correction this week, but some sectors and companies have still surged against the trend—for example, the core company behind optical modules (CPO), Yuanjie Technology, after continuing to rise strongly against the trend, on Friday during intraday trading closed out with a forceful “20CM” limit-up, and the stock price has successfully entered the group of thousand-yuan shares.

This image may have been generated by AI

The Eighth Thousand-Yuan Share Emerges

On Friday this week, concepts related to photovoltaics, lithium batteries, CPO, and others led the rally against the trend in A-shares, and multiple individual stocks performed strongly. For instance, as of the lunchtime close, multiple stocks including Shangneng Electric, Shouhang Xinneng, and Yuanjie Technology all hit the “20CM” limit-up.

Especially Yuanjie Technology: since the 2025 market upturn began, it has already surged more than 11-fold, and during intraday trading it reached a historical high of 1,140.00 yuan per share, becoming the eighth thousand-yuan share in A-share history. According to reports, before Yuanjie Technology, or currently, stocks whose prices were or are above 1,000 yuan include Zhongan Ke, Aimeike, Kweichow Moutai, Shitou Technology, Yunsai Zhilian, Hemaishares, Cambrian-U; among them, Kweichow Moutai, Aimeike, and Shitou Technology reached their historical peak prices in 2021, while Hemaishares and Cambrian-U set their historical highs in 2022 and 2025, respectively.

Why Is It Yuanjie Technology?

It is said that Yuanjie Technology focuses on optical chips. Its main products include 2.5G, 10G, 25G, 50G, and 100G optical chip products, CW light sources, and automotive LiDAR light sources, among others. They are mainly applied in the telecom market, data center market, and automotive LiDAR market, and other fields. The company has already established an end-to-end IDM business system covering chip design, wafer manufacturing, chip processing, and testing. It has achieved bulk supply for the world’s top 10 optical module manufacturers internationally and leading optical module manufacturers domestically, and ultimately it is applied to the data centers of well-known domestic and overseas telecom operators and internet companies.

On the market side, recently the GTC and OFC conferences were held successfully, which to some extent boosted the heat of the CPO concept. On the fundamentals side, under the influence of multiple factors—such as growth in the company’s data center business and rising valuations of enterprises in which it indirectly participates in equity investments—Yuanjie Technology turned from loss to profit in 2025. Among them, operating revenue was 601 million yuan, and attributable net profit was 191 million yuan. In terms of capital flows, the company received additional increases from multiple well-known institutions; for example, during the third quarter of 2025 it already received increases from the “National Team” National Social Security Fund 602 portfolio, with an increase ratio of 0.36%.

In fact, it is not that ten-bagger stocks like Yuanjie Technology are impossible to spot; when the company’s stock price was still at a relatively low level on June 18, 2025 (see the attached image), senior industry insider Bian Huizong had already identified breakthrough signals for the company and treated them as a core case.

The “National Team” Continues to Add More

Recently, listed companies’ 2025 annual reports are in a dense disclosure period. Whether Yuanjie Technology received another round of additions from the “National Team” in the fourth quarter is unknown, but the author will keep watching. However, as the AI technology wave continues to advance, the author has found that many related companies received additional increases from the “National Team” in the fourth quarter.

For instance, ZTE: it is a globally leading provider of comprehensive information and communications technology solutions. It has a complete, end-to-end product portfolio and comprehensive solutions for the ICT industry. Through product solutions and professional services covering the full range of wireless, wired, computing power, energy, terminals, and more, it flexibly meets the differentiated and fast-innovation needs of different global telecom operators and government-enterprise customers. It also spans concepts such as optical-electrical circuit switches (OCS) and ASIC chips. The latest 2025 annual report shows that the company has received continuous overweight positions from the “National Team,” specifically Central Huijin Asset Management Co., Ltd.

Another example is Shenzhen Nan Circuit: it combines concepts such as AI AGENT (small lobster) and artificial intelligence+; during the fourth quarter of 2025, the company received an increase from the “National Team” National Social Security Fund 2101 portfolio. The increase was 119,800 shares, bringing the total to 3.8142 million shares. Based on the author’s statistics, the “National Team” has currently appeared among the top 10 circulating shareholders of 50 listed companies (see Table 1).

Multiple Stocks Enter the Upward Channel

Based on the author’s observation, Yuanjie Technology’s stock has been in an upward channel for 13 days so far. Generally speaking, entering an upward channel means that the stock is entering an uptrend; and currently, many of the heavily weighted stocks for which the “National Team” has publicly increased are also within upward channels.

A typical case is the additional increase by the National Social Security Fund 2101 portfolio for Shenzhen Nan Circuit. That individual stock has remained in an upward channel for 57 days—longer than Yuanjie Technology.

In addition, other “National Team” heavily weighted stocks that have stayed in the upward channel for a relatively long time include China Jushi, High Energy Environment, Sinochem Rare Metals, Capital Online, Wanwei High-Tech, and so on (see Table 2).

(The individual stocks mentioned in the article are only examples for analysis and do not constitute a recommendation to buy or sell.)

Disclaimer: This article is for reference only and does not constitute investment advice.