Dragon and Tiger List | Han's Laser Soars to Limit Up, Institutions Sell Over 300 Million Yuan! Happy Coast Appears in Yahua Group

On February 26, the Shanghai Composite Index fell 0.01%, the Shenzhen Component Index rose 0.19%, and the ChiNext Index declined 0.29%. The total market turnover was 2.56 trillion yuan, with over 2,800 stocks declining. CPO, PCB, liquid-cooled servers, cultivated diamonds, and sugar substitute concept stocks led gains; film theaters, real estate, and precious metals declined.

In individual stocks, Yunnan Energy Holdings hit the limit-up for six consecutive days, Farsight achieved four consecutive limit-ups, Chengxing Shares three, Huasheng Tiancheng and Shenghui Integration hit two limit-ups in four days, Tongding Internet and Tianrun Industrial hit two limit-ups in three days, and Yunnan Germanium and Gannan Energy Shares achieved two consecutive limit-ups.

Now, let’s look at today’s top traders:

The top three net buyers on the daily Dragon and Tiger list are USI, Huasheng Tiancheng, and Hualan Shares, with net inflows of 1.413 billion yuan, 425 million yuan, and 376 million yuan, respectively.

The top three net sellers are Blue Sky Technology, Mingyang Electric Circuit, and Qingshuiyuan, with net outflows of 194 million yuan, 161 million yuan, and 141 million yuan, respectively.

Among stocks involving institutional dedicated seats, the top three net buyers are USI, Chunhui Zhikong, and Hualan Shares, with daily net inflows of 384 million yuan, 163 million yuan, and 114 million yuan.

The top three net sellers involving institutional dedicated seats are Dazhu Laser, Jepte, and Shenzhen South Circuit, with daily net outflows of 306 million yuan, 214 million yuan, and 174 million yuan.

Some stock themes on the list:

USI (PCB expansion + AI servers + high performance growth)

Industry reasons:

1. After the US stock market closed on February 25, Nvidia announced its latest quarterly revenue of $68 billion and issued strong guidance. Nvidia CEO Jensen Huang stated during the conference call that the AI agency has reached a turning point, and computing power is directly translating into revenue.
2. Dongguan Securities recently reported that AI-driven PCB upgrades are moving toward high performance and high density, with increased demand for high-value products like high-layer and high-end HDI boards. As the new generation of computing platforms begins mass production, product value is expected to increase significantly.

Company reasons:

1. According to the board resolution on February 11, 2026, the company plans to invest 3.3 billion yuan to build a high-end printed circuit board (PCB) production project, expanding capacity by 140,000 square meters per year, with an expected annual revenue increase of 3.05 billion yuan.
2. As of February 10, 2026, the company’s Thailand production base has begun small-scale production of AI server and switch PCBs, receiving certification from top global clients. The company’s operating situation is expected to turn around in Q4 2025, with capacity being released in an orderly manner.
3. The company reported revenue of approximately 18.9 billion yuan in 2025, a year-on-year increase of about 42%; net profit attributable to shareholders was about 3.822 billion yuan, up approximately 47.74%, mainly driven by strong demand for high-end PCBs for AI servers and high-speed networks.

Huasheng Tiancheng (AI computing power + AI applications + DeepSeek concept)

1. According to the annual report on April 26, 2025, the company is fully implementing the “AI + computing power” strategy, with a new generation AI computing power center solution, and has received core certification from leading tech companies for intelligent computing ISV.
2. As of April 26, 2025, and May 16, 2025, the company launched multiple AI-native products such as intelligent customer service and bidding king based on cooperation with Baidu Cloud, Doubao, and other large models, achieving commercialization in finance, manufacturing, energy, education, and other industries.
3. According to the abnormal fluctuation announcement on January 16, 2026, the company’s main business includes IT system solutions, digital infrastructure, and applications. Recently, its stock price fluctuated significantly as the market included it in the AI hot concept. The company stated that related revenue still accounts for a low proportion.

Gao Lan Shares (Liquid-cooled servers + performance growth + North American computing power)

Industry reasons:

1. After the US stock market closed on February 25, Nvidia announced quarterly revenue of $68 billion and strong guidance. CEO Jensen Huang stated that the AI agency has reached a turning point, and computing power is directly translating into revenue.
2. TrendForce forecasts that in 2025, the penetration rate of liquid cooling in AI data centers will jump from 14% to 33%, with the scaling of GB200 cabinets creating a scale-up inflection point.

Company reasons:

1. As of February 11, 2026, the company’s data center liquid cooling business has supplied in bulk to Southeast Asia and other overseas markets, with its US subsidiary advancing projects with North American clients.
2. As of January 28, 2026, the company expects net profit of 23.5–30.5 million yuan in 2025, a year-on-year increase of 146.7%–160.61%, mainly due to rising revenue and gross profit margin of high-power electronic thermal management products.
3. The semi-annual report on August 23, 2025, shows that its high-power density device thermal management business, including data center liquid cooling and energy storage liquid cooling, earned 137 million yuan in the first half of the year, accounting for 32.78% of revenue, with products having a PUE ≤ 1.1 and being supplied in bulk to Alibaba, Tencent, and GDS.

Key trading stocks:

USI: Today’s limit-up, deviation value 9.67%, turnover rate 7.21%, transaction volume 11.558 billion yuan. Data from the Dragon and Tiger list shows institutional net buy of 384 million yuan via Shenzhen Stock Connect.

Chunhui Zhikong: Today’s 20cm limit-up, deviation value 20.00%, turnover rate 20.60%, transaction volume 997 million yuan. Institutional net buy of 163 million yuan.

Hualan Shares: Today’s 20cm limit-up, deviation value 20.00%, turnover rate 35.27%, transaction volume 3.44 billion yuan. Institutional net buy of 160 million yuan, and other institutional net buy of 114 million yuan.

Zhangyuan Tungsten: Today’s limit-up, deviation value 9.67%, turnover rate 8.39%, transaction volume 3.655 billion yuan. Net buy via Shenzhen Stock Connect of 22.669 million yuan, and institutional net buy of 878.86 million yuan, with Hangzhou Bang net buying 568.8 million yuan.

Xianglu Tungsten: Today’s increase of 0.75%, deviation value 28.93%, turnover rate 28.93%, transaction volume 3.002 billion yuan. Institutional net buy of 70.87 million yuan.

Dazhu Laser: Today’s limit-up, deviation value 9.67%, turnover rate 5.50%, transaction volume 3.593 billion yuan. Data from the Dragon and Tiger list shows net sell of 92.235 million yuan via Shenzhen Stock Connect, and institutional net sell of 306 million yuan.

Jepte: Today’s 20cm limit-up, deviation value 20.00%, turnover rate 6.38%, transaction volume 1.443 billion yuan. Data shows net sell of 18.088 million yuan via Shanghai Stock Connect, and institutional net sell of 214 million yuan.

Shennan Circuit: Today’s limit-up, deviation value 9.67%, turnover rate 1.97%, transaction volume 3.683 billion yuan. Net buy of 123 million yuan via Shenzhen Stock Connect, and net sell of 174 million yuan by institutions.

Yahua Group: Today’s decline of 8.76%, deviation value -9.09%, turnover rate 11.78%, transaction volume 3.322 billion yuan. Net sell of 136 million yuan by institutions, and net buy of 106 million yuan by Happy Coast.

Delong Hui Neng: Today’s limit-down, deviation value -10.33%, turnover rate 13.68%, transaction volume 726 million yuan. Net sell of 91.78 million yuan by institutions.

Among stocks involving Shanghai Stock Connect seats, 7 are present, with Huasheng Tiancheng having the largest net sell at 71.09 million yuan.

Among stocks involving Shenzhen Stock Connect seats, 13 are present, with USI having the largest net buy at 736 million yuan.

Trading activity of retail investors:

Zhang Mengzhu: Net buy of 58.51 million yuan in Jufei Optoelectronics, 46.99 million yuan in Yabo Shares; net sell of 41.24 million yuan in Chuan Jinnuo, 28.02 million yuan in Yunnan Germanium.

Chengdu group: Net sell of 64.48 million yuan in Qingshuiyuan, 63.71 million yuan in Chuan Jinnuo, 32.49 million yuan in Yunnan Germanium.

Happy Coast: Net buy of 106 million yuan in Yahua Group, 31.57 million yuan in Chuan Jinnuo.

Quantitative traders: Net buy of 34.29 million yuan in Baichuan Shares, 29.32 million yuan in Chuan Jinnuo.

Hangzhou group: Net buy of 56.88 million yuan in Zhangyuan Tungsten.

Fang Xinxia: Net buy of 86.41 million yuan in Demei Chemical.

Nanjing group: Net buy of 31.82 million yuan in Demei Chemical.

T Wang: Net sell of 91.60 million yuan in Blue Sky Technology.