Hot Stock Analysis Report: China Great Wall (000066.SZ)

This analysis is based on market data from Tonghua Shun Finance [1], Dongfang Fortune Net Wealth Account [2], and Jinling Analysis Database [0], released on January 23, 2026. As a central SOE listed company controlled by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) under China Electronics Corporation, China Great Wall (000066.SZ) made it to the trending stocks list today due to abnormal trading volume surge and sharp price fluctuations, attracting widespread market attention.

Item	Data
Stock Name	China Great Wall
Stock Ticker	000066.SZ
Current Price	RMB 18.29 [0]
Intraday Price Change	-6.21% [0]
Total Market Capitalization	RMB 59 Billion [0]
52-Week Range	RMB 13.00 - 19.75 [0]
Controlling Shareholder	China Electronics Corporation (controlled by SASAC) [1]

According to the performance forecast disclosed by the company on January 19, 2026, China Great Wall expects a net loss attributable to shareholders of RMB 35 million to RMB 70 million in 2025, representing a

compared to the same period last year [1][2]. The loss reduction is mainly due to: non-recurring gains of approximately from divestment of non-core assets; focusing on core business strategy, optimizing business structure and product portfolio; as well as steady growth in operating revenue and year-on-year improvement in gross profit margin [1]. This performance forecast marks a significant marginal improvement in the company’s fundamentals, triggering market expectations of a turnaround from distress.

The company has launched

, supporting large model training with tens of billions of parameters [2]. , fully benefiting from the industry dividend of surging demand for AI infrastructure [2]. More importantly, the company plans to launch the products in Q4 2025, adopting 5nm process with doubled core count, and accelerated product iteration will significantly enhance competitiveness [3].

China Great Wall is the second largest domestic server CPU manufacturer in China, with a market share of approximately

in 2024 [3]. The company adopts , with its representative product being the Tengyun S5000 series (64-core), and has an independent covering full stack of operating systems and databases [3]. It has significant advantages in , deeply benefiting from the opportunities in the Information Technology Application Innovation (ITAI) market, and has become an important target in the domestic substitution track with the theme of independent controllability strategy [1].

TSMC’s better-than-expected financial results drove the collective strength of the computing power chip sector [2]. Related concept stocks such as Loongson Technology and China Great Wall hit their daily limit simultaneously, with obvious sector linkage effect, reflecting the market’s continuous pursuit of the computing power infrastructure theme [2].

The company’s ultimate controller is

, and its central SOE status brings natural credit endorsement and resource advantages [1]. As a leading military electronics enterprise, the company covers , with business layouts in internet of vehicles and data security, and has a relatively complete ITAI industry ecosystem [2].

Indicator	Data
Intraday Closing Price	RMB 18.29 [0]
Intraday Low	RMB 16.28 [0]
Intraday High	RMB 18.84 [0]
20-Day Moving Average	RMB 15.84 [0]
50-Day Moving Average	RMB 15.19 [0]

Indicator	Data	Market Implication
Intraday Trading Volume	499 million shares [0]	More than 6 times the average daily trading volume (81.34 million shares), indicating fierce capital game
Turnover	Approximately RMB 9 Billion (estimated)	Significant volume surge, active share turnover
Turnover Rate	Approximately 4.35% [4]	High-level chip exchange maintained
Intraday Volatility	Approximately 16%	Sharp fluctuations, obvious long-short divergence

The

reached +128.05% (from RMB 8.02 to RMB 18.29), with during the period [1]. This strong performance not only reflects the market’s pursuit of AI computing power and domestic substitution themes, but also has partially priced in future performance expectations.

Indicator	Status	Interpretation
Trend Judgment	Sideways Consolidation	No obvious upward or downward trend [0]
MACD	No Crossover Yet	Neutral Bullish [0]
KDJ	K:77.4, D:76.5, J:79.1	In overbought zone, facing pullback pressure [0]
Beta Coefficient	0.34	Low correlation with the broader market, relatively independent trend [0]
Support Level	RMB 15.84	20-day moving average, long-short dividing line [0]
Resistance Level	RMB 18.70	Near recent high [0]

According to market data,

on January 20, while [4]. This pattern of “main capital exiting, retail capital taking over” often indicates insufficient short-term upward momentum, with short-term capital taking profits.

When it hit the daily limit on January 21, the buy orders queued for the daily limit reached

at one point, showing strong bullish sentiment in the market [1]. The company led the rise of the on the day, hitting the daily limit in tandem with computing power chip stocks such as Loongson Technology [2]. In the last 90 days, [4].

Risk Type	Details
Still in Loss	Expected net loss of RMB 35-70 million in 2025, P/E ratio is -76.21 [0]
Sharp Pullback Today	6.21% intraday drop, high-volume surge may signal a short-term peak
Main Capital Exit	Net outflow of main capital of RMB 65.08 million on January 20, indicating short-term capital taking profits [4]
High Valuation	P/B ratio 5.30x, P/S ratio 3.96x, high valuation pressure amid losses [0]
KDJ Overbought	Technical indicators show short-term overbought conditions, adjustment needed [0]
Dependence on Non-recurring Gains	Loss reduction mainly comes from investment gains from asset divestment, core business profitability yet to be verified

: Significant loss reduction indicates signs of a turnaround from distress; AI server business grows rapidly, benefiting from computing power demand; core target with central SOE background + independent controllability; steady revenue growth and gross profit margin improvement in 2025; upcoming launch of S6000 series accelerates product iteration.

: Still in loss, loss reduction relies on non-recurring gains; fierce competition in domestic CPU market (Hygon Information, Huawei Kunpeng, Loongson Technology, etc.); central SOEs usually have lower efficiency and less flexible incentive mechanisms than private enterprises; share price has rebounded 128% from the low, a large increase; technical indicators show overbought conditions, short-term pullback pressure exists.

Price Type	Price (RMB)	Implication
Short-term Resistance Level	18.70	Recent high; a breakout may lead to a challenge of the previous high [0]
Key Resistance Level	19.75	52-week high
Short-term Support Level	17.00	Round-number support
Important Support Level	15.84	20-day moving average, long-short dividing line [0]
Strong Support Level	15.19	50-day moving average [0]

The core drivers behind China Great Wall becoming a hot stock are

(over 95% year-on-year loss reduction), coupled with and the concept of , as well as increased market attention brought by . The overall strength of the computing power chip sector has also played an important catalytic role.

:

• A sharp 6.21% pullback occurred today, with abnormal trading volume surge, indicating short-term capital taking profits
• KDJ indicator is in overbought zone, technical side needs adjustment
• The pattern of main capital outflow and retail capital taking over is not conducive to continuous upward movement
• It is recommended to wait for a pullback to the support zone (RMB 15.84-17.00) before considering entry

:

• Loss reduction trend confirmed, marginal improvement in fundamentals
• AI server new product S6000 series is about to be launched, accelerating product iteration
• Clear opportunities in domestic substitution + ITAI market, as the core carrier of Phytium CPU, it is expected to benefit
• Central SOE reform expectations may bring valuation improvement opportunities

:

• Broad space in domestic CPU track (only 22% market share in 2024, great room for growth)
• Strong demand certainty in party and government, military sectors under independent controllability strategy
• Need to continuously track whether core business profitability has truly recovered (rather than relying solely on non-recurring gains)

It is not recommended to chase the rise at the current price. Attention should be paid to the absorption situation after the opening on January 24 (Monday), with a focus on whether the company will release further asset restructuring or business integration announcements. Investors should closely track key catalysts such as the progress of S6000 series product launch, changes in Phytium chip market share, and the advancement of ITAI policies.

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: China Great Wall has become a market hotspot today due to expectations of loss reduction, AI server business growth and domestic CPU concept, but faces short-term pullback pressure. Current valuation is relatively high (despite losses), and main capital is showing a net outflow trend. Investors should wait for a better entry opportunity. In the mid-term, attention can be paid to the recovery of the company’s core business profitability and the progress of new product launches.