From Ning Wang to Han Wang: The Trillion Road of Chinese Technology Stocks

On June 30, 2026, Cambrian became the first trillion dollar company on the Science and Technology Innovation Board, with five of the top ten technology stocks in the A-share market. Ningde Times, Zhongji Xuchuang, and Cambrian respectively represent profit realization, growth realization, and narrative overdraft, reflecting the maturity and differentiation of the market's pricing of technology stocks. This summit stems from the AI cycle, domestic substitution, and policy resonance, but the future test lies in whether the narrative can be translated into real profits.