Zhang Xue Motorcycle Wins Two Consecutive International Races, How Did the Hunan Youth Turn the Tables? | 0331

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1. Daily Market Analysis

2. Market Observation — A-shares March Closing

On March 31, 2026, the A-share market concluded its first quarter, with the Shanghai Composite Index falling a total of 6.51% this month. The overall trend shows a “rise sharply then fall back, gradually stabilizing,” with the index briefly breaking the January 14 high at the start of the month, then oscillating weaker, ultimately losing the 3,900-point mark again. The Sci-Tech Innovation 50, CSI 500, CSI 2000, and Beijing Stock Exchange 50 indices all declined over 10% this month.

Today, the Shanghai Composite Index dropped 0.80%, the Shenzhen Component Index fell 1.81%, and the ChiNext Index plummeted 2.70%. The total trading volume across both markets was 1,992.5 billion yuan, with over 80% of stocks declining.

From a short-term investor perspective, the market exhibited three main features today: first, the number of consecutive limit-up days compressed to four, with only 16.67% of stocks achieving consecutive limit-ups, indicating low market sentiment; second, sector rotation accelerated, with hot topics like high-speed rail, subway, and two-wheel vehicles lacking sustainability, all driven by short-term news pulses; third, trend stocks collectively corrected, with previously strong sectors such as computing hardware, coal, oil and gas, wind power, and chemicals all pulling back, with a clear retreat of high-flyer themes.

On March 30 at 19:00, the LiJian No. 2 remote sensing launch vehicle successfully completed its maiden flight in the Dongfeng Commercial Aerospace Innovation Test Zone, sending the Xinzheng 01 and 02 satellites and TianShi Satellite 01 into orbit. The commercial aerospace concept received renewed boost, with the limit-up stock ShenJian Co. achieving a four-day streak, driving ShunHao Co., JuLi Sling, and TongDa Co. to hit the daily limit, while ShengZhi Technology and XiCe Testing set new historical highs. According to a set of cost data disclosed by ZhongKeYuhang, this rocket with a takeoff weight of 625 tons, in a non-recovery mode, has a unit cost approaching the level of SpaceX’s Falcon 9 recovery mode.

Currently, the non-recovery single-launch cost of LiJian No. 2 is 30k RMB per kilogram, roughly comparable to SpaceX’s Falcon 9 cost of $5,000 per kilogram. After future recovery capabilities are realized, the cost could potentially drop to half of SpaceX’s.

Recently, the Ningbo Municipal Service Center website announced that the first phase of the Ningbo Commercial Aerospace Industry Base project will open bidding in April, with Ningbo Commercial Aerospace Development Co. as the bidding agency. The project is estimated to involve a total investment of about 8.66 billion yuan, planning to build an integrated commercial aerospace industry base along the entire chain.

Public information shows that Ningbo Commercial Aerospace Development Co. was officially registered on January 12 this year, with a registered capital of 1 billion yuan, jointly held by Ningbo Xiangbao Cooperation Zone Investment and Development Co. and Ningbo Development Investment Group Co., both local state-owned enterprises.

2. Domestic Motorcycle Wins Overseas Championship

Recently, at the Portimão Circuit in Portugal, during the World Superbike Championship (WSBK) race, the scene was boiling! French rider riding a motorcycle manufactured by Chinese motorcycle maker Zhang Xueji’s company won back-to-back championships in the SSP (middleweight) class, taking first place in both the first and second rounds! WSBK is a stage to test the ultimate performance of production bikes, and this victory by a Chinese motorcycle manufacturer broke the long-standing dominance of European and Japanese brands like Ducati and Yamaha.

At 14, he carried a worn-out backpack into a motorcycle repair shop in Huaihua city and became an apprentice.

He then won third place in the domestic group at the 2009 Motorcycle City Climb Competition and runner-up in 2011, repeatedly proving his strength on the track. But reality soon caught up: injuries from years of intense training, and the shortcoming of China’s motorcycle industry—at that time, we still couldn’t produce a truly high-displacement racing bike, with core technology long monopolized by foreign companies. Zhang Xue gradually realized that he might not reach the top as a rider, but he could take a different path—making Chinese motorcycles race to the world’s front. “Since I can’t ride at the front, I’ll build a bike that can make Chinese riders reach the top.”

In 2017, at age 30, Zhang Xue co-founded KaiYue Motorcycles. Their first model became an instant hit upon launch.

In 2024, Zhang Xue decided to leave his own company and start anew. He was determined to tackle the hard problem—developing engines.

By 2026, Zhang Xue’s 820RR triple-cylinder racing-inspired motorcycle was launched. This civilian mass-produced bike, after track modifications, directly entered the World Superbike Championship arena. This motorcycle, with fully domestically developed core engine, key components, and vehicle tuning, achieved dual championships.

2. Column Review — Gotion + Deye Co.

Update:

Since March 2026, driven by multiple factors resonating together, the household energy storage market has indeed experienced an unexpectedly strong upward trend.

3. Kelun Ying — Performance Growth

Kelun Ying (002821) is a globally leading CDMO (Contract Development and Manufacturing Organization) company. According to its latest 2025 annual report and subsequent institutional research, the company’s performance has returned to growth, with a clear guidance of 19%-22% revenue increase in 2026.

Recently, the stock price (hitting the daily limit on March 31, 2026) was driven mainly by positive fundamental changes.

Currently, the company’s core growth engine is shifting from traditional small-molecule business to emerging fields like peptides, oligonucleotides, and ADCs (antibody-drug conjugates).

5. Technical Analysis Lecture 21 — Heart, Path, Law, Technique, Tool

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Heart: Your trading outlook, risk perception, emotional control

Path: Your understanding of the market’s essence

Law: Your trading system and rules

Technique: Your specific execution ability

Tool: Your tools, accounts, data, technical facilities

The heart determines whether you can survive long-term;

The path determines what kind of money you make;

The law determines how steadily you profit;

The technique determines whether you can execute;

The tool determines your efficiency and boundaries.

What do you really see trading as?

A casino for overnight riches

Or a long-term game of probability advantage

Is it about “winning every trade”

Or accepting “losses as trading costs”

If you see trading as “must win often,” you will inevitably:

Fight losses stubbornly

Frequent add to positions

Refuse to cut losses

Fail to hold onto profits, endure losses to the end

This is not a technical issue, but a risk perception mistake.

What is the “heart” of a mature trader?

Accepting uncertainty

Accepting losses as normal

Accepting that “fewer mistakes are more important than catching every opportunity”

Accepting “survive first, then talk about gains”

The four most common emotional issues in trading are:

Greed: Wanting more after earning a little, not taking profits as planned

Fear: Cutting losses at the first sign of loss, hesitating to chase a rising market

Anger: Revenge trading after consecutive losses

Luck: Knowing you’re wrong but refusing to admit it

You need to understand what you’re not good at earning.

For example:

Some are suited for trend following, not for bottom-fishing or topping

Some are suited for short-term trading, not for swing trading

Some focus on a single market, not suitable for switching multiple assets

One of the biggest misconceptions in trading is copying others’ profits. The result is:

Others’ methods are advantages, but using them yourself can be disastrous.

So “heart” also includes: admitting your limitations, sticking to your skill zone.

Understanding that the market is not a “prediction machine,” but a “probability game.”

Many think trading depends on IQ, information, judgment. But the core is:

Who can consistently execute a system with an advantage over the long run.

Trading is not a one-time exam but an endless repeated game.

Even with only a 55% win rate, as long as the risk-reward ratio and position control are appropriate, you can make money long-term.

But if today’s trend, tomorrow’s volatility, the day after’s news, and the next day’s impulsiveness keep changing, even the smartest person is useless.

Therefore, the “path” of trading is not “always getting the right call,” but:

Continuously doing value-expected activities amid uncertainty.

Stocks and futures are alike; there is no “permanently effective single method.”

For example:

Trending markets: trend-following strategies work

Sideways markets: high sell and buy low, mean reversion work better

News shocks: discipline and risk control trump prediction

Liquidity easing: risk-on assets tend to rise more easily

Liquidity tightening: defense is more important than offense

So, the “path” requires understanding:

It’s not about method absolute good or bad, but whether the method matches the market environment.

Many lose money because they apply trend systems in sideways markets or stubbornly hold swing strategies in choppy conditions.

“Law” is the most critical layer in trading.

If “path” addresses how you view the market, “law” addresses:

How you participate in the market.

Without “law,” trading is always reactive; with “law,” it can be stable.

A mature trading system should answer at least six questions.

You must clarify your profit sources:

Trend breakout

Mean reversion

Event-driven

Fundamental expectation difference

Capital game

Arbitrage

Intraday volatility

Don’t do everything.

The first principle of a trading system is not to cover all opportunities but to focus only on what you understand.

Entry cannot rely on feelings; it must be definable.

For example:

Price breaks above 20-day high with increased volume

Rebound after testing moving averages, buy on the right side

Futures volume reversal at key support levels

Fundamental expectation difference confirmed by technicals

The focus is not on how complex the conditions are but on:

Most people only study buy points, not sell points, which is a big trap.

Exit should include:

How to set stop-loss

How to set take-profit

How to trail stops

Whether to exit after trend breaks

Whether to exit at the time window

Without clear exit rules, even a perfect entry is meaningless.

Because what truly determines profit or loss is not the buy but the sell.

This is the most overlooked yet most crucial part of trading.

Position sizing should consider:

Maximum risk per trade

Maximum daily loss

Maximum exposure per instrument

Total account leverage limit

Scaling down after consecutive losses

When not to trade

A mature system always includes a “abandonment mechanism.”

For example:

No trading before major volatility data releases

Pause after three consecutive losses

Avoiding unfamiliar choppy markets

Avoiding illiquid assets

Not taking opportunities that don’t meet preset risk-reward ratios

Many can trade, few can stay in cash.

But what truly determines trading quality is often the latter.

A system isn’t just written and done; it needs ongoing calibration.

Weekly or monthly review should include:

Which types of trades make money

Which lose money

Are losses due to system issues or execution errors

Has the market environment changed

Are risk-reward, win rate, drawdown within targets

Without review, the system will gradually degrade into subjective randomness.

“Technique” is about execution.

Many traders’ biggest problem isn’t “not knowing,” but:

Knowing the importance of stop-loss but not executing

Knowing not to chase highs or sell lows but still impulsively doing so

Knowing lighter positions are safer but adding leverage when excited

This is “technique” not being in place.

The main aspects of “technique” include:

Recognizing:

Trend strength

Support and resistance

Volume expansion and contraction

Fake breakouts vs. real breakouts

Switching between bullish and bearish momentum

This is not mysticism but basic skills.

The same method, different execution levels, lead to vastly different results—key is understanding the market and rhythm.

Specifically:

Gradual building vs. all-in

Limit orders vs. market orders

When to reduce positions

When to lock in profits

Handling rapid volatility

Discipline is the most overused yet most scarce ability in trading.

True discipline is not “I will restrain myself later,” but:

Planning before entry

Automatic execution of stop-loss triggers

Not deviating from the system after profits

Not abandoning the system after losses

Many lose not to the market but to themselves constantly changing rules.

Good trading isn’t about daily trading but:

Daring to act when opportunities arise

Not trading randomly when no opportunity

Reducing positions after losses

Staying humble when in good state

This is about rhythm.

If rhythm is off, account fluctuations can be larger than market swings.

“Tool” is the outermost layer. Many beginners overly trust “tools,” thinking software, indicators, quant tools, news terminals can solve problems.

In fact, they only improve efficiency, not replace the system.

But “tools” are still important because they determine whether you can reliably implement the first four layers.

Basic tools include:

Stable trading software

Market data terminals

News and announcement systems

Macro/industry data sources

Review and record tools

Stock investing requires analyzing financial reports, industry data, capital flows;

Futures trading requires monitoring positions, basis, inventories, term structures, macro data.

Without proper tools, information processing is inefficient. For example:

Stop-loss orders

Conditional orders

Position management sheets

Maximum drawdown monitoring

Risk exposure statistics

Many think risk control relies on willpower, but it should be more systematized.

Use systems to limit yourself; avoid relying solely on conscious effort.

Trading logs and review systems

Are critical “tools” most people lack.

You should record:

Entry reasons

Position size

Stop-loss placement

Exit reasons

Emotional state

Final result

Over time, you’ll find whether your problem is:

The method itself lacks advantage

Your execution keeps changing

Your emotions interfere at key moments

Without records, your judgment is usually inaccurate.

2. Heart: First define your trading positioning

Ask yourself:

Am I an investor or a trader?

Do I prefer slow or fast pace?

How much drawdown can I tolerate?

Is my goal explosive profits or steady compound growth?

If you don’t clarify this step, everything else will be chaotic. Path: Clarify what market laws you believe in

For example, you believe:

Trends will continue

Extreme deviations will revert

Fundamental expectation differences will drive price corrections

Large fluctuations come from macro and liquidity shocks

You don’t need to believe all, just clarify which type of money you aim to earn.

Law: Write the rules based on these laws

For example, a simplified trend system could be:

Only trade daily trend

Only trade assets breaking out with volume

No single loss exceeding 1% of account

Stop loss below a certain moving average

Pause trading after three consecutive losses for two days

This shifts from “I roughly understand trends” to “I know how to trade trends.”

Technique: Practice execution

What you need to do:

Pre-market planning

Execute only during trading

Post-market review

Avoid improvising during trading

The biggest risk is “a system before the market, a thought during, an explanation after,”

Tools: Use tools to solidify your system

For example:

Use spreadsheets to calculate position sizes

Use conditional orders for stop-loss

Use logs to record trades

Use data to screen assets

Use backtesting tools to verify strategies

At this point, your trading is no longer “based on feelings,” but a repeatable process.

Many want to excel at:

Fundamentals

Technical analysis

Emotional control

Macro environment

Quantitative strategies

Leading stock tactics

Trend swings

Intraday trading

In the end, knowing a little about everything leads to instability.

The correct approach is:

First, choose a model you understand and can execute best.

Applying “heart, path, law, technique, tool” in stock and futures trading, the core isn’t about making trading mystical but about:

Using these five layers to check your system:

If your heart is unstable, you’ll trade emotionally

If your path is unclear, you’ll use the wrong methods in the wrong markets

If your law isn’t established, you’ll trade based on feelings

If your technique isn’t refined, you’ll know the rules but can’t execute

If your tools are incomplete, your efficiency and risk control suffer

Special Statement:

This article has an audio interpretation available; consult Brother Huzi.

The stocks mentioned are only for investment logic, with no buy/sell advice.