Over 2,700 Listed Firms Draw Institutional Research Visits in September

The breadth of institutional research visits matters more than any single name here: it signals a market-wide search for exposure to a handful of themes — humanoid robots, AI compute, memory, optical modules and a chemical demand recovery — rather than concentrated conviction in large caps. The tilt toward sub-10-billion-yuan names suggests institutions are hunting earlier-stage optionality where positioning is less crowded. Whether that small-cap preference persists, or rotates back toward larger, more liquid names as fundamentals are tested, is the open question.