According to the China Merchants Securities Research Report, looking ahead to August, we determine that A-shares are still in the third stage of profit-driven upward trend. The direction of high performance growth represented by technology will complete verification from narrative to financial reports, and from valuation to profit. The recent major adjustment in the direction of science and technology is a typical liquidity shock. With the joint support of policies, industry trends, and micro liquidity, we believe that the adjustment has basically come to an end, and the market will be ready to rise. In terms of direction selection, it is recommended to focus on restoration in the direction of science and technology and high performance growth, such as new energy and resource products.

According to the China Merchants Securities Research Report, looking ahead to August, we determine that A-shares are still in the third stage of profit-driven upward trend. The direction of high performance growth represented by technology will complete verification from narrative to financial reports, and from valuation to profit. The recent major adjustment in the direction of science and technology is a typical liquidity shock. With the joint support of policies, industry trends, and micro liquidity, we believe that the adjustment has basically come to an end, and the market will be ready to rise. In terms of direction selection, it is recommended to focus on restoration in the direction of science and technology and high performance growth, such as new energy and resource products.