According to the Huatai Securities Research Report, A-shares may currently be in a volatile rebalance phase. Institutional chips that were strong in the previous period have not been fully digested, limiting the continued expansion of the main line, but the improvement in the economy is spreading to more industries, and structural opportunities are still being supported. Therefore, it is inappropriate to continue to chase overcrowded varieties in terms of configuration, and the focus should shift to segmentation with “poor configuration.” According to this standard, 1) in the AI chain, priority attention can be paid to the link where stock prices such as communication equipment are still relatively reasonable; secondarily, attention can be paid to the direction where the boom in AI electricity, semiconductor materials, semiconductor equipment, etc. has improved; in addition, pricing for copper connections, MLCC, etc. is relatively balanced and needs to wait for further catalysis; 2) In the non-technology sector, attention can be paid to varieties such as ships, batteries, construction machinery, and agriculture where the stock price increase is low; 3) Weak dollars are more external catalysts for structural markets, and can focus on copper's profit economy., aluminum and other industrial metals and innovative drugs; 4) Dividends are still used as a portfolio base, with priority allocation for banks and transportation, and coal distribution can be moderately increased in line with economic improvements.

According to the Huatai Securities Research Report, A-shares may currently be in a volatile rebalance phase. Institutional chips that were strong in the previous period have not been fully digested, limiting the continued expansion of the main line, but the improvement in the economy is spreading to more industries, and structural opportunities are still being supported. Therefore, it is inappropriate to continue to chase overcrowded varieties in terms of configuration, and the focus should shift to segmentation with “poor configuration.” According to this standard, 1) in the AI chain, priority attention can be paid to the link where stock prices such as communication equipment are still relatively reasonable; secondarily, attention can be paid to the direction where the boom in AI electricity, semiconductor materials, semiconductor equipment, etc. has improved; in addition, pricing for copper connections, MLCC, etc. is relatively balanced and needs to wait for further catalysis; 2) In the non-technology sector, attention can be paid to varieties such as ships, batteries, construction machinery, and agriculture where the stock price increase is low; 3) Weak dollars are more external catalysts for structural markets, and can focus on copper's profit economy., aluminum and other industrial metals and innovative drugs; 4) Dividends are still used as a portfolio base, with priority allocation for banks and transportation, and coal distribution can be moderately increased in line with economic improvements.