Recently, a number of public fund institutions, such as Everbright Pramerica Fund, have convened strategy meetings. During these gatherings, fund managers delved into trending investment sectors and offered insights into potential investment opportunities for the latter half of the year. Industry insiders have noted that A-shares are transitioning from a "valuation-driven" phase to an "earnings-for-valuation" one, emphasizing the importance of equity asset allocation, with a focus on structural optimization rather than overall market expansion.
From a macro perspective, the global economy is undergoing a transformation, moving away from reliance on real estate and infrastructure towards AI investment and equipment manufacturing. China's midstream manufacturing sector is poised to enter a "strategic leap period," potentially serving as the primary growth engine for the next one to three years.
On a micro level, the AI industry is evolving from a phase of "rewarding capital expenditures" to one of "verifying real returns," with production capacity emerging as a critical factor in stock selection. Sectors such as optical communications, semiconductor equipment, and materials are showing promising prospects.