According to the strategic research report released by Huatai Securities, asset allocation is undergoing a transition—shifting its focus from an expansion-oriented narrative to a re-evaluation of delivery capabilities and earnings quality. With expectations of tightening short-term liquidity, asset valuations may face downward pressure. During this period of subdued earnings growth, it is crucial to closely monitor new catalysts emerging from the industrial sector, verify order trends, and analyze statements from the September Federal Open Market Committee (FOMC) meeting. Huatai Securities advises prioritizing sectors with clear and stable earnings prospects, such as communications equipment, semiconductor equipment and materials, and printed circuit boards (PCBs). Additionally, investors should keep an eye on potential revaluation opportunities within AI application-related fields.