The three key A-share indices posted collective gains in July, with the Shanghai Composite Index advancing 0.7%, the Shenzhen Component Index climbing 1.46%, and the ChiNext Index leading the pack with a robust 2.39% increase. Market turnover surged to 1.47 trillion yuan, with nearly 4,300 stocks registering gains. In terms of sector performance, photovoltaic equipment, printed circuit boards (PCB), and consumer electronics emerged as front-runners, while the power and banking sectors underwent corrections. According to CICC, while A-share mid-year earnings growth may decelerate compared to the first quarter, it is anticipated to pick up momentum in the second half of the year.