四大证券报精华摘要：7月8日

Group 1 - The insurance capital is increasingly investing in high-dividend assets, particularly in the Hong Kong stock market, with a significant focus on H-shares [1] - The insurance sector's investment in high-dividend assets is expected to strengthen, favoring low-valuation, low-volatility, and high ROE assets [1] - The A-share market is witnessing a surge in the electricity sector due to rising power demand amid high temperatures, with recommendations to focus on various electricity-related segments [2] Group 2 - The securities industry is undergoing a revision of its reputation management regulations, introducing a pre-compensation mechanism to encourage firms to compensate investors for losses [3] - The A-share market is entering a strong half-year reporting season, with expectations of structural opportunities in sectors like finance, gold, new consumption, and AI [4][5] - The first batch of science and technology innovation bond ETFs has been launched, raising a total of 30 billion yuan, indicating a significant influx of funds into the tech innovation sector [6] Group 3 - The IPO process is tightening, with an increase in on-site inspections to ensure the quality of listed companies, reflecting a market-driven approach to filter out subpar applicants [7] - The cement and steel industries are facing profitability challenges, prompting calls for long-term mechanisms to stabilize growth and avoid systemic collapse [8] - The QDII funds are experiencing increased demand as new quotas are released, with a notable performance of Hong Kong funds compared to U.S. counterparts [9] Group 4 - The fifth set of listing standards for the Sci-Tech Innovation Board has been reintroduced, allowing companies with significant market potential but currently unprofitable to apply for listing [10] - Insurance capital has made 20 equity stakes this year, matching the total for the previous year, driven by a low-interest environment and policy guidance [11] - The liquidity in the Hong Kong stock market has improved significantly, with around 200 companies applying for IPOs, reflecting a growing interest in the market [12]