A股半年报：券商业绩或高增，机构青睐新消费与AI

Group 1 - The A-share semi-annual report season has officially begun, with multiple brokerages predicting that this year's performance will primarily present structural opportunities across both financial and non-financial sectors [1] - The brokerage sector's stock prices have shown a lackluster performance in the first half of the year, with the Shenwan Securities Industry Index declining approximately 3%, while most brokerages remained stagnant [3] - Market trading data indicates that the average daily trading volume in the Shanghai and Shenzhen markets reached 13,610 billion yuan, a year-on-year increase of about 60%, and the margin financing balance reached 18,505 billion yuan, up 25% year-on-year [3] Group 2 - The consumer sector has shown significant internal differentiation, with the liquor and seasoning-related sectors experiencing sluggish performance, while new consumption industries such as IP toys and traditional gold ornaments have seen substantial growth [3] - Institutions believe that the focus for investment in the consumer industry should be on companies that continuously launch new products and expand into new channels, with the pet industry showing rapid growth and domestic brands rising [4] - The technology sector is benefiting from AI-driven innovation, with the TMT manufacturing industry's industrial added value growth exceeding 10%, and significant growth in integrated circuit exports [4]