Venture(US:VEMLY) Zhong Guo Jin Rong Xin Xi Wang·2025-07-11 04:10Market Overview - The market experienced a strong upward trend in the early session, with both the Shanghai Composite Index and the ChiNext Index rising over 1% [1] - As of the midday close, the Shanghai Composite Index was at 3546.50 points, up 1.05%, with a trading volume of 438.2 billion; the Shenzhen Component Index was at 10731.19 points, up 0.94%, with a trading volume of 578 billion; the ChiNext Index was at 2215.53 points, up 1.19%, with a trading volume of 277.4 billion [1] Sector Performance - The rare earth permanent magnet sector saw a collective surge, with over ten stocks, including Northern Rare Earth, hitting the daily limit [2] - The financial sector showed strong performance, with major financial stocks experiencing upward momentum, and the stock "Zhinan Zhen" reaching a historical high [2] - The CRO sector also saw a significant rise, with WuXi AppTec hitting the daily limit [2] - Conversely, the PCB sector continued to adjust downwards, with Jin'an Guoji hitting the daily limit down [2] Institutional Insights - CITIC Securities highlighted that "stable return" assets are characterized by low volatility, low drawdown, and continuous returns, with a focus on profitability and dividend stability [3] - The report noted that the banking sector's foundation for "stable returns" has been further solidified due to macroeconomic and regulatory policies, as well as increased holdings by insurance funds, public offerings, and AMC companies [3] - It is expected that trading funds will focus on undervalued stocks, while allocation funds will continue to favor beta stocks [3] Economic Outlook - Jiahe Fund projected that in July, the economy would show structural recovery characteristics, supported by manufacturing and infrastructure investments, while consumer spending continues to recover moderately [4] - The report indicated that the central bank's policy remains stable, but significant easing is unlikely due to concerns over fund circulation [4] - Key variables affecting the market include policy expectations from the Politburo meeting in late July and uncertainties from geopolitical issues and U.S. Federal Reserve policy adjustments [4] - The fund suggested focusing on sectors benefiting from domestic demand, such as automotive and retail, while monitoring policy signals and overseas risk developments [4] Industry Development Initiatives - The State-owned Assets Supervision and Administration Commission (SASAC) emphasized the importance of developing foundational and industrial software for implementing the manufacturing power strategy [5] - The Shanghai Fengxian District government released an action plan for the development of general new materials, focusing on advanced process integrated circuit materials, including high-purity targets and semiconductor packaging materials [6] - The plan aims to accelerate domestic substitution and promote the establishment of an industrial chain ecosystem [6]