news flash·2025-07-13 11:46Core Viewpoint - The report from China Merchants Securities suggests focusing on high-growth TMT sectors, globally competitive midstream manufacturing, domestic demand sectors, and other segments with positive earnings forecasts as A-shares continue to reach new highs this year [1] Group 1: Market Performance - The A-share market has been consistently setting new highs this year, indicating a strong market performance [1] - The upcoming earnings season is seen as a favorable opportunity for investment, particularly in companies that are expected to exceed earnings forecasts [1] Group 2: Earnings Outlook - The overall earnings improvement rate for A-shares is higher than the same period last year, although the extent of profit improvement may be limited [1] - Structural opportunities remain worth exploring, particularly in sectors with high growth potential [1] Group 3: Sector Focus - Recommended sectors for investment include high-growth TMT (Technology, Media, and Telecommunications), globally competitive midstream manufacturing, and domestic demand sectors [1] - Attention should also be given to other sectors that are expected to report positive earnings [1] Group 4: Policy Considerations - Future policies aimed at addressing structural contradictions within industries should be monitored, particularly in relation to the concept of "anti-involution" [1]