把握业绩确定性较强的机会，机构最新研判来了

Market Overview - A-share market indices experienced a pullback after reaching new highs this year, but the core logic supporting market growth remains unchanged, suggesting a short-term correction [1] - Institutions recommend maintaining a bullish mindset and focusing on sectors with clear industrial trends and less external disturbance, particularly favoring technology growth [1][5] Key Policy Developments - The People's Bank of China aims to promote rapid growth in loans to technology-oriented small and medium-sized enterprises, utilizing various monetary policy tools to ensure liquidity and match social financing with economic growth [2] - The National Development and Reform Commission has fully allocated 800 billion yuan for this year's "two new" construction projects and is set to distribute additional funds to support consumption [3] - The State Administration of Foreign Exchange is working on measures to facilitate cross-border financing and optimize the management of funds for domestic companies listed abroad [4] Investment Insights - CITIC Securities suggests focusing on sectors with determined industrial trends and minimal external disturbances, particularly in technology, as the second half of the year typically sees a surge in tech-related announcements [5] - Industrial growth drivers remain intact, with a focus on low-position growth stocks and long-term opportunities arising from policy shifts [6] - China Galaxy emphasizes the importance of identifying opportunities with strong earnings certainty during the mid-year reporting period, particularly in AI and emerging industries [7] Market Consensus - The market consensus is centered around two main themes: "low valuation cyclical recovery" and "technology growth industry trends," with an emphasis on sector rotation and expansion [9] - The outlook for listed company earnings is optimistic, with potential improvements driven by domestic policy support and stable economic growth [9]