开源证券：对于指数的长期突破仍维持乐观判断

Core Viewpoint - The report from Kaiyuan Securities maintains an optimistic outlook on the long-term breakthrough of the index after the market surpasses the "924" high point, driven by dual forces in the market structure [1] Group 1: Market Dynamics - The market is characterized by a "dual driving force," with strong resilience provided by growth categories under global technological collaboration and a cyclical recovery in PPI led by "anti-involution" trends [1] - The A-share market is showing significant "incremental market" features during the central uplift, marked by increased trading volume and heightened capital activity [1] Group 2: Investment Strategy - Investors should not be overly cautious in a positive market environment but should "stay true to themselves, prioritizing technology" [1] - The growth sector is favored, as higher risk appetite in the market makes it easier for growth stocks to outperform [1] Group 3: Sector Focus - Among popular sectors, liquid cooling is highlighted as the next significant opportunity, comparable to optical modules and PCBs, possessing three key characteristics: strong growth, complete narrative, and favorable odds [1] - The fundamental slope change for liquid cooling may be steeper, indicating that the current stage is relatively early compared to optical modules and PCBs [1]