新华指数月度洞察：资本聚焦硬科技，产业链安全驱动出海

Group 1 - Outbound capital is increasingly focused on "hard technology" and "industrial chain security," with significant investments flowing into areas like 6G and power batteries, where China has established global technological leadership and control over the supply chain [1][8] - The Xinhua Creative Research Long-term Index experienced a 5% decline at the end of November 2025, as funds shifted away from high-valuation sectors like semiconductors and photovoltaics, moving towards traditional cyclical sectors such as construction machinery that are directly related to current "stable growth" infrastructure investments [2][10] - The lithium battery electrolyte additive market is witnessing a surge in prices, driven by strong demand from the recovering new energy vehicle market, with leading companies like Tianqi Lithium signing long-term contracts for over 1.5 million tons of electrolyte, indicating high industry prosperity [3] Group 2 - China's shipbuilding industry is integrating into the global high-end value chain, with companies like Yaxing Anchor Chain benefiting from increased sales and investment returns, reflecting the overall rise of the Chinese shipbuilding sector [4][5] - The Chinese optical module industry is transitioning from scale expansion to technological leadership, with the market expected to grow from 60.6 billion yuan in 2024 to 67 billion yuan in 2025, driven by a significant increase in high-speed product offerings [6] - The current market dynamics show that funds are gravitating towards sectors with clear certainty, particularly in manufacturing, consumption, and electrical new energy, while emerging growth sectors face capital outflows due to valuation concerns [10]