四月策略及十大金股：特朗普关税2.0，将加速美国“衰退”与“美股趋势性调整

Group 1: Strategy Overview - The report highlights that the Trump 2.0 tariffs will accelerate the "recession" in the U.S. and lead to a trend adjustment in the U.S. stock market [3][4] - It notes that global risk resonance is causing increased volatility in both A-shares and Hong Kong stocks, with domestic fundamentals showing signs of decline [3][11] - The report anticipates a shift from small-cap growth styles to large-cap value defensive strategies, lasting at least until signs of an "earnings bottom" appear [3][11] Group 2: Company and Industry Insights - In the pharmaceutical and biotechnology sector, companies like Kelun-Biotech and Innovent Biologics are highlighted, with projected EPS for 2024 at -1.17 and -0.25 respectively [2] - In the chemical pharmaceutical industry, East China Pharmaceutical is noted for its positive EPS of 1.92 for 2024, with a PE ratio of 19.25 [2] - The precious metals sector features Hunan Gold, with an EPS of 0.76 for 2024 and a PE ratio of 30.46, indicating strong performance expectations [2] - Tencent Holdings in the social media sector is projected to have an EPS of 20.49 for 2024, with a PE ratio of 24.87, reflecting its robust market position [2] - In the defense and military electronics sector, Zhenhua Technology is expected to have an EPS of 1.84 for 2024, with a PE ratio of 30.32, suggesting growth potential [2] - The construction sector includes Sichuan Road and Bridge, with an EPS of 0.86 for 2024 and a low PE ratio of 9.36, indicating a defensive investment opportunity [2] - XCMG Machinery in the engineering machinery sector is projected to have an EPS of 0.50 for 2024, with a PE ratio of 17.10, suggesting moderate growth [2] - Action Education in the education sector is expected to have an EPS of 2.22 for 2024, with a PE ratio of 19.41, indicating a favorable outlook [2] - In the feed industry, Zhongchong Co. is projected to have an EPS of 1.02 for 2024, with a high PE ratio of 41.60, reflecting strong growth expectations [2]