策略周报：蓄势破局-20250604

Group 1 - The report indicates that the market is likely to maintain a "consolidation" phase in June, with large-cap stocks expected to see a recovery [3][12][13] - Domestic demand momentum is anticipated to improve marginally, with April industrial profits continuing a recovery trend, although both volume and price have declined [12][31] - The "barbell strategy" remains effective in the market, but there has been a notable shift towards a "concentration" phenomenon, with profit effects concentrating in the banking sector and small-cap stocks [32][33] Group 2 - The report highlights that the global supply-demand dynamics for chlorantraniliprole may be reshaped due to production capacity disruptions, with prices already entering a rebound phase [38][40] - The Chinese innovative pharmaceutical companies are gaining global influence, with significant participation in the 2025 ASCO annual meeting, showcasing advancements in drug development [38][40] - The report emphasizes the accelerating penetration of autonomous delivery vehicles, with costs approaching or even lower than human labor costs, indicating a significant shift in logistics [43][44] Group 3 - The report notes that the AI industry chain remains robust, with strong demand for computing infrastructure and significant advancements in AI applications, particularly in the context of major tech companies [46][48] - The report suggests that the market is currently in a box range, with risk appetite suppressed by fluctuating global trade policies and concerns over U.S. Treasury yields [48] - The report identifies key sectors to watch, including innovative pharmaceuticals, autonomous driving, and stablecoins, which are expected to have strong catalysts for growth [48]