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Market Overview - The A-share market shows a mixed performance with the Shanghai Composite Index closing at 3385.36, up by 0.04%, while the Shenzhen Component Index fell by 0.19% to 10183.70 [2] - The total market capitalization of the Shanghai Composite Index is 6523.41 billion, with a price-to-earnings (PE) ratio of 11.97 and a price-to-book (PB) ratio of 1.24 [3] Market Sentiment and Strategy - Market sentiment is recovering, with a renewed focus on technology sectors, indicating a potential for short-term upward momentum in the market [4][6] - The overall A-share market has shown resilience despite geopolitical tensions, suggesting a positive outlook for the second quarter GDP growth [8][9] Industry Dynamics - The global semiconductor equipment shipment value reached 32.05 billion USD in Q1 2025, marking a 21% year-on-year increase [34] - The Chinese railway sector reported a total of 2.25 million locomotives and 8.1 million passenger cars, indicating ongoing growth and innovation in the industry [36] Company Updates - Muyuan Foods reported a 30.42% year-on-year increase in pig sales in May 2025, with a total of 6.406 million pigs sold [38] - Changjiang Securities has received approval for a major shareholder change, with Changjiang Industry Group becoming the largest shareholder, which is expected to enhance its investment capabilities [41] Economic Indicators - The May 2025 China Warehousing Index stood at 50.5%, indicating continued expansion in the warehousing sector [20] - The People's Bank of China conducted a 135 billion CNY reverse repurchase operation, reflecting ongoing liquidity management in the financial system [25]