2025年中期投资策略展望十大投资主题系列：中国股市十大投资主题：先进制造篇

Group 1 - The report highlights ten investment themes focusing on advanced manufacturing, emerging technologies, and structural improvements, indicating a favorable environment for thematic investments in the second half of 2025 [1][4][10] - The report emphasizes the shift in investor perception towards a "transformation bull market" in China's stock market, driven by declining discount rates and a reduction in opportunity costs for equity investments [10][11] - The low-altitude economy is entering a "manned era," with the first operational certificates for manned civil unmanned aerial vehicles issued, indicating significant growth potential in this sector [2][34] Group 2 - The low-altitude economy market is projected to exceed 1 trillion yuan by 2026, with a growth rate of 33.8% year-on-year in 2023, driven by the manufacturing of low-altitude aircraft and operational services [36][40] - The commercial aerospace sector is expected to see a significant increase in satellite launch demand, with multiple satellite constellations entering a dense networking phase, highlighting a substantial gap in launch capacity [41][49] - The deep-sea technology sector is being prioritized under the "Marine Power" strategy, with a focus on developing key technologies and equipment, aiming to enhance China's capabilities in deep-sea resource exploration and utilization [55][64] Group 3 - The semiconductor industry is identified as a critical battleground in the technology competition, with a focus on domestic advancements in lithography technology and the promotion of mergers and acquisitions to strengthen the supply chain [3][64] - The report recommends investing in leading semiconductor equipment and materials companies, as well as domestic computing power industry chains, to capitalize on the growing demand for advanced semiconductor technologies [3][64] - The intelligent driving sector is experiencing accelerated penetration, with the report suggesting investments in key components such as intelligent driving chips, cameras, and lidar systems, as well as smart transportation software and hardware companies [3][64]