Group 1 - The overall market of the Beijing Stock Exchange (BSE) has shown a recovery trend since the end of 2024, with the BSE 50 Index experiencing a year-to-date increase of approximately 33% as of June 13, 2025, outperforming major A-share indices [5][13][19] - The "Deep Reform 19 Articles" have been implemented, focusing on enhancing financing functions and improving trading efficiency, which has led to a structural improvement in the market ecosystem [16][18][19] - The BSE is currently in a phase of resonance between institutional dividends and liquidity improvement, providing a foundation for valuation upgrades and re-evaluation of asset allocation [5][16] Group 2 - The technology and self-sufficiency sector remains a key focus, supported by clear policy backing and active industrial iteration, particularly in AI and semiconductor supply chains [5][40] - The new consumption sector is experiencing structural differentiation and growth elasticity driven by generational shifts and changes in consumer behavior, with segments like health food and beauty products showing strong expansion [5][39] - The innovative pharmaceutical sector is in a phase of industrial realization and capital inflow, with the BSE's pharmaceutical segment benefiting from the demonstration effect of the Hong Kong market [5][39] Group 3 - The AI industry in China is projected to grow from 213.7 billion yuan in 2023 to 811 billion yuan by 2028, with a compound annual growth rate of 30.6% [41][43] - The military industry is experiencing increased demand due to geopolitical uncertainties, with national defense spending projected to reach 1.69 trillion yuan in 2024, a 7.2% increase from the previous year [48][49] - The satellite internet sector is rapidly developing, with significant projects like SpaceX's Starlink and domestic initiatives aiming to launch thousands of satellites, creating substantial market opportunities [56][57]
北交所2025年中期投资策略：制度红利延续，结构切换中寻找主线机会
Dongguan Securities·2025-06-23 11:31