2025年7月A股策略：预期7月市场继续震荡上行，红利、科技或是主力

Group 1 - The report anticipates that the A-share market will continue to experience a slight upward trend in July, driven by dividends and technology sectors [2][4][8] - Since the beginning of 2025, A-share indices have shown wide fluctuations, with the Shanghai Composite Index slightly up by 0.89% and the ChiNext Index down by 5.79% as of June 23, 2025 [3][10][11] - The report highlights that the dividend sector, particularly banks and insurance, has performed well, while the consumer sector has been relatively weak due to the impact of the liquor industry [35][36] Group 2 - The report suggests that the technology sector, particularly semiconductors, components, and gaming, may present breakthrough opportunities in July [8][36] - The analysis indicates that the macroeconomic environment is stabilizing, with expectations of new policy measures to support technology innovation and consumption [5][30] - The report identifies three categories of industries based on profit growth and PE ratios, emphasizing sectors like small metals, automation equipment, and precious metals as potential investment opportunities [32][36]