CCSC(SH:601375) Zhongyuan Securities·2025-06-26 11:55Investment Rating - The industry is rated as "stronger than the market," indicating an expected increase of over 10% in the industry index relative to the CSI 300 index over the next six months [15]. Core Viewpoints - The A-share market experienced slight fluctuations with the Shanghai Composite Index facing resistance around 3461 points, while sectors such as communication equipment, cultural media, tourism, and electronic components performed well [2][3]. - The average price-to-earnings ratios for the Shanghai Composite Index and the ChiNext Index are 14.20 times and 38.05 times, respectively, which are at the median levels of the past three years, suggesting a suitable environment for medium to long-term investments [3][14]. - The market is expected to maintain a steady upward trend in the short term, with a focus on communication equipment, cultural media, electronic components, and shipbuilding sectors for investment opportunities [3][14]. Summary by Sections A-share Market Overview - On June 26, the A-share market showed slight fluctuations, with the Shanghai Composite Index closing at 3448.45 points, down 0.22%, and the Shenzhen Component Index at 10,343.48 points, down 0.48% [7][8]. - The total trading volume for both markets was 16,234 billion, which is above the median of the past three years [3][14]. Future Market Outlook and Investment Recommendations - The report anticipates a steady upward trend in the market, driven by moderate economic recovery in China, with consumption and investment as core growth drivers [3][14]. - There is a notable increase in long-term capital entering the market, with steady growth in ETF sizes and continuous inflow of insurance funds, providing significant support [3][14]. - Investors are advised to closely monitor policy changes, capital flows, and external market conditions while focusing on specific sectors for short-term investment opportunities [3][14].