7月指向AH红利均衡

Group 1 - The core viewpoint of the report emphasizes the AH dual-market rotation strategy, aiming to construct a more favorable dividend+ portfolio by analyzing the driving factors of dividends in A-shares and H-shares [2][8] - The July AH dividend rotation indicator is set at 50% A-share dividends and 50% H-share dividends, with the AH dividend rotation indicator value being 50, indicating a relatively neutral position [3][8] - The accuracy of the indicator from 2024 to June 2025 is reported to be 73%, suggesting a reliable predictive capability for the dividend rotation strategy [3][8] Group 2 - The report highlights that the AH rotation timing indicator is updated at the end of each month, which influences the weight and performance of the portfolio for the following month [10] - Historical data from 2021 to 2023 is used for backtesting, with a focus on cumulative returns of the AH dividend rotation portfolio [12]