策略周报20250720：指数蓄力，心向AI-20250720

Group 1 - The report indicates that the index continues to rise, with a focus on financial and technology sectors, as the market sentiment remains optimistic, leading to a 3.17% increase in the ChiNext index and a 0.69% increase in the Shanghai Composite index [3][15]. - It is recommended to maintain a high position in the market, as the upward momentum may accelerate after the consolidation phase, with financial and technology sectors being the main focus for the second half of the year [4][16]. Group 2 - The report highlights a positive outlook for the artificial intelligence sector, with significant developments expected in the next 1-2 months, including the potential release of OpenAI's GPT-5 and the success of KimiK2 as a leading open-source model [5][17]. - Robotics, as a key application area of artificial intelligence, is also expected to rise alongside AI, with additional opportunities in other technology segments such as innovative pharmaceuticals, military industry, stablecoins, nuclear fusion, and deep-sea economy [6][18]. Group 3 - The report notes that while the anti-involution theme may see short-term fluctuations due to policy expectations, its overall sustainability is limited, suggesting a focus on steel and non-ferrous metals for mid-term investment potential [7][19]. - The financial sector is identified as a crucial component for index growth, with recommendations for low-cost entry during the current consolidation phase, alongside a cautious approach to the real estate sector as risk assessments may begin to decline [8][20].