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中原证券晨会聚焦-20250731
Zhongyuan Securities·2025-07-31 00:27

Key Points - The report highlights the ongoing recovery of the Chinese economy, with consumption and investment being the core drivers, and suggests a gradual upward trend in the A-share market supported by policy and capital [6][10][12] - The report emphasizes the strong performance of the financial and consumer sectors, with specific recommendations to focus on technology growth and cyclical manufacturing as dual main lines for investment [6][10][12] - The report notes the significant growth in the new energy vehicle (NEV) industry, with global sales expected to reach 20 million units by 2025, and China maintaining its position as the largest market [15][16][17] - The new energy storage industry is also highlighted, with a projected global installed capacity of over 30 million kilowatts by 2025, driven by advancements in technology and supportive policies [18][19][20] - The engineering machinery and industrial robotics sectors are experiencing a recovery, with a recommendation to focus on companies with stable earnings and high dividend yields [24][25] - The report discusses the media and gaming sectors, indicating a positive outlook due to strong demand and favorable policy environments, particularly with the integration of AI technologies [36][38]