CMS·2026-02-02 13:02Investment Strategy Overview - The report anticipates a volatile market in February due to previous regulatory signals and significant ETF outflows, with market activity expected to decline before the Spring Festival and improve post-holiday as policy catalysts emerge [3][4] - The focus remains on cyclical price increases, particularly in sectors like semiconductors and AI, which are expected to maintain a positive trend [3][4] - The liquidity situation is mixed, with increased inflows from retail investors countered by significant ETF sell-offs, leading to a challenging funding environment before the Spring Festival [3][4] Key Stock Recommendations - Jianghuai Automobile (江淮汽车): Positioned as the only domestic ultra-luxury brand, with the S800 model outperforming competitors like Mercedes-Benz. The company plans to launch 6-7 high-end models, indicating substantial growth potential [5][8] - Luxshare Precision (立讯精密): A key player in the Apple supply chain, with strong growth prospects in consumer electronics and automotive sectors. The company is expected to achieve rapid earnings growth over the next few years [5][11] - Sinyi Technology (生益科技): As a leading manufacturer of CCL, the company is well-positioned for long-term growth with a focus on high-end product upgrades and strong market demand [5][15] - Tianqi Lithium (天赐材料): The largest manufacturer of electrolytes with a market share of approximately 40%. The company is expected to see significant profit recovery due to improved supply-demand dynamics in the lithium industry [5][20] - Li Ning (李宁): The company is accelerating its product and channel expansion, with new product launches expected to drive a turnaround in performance [5][20] - Zhongji Xuchuang (中际旭创): A leader in optical modules, benefiting from strong overseas demand. The company is expanding its production capacity to meet increasing market needs [5][27] - Xinyi Technology (新易盛): The company is experiencing continuous growth in high-speed products, with a strong outlook for 2026 [5][27] - Foshan Plastics (佛塑科技): The acquisition of a key supplier is expected to enhance performance significantly, with a focus on the tightening supply-demand situation in the industry [5][27] - Century Huatong (世纪华通): The company is leveraging its partnership with Tencent to enhance its game development and distribution capabilities, indicating strong future growth potential [5][27] - Tencent Holdings (腾讯控股): The company has a solid foundation with a rich game product pipeline and is accelerating its AI application ecosystem [6][27] Market Trends and Expectations - The report highlights a trend of price increases spreading from cyclical sectors like oil and food to technology sectors, particularly AI and semiconductors, which are expected to continue benefiting from policy support [3][4] - The upcoming Two Sessions in March are anticipated to catalyze policy developments that could positively impact market performance [3][4] - The report emphasizes the importance of sector rotation as a key characteristic of the market in February, with a focus on cyclical price increases and technology sectors [3][4]