贝塔8月投资布局精选

Group 1: Market Overview - The article discusses the performance of various stocks in both Hong Kong and US markets, highlighting significant price changes in July, with notable declines in companies like Old Puhuang and Novo Nordisk [1][2][3]. - The macroeconomic environment is influenced by US trade policies, including fixed tariffs on imports from multiple countries, which may affect market sentiment [4][5]. Group 2: Investment Strategies - The article emphasizes three main investment themes: "anti-involution" policies focusing on industries with high state-owned enterprise representation, technology growth in AI applications, and the importance of semi-annual earnings reports for stock adjustments [5][6]. - Specific stocks are recommended based on their performance and market conditions, such as Old Puhuang, which is expected to benefit from seasonal sales and strong earnings forecasts [6][7]. Group 3: Company Highlights - Old Puhuang (6181.HK) has seen a significant drop in stock price post-lockup, but is projected to achieve a sales revenue of approximately 138-143 billion yuan for the first half of 2025, reflecting a year-on-year growth of 240%-252% [6][7]. - Sanhua Intelligent Control (2050.HK) reported a revenue of 76.69 billion yuan for Q1 2025, with a year-on-year growth of 19.1%, and is expected to maintain strong performance in the upcoming half-year [8][9]. - Horizon Robotics (9660.HK) is set to deliver new high-performance chips, which are anticipated to enhance vehicle value and revenue, amid a shift towards domestic chip solutions due to geopolitical factors [10][11]. Group 4: US Market Insights - Chubb Limited (CB.US) reported a net income of $2.97 billion for Q2 2025, marking a 33.1% increase, with a core operating income of $2.48 billion, reflecting strong underwriting profitability [15]. - Spotify (SPOT.US) faced challenges with Q2 earnings below expectations, but user growth remains robust, indicating potential for recovery despite current market concerns [17][18]. - Novo Nordisk (NVO.US) experienced a significant stock drop due to lower-than-expected sales forecasts, but remains a key player in the pharmaceutical sector with strong growth prospects [19][20].