政策效果已初步显现。钢铁、水泥、光伏设备、能源金属等反内卷主题板块近期表现强劲，多数跑赢大 盘。虽然七月底煤炭、建筑装饰等板块出现回调，但多家机构强调，反内卷并非短期主题，背后是行业 盈利改善与竞争生态优化的中长期逻辑。 近日，六部门联合召开光伏行业座谈会，再次强调要规范市场竞争秩序，防范"内卷式"恶性竞争。自 2024年7月中央政治局会议提出相关要求以来，一套多层次、跨领域的反内卷治理体系正在加快构建。 多家机构分析认为，伴随政策持续落地，行业竞争格局有望优化，部分板块将迎来中长期价值重估。 华创证券研究所副所长张瑜指出，本轮政策围绕"盘活存量"与"做优增量"双主线推进，旨在推动传统产 业升级与鼓励新质生产力创新发展，手段包括优化竞争秩序和打破地方保护等。证监会也明确支持传统 行业兼并重组，释放出资本市场结构性优化的积极信号。 "兼并重组与升级转型是摆脱内卷的根本路径，"中信建投分析师夏凡捷团队表示，"通过减少竞争者、 抬高门槛，才能重构供需平衡，实现减量提质。"若光伏领域试点成功，类似模式或扩展至其他行业。 天风证券、中信建投等机构认为，随着政策逐步进入执行与成效验证期，"涨价潮"与企业盈利修复将成 为下 ...

Group 1 - The core viewpoint emphasizes the importance of both incremental and stock optimization in driving economic growth in China [2][4] - The logistics industry is experiencing significant improvements, with delivery efficiency increasing fourfold due to the integration of drones and autonomous vehicles [1] - The express delivery volume has surpassed 50 billion packages, indicating a robust growth trajectory in the logistics sector [1] Group 2 - The silver tourism sector is evolving, with a 30% year-on-year increase in railway tourism train operations, reflecting a shift towards quality and comfort to attract older travelers [2] - The integration of new technologies, such as AI and robotics, is creating new consumer experiences and driving market demand [3] - The potential of dormant assets, such as unused patents and vacant buildings, is being recognized, with initiatives in Shanghai and Fujian aimed at revitalizing these resources for economic growth [3]