Core Viewpoint - The article emphasizes the importance of focusing on long-term opportunities arising from adjustments in the industrial chain due to the escalating US-China tariff situation, particularly in the areas of self-sufficient industrial chains and the expansion of national brands into non-US markets [1][6]. Group 1: Impact of Tariffs - The US and China have imposed reciprocal tariffs, with the US announcing a 34% tariff on April 2 and China responding with a similar measure on April 4. Further escalation was threatened by the US with an additional 50% tariff if China did not retract its tariffs [2]. - The market has experienced heightened risk aversion, with the electronic sector seeing a decline of approximately 15% over the last three trading days [2]. Group 2: Focus on Self-Sufficiency - The importance of self-sufficiency has been underscored, particularly in critical sectors like semiconductors, which are seen as essential for domestic replacement and innovation. The current environment is expected to accelerate the push for domestic alternatives [3]. - Short-term beneficiaries are anticipated to be in the simulated chip sector, while long-term opportunities exist in segments with low domestic production rates [3]. Group 3: Expansion of National Brands - Chinese national brands are increasingly looking to expand into markets outside of the US, which is viewed as a significant trend moving forward. This expansion is expected to benefit supply chain leaders that align with the global strategies of these brands [4]. - The domestic cost advantages are likely to support this trend, leading to a reshaping of brand dynamics in the global market [4].

Group 1: Market Overview and Sector Analysis - The article discusses the current positioning of six main sectors: technology, consumer, pharmaceuticals, new energy, dividends, and overseas expansion, providing insights on stock prices, valuations, and fundamentals [1] - The property service industry achieved a positive cash flow of 19.8 billion and a net increase in monetary funds of 6 billion, with an average dividend payout ratio rising to 65% [6] - The insurance sector is currently undervalued, with PB ratios at the lower end of the past three years, indicating a high cost-performance ratio [7] Group 2: Electric and Commercial Vehicles - The development of hybrid heavy-duty trucks is seen as the final piece in the electrification puzzle, with expected penetration rates of 1%, 5%, and 10% for 2024, 2025, and 2026 respectively [2] - The article highlights the significant growth potential for hybrid heavy-duty trucks in long-distance transportation, with a projected market share of 30% by 2030 [2] Group 3: Infrastructure and Energy - The electric power sector experienced a 1.3% year-on-year growth in electricity consumption in January and February 2025, attributed to warm winter temperatures and a high base effect from the previous year [9] - Investment in thermal and nuclear power has accelerated, with a year-on-year growth rate of 33.5% in investment amounts [9] Group 4: Consumer Trends and Tourism - During the Qingming Festival, domestic travel increased by 6.3% in terms of the number of trips and 6.7% in total spending, indicating strong travel demand [13] - The article anticipates a continued rise in leisure tourism and service consumption, with a focus on sectors like dining and hotels [13] Group 5: Agricultural Machinery - The recent government plan aims to significantly advance agricultural modernization by 2035, which will drive demand for high-performance and intelligent agricultural machinery [11] - The plan emphasizes upgrading agricultural machinery and integrating advanced equipment into the entire agricultural production process [11]