Market Overview - The A-share market continues its slow bull trend, with the Shanghai Composite Index reaching a nearly 10-year high, and the North China 50 index hitting a historical peak [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.76 trillion, an increase of 519.6 billion compared to the previous trading day, marking a new high for the year [2] - Northbound capital has seen a net inflow for 15 consecutive days, primarily increasing positions in brokerage and state-owned enterprises, while southbound capital recorded a net purchase of 35.8 billion HKD in Hong Kong stocks, a historical high [3] Financial Data Insights - The central bank released July financial data showing a year-on-year growth of 9.0% in social financing, with an increase of 1.16 trillion yuan, 389.3 billion more than the previous year [4] - The money supply M1 and M2 grew by 5.6% and 8.8% year-on-year, respectively, with increases of 1.0 and 0.5 percentage points compared to the previous month [4] - The increase in non-bank deposits and the narrowing of the M1-M2 gap indicate a significant trend of household savings flowing into the capital market [5] Economic Environment and Future Outlook - The current market environment is more stable compared to 2020, with a focus on technological innovation and industrial upgrades, supported by a GDP growth of 5.2% in Q2 2025 and a 21.3% increase in high-tech manufacturing investment [6] - The "924" new policy is expected to initiate a new round of economic stimulus, with non-bank financial institutions seeing an increase of 910 billion yuan in deposits in September 2024, 1.6 trillion more than the previous year [6] - The trend of household savings entering the stock market is ongoing, with expectations for the Shanghai Composite Index to reach 5,000 points and the CSI 300 to potentially rise to 5,500 points within a year, indicating a possible 30% increase [9][11] Stock Selection Strategies - Investors are advised to focus on high-recognition industry leaders that show sudden volume increases, such as ZTE Corporation and Lingyi iTech [17] - Stock selection can involve choosing strong stocks with moderate price increases or those that have undergone appropriate adjustments, suitable for aggressive investors [17] Liquid Cooling Sector Insights - The liquid cooling server market continues to thrive, with over 20 stocks in the sector rising more than 10% [18] - The demand for liquid cooling solutions is expected to surge due to the acceleration of AI computing infrastructure, with domestic liquid cooling chains poised to enter overseas markets [18][19] - Key players in the liquid cooling supply chain include: - Upstream: Companies like Juhua and Sinoma are leading in cooling liquid production [20] - Midstream: Leading manufacturers include Inspur and Sugon, with significant market shares [21] - Downstream: Applications in data centers and energy storage are being driven by major players like Dataport and Shenling Environment [22]