Market Overview - A-shares exhibited strong performance with all three major indices reaching new highs for the year, with the Shanghai Composite Index gaining 0.5% to close at 3665.92 points, the Shenzhen Component Index rising 0.53% to 11351.63 points, and the ChiNext Index increasing by 1.24% to 2409.4 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 190.57 billion yuan, an increase of 55.6 billion yuan from the previous day, with 2084 stocks rising across the market [1] Semiconductor Sector - The semiconductor sector saw a strong rally, closing up 1.8%, ranking third among industry sectors for the day, with 124 out of 150 component stocks rising [2] - Notable individual stock performances included Shanghai Hejing and Cambrian Technology both hitting the 20% daily limit up, while Shengke Communication rose over 19% and Yuanjie Technology increased over 10% [2] - Cambrian Technology's stock surge was attributed to rumors of increased procurement and expectations of exceeding performance in the second half of the year, although the company advised caution regarding external rumors [2] - Both Cambrian Technology and Haiguang Information have been ramping up inventory, indicating a positive outlook for the domestic semiconductor industry as it shifts towards local production [2] Global Semiconductor Industry Trends - The global semiconductor industry entered an upcycle in Q2 2023, with North American markets experiencing growth around 20% driven by AI infrastructure, while domestic growth is more reliant on the recovery of consumer electronics [3] - The semiconductor cycle is expected to continue its upward trend, with AI remaining the primary growth driver, supported by increasing cloud and terminal AI application demands [3] - Investment logic for semiconductor companies can be categorized into two main lines: domestic substitution in cloud services and growth in downstream applications [3] Photolithography Equipment Sector - The photolithography equipment sector experienced significant gains, with stocks like Haili Co. and Xuguang Electronics hitting daily limits and achieving new highs [4] - The price of core materials for photolithography, particularly photoinitiators, has been rising, which has drawn market attention and led to strong performances from related stocks [4][5] - The photoinitiator market is expected to improve due to advancements in technology and policy support, alongside the recovery of the PCB industry and rapid growth in 3D printing and electronic communication sectors [5] Real Estate Sector - The real estate sector showed renewed strength, with several stocks hitting daily limits and others achieving consecutive gains [6] - Recent policy changes in Beijing aimed at optimizing housing purchase regulations are expected to stimulate the market, with potential follow-up actions from other first-tier cities [6] - Analysts suggest that the current low valuations and reduced holdings in the real estate sector may provide opportunities for investors to accumulate stocks at lower prices [6]