Investment Rating - The report does not explicitly state an investment rating for the industry, but it suggests focusing on sectors like innovative pharmaceuticals and AI hardware for potential growth opportunities [3][29]. Core Insights - The market experienced a slight decline on August 1, with the North Exchange A-share trading volume reaching 21.73 billion yuan, down by 4.37 billion yuan from the previous trading day. The North Exchange 50 Index closed at 1419.61, down 0.23%, while the specialized index closed at 2425.87, down 0.29% [1][7]. - The pharmaceutical sector showed strong performance, with notable gains in stocks such as Bio Valley (up 23.2%) and Datang Pharmaceutical (up 10.2%), driven by positive expectations regarding innovative drug commercialization and new healthcare policies [3][15]. - The AI hardware theme remains active, spurred by government initiatives to implement AI strategies, which is expected to accelerate the commercialization of AI technologies [3][18]. Summary by Sections Market Review - On August 1, the North Exchange A-share trading volume was 21.73 billion yuan, a decrease of 4.37 billion yuan from the previous day. The North Exchange 50 Index fell by 0.23% to 1419.61, with a PE_TTM of 66.36. The specialized index also declined by 0.29% to 2425.87 [1][7]. - Among 269 companies listed, 158 saw their stock prices rise, 6 remained unchanged, and 105 experienced declines. The top gainers included Bio Valley (23.2%), Cube Holdings (11.1%), and Datang Pharmaceutical (10.2) [15][17]. Important News - Nvidia's new 800V architecture is set to transform the AIDC power supply efficiency, with the potential for higher voltage applications to become mainstream, reducing space occupied by power lines [18]. - Key announcements included Kunming Technology receiving a patent for a lead-carbon battery state assessment method and Huaguang Source Sea planning to acquire a 51% stake in Hunan Haniu Logistics Technology for 10.2 million yuan [21][24]. Investment Suggestions - The report recommends focusing on sectors such as innovative pharmaceuticals, AI hardware, and new productivity technologies, while being mindful of high valuation pressures and market dynamics [3][29].