Core Viewpoint - Traditional companies with strong fundamentals and low valuations are becoming the focus of public fund research, as they present opportunities for valuation switching in the current market environment [1][10]. Group 1: Investment Strategy - Public fund managers are increasingly researching traditional sectors, seeking companies that can leverage new technologies for growth, indicating a shift towards "old trees sprouting new buds" [3][12]. - The strategy involves identifying traditional companies that have the potential to transition into emerging sectors, thus benefiting from valuation increases [4][11]. Group 2: Fund Research Focus - Recent public fund research has targeted traditional industries such as software, electronics, machinery, and energy, with specific companies like 聚杰微纤 and 广联达 being highlighted for their potential in new growth areas [3][5]. - Funds are particularly interested in how these traditional companies are positioning themselves in relation to new technologies, such as AI and robotics, which could trigger valuation shifts [4][6]. Group 3: Market Dynamics - The current market environment makes it challenging to invest heavily in new high-valuation stocks, leading funds to explore undervalued traditional companies that may offer lower entry points into new markets [6][10]. - The performance of traditional companies transitioning into new sectors has been notable, with examples like 医脉通 demonstrating significant returns after successfully shifting their business models [7][8]. Group 4: Future Outlook - As 2024 earnings reports are released, traditional companies with stable fundamentals and low valuations are expected to attract more investment, driven by their potential for business model transformation and valuation switching [12].

在人形机器人、AI智能硬件、电动车需求趋势火爆之际，头部公募基金公司另辟蹊径，选择在"卖铲子"领 域进行举牌操作。 东岳集团在2024年中期业绩报告中披露，截至2024年6月30日，集团实现营业总收入72.6亿元，同比增长 0.87%。净利润达到3.08亿元，同比增长8.38%，毛利率为19.83%。中国市场贡献了84.84%的收入，而国际市 场中，巴基斯坦、越南、尼日利亚、土耳其的收入占比分别为0.34%、0.36%、0.36%、0.48%。在地区分布 上，西亚中东地区的主要客户为阿联酋，收入占比为1.20%；美洲市场的核心客户为美国，收入占比为 1.47%；日本和韩国的收入占比分别为2.19%和2.35%；欧洲的收入占比为2.70%。 香港联交所最新交易信息显示，易方达公司日前在港股市场增持新材料龙头——东岳集团，后者为全球最大的 PTFE材料供应商，由于PTFE材料相比之前人形机器人所使用的PEEK材料，具有更低的成本和更高的性能， 因此被视为推动人形机器人赛道实现大规模量产的关键替代材料。 易方达基金此次南下举牌PTFE材料供应商，或是通过"卖铲子"的逻辑来规避机器人赛道拥挤问题，与此同 时，部分专注 ...