In July, the market changed drastically from overcrowded growth to undervalued value, but adjustments in the technology sector stemmed more from loose chips and deleveraging, which did not mean a complete reversal of the AI industry trend. In terms of configuration, priority is given to shipbuilding and non-ferrous sectors where the economy, supply and demand, and prices are jointly verified. AI hardware can be restored from low configuration to neutral, focusing on fields with high certainty such as optical modules and AI servers, and increasing positions in batches after pre-reported orders, cash flow, and stock prices stabilize. Strong sectors such as coal, petroleum and petrochemicals, food and beverage should not catch up in July; upstream resources and high-quality consumer leaders should be selected internally.

In July, the market changed drastically from overcrowded growth to undervalued value, but adjustments in the technology sector stemmed more from loose chips and deleveraging, which did not mean a complete reversal of the AI industry trend. In terms of configuration, priority is given to shipbuilding and non-ferrous sectors where the economy, supply and demand, and prices are jointly verified. AI hardware can be restored from low configuration to neutral, focusing on fields with high certainty such as optical modules and AI servers, and increasing positions in batches after pre-reported orders, cash flow, and stock prices stabilize. Strong sectors such as coal, petroleum and petrochemicals, food and beverage should not catch up in July; upstream resources and high-quality consumer leaders should be selected internally.