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<Research>Ping An Securities Recommends Eyeing 3 Key Themes amid Spreading 'Anti-Involution' Rally
According to Ping An Securities' research report, the "anti-involution" drive continues to gain traction. After the SSE Composite Index broke above the 3,500 mark, ma...
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<Research>Ping An Securities Recommends Eyeing 3 Key Themes amid Spreading 'Anti-Involution' Rally
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According to Ping An Securities' research report, the "anti-involution" drive continues to gain traction. After the SSE Composite Index broke above the 3,500 mark, market turnover further expanded, boosting the "profit-making" effect in A-shares. The SSE Composite Index rose by 1.1%.

On the industry front, nearly 90% of the Shenwan primary industry indices posted gains, with real estate leading the way (up 6.1%). Steel, non-bank financials, building materials, IT, media, and power equipment also delivered solid returns (average gains of 2.5-4.5%), while banks and coal saw slight pullbacks.

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Structurally, Ping An Securities recommended focusing on three main themes: technology growth sectors (defense, semiconductors, and innovative pharmaceuticals) that are benefiting from both domestic and international demand; sectors like new energy, building materials, and traditional cyclicals, which are set to improve thanks to the "anti-involution" catalyst; and financials (banks/ non-bank financials) that stand to gain from financial reform and opening-up and offer attractive high dividends.

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