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AI算力基建需求高增、應用端商業化逐步落地、國產替代持續深化

AI應用生態閉環加速形成,算力需求表現強勁。電子終端需求方面,7月手機銷量同比下降3.5%,9月蘋果和華為新品發佈會臨近,可關注新機型發佈情況。AR眼鏡、折疊屏等端側AI創新品類具備題材性機會。半導體景氣度維持高位,6月全球半導體銷售額同比增長19.6%,中國半導體銷售額同比增長13.1%,海外不確定性帶來半導體供應本土化提速,未來半導體設備投資、材料國產化率有望持續提升。

流動性預期好轉,科創、賽道主題業績具備中長期比較優勢,關注具備產業邏輯相對扎實的行業,如通信設備、半導體、電子硬體、機器人等。相關的個股建議關注中芯國際(0981.HK),華虹半導體(1347.HK),優必選(9880.HK),舜宇光學科技(2382.HK)等。

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