Morning meeting highlights of securities firms | Normalization of IPO acceptance, highlighting the hard technology attributes in the acceptance of the Science and Technology Innovation Board

Yesterday, the A-share market opened low and closed high, with the ChiNext Index and the Shenzhen Component Index both rising by over 1%, and the Science and Technology Innovation 50 Index rising by 4.69%. The total turnover of the Shanghai and Shenzhen markets was 3.09 trillion yuan, an increase of 27.1 billion yuan from the previous trading day. Looking at the sectors, the PCB concept flourished, the semiconductor industry chain was active, with storage chips and semiconductor equipment leading the gains, the glass substrate concept continued to be strong, and the supercapacitor concept saw a surge in midday trading. By the close, the Shanghai Composite Index rose by 0.4%, the Shenzhen Component Index rose by 1.31%, and the ChiNext Index rose by 1.56%. At today's brokerage morning meeting, Guotai Haitong stated that the acceptance of IPOs in Shanghai and Shenzhen has become normalized, and the hard technology attributes of the Science and Technology Innovation Board are highlighted; China Securities Co., Ltd. suggested increasing allocation to the medical device sector in 2026; CICC believes that the Fed will not raise or lower interest rates this year, but warns of the increasing risk of a rate hike next year. Guotai Haitong: Acceptance of IPOs in Shanghai and Shenzhen has become normalized, highlighting the hard technology attributes of the Science and Technology Innovation Board Since 2026, the acceptance pace of the Shanghai and Shenzhen markets has been steadily increasing. As of June 15th, a total of 53 companies have been accepted, a significant increase from the 16 companies accepted during the same period in 2025. Among the 16 companies accepted by the Science and Technology Innovation Board, 10 are currently not profitable, distributed in industries such as commercial aerospace, semiconductors, and biomedicine, highlighting the hard technology attributes of the Science and Technology Innovation Board; of the 25 companies accepted by the ChiNext Board, 2 are non-profit companies, with Leju's Intelligent being the first company to choose to use the fourth set of listing standards on the ChiNext Board. The emphasis on hard technology attributes reflects the A-share market's shift from a "profit-oriented" approach to a system upgrade that embraces hard technology, long-term capital support, and protection of key technologies. China Securities Co., Ltd.: Suggests increasing allocation to the medical device sector in 2026 It is suggested to increase allocation to the medical device sector in 2026. In the short term, it is advisable to seize the opportunity for performance improvement and valuation recovery of stocks with improved performance in 2026. Several leading companies in the medical device industry's sub-segments will accelerate their growth in 2026. It is also recommended to focus on new technological directions such as surgical Siasun Robot & Automation, brain-machine interfaces, and other technological breakthroughs and commercialization, which are expected to continue to fuel the heat of the sector. In the long term, investment opportunities in the medical device sector come from innovation, internationalization, and merger and acquisition integration. The sector's innovative and internationalization capabilities are being recognized, and valuations are being restructured. CICC: Maintains its prediction that the Fed will not raise or lower interest rates this year, but warns of the increasing risk of a rate hike next year The Fed's June meeting kept interest rates unchanged, in line with market expectations. The biggest change in this meeting is the reform. The monetary policy statement has been greatly simplified, with forward guidance removed, aiming to reduce the Fed's intervention in the market. More importantly, the establishment of five working groups on communication, the balance sheet, data, productivity and employment, and inflation frameworks, reshaping the policy framework from basic principles, laying the groundwork for a conservative and market-oriented policy approach in Washington. The assessment of the balance sheet ranks second, indicating that balance sheet reduction remains a core inclination. In terms of policy for the year, Washington did not provide a clear guidance, but the dot plot clearly turned hawkish: the mean forecast predicts one rate hike during the year, reflecting stable employment and high inflation, with anti-inflation becoming a focus. CICC maintains its prediction that the Fed will not raise or lower interest rates this year but warns of the increasing risk of a rate hike next year. If the U.S. economy continues to strengthen under the traction of AI capital spending and achieves a comprehensive recovery, the possibility of monetary tightening cannot be ruled out. This article is reprinted from "Cailian Press," GMTEight Editor: Liu Jiayin.