Brokerage morning meeting highlights | Brand focus on high-performance certainty targets creating attention on marginal improvement opportunities

Yesterday, the market opened low and closed high, with the Shenzhen Component Index and the ChiNext Index rising more than 1%, and the Sci-Tech Innovation 50 Index rising by 3.82%. The index showed a significant differentiation, with small and micro-cap stocks experiencing a significant pullback. The trading volume in the Shanghai and Shenzhen markets reached 3.28 trillion yuan. From a sector perspective, PCB, optical communication, and other computing hardware stocks rebounded across the board, while the semiconductor industry chain saw another surge. On the downside, the film and television sector struggled throughout the day. By the end of the trading day, the Shanghai Composite Index rose by 0.11%, the Shenzhen Component Index rose by 1.24%, and the ChiNext Index rose by 1.41%. At today's morning meeting of securities firms, CITIC SEC emphasized the valuation inflection point of oil tanker leaders; Guosheng focused on brands with high performance certainty, and manufacturing opportunities for marginal improvement; Huatai highlighted high overseas costs support, suggesting that the future aluminum price should not be pessimistic. CITIC SEC: Focus on the valuation inflection point of oil tanker leaders Straits passage capacity is a key variable long-awaited in the oil shipping cycle. As of the week ending June 12, the US Strategic Petroleum Reserve (SPR) decreased by 8.9 million barrels, with a total inventory of 340 million barrels, accounting for 47.6% of the total SPR capacity, the lowest level since 1984. Geopolitical instability has led major consumer countries to accelerate their pursuit of energy diversity, and control over the straits has led to a decrease in crude oil inventories in major economies, further increasing the demand for energy security and restocking. The sustained impact of restocking may last for more than two years. In the short term, the first stage: fuel oil within the Gulf first flows to oil-deficient regions such as Southeast Asia, with freight rates expected to peak, and factors such as crude oil spot price differentials and supply chain smoothness will be the main influencing factors. Focus on the valuation inflection point of oil tanker leaders. Guosheng: Focus on brands with high performance certainty, manufacturing opportunities for marginal improvement Since the beginning of 2026, the trend of the brand apparel index has been stable, while textile manufacturing has shown a significant decline. On the operational side, domestic retail performance is good, while the manufacturing end faces pressure on profit margins. Focus on brand apparel stocks with performance recovery, and pay attention to long-term investment value in sports shoes and apparel. The overall brand apparel industry in 2026 has entered a channel of operational improvement, cost control implementation, and profitabil...