CITIC Securities: Undervalued smart application targets and dividend assets continue to be favored, and the high-end manufacturing sector in the Hong Kong stock market is growing stronger.

CITIC Securities' research report pointed out that the humanoid robot sector continues to differentiate, with previously well-performing targets generally experiencing pullbacks. The market is focusing on undervalued smart applications with relatively safety margins. In the medium to long term, we recommend not focusing only on humanoid robots, but also explore investment opportunities in "AI + robots," including sensors, dexterous hands, robot dogs, and exoskeleton robots. Against the background of interest rate cuts, dividend assets with high dividend yields continue to be favored by the market. The overseas listing sector continues to see new companies proposing H-share issuance plans, coupled with an increasing number of startup companies listing in Hong Kong. It is expected that the H-share high-end manufacturing sector will continue to grow, attracting more global capital.