CITIC Securities: In September, the focus of our investment will continue to be on resources, innovative drugs, consumer electronics, chemicals, gaming, and military industries.

CITIC Securities Research Report indicates that it will focus on analyzing key events and allocation clues worth paying attention to in September. Firstly, the possible interest rate cut by the Fed is expected to strengthen the weak US dollar environment, which will trigger a new round of catalysis for resource products that have been in a strong position, especially precious metals and copper, potentially accelerating the market for non-ferrous metal sectors. Secondly, as Apple and META hold their consecutive conferences in September, Apple's end-side AI and META's AR glasses may bring about a new round of more sustainable trends in end-side devices and end-side AI ecosystems, continuing the current hype around cloud computing AI, particularly the supply chain of consumer electronics. Thirdly, signs of anti-"involution" will gradually emerge in three areas: industries with large capital expenditure intensity over the past two years and signs of marginal reduction, industries that have shown signs of self-discipline/policy implementation, and industries that balance internal anti-"involution" with external demand for profit, relying on quotas to continuously improve profit margins. Finally, it is expected that the number of innovative drug catalyst events in September will significantly increase, and the recent technological shift has also cleared out short-term money chasing trends in the sector, with innovative drugs expected to continue to rise after this round of adjustments. In terms of allocation, it is recommended to continue focusing on resources, innovative drugs, consumer electronics, chemicals, gaming, and military industries in September.