[Guotou Machinery] Tech Stocks Stabilize and Rebound, Buy 'Certainty and High Sharpness' 20260727

English summary

Following the previous note, CXMT's listing landed smoothly, and the short-term market feared shock risk is gradually releasing. In the medium term, 'the fundamentals of AI and tech assets remain certainly positive'. #Looking into the second half of the year, the main line of the machinery sector still cannot avoid tech assets. Core sectors are expected to see a recovery after significant pullbacks, with key targets having more than 1x upside. Previously, we also summarized several stock selection clues for the market. Standing at the current position, the cost-effectiveness is more prominent. Focus on 'certainty + high sharpness' directions: 1. Consumables chain with both volume and price rising: 1) PCB drill bits, Rubin gradually entering ramping period, 26Q3 industry is expected to enter a resonance stage of significant volume and price increases, profit slope有望大幅上扬, 27 years remains a year of confirmed demand explosion. Dingtai continues to deliver same-cycle and sequential performance growth, and second-tier companies are currently in capacity ramp-up, with greater profit elasticity next year. Key companies: #Oukeyi/Dingtai/Minbao/Huarui, etc.;…