Galaxy Securities released its mid-year 2026 A-share investment outlook, recommending three main themes for the second half of the year, according to 36Kr. First, it highlighted AI “infrastructure,” citing a resonance between expanding overseas AI capital expenditure and China’s new infrastructure investment, which it said is accelerating construction of underlying facilities such as computing power, communications and power systems. Second, it pointed to cyclical and manufacturing sectors, saying imported inflation could lift the price center, “anti-involution” measures could improve supply dynamics, and demand could recover alongside new infrastructure and manufacturing companies’ overseas expansion. Third, it said dividend-focused sectors may see a phased rebound as part of portfolio rotation and rebalancing, and suggested focusing on areas with expected earnings improvement and stable, sustainable dividends.