走出阵痛期，业绩企稳估值回升，环保行业迎戴维斯双击。环保行业估值处于历史底部。资本市场优质环保公司稳健快速发展优于行业。固废板块增速较快，水板块稳健增长（营业收入）。环保行业利润率企稳回升。

Safes and vaults are secure storage systems wherein valuable items, such as money, documents, records, and others, can be stored. These are intended to protect the contents from unauthorized use, theft, natural disasters, fire, and others. They usually comprise metal boxes made up of thick metals, making it difficult to break them by force or to protect them from fire breakouts. In addition, these safes and vaults require passcodes, numerical pins, or passwords to open them. This report features information on the safes and vaults market offered by key vendors. Furthermore, it highlights the strategies of key players to improve the market share & sustain competition and an in-depth analysis across North America, Europe, Asia-Pacific, and LAMEA has also been included.

5G communication technology is characterized by extraordinary speeds, low latency, and greater transmission density, which is fit to justify the requirements of several military applications. In the defense sector, the superior characteristics of 5G network are anticipated to provide new opportunities for military units undertaking defense operations to make better decisions in risky setups. It will increase the capabilities of military drones and combat robots by providing them the ability to recognize, follow, and target individuals on the basis of facial identification and other features. Moreover, 5G will offer more capabilities to the military when combined with other innovations like the defense cloud and artificial intelligence.

业绩期后消息真空期，板块以盘整为主要基调，但不乏新进投资人积极布局。我们坚定看好板块中长期发展，建议积极拥抱行业黄金时代。我们重申“长期看资源、中期看能力、短期看增长”的选股逻辑。