盛美股份：国内半导体清洗设备龙头。公司是中国大陆少数具有一定国际竞争力的半导体专用设备提供商。受益于主要客户的积极扩厂、市场份额的持续提升，2019 年公司收入7.57 亿元，同比增长37.5%，2017-2019年收入年均复合增速72.6%；2019 年实现归母净利润1.3 亿元，同比增长82.7%。2019 年公司毛利率与净利率分别为45.1%、21.7%。公司走差异化的自研道路，面向未来持续追求技术先进性，目前已经形成了丰富的产品线，包括清洗设备、电镀设备、先进封装湿法设备、无应力抛光设备、立式炉管设备。

6 月我国官方制造业PMI 50.9%，比上月上升0.3 个百分点。构成制造业PMI 的五大分类指标中，生产指数、新订单指数和供应商配送时间指数均高于临界点，原材料库存指数和从业人员指数均低于临界点。

6 月行业增长8.3%，领先上证综指4.5 个百分点，位列各行业第6。月内以SaaS和IDC为代表的抱团龙头白马标的显著好于板块。进入中期业绩窗口期，信息化企业在疫情后的韧性优势开始体现，订单恢复与业绩展望较好。业绩弹性及超预期机会使得风险偏好对当前估值接纳度进一步提升，预计7 月计算机行业迎来全面上行行情机会较大，可着重持有主线标的，加配补涨标的。

疫情对市场的影响正在逐渐被消化，景气细分龙头上半年表现抢眼。展望下半年，虽然疫情仍有不确定性。但不可忽视的是，一方面疫情加速了云计算、互联网医疗的产业进度；另一方面信创、信安等高景气度细分需求虽有滞后，但投入大概率不会缩减。云计算、信息安全、信创、医疗IT 等景气细分值得重点挖掘，车联网、数字货币等方向有望迎来政策层面或行业发展层面的边际变化，也值得重点关注。

从产业趋势和政策周期角度出发，疫情冲击下的云经济和5G 带来的新一轮科技周期的机会，比如说云计算、车联网。定增新规松绑，成长股迎来外延增长机会。重点公司：宝信软件、泛微网络、网宿科技、卫宁健康、恒生电子、东方财富、中科创达、四维图新。

基于L4 无人驾驶技术的Robotaxi 增长前景广阔，Allied Market Research预计2023-2030 年全球市场CAGR 高达67.8%。海外Waymo、Uber、Yandex，国内文远知行、百度、滴滴等厂商相继入局，Robotaxi 的迅速铺开推动国内外自动驾驶技术的成熟。重点推荐智能驾驶领域的核心标的四维图新、中科创达、德赛西威、千方科技。

顺势而为，紧抓“硬科技”行业，博弈估值高弹性：2020年上半年市场追逐智能制造行业中的“硬科技”，我们认为2020年下半年投资风格难以发生显著变化。若市场大幅震荡，建议紧抓“硬科技”回调加仓机遇，博弈估值高弹性。

Oil and gas remains as one of the most highly valued commodities in the energy sector. In recent years, there has been an increased focus on improving efficiency, and reducing downtime has been a priority for the oil and gas companies as their profits slashed since 2014, due to fluctuating oil prices. However, as concerns over the environmental impact of energy production and consumption persist, oil and gas companies are actively seeking innovative approaches to achieve their business goals, while reducing environmental impact. Additionally, the price of oil reduced by 40%, since hitting four-year highs of above USD 76 a barrel in October 2018, in the United States, nur turing concerns for oil and gas firms. Hence, companies in the oil and gas sector are experimenting with contemporary technologies to increase their efficiency and revenue. By leveraging AI in oil and gas operations, corporations can design algorithms to guide drills on land mass and ocean floor. AI is also been used to increase the safety of gas stations for preventive maintenance. But there have been growing incidences of fires at the gas stations. For instance, a gas station in Arkansas had an accidental fire. Such events can prove to be deadly and destroy gas stations and the area surrounding it. However, intelligent cameras based on AI can access the risk area and lessen the extent of potential damage.