In the second half of the year, the investment strategy of the machinery industry will focus on four themes: the industries that focus on the improvement of the industrial prosperity; the listed companies that are concerned about the continued improvement of international competitiveness; the import substitution trends of domestic equipment; and the revaluation of high-quality companies. Most of the sub-sectors of machinery are in the growth phase of the industry life cycle. Under the general trend of the transfer of manufacturing industries from the world to China, the prosperity of the machine tool industry, shipbuilding industry, forklift industry and international competitiveness will continue to increase. The level of valuation of companies that are likely to increase in terms of growth and industry concentration will also increase.