Galaxy Securities of China: In November, sectors traded sideways and consolidated, suggesting to buy on dips of leading stocks with fundamental support.

China Galaxy Securities pointed out that in November, the artificial intelligence sector maintained a fluctuating trend, with a slight decline and continuous shrinking trading volume. We believe that this was mainly due to the impact of the decline in US technology stocks and the overall market environment. Nvidia announced third-quarter earnings exceeding expectations, but stock prices performed poorly, stemming from market concerns about the AI bubble and Google's TPU impact. In addition, with the completion of the disclosure of third-quarter reports of listed companies, entering a period of performance and policy vacuum, the sector lacks catalysts, and some individual stocks have short-term thematic trading opportunities, but they are not sustainable. At the current point, we still recommend focusing on sub-sectors and leading companies with performance support in the artificial intelligence sector, and suggest buying on dips.