Industry Notes / August–December allocation / Chapter 3 of 3 · Table
Sector order
Three tiers: core, torque, ballast
| Dimension | Tier | Directions | One line |
|---|---|---|---|
| Core | Domestic AI compute / memory / resources / chemicals / grid+storage export | Earnings + industry trend confirmed | |
| Torque | Innovative drugs/CXO / brokers / defense-space / humanoids / insurance | Inflection, still light positioning | |
| Ballast | Coal / banks / oil / utilities / transport | Cut drawdowns, not chase alpha | |
| Lower bar | Property chain, some consumption | Tradeable bounces; no confirmed turn |
Tier one must be holdable; tier two favors payoff over hit rate; tier three cuts drawdowns. Property-chain and some consumption lack a fundamental turn—policy windows are trades at best.
Source：A股2026年8月交易逻辑与8-12月配置路线图 §五；公开中报景气数据整理
Research notes, not investment advice.