Regarding the logistics and mobility industry's investment strategy for the second half of the year, CITIC Securities pointed out that looking ahead to the second half of the year, the strength of reform policies and transmission on the profit side may gradually become apparent, and a procyclical recovery may become one of the main lines. Recommended attention: express delivery, cross-border logistics, and hazardous logistics. The conversion of old and new kinetic energy into the Chinese economy is beginning to show efficiency, and the new steady state is expected to stimulate demand for bulk oil dispersion products. Supply-side constraints continue to emerge, leading oil transportation, aviation, and dry bulk cargo cycle leaders transmitted from the demand side to the price side, driven by profit improvement or becoming the main observation indicator. At the same time, policies such as the new “National Nine Rules” strongly guide dividends. National central enterprises pay more attention to market value assessments, enhance return on investment, and dynamically explore high-quality leaders with attractive dividend rates in infrastructure (highways, ports, logistics parks, railways), logistics supply chains (freight forwarding, bulk supply chains), and shipping (containers, oil transportation).