288 foreign institutions conduct 1,237 A-share research visits since Q4

The breadth of foreign research activity — spanning computing hardware, grid equipment, energy storage and high-end equipment — points to a sector-specific rather than index-level interest, with institutions screening for earnings delivery and post-pullback valuations rather than making a broad market call. The presence of both bullish sell-side views and buy-side names on research lists suggests conviction is being built company by company. Whether that research translates into actual positioning, and whether the focus areas stay concentrated in these industrial and tech themes, is the open question to watch.