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华泰证券:交运板块增配低拥挤、低油敏基础设施子板块

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Grammar Points

在……下under/in the context ofHSK 5

This pattern means that an action, judgment, or situation happens under a certain condition, background, or influence. It is common in formal and written Chinese, especially in news and analysis.

"在此宏观背景下,研报调整交运板块推荐顺序,建议增配基础设施子板块。"

"在业内人士看来,制度积累、政策引导与市场内生动力共同作用之下,北交所IPO“增速提质”成为必然选择。"

以……为主mainly rely on / be centered onHSK 4

This structure shows the main component, focus, or basis of something. It means 'to take ... as the main part' or 'to be mainly based on ...'.

"基础设施以内需为主,盈利韧性较强,对油价波动敏感度较低,避险优势突出。"

截至……as of / up toHSK 4

This pattern is used to indicate a time limit or deadline, meaning 'up to a certain date/time'. It is very common in reports, statistics, and formal writing.

"截至3月23日,年内北交所已举行29次上市委会议,远超去年同期,企业过会效率也同步提升。"

越来越……more and moreHSK 3

This pattern expresses a gradual increase in degree or quantity over time. It is used with adjectives, verbs, or descriptions to show an ongoing trend.

"总体来看,越来越多业绩稳健增长、创新特征突出的优质中小企业选择北交所作为上市目标地。"

对……进行 / 对……排序为treat/assess something with 对HSK 5

The preposition 对 introduces the object that an action is directed toward. In formal written Chinese, it often appears in structures like 对……进行分析/调整 or 对……排序为……, meaning 'to carry out an action regarding ...' or 'to rank ... as ...'.

"基于持仓拥挤度、油价敏感性、高股息三重维度,对基础设施子板块排序为:铁路>公路>港口>机场。"

"对油价波动敏感度较低,避险优势突出。"

Key Vocabulary

北交所běi jiāo suǒ
板块bǎn kuàiHSK7

(geology) tectonic plate

基础设施jī chǔ shè shī
油价yóu jià
风险fēng xiǎnHSK5

risk; hazard

研报yán bào
持仓chí cāng
拥挤yōng jǐHSK6

to throng

deHSK1

(used after an attribute when it modifies a noun)

突出tū chūHSK5

to project

duìHSK1

towards; at; for

市场shì chǎngHSK4

(economics) market

zàiHSK1

(of sb or sth) to be (located) at

股息gǔ xī
HSK3

viscount, fourth of five orders of nobility 五等爵位[wu3 deng3 jue2 wei4]

jiāHSK1
升温shēng wēnHSK5

(fig.) to intensify

yuèHSK1

CL:個|个[ge4],輪|轮[lun2]

市委shì wěi
韧性rèn xìngHSK7

toughness

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