东吴基金刘元海：逐步关注AI应用投资机会

Group 1 - The A-share market is currently experiencing a strong performance, particularly in technology stocks driven by AI, with expectations for continued growth over the next 3-5 years [1][2] - Liu Yuanhai, the Director of Equity Investment at Dongwu Fund, is optimistic about the A-share market for the second half of this year and into 2026, predicting a potential upward trend [1] - The current low interest rate environment in China is expected to stabilize value stocks, while growth sectors like AI and innovative pharmaceuticals are anticipated to have significant development potential [1] Group 2 - The core investment theme in the A-share market is expected to focus on embracing AI, with opportunities centered around AI computing power, which has shown strong performance in 2023 [2] - Liu believes that 2025 could mark a significant year for the explosion of AI applications, including smart driving in automobiles, AI hardware, humanoid robots, and internet companies that actively adopt AI [2] - The automotive smart driving sector is projected to be a promising investment opportunity over the next two to three years, with current valuations of key companies in this area being relatively low historically [2]