Zhong Zheng Wang·2025-08-26 14:00Core Insights - The forum hosted by CITIC Securities focused on the development, opportunities, and outlook of the equity market, covering various cutting-edge industries such as pharmaceutical innovation, embodied intelligence, autonomous driving, and hard technology innovation [1][2] - CITIC Securities highlighted the significant role of the equity market in promoting the transformation of economic dynamics and supporting high-level technological self-reliance in China [1] Group 1: Market Trends - The equity investment market is gradually returning to a state of heightened activity, with expectations that it will serve as an "engine" for the transformation of economic dynamics and a "catalyst" for optimizing resource allocation [1] - The trend of "localization as the main body and state-owned capital as the main guide" in fundraising continues to strengthen, with patient capital's market position expected to enhance further [2] Group 2: Investment Strategies - The investment approach is increasingly focused on "early-stage and small-scale" investments, particularly in the "new quality innovation" sectors [2] - Post-investment management is evolving, with service content shifting from virtual to real, continuously upgrading the ways to empower enterprises [2] Group 3: Market Outlook - The Chinese equity market is anticipated to progress through a "refining fire" of valuation reshaping and institutional clearing, supported by stable economic operation, top-level policy driving, and technological innovation [2] - The dual support of policy protection and technological innovation is expected to usher in a new era of high-quality development for the equity market [2]