Shang Hai Zheng Quan Bao·2025-09-25 18:16Group 1 - The core viewpoint highlights a significant structural shift in capital flow from traditional industries, represented by Kweichow Moutai, to innovative sectors, exemplified by CATL, indicating a transition from "sauce fragrance" to "lithium imagination" [1][4] - Kweichow Moutai, once regarded as the "king of A-shares," has seen its market position challenged as CATL's market capitalization reached a peak of 1.8 trillion yuan, reflecting a broader trend of capital favoring technological innovation over traditional consumption [3][4] - The rise of CATL is attributed to substantial investments in research and development, a relentless pursuit of technological innovation, and its leadership position in the global strategic emerging field of power batteries [1][4] Group 2 - The shift in capital direction serves as a powerful value guide, shaping social resource allocation and the aspirations of the younger generation, encouraging talent to focus on fundamental research and key technological breakthroughs [2] - Despite the market fluctuations, the value of traditional industries, represented by Kweichow Moutai, remains irreplaceable, suggesting a future economic landscape where traditional and strategic emerging industries coexist and empower each other [2]