TF Securities(SH:601162) Ge Long Hui·2025-12-08 00:15Group 1 - The core viewpoint is that the market is currently in a state of fluctuation, but there is a strong belief in the investment opportunities within the core sectors of the computing power industry chain [1] - The overseas computing power industry chain remains highly prosperous, with related companies' financial reports continuously reflecting strong demand related to AI [1] - There is a stronger resonance in the fundamentals of the related industry chain, leading to a sustained positive outlook on investment opportunities in the overseas computing power industry chain [1] Group 2 - The medium to long-term recommendation is to continue focusing on investment opportunities in core sectors related to "AI + overseas expansion + satellites" [1]