SIASUN(SZ:300024) Xin Lang Cai Jing·2025-12-11 06:17Core Viewpoint - The A-share market is expected to experience relative fluctuations towards the end of the year, with anticipation for new policies and signals that may influence market direction for the upcoming year [1][3]. Group 1: Market Outlook - After the significant rise in the first three quarters, various sectors have shown substantial performance, particularly in the TMT sector, which is currently experiencing high levels of institutional holdings and crowded trading [1][3]. - The overall sentiment in the AI sector remains strong, suggesting continued interest and investment potential [1][3]. Group 2: Investment Focus - The company will actively focus on growth stocks, particularly in the following areas: - The Hong Kong technology and internet sector, which has reasonable valuations post-adjustment [1][3]. - Sub-industries benefiting from AI technology, including hardware infrastructure, robotics, intelligent driving, and AI edge applications [1][3]. - Growth-oriented consumer sub-industries, such as innovative pharmaceuticals, gaming, and overseas consumer products [1][3]. Group 3: Robotics Sector - The robotics sector is anticipated to see significant catalysts from now until the first quarter of next year, including the launch and mass production plans of new-generation robots by leading overseas companies and the listing processes of domestic leading robotics firms [4]. - Both industry and policy developments are expected to progress, indicating that the sector may enter a phase of accelerated mass production, which is worth close attention [4].