汇正财经2026年市场展望：AI 终端成资金焦点，储能行业或迎爆发期

Core Viewpoint - The global capital markets are expected to experience a fluctuating and divergent trend in 2025, while the A-share market is anticipated to rise due to steady domestic economic recovery and targeted industrial policies [1] Macro Economic Outlook - The Chief Investment Officer of Dongwu Futures, Wu Zhaoyin, expressed a clear optimistic outlook for the A-share market, stating that the core support factors for long-term upward movement remain unchanged, including policy support, stable funding, and valuation [1] - Continued policy support aimed at stabilizing growth and deepening capital market reforms is expected to provide a solid foundation for market operations [1] - The domestic low-interest-rate environment is likely to remain stable, further boosting the valuation levels of risk assets like stocks [1] - A-shares are currently undervalued compared to major global markets, with lower overall price-to-earnings and price-to-book ratios, indicating significant valuation attractiveness [1] Industry Opportunities - The core topic of the strategy meeting was the exploration of opportunities in various industries, with artificial intelligence (AI) being highlighted as a key driver of global economic development [2] - Economist Ma Guangyuan emphasized the need for market participants to adopt a "super Moore's Law" mindset, recognizing that while the implementation cycle of disruptive technologies may be longer than expected, their impact will be profound once they reach an explosive growth phase [2] - The Chief Researcher at Huizheng Finance, Gu Chenhao, predicted that 2026 will be a value realization period for AI applications and terminal fields, with significant capital investment leading to a positive feedback loop between hardware development and software application demand [2][3] Specific Industry Insights - Gu Chenhao anticipates that funding will focus on the AI terminal sector in 2026, with robotics expected to reach a critical commercialization milestone [3] - The storage industry was also a hot topic, with Chief Strategist Yang Shoujun noting that it is entering a rapid development phase characterized by three major trends: a shift to long-duration storage, intelligent management enabled by AI, and improved market mechanisms supported by ongoing policy incentives [3] Investment Strategies - The roundtable discussions highlighted long-term industrial layouts and short-term market operations, identifying investment lines concentrated in quantum technology, nuclear fusion, biomanufacturing, semiconductor domestic substitution, and commercial aerospace [4] - For the upcoming spring market, participants advised aligning investments with policy directions and fundamental performance, focusing on sectors like embodied intelligence, semiconductors, storage, and lithium batteries that demonstrate performance realization capabilities [4] - Investors were encouraged to avoid short-term trading strategies and instead adopt a dynamic position management approach, maintaining long-term holdings to capture the benefits of industrial growth [4]