摩根资产管理中国权益团队展望2026年：锚定中国优质企业全球竞争力

Group 1 - The core viewpoint of the article emphasizes the structural opportunities in the Chinese equity market for 2026, driven by the global competitiveness of high-quality Chinese enterprises and the ongoing long-term valuation reassessment of Chinese assets [1] - Morgan Asset Management's China Equity Investment Team suggests that the market will present structural opportunities in 2026, as international investors reassess the allocation value of Chinese assets [1] - The investment strategy should focus on stable growth in industrial demand and sustainable cash flow, moving beyond traditional frameworks of "new and old industries" [1] Group 2 - The balanced growth team leader at Morgan Asset Management believes that the technology growth style will continue to show relative advantages in 2026, driven by the ongoing transformation of the economy and substantial capital expenditure from both domestic and international tech leaders [2] - The focus is on identifying quality companies with sustainable growth potential and reasonable valuations using a "value growth" strategy, particularly in the context of expected economic recovery and corporate profit rebound [2] - The balanced and value team leader highlights two key opportunities: cyclical industries benefiting from supply constraints and cash flow optimization, and high-end manufacturing companies expanding into overseas markets [2] Group 3 - The growth team manager at Morgan Asset Management is optimistic about the lithium battery and energy storage industry, noting that energy storage is becoming a core demand driver, with significant improvements in supply-demand dynamics [3] - There is a strong focus on AI-related hardware and software investment opportunities, with an emphasis on tracking the progress of application implementation and business closure [3] - The trend of ETF development is also highlighted, with a focus on "barbell" allocation strategies, and the establishment of technology-themed and dividend-themed ETFs in the A-share and Hong Kong Stock Connect markets [3]