SINOLINK SECURITIES(SH:600109) Xin Lang Cai Jing·2025-12-26 05:11Group 1 - The core point of the article is the personnel change in the securities research sector, specifically the move of Liu Gaochang, the former chief analyst of computer research at Guosheng Securities, to Guojin Securities as the deputy director and head of computer and technology research [1][4]. - Liu Gaochang aims to integrate research capabilities with the existing team at Guojin Securities to provide enhanced research services to institutional clients [1][4]. - Liu predicts that 2026 will be a remarkable year for the technology industry, with advancements in model capabilities driven by algorithms and infrastructure [1][4]. Group 2 - Liu emphasizes that AI smartphones will support and reshape data and workflows, fundamentally changing personal and corporate work and life [2][4]. - He asserts that the focus remains on computing power, with new directions in this area showing a "very high slope" characteristic, indicating significant market space and supply-side catalysts [2][5]. - Liu identifies the aerospace sector as one of the most exciting areas within the computing power system and notes that subfields like storage and liquid cooling have entered an "acceleration phase" in performance [2][5]. Group 3 - In application terms, Liu mentions that as models continue to iterate, robots are becoming increasingly useful, and 3D printing is showing acceleration signals across various sectors due to traditional processes nearing their limits [2][5]. - There was a notable exodus of key personnel from Guosheng Securities in mid-November, including Liu Gaochang, indicating potential instability within the firm [2][5].