华夏基金：AI周期尚未结束 正逐步走向深入

Core Insights - The Chinese capital market's interest in AI is expected to continue rising in 2025, with events like the "DeepAlpha" dialogue organized by Huaxia Fund aimed at helping investors identify valuable opportunities amidst market noise [1] - DeepTalk, a professional content brand launched by Huaxia Fund, aims to transform professional research capabilities into perceivable value for users, establishing a comprehensive content ecosystem that includes live broadcasts, videos, audio, and articles [1] - Notable economist Liu Yuhui emphasizes the importance of forming a strong industrial ecosystem for the success of the current AI technological revolution, suggesting that China's robust implementation capabilities position it well to achieve this economic closed loop [1] Group 1 - Huaxia Fund's macro strategy researcher Zhu Qing believes that the macro trend for 2026 will focus on the continuation of structural prosperity in industries and a reallocation of funds towards equity assets, with AI being a high-growth sector [2] - Zhu also notes that while domestic equity asset valuations have increased, there remains motivation for continued allocation towards equities, indicating a potential "profit realization period" in 2026 [2] - The investment strategy should focus on performance certainty and the sustainability of industrial logic, with an emphasis on AI and the addition of "dividend-like" assets for portfolio stability [2] Group 2 - Despite the impressive performance of the tech sector in 2025, Huaxia Fund analysts believe the AI cycle is not over and is gradually deepening, with significant investment opportunities still emerging [2] - Fund manager Gu Xinfeng draws parallels between the development of mobile internet and the current AI progress, suggesting that AI is in its "first half," with its potential to empower various industries just beginning [2]