Mei Ri Jing Ji Xin Wen·2025-12-31 00:21Core Viewpoint - Huatai Securities highlights that the communication index has experienced significant volatility in 2025 due to concerns over AI computing power narratives and geopolitical impacts, but is expected to gradually return to pricing logic based on industry trends, with AI computing power becoming the main market theme [1] Investment Themes for 2026 - The company is optimistic about three main investment lines for 2026: 1) Embrace the AI computing power theme, focusing on investment opportunities in both domestic and international computing power supply chains [1] 2) The first secondary theme is new productive forces, with emerging sectors such as commercial aerospace, satellite internet, low-altitude economy, and quantum communication and computing expected to accelerate development due to the initiation of the 14th Five-Year Plan [1] 3) The second secondary theme is core assets, where leading companies with long-term competitiveness and resilient performance, such as telecom operators, are anticipated to see valuation enhancement opportunities as market liquidity improves [1]