Xin Lang Cai Jing·2025-12-31 02:08Core Viewpoint - The report from Huatai Securities indicates that the communication sector index will experience fluctuations in 2025, influenced by skepticism surrounding AI computing power narratives and geopolitical impacts, but will gradually return to pricing logic based on industry trends, with AI computing power becoming the main market theme [1] Investment Outlook for 2026 - The company is optimistic about three investment themes for 2026, categorized as "one main and two secondary": 1. Continue to embrace the main theme of AI computing power, focusing on investment opportunities in the domestic and international computing power supply chain [1] 2. The first secondary theme is new productive forces, with the new cycle of the 14th Five-Year Plan starting, and emerging sectors such as commercial aerospace, satellite internet, low-altitude economy, and quantum communication and computing expected to accelerate [1] 3. The second secondary theme is core assets, where leading companies with long-term competitiveness and resilient performance, such as telecom operators, are likely to see valuation enhancement opportunities as market liquidity improves [1]