BIDU(US:BIDU) Sou Hu Cai Jing·2026-01-04 04:00Group 1 - The core point of the article highlights the contrasting market movements, with Chinese concept stocks surging by 4% and Baidu soaring by 15%, while gold prices experienced a significant drop of over 4.5% [1][2] - The surge in Chinese concept stocks is attributed to the successful implementation of US-China audit cooperation, which has alleviated delisting risks and encouraged foreign investment [2][3] - Baidu's 15% increase is driven by the announcement of its AI chip company Kunlun's application for independent listing, which is expected to unlock significant value due to its strong market position and order volume [2][3] Group 2 - The drop in gold prices is explained by three main factors: profit-taking after a 70% increase in 2025, a rebound in the US dollar, and increased trading costs due to higher margin requirements [3][4] - The article suggests that the investment theme for 2026 is clear, focusing on following policy directions and investing in hard technology sectors such as AI, high-end manufacturing, and consumer recovery [4][5] - The market logic indicates that sectors with policy support and performance certainty will thrive, emphasizing the importance of focusing on companies with solid technology and real orders rather than engaging in speculative trading [6]