平安基金2026年投资策略会：布局科技与周期双主线

Group 1 - The core theme of the Ping An Fund's 2026 investment strategy conference is "Starting a New Journey," focusing on opportunities in technology innovation and the supply-demand rebalancing of cyclical products [1] - The technology sector emphasizes hardware innovation driven by high growth in global AI capital expenditure and investment opportunities in the domestic semiconductor industry, supported by local AI demand [1][8] - The cyclical sector suggests focusing on products with good supply constraints and moderate demand recovery [1][8] Group 2 - Ping An Fund has upgraded its research and investment system, showcasing a platform-based approach that includes a unified philosophy, dual drivers, multiple strategies, and a genuine mechanism to enhance core competitiveness and provide stable long-term returns for investors [4] - The investment director of the equity department at Ping An Fund anticipates a continued upward trend in the market due to supportive policies, moderate economic recovery, ample liquidity, and improved external conditions [4] - The expected drivers for equity asset growth in 2026 will primarily come from profit-driven and industry-catalyzed opportunities [4] Group 3 - In the technology sector, it is noted that global AI capital expenditure is expected to reach $600 billion in 2026, with a compound annual growth rate (CAGR) of 31% projected from 2024 to 2030, indicating significant growth potential [8] - The cyclical sector is seeing improvements in supply-side optimization, with a focus on chemical and industrial metal products due to healthy supply constraints and moderate demand recovery [8] - The AI technology revolution is expected to drive increased capital expenditure in new infrastructure, providing strong support for commodity prices, particularly in the copper and aluminum industries [9]