Ge Long Hui·2026-01-16 00:00Group 1 - The core viewpoint of the report is that A-shares are expected to see significant incremental capital by 2026, which may sustain a slow bull market [1] - The first quarter is identified as a peak period for the maturity of time deposits, suggesting that funds may flow from insurance and wealth management channels into the equity market, marking the most abundant time for incremental capital throughout the year [1] - Long-term and medium-term funds are projected to account for about one-third of total capital inflows, becoming a key foundation for micro liquidity in A-shares [1] Group 2 - Public and private equity funds are expected to be the two major areas of marginal improvement, with their allocation preferences potentially influencing market style performance [1] - The main market contradiction in 2026 is anticipated to shift towards verifying economic prosperity and achieving performance results, with long-term funds providing a safety net [1] - Active funds such as public and private equity are likely to further strengthen the dual main line market trend of "technology + resource products," while sector rotation may accelerate [1]