信达澳亚基金总经理方敬新春寄语：策马启新程，笃行向未来

Core Viewpoint - The company expresses confidence in the Chinese economy and capital markets for 2026, highlighting a commitment to high-quality development and investment opportunities [5][20]. Economic Outlook - China's GDP growth target of 5.0% for 2025 was successfully achieved despite multiple challenges, showcasing economic resilience [5][18]. - The central economic work conference has set the tone for 2026, emphasizing "stability while seeking progress, improving quality and efficiency," along with a continuation of proactive fiscal and moderately loose monetary policies [7][20]. Market Insights - The capital market in 2026 is expected to exhibit reduced volatility and structural differentiation, with regulatory guidance helping to stabilize the market [8][21]. - There is an anticipated concentration of funds towards high-quality assets, with core competitive enterprises and high-growth sectors likely to attract market interest [8][21]. - Key investment themes for 2026 include technology growth, particularly in AI applications and semiconductors, as well as opportunities in cyclical recovery and service consumption driven by economic growth [8][21]. Strategic Focus - The company aims to adhere to a "premium, professional, and differentiated" development strategy, focusing on research and investment, product layout, and risk management [9][22]. - Plans include strengthening the research talent pool and enhancing research depth in core areas such as technology, pharmaceuticals, and new energy [10][23]. - The company will diversify its product offerings, emphasizing "fixed income+" and quantitative "index+" strategies to cater to varying risk preferences and investment needs [11][24]. - A comprehensive risk management system will be established to ensure strict adherence to risk budgets and investment styles, while enhancing client advisory services [12][25]. Conclusion - The company is committed to prioritizing investor interests and maintaining a professional research-driven approach to navigate investment opportunities in 2026 [13][26].