马年开市在即，券商集体看多A股！这些板块值得关注

Core Viewpoint - The A-share market is expected to experience a "slow bull" trend in the Year of the Horse, driven by corporate earnings recovery and a shift from valuation-driven to profit-driven growth, with a focus on technology and domestic demand recovery [1][2][3]. Market Outlook - Historical data shows a 60% probability of the Shanghai Composite Index and ChiNext Index rising on the first trading day after the Spring Festival, indicating a significant "calendar effect" [2]. - Major brokerages have a unified outlook on the A-share market, predicting a stable opening, oscillating upward trend, and a gradual increase in index levels [2]. - Corporate earnings are anticipated to recover, with a projected growth rate of 5%-10% for non-financial A-share companies by 2026, supported by new capital inflows from insurance, foreign investment, and household savings [2][3]. Investment Themes - The focus for investment in the Year of the Horse is on four main themes: technology growth, domestic demand recovery, high-end manufacturing, and low-valuation value stocks [4]. - The AI industry chain is highlighted as a primary investment direction, with expectations that 2026 will mark the year of AI application implementation, expanding from upstream computing power to downstream applications [4][5]. - The robotics sector is expected to see significant growth, with 2026 being defined as the "year of mass production" for humanoid robots, driven by policy support and accelerated commercialization [5]. Sector-Specific Insights - The AI sector is projected to benefit from advancements in computing power, hardware, and applications, with a focus on AI giants' strategic positioning [4][5]. - The low-altitude economy and commercial aerospace are identified as emerging sectors with clear policy direction, potentially becoming "dark horse tracks" in the market [5]. - The robotics industry is anticipated to transition from experimental phases to practical applications, with significant production expected from leading companies in 2026 [5].