2025年中期投资策略展望十大投资主题系列：中国股市十大投资主题，前沿技术篇

Core Insights - The report emphasizes the optimistic outlook for China's stock market, termed as the "transformation bull market," driven by declining discount rates and favorable economic policies, which create a conducive environment for thematic investments [10][11]. Investment Themes Theme 1: Artificial Intelligence (AI) - AI is identified as a key investment trend with significant characteristics, including a clear industrial logic and vast market potential. The investment path is expected to follow the patterns of "information infrastructure construction," "basic software deployment," "online application explosion," and "restructuring of offline industries" [2][32]. - The AI industry is in an early stage, with the potential for substantial growth as it transitions from overseas mapping and speculative trading to self-sufficiency and industrial chain momentum [24][33]. Theme 2: Embodied Intelligence - The report highlights the rapid commercialization of humanoid robots, with applications expected to accelerate in various sectors such as education, healthcare, and industrial manufacturing. China has a robust manufacturing base and a complete supply chain for humanoid robots [38][39]. - The market for humanoid robots is projected to grow significantly, with sales expected to reach 200,000 units by 2035, driven by increasing demand in both B2B and B2C scenarios [47][48]. Theme 3: Biological Economy and Brain-Machine Interfaces - The biological economy is poised for growth, leveraging advancements in biotechnology, including synthetic biology and gene editing technologies. This sector is expected to meet health, safety, nutrition, and environmental needs [57][59]. - The brain-machine interface industry is still in the research phase, but several companies are making strides in hardware and application breakthroughs, indicating a promising future for this technology [4][62]. Theme 4: 6G Communication - The report anticipates significant advancements in communication technology with the development of 6G, which promises lower latency and higher connection density compared to 5G. This will drive upgrades across the entire industry chain, from materials to applications [3][4]. Market Dynamics - The report notes that the decline in risk-free interest rates and improved investor sentiment are key drivers of market dynamics, facilitating increased market participation and investment opportunities [11][15]. - The government's focus on innovation and technology integration is expected to further stimulate the growth of emerging industries, creating a favorable investment landscape [17][23].