“A股新高可期”，东方财富证券重磅发声！

Core Viewpoint - The 2026 strategy conference held by Dongfang Caifu Securities emphasizes the ongoing asset revaluation logic in China, with expectations for increased allocation to equity markets by both domestic and foreign investors, indicating a potential for new highs in A-shares [2][8]. Group 1: Economic and Market Outlook - The year 2026 marks the beginning of the "14th Five-Year Plan," focusing on the transformation towards intelligent, green, and integrated industries, which is central to national development strategy [5]. - The application of AI is seen as a pivotal factor in determining China's new position in the global economy, with expectations for per capita GDP to exceed $20,000 by 2030 and a securities rate surpassing 200% [7]. - The macroeconomic environment is expected to stabilize, supported by proactive fiscal policies and continued monetary easing, alongside significant project construction under the "14th Five-Year Plan" [11]. Group 2: Investment Opportunities - The chief strategist of Dongfang Caifu Securities, Chen Guo, forecasts a "confidence revaluation bull market" in 2025, with corporate earnings expected to exceed market expectations and a recovery from the previous downward cycle [9]. - Key areas of focus for 2026 include potential outperformance in corporate earnings, advancements in AI, and the expansion of pragmatic cooperation between China and the U.S. [9]. - The integration of AI into various sectors is anticipated to create a personalized wealth management experience, enhancing service models from standardized to deeply customized offerings [11].