淡水泉赵军:2026年最核心机会在“预期差”,中国AI产业链竞争优势需要更广泛挖掘
券商中国·2026-01-17 02:09

Core Viewpoint - The core opportunity for 2026 lies in capturing the "expectation gap" in various industries, as market logic shifts from valuation recovery to profit-driven strategies [2][3]. Group 1: Market Outlook - Liquidity is identified as the most certain friendly factor for the stock market in 2026, with potential for increased stock allocation from both domestic and foreign investors [2][3]. - Investor sentiment towards Chinese assets is expected to warm up, particularly as the market becomes desensitized to macroeconomic and geopolitical tensions [2][3]. - The market logic is anticipated to shift focus from valuation recovery to profitability, necessitating a more detailed analysis of different industries [2][3]. Group 2: AI Market Opportunities - The AI sector is viewed as a critical area for investment, with a focus on identifying segments where supply is tight and market recognition is insufficient [4][5]. - China is seen to have competitive advantages in AI applications, particularly in domestic markets, with strengths in power, manufacturing, and human resources [4][5]. - Key application areas for AI include autonomous driving and robotics, with significant potential for deep integration across various industries [5][6]. Group 3: Innovation in Pharmaceuticals - The innovative pharmaceutical sector is expected to continue presenting strong opportunities in 2026, driven by China's talent pool and efficiency in drug development and clinical trials [6][7]. - China's competitive advantages in this field are leading to increased global collaborations and business development opportunities [6][7]. Group 4: New Consumption Trends - The consumption sector is shifting towards structural opportunities rather than total volume logic, with a focus on sustainable consumption trends [7]. - "Self-indulgent" consumption is identified as a long-term trend, with higher potential for growth and investment [7]. - The importance of understanding underlying data and company capabilities is emphasized to identify opportunities beyond market recognition [7].