2026-01-21 02:10Summary of Conference Call Notes Industry and Company Involved - The report focuses on the investment strategies and performance of various sectors, particularly in the machinery, electronics, and renewable energy industries. - Key companies mentioned include 博盈特焊 (Boyi Welding), 天华新能 (Tianhua New Energy), 广联航空 (Guanglian Aviation), 京东方A (BOE Technology Group), 三峡旅游 (Three Gorges Tourism), 超捷股份 (Chaojie Co.), 福元医药 (Fuyuan Pharmaceutical), and 宁波银行 (Ningbo Bank) [1][1][1]. Core Insights and Arguments - The report highlights two main functions: timely understanding of industry trends and significant excess returns from researched stocks [1]. - Recent fund manager research trends indicate a focus on the following sectors and companies: - Growth: Machinery, Electronics, Renewable Energy; top companies include 博盈特焊, 天华新能, 广联航空 [1]. - Balanced: Machinery, Renewable Energy, Non-ferrous Metals; top companies include 天华新能, 博盈特焊, 三峡旅游 [1]. - Value: Machinery, Electronics, Military Industry; top companies include 京东方A, 博盈特焊, 广联航空 [1]. - TMT (Technology, Media, Telecommunications): Machinery, Electronics, Renewable Energy; top companies include 博盈特焊, 天华新能, 广联航空 [1]. - Manufacturing: Machinery, Renewable Energy, Automotive; top companies include 天华新能, 广联航空, 超捷股份 [1]. - Consumer: Pharmaceuticals, Electronics, Food and Beverage; top companies include 三峡旅游, 福元医药, 奥浦迈 [1]. - Cyclical: Non-ferrous Metals, Chemicals, Renewable Energy; top companies include 盛达资源, 天华新能, 亚太科技 [1]. - Financials and Real Estate: Automotive, Banking; top companies include 超捷股份, 宁波银行, 光庭信息 [1]. Additional Important Insights - An equal-weight index constructed from the stocks researched over the past six months shows a cumulative increase of 21% in H2 2025, significantly outperforming the Shanghai Composite Index's 15% increase [1]. - All types of fund research stock indices exhibit excess returns, particularly in the balanced, value, consumer, and financial real estate sectors compared to their respective fund averages [1].