A-share Market Opening Express: the three major stock indexes collectively opened lower, with AI glasses and other sectors leading the decline.

The three major A-share stock indexes collectively opened lower, with the Shanghai Composite Index down 0.09% and the ChiNext Index down 0.26%. In terms of the market, brain-machine interfaces, diamond cultivation, and AI glasses were among the top decliners. Future market analysis: Huaan: High-elastic growth technology is gaining momentum, strong seasonal infrastructure opportunities are gradually emerging Huaan believes that post-holiday market risk appetite has significantly increased, trading volume has rapidly expanded, and opportunities are abundant. The most dazzling among them is the growth technology sector catalyzed by DeepSeek and the Siasun Robot&Automation, which is still in the early stage of the market and still has ample room for growth. In addition, the strongly recommended infrastructure sector with strong seasonal effects is still in the early stages of the market and remains the preferred investment direction. Specifically: 1) high-elastic growth technology, including TMT, defense industry, Siasun Robot&Automation, etc. 2) Infrastructure advantage varieties with strong seasonal effects. Including engineering consulting services, environmental protection equipment, professional engineering, environmental governance, non-metal materials, cement, general equipment, and new metal materials. 3) Banks and insurance companies with medium- to long-term strategic investment value. While their short-term elasticity is weaker than the first two main themes, their strategic investment value has significantly increased in the medium- to long-term. EB Securities: Spring market is gradually entering a good phase, focusing on AI computing power infrastructure and application side EB Securities believes that the current period is the preheating period for the National People's Congress and CPPCC sessions, and the market's expectations for policies such as increasing the deficit ratio and expanding national bond issuances have further strengthened. In addition, the total amount of Medium-term Lending Facility (MLF) maturing in January and February is close to 1.5 trillion yuan, and it is expected that the central bank will reduce the reserve ratio to maintain market liquidity. Given the relatively positive expectations on the policy and fund sides, the spring market rally is likely to continue. In terms of allocation, focus on investment opportunities in AI computing power infrastructure (high cost-effective ASIC chips, optical modules, liquid cooling, etc.) and applications (AI glasses, AI phones, as well as AI+ healthcare, education, etc.). At the same time, with the heavy conference approaching, there may be opportunities for competition in technology themes such as low-altitude economy and satellite internet. China Securities Co.,Ltd.: Optimistic about the investment opportunities in the humanoid Siasun Robot&Automation industry chain China Securities Co.,Ltd. research report stated that recently, Siasun Robot&Automation, as a humanoid entity, performed "Rice BOT" on CCTV's Spring Festival Gala, Tesla's annual report interpretation conference call disclosed the latest business plan for Siasun Robot&Automation, and Figure AI announced new developments in commercial customer expansion and Siasun Robot&Automation AI model development. The latest technology trends, products, and production rhythms of benchmark companies at home and abroad have a certain reflection on industry trends. As the AI-end application with the largest and fastest changing demand space, the expansion path from To B industrial scenes to To C general scenes is gradually becoming clear. By 2025, the focus will be on the iterative solutions of dexterous hands, sensors, brain algorithm control, and hardware bodies of the industry chain, and it is optimistic about the 0-1 investment opportunities. This article is reproduced from "Tencent Stock Selection", edited by GMTEight: Xu Wenqiang.