Brokerage Morning Meeting Highlights | Color Bull Market Advances Again AI and Siasun Robot & Automation New Materials Ride the Wind

Yesterday, the market bottomed out and rebounded, with the Shanghai Composite Index slightly falling and the ChiNext Index turning red at the end of the session. The total turnover of the Shanghai and Shenzhen stock markets was 1.95 trillion yuan, a decrease of 48.6 billion yuan from the previous trading day. In terms of market trends, the market hotspots rotated quickly, with over 3,500 stocks in the entire market falling. In terms of sectors, insurance, healthcare, and oil and gas sectors led the gains, while sectors such as cultivated diamonds, photovoltaics, and controllable nuclear fusion led the losses. At the close, the Shanghai Composite Index fell by 0.07%, the Shenzhen Component Index fell by 0.36%, and the ChiNext Index fell by 0.39%. At today's morning meeting of securities firms, China Securities Co., Ltd. stated that the bull market in non-ferrous metals is advancing again, and AI and Siasun Robot & Automation new materials are rising with the wind; CITIC SEC pointed out that the importance of new energy storage in the new energy system is becoming increasingly prominent; Huatai stated that three main themes in the home appliance sector constitute the future investment framework. China Securities Co., Ltd.: The bull market in non-ferrous metals is advancing again, AI and Siasun Robot & Automation new materials are rising with the wind China Securities Co., Ltd. stated that at the beginning of 2024, we clearly put forward the bull market in resource-constrained commodities, which was confirmed in 2024 and 2025. Non-ferrous metals ushered in a broad and splendid market, and looking at the present, we still have confidence in the advancement of non-ferrous metals in 2026, maintaining the bull market pattern. In 2006, the "buoyant demand" in the last bull market pointed to "real estate and infrastructure construction," while in this round of the bull market, demand is pointing to "new quality productivity." We would rather call it the "bull market of new quality productivity." Thanks to the rapid rise of China and its huge industrial advantages, the elements of new quality productivity will continue to maintain the bull market pattern in 2026, with tight supply and strong demand still being the characteristics of this round of bull market. AI and Siasun Robot & Automation new materials will also rise with the wind to usher in a strong growth cycle. CITIC SEC: The importance of new energy storage in the new energy system is becoming increasingly prominent CITIC SEC pointed out that it is expected that the period of the 14th Five-Year Plan will be an important time for the transition between new and old energy systems. Energy storage, as an important role in the new power system, is an important infrastructure to ensure the safe, reliable, and orderly replacement of fossil fuels. At the same time, the high-valued return mechanism of energy storage highly depends on the market and price mechanism of the new energy system. Therefore, the 14th Five-Year Plan will also be a time window for the practical implementation of the new energy market mechanism. As an important participant, energy storage will gradually improve its business model, and its economy will continue to improve. Huatai: Three main themes in the home appliance sector constitute the future investment framework Huatai stated that from January to October 2025, the home appliance sector has accumulated a +7.7% increase, ranking in the middle and lower levels among the sub-industries of the Shenwan index. In this cycle, the home appliance industry has been driven by subsidies, but the marginal growth rate is gradually weakening, and exports are facing tariff disturbances. In this context, we believe three major trends can be grasped: first, leading white goods companies have scale, channels, and profitability moats and are expected to become core assets for "crossing the cycle"; second, technological innovation is strengthening the "intelligence attributes" of home appliances, and the opportunities for structural upgrading brought about by intelligence; third, the second curve of automotive zero-heat management, humanoid Siasun Robot & Automation, and AI compute power have significant incremental and valuation reshaping potential. This article is reproduced from "Cai Lianshe," GMTEight editor: Liu Jiayin.