Highlights of the brokerage morning meeting | Siasun Robot & Automation focusing on high-quality segments at the bottom

Market hit bottom yesterday and rebounded, with all three major indexes closing in the red. The turnover in the Shanghai and Shenzhen markets was 1.73 trillion, a decrease of 237.9 billion from the previous trading day. In terms of sectors, military industry, AI applications, commercial aerospace, and other sectors saw the highest gains, while energy metals, Hainan, and gas sectors saw the highest losses. At the close of trading yesterday, the Shanghai Composite Index rose by 0.05%, the Shenzhen Component Index rose by 0.37%, and the Growth Enterprise Index rose by 0.31%. At today's securities morning meeting, China Securities Co., Ltd. pointed out that the humanoid Siasun Robot & Automation is focusing on quality segments at the bottom, paying attention to the layout period of engineering machinery; Huatai believes that the dual-track technology route and the long-term dominance potential of green electricity methanol are clear; Zhongtai stated that balancing the portfolio will help navigate the market during this period of indecision, and the market style will re-focus on technology. China Securities Co., Ltd.: Humanoid Siasun Robot&Automation focuses on quality segments at the bottom, pays attention to the layout period of engineering machinery China Securities Co., Ltd. stated that in the field of humanoid Siasun Robot & Automation, the industry is showing positive changes both domestically and internationally. Musk mentioned that the complexity of the next generation dexterous hand will further increase, and the trend of industrial development is clear. It is suggested to pay attention to quality segments and future developments such as Gen3 targetting, new product releases, and mass production. As for solid-state battery equipment, the first large-capacity full solid-state battery production line has been trial-produced in China, accelerating the industrialization process of solid-state batteries. In the field of engineering machinery, exports have maintained high growth on a high base, although domestic sales of excavators have slowed down, other types of machinery have maintained high growth rates. The overall domestic operations are good, and it is recommended to pay attention to the layout period of the engineering machinery sector. Huatai: Dual-track technology route, clear long-term dominance potential of green electricity methanol Huatai pointed out that the domestic green methanol production capacity is showing a pattern of "small-scale verification, accelerated implementation, and adequate reserves". As of the end of September 2025, 190,000 tons/year have been put into operation, 3.11 million tons/year are under construction, and long-term planned capacity is expected to reach 18.23 million tons/year. In terms of technology routes, two major mainstream routes are running simultaneously, and green electricity methanol has a clear long-term dominant position due to the potential for cost reduction. Although the IMO's net-zero framework vote has been delayed, the decarbonization goal of the shipping industry remains unchanged, downstream demand has gradually formed, short-term projects under construction and policy support act as catalysts, and long-term cost reduction and scale open up growth opportunities. The investment opportunities cover leading companies in the upstream, midstream, and downstream sectors. Overall, in the short term, focus on "capacity implementation + policy dividends", and in the long term, focus on the "cost reduction of technology + supply and demand coordination" to effectively respond to policy pace fluctuations and seize industry growth opportunities. Zhongtai: Balancing the portfolio to navigate through the period of indecision, market style will refocus on technology Zhongtai mentioned that balancing the portfolio to navigate through the period of indecision and patiently waiting for the market style to refocus on technology. The market experienced an overall decline in trading volume this week, with the technology sector seeing the largest decline, indicating a style switch as the market accelerated its decline. In terms of high-frequency funding, wide-based ETF funds are accelerating net inflows, and both southbound and northbound funds are balanced. The balanced portfolio recommended by the bank can navigate through the period of indecision by hedging against industries weakly correlated or negatively correlated with technology, such as: 1) Finance: Hedging against technology volatility; 2) Chemicals in the pro-cyclical sector; 3) Innovation drugs in the context of improved China-US relations. The market style will refocus on technology, possibly within this year, and a significant adjustment will accelerate the arrival of this point in time. This article is reprinted from "Cailianshe", GMTEight editor: Liu Jiayin.