Essence of securities firms' morning meeting | Leading companies in various links of photovoltaic industry are expected to turn losses into profits in 2026.

The Shanghai Composite Index opened low and closed high yesterday, recording a 7-day consecutive gain, while the Shenzhen Component Index and the ChiNext Index both hit bottom and rebounded. The total turnover of the two markets in Shanghai and Shenzhen was 1.92 trillion yuan, an increase of 44.3 billion yuan compared to the previous trading day. In terms of sectors, the commercial aerospace concept continued to be active, with the Siasun Robot & Automation concept, the chip industry chain concept, and the paper industry concept showing strength. On the downside, precious metals, Hainan, and energy metals sectors were among the top decliners. As of the close of yesterday, the Shanghai Composite Index rose by 0.47%, the Shenzhen Component Index rose by 0.33%, and the ChiNext Index rose by 0.3%. At today's brokerage morning meeting, Huatai pointed out that they are optimistic about the trend of mining service and equipment companies transitioning to mine development; Sinolink stated that the investment strategy for the medical device sector in 2026 will focus on two main lines of going global and innovation; CICC believes that the leading companies in various segments of the photovoltaic industry are expected to turn losses into profits in 2026. Huatai: Optimistic about the trend of mining service and equipment companies transitioning to mine development Huatai stated that the current high metal prices may lead to more exploration and mining service and equipment manufacturers transitioning to mine development. This transition model mainly includes shareholding, controlling, and EPC+O mode (low shareholding but with excess profit rights). In this context, the above-mentioned transition models are expected to become important mining development forces in the future, as small and medium-sized mine owners have a strong willingness to develop under the current high metal prices, but generally face constraints such as limited financial strength, lack of technical and project management capabilities, and need external assistance to promote development. Major mining companies prefer projects with large resource volumes and long lifecycles, and have low willingness to participate in small-scale mine projects. In this context, mining service and equipment companies have rich operational experience to participate in the development of these types of small mines and operate through EPC+O model. This mutually beneficial commercial model is expected to be widely implemented in the future, so it is optimistic about the transformation of mining service and mining equipment manufacturers, and recommends investors to pay attention to new developments in this industry. Sinolink: The investment strategy of the medical device sector in 2026 will focus on going global and innovation Sinolink pointed out that the investment strategy of the medical device sector in 2026 will focus on two main lines of going global and innovation, focusing on high-quality medical device companies with leading overseas expansion, leading product innovation research and development capabilities, and gradually clearing domestic market price pressures in specific sub tracks. Recommendations include: 1) endoscopic consumables leading in overseas mature market expansion, with the impact of domestic centralized procurement gradually bottoming out; 2) leading home medical device companies with excellent brand power, innovative wearable varieties, and accelerated overseas market expansion; 3) Hong Kong-listed medical device companies specializing in differentiated innovation in the cardiovascular intervention field, and so on. CICC: Leading companies in various segments of the photovoltaic industry are expected to turn losses into profits in 2026 CICC pointed out that the photovoltaic industry is expected to achieve marginal improvement in supply and demand relationship in 2026, leading companies in various segments are expected to turn losses into profits, providing investment opportunities for reversing the dire situation. Due to the prominent issue of photovoltaic integration, it is driving the development of market-oriented and regulating power sources for electricity in both domestic and international markets, leading to an upturn in energy storage. This article is reproduced from "Cai Lian She", GMTEight editor: Feng Qiuyi.