Big "Picture" 2026: A sneak peek at the top ten industries in the future.

Preface: In 2025, the A-share market saw many "bull" stocks, with industrial changes driving the reconstruction of capital narratives. In this year, investors witnessed the capital feast brought about by technological innovation and felt the reevaluation of value in traditional industries after their renewal. The market continued to hit new highs amidst fluctuations. Now, we are about to enter 2026 - the opening year of the "Fifteenth Five-Year Plan". The new investment directions under national strategies and accelerated technological innovations will drive the flow of industrial funds. Our forward-looking planning for the top ten industries focuses not only on foreseeing the future, but also on understanding the stage of the industry, new narrative logics, recognizing the core laws of industry development, and grasping the navigation of industry opportunities in the new year. 1. AI (1) Storage Keywords: Continuously strong New narrative logic: Capital expenditures of cloud service providers continue to increase, HBM, and enterprise storage are in short supply. While consumer end storage capacity is squeezed, products on the consumer end, led by the iPhone, are upgrading memory capacity intensively, driving a simultaneous increase in quantity and price in the industry. Market judgment: Multi-party demand competing for limited storage chip capacity, it is expected that the storage market will remain strong in 2026. Domestic listed companies that have already stockpiled enough or have entered enterprise-level storage are expected to benefit from this wave and maintain a strong market. Representative companies: Shenzhen Longsys Electronics, Biwin Storage Technology, Shannon Semiconductor Technology, Changxin Storage (2) Circuit Boards Keywords: Expansion, technological upgrades New narrative logic: With the heat of AI, PCB has evolved from a past connector to a "core layer of algorithm release", stepping into the "Three High Era" of high frequency, high power consumption, and high density. As AI demand further releases and product generational transitions accelerate, technological-driven value re-evaluation and upstream "shortages" will become mainstream in the PCB industry. Market prediction: High-end capacity and key materials expansion is slow, the gap between supply and demand in PCB is expected to continue, high-end high-density interconnection boards (HDI), which can meet the stringent requirements of AI computing servers, accelerator cards, CPO optical modules, and automotive domain controllers, have significant growth potential and are expected to become the fastest-growing category in the industry, leading manufacturers to accelerate expansion. Representative companies: Victory Giant Technology, Avary Holding, Shengyi Technology (3) AI Applications Keywords: Accelerated commercialization New narrative logic: AI applications will further move from AI empowerment to AI native, focusing on the quality of generated content, personalized accuracy, and the immersion of multimodal interaction. Market prediction: Under the resonance of continuous model iteration and declining computing costs, AI applications are moving from the "tool available" stage to the "value convertible" stage, with market trends expected to continue in 2026. Representative companies: Wondershare Technology Group, Kunlun Tech, Beijing Kingsoft Office Software, Inc., Richinfo Technology (4) Servers Keywords: Upgrade and reconstruction New narrative logic: The industry focus is shifting from simple hardware stacking to overall chain collaborative upgrades, aiming to break through computing bottlenecks and address issues like excessive power consumption. Market prediction: With high levels of capital expenditures from cloud service providers supporting demand, the market for AI servers in 2026 is expected to continue to be strong. Specifically, technological iteration will drive the penetration of liquid cooling. Manufacturers have successively launched new super node server products in 2025, and their application promotion will accelerate in 2026. Representative companies: Dawning Information Industry, Inspur Electronic Information Industry, Unisplendour Corporation Staybilizing....