Zhongyou Securities' Huang Fusheng: The equity market will enter a "long cycle, structural bull market" in 2026.

On December 3rd, at the "2026 Postal Financial Forum and China Post Securities Strategy Report Meeting", Huang Fusheng, Vice President and Chief Economist of China Post Securities, believed that the Chinese equity market in 2026 will usher in a "long and structural bull market". The current market has already experienced the "policy bottom", "tariff bottom", and "price bottom", and with the improvement of corporate profits, once the "profit bottom" is confirmed, the bull market support will be more solid. In terms of investment themes, Huang Fusheng believes that the main theme of "innovative drugs + technological growth" from the third quarter of 2024 to the third quarter of 2025 will continue, with energy storage and lithium batteries taking over in the fourth quarter of 2025, and the chemical industry and consumption gradually entering a recovery cycle in 2026. The recovery in industry prosperity will bring good investment opportunities.