Sun Wenlong from Bodao Fund: The market may "rebalance" in the future, and there are structural opportunities in consumption.

At the 2026 Mid-Term Investment Forum hosted by Bodao Capital, Sun Wenlong, Deputy Director of Equity Investment, stated in his speech that currently, AI investment has entered the latter half of its first phase. From the perspective of capital allocation efficiency, the subsequent market may undergo "rebalancing." Among these, there may be structural opportunities in consumption, particularly in the direction of health and aging. He further noted that when observing consumption, it is essential to look not only at goods consumption but also at service consumption. This year, the growth rate of service retail sales has surpassed that of goods retail sales.