In 2026, A-shares usher in a "high-end expansion wave," led by AI and new energy.

Since the beginning of 2026, listed companies on the A-share market have successively disclosed large-scale expansion and annual investment plans. A review by reporters found that new energy, AI computing power industry chains, and semiconductors are the main directions most concentrated in this round of expansion. Leading companies with ample cash flow are more likely to use their own funds, and targeted share issuance has become the main financing channel for hard technology companies. Although the market remains cautious about cyclical fluctuations, many industry insiders believe that compared to previous rounds of expansion, this round is more focused on high-end capacity and technological upgrades. Under clear demand-driven factors, expansion has become an inevitable choice for leading companies to compete for the next technological window period. (Shanghai Securities News)