Brokers' Spring Strategy Conferences Display Confidence; Technology and Other Sectors Attract Attention

Strategy conferences are an important window for securities firms to communicate their latest views to the market and engage with investors. Recently, securities firms have held intensive spring strategy meetings to explore market opportunities and analyze new investment logic.

Overall, many securities analysts believe that the domestic economy is expected to maintain steady growth, and the core long-term positive trend of the capital market remains unchanged. Regarding investment themes, securities firms generally favor opportunities in technology, resources, and other sectors.

Compared to previous years, this year’s spring strategy meetings were held earlier. As early as February 3rd, Huafu Securities held a spring economic and investment strategy conference themed “A New Beginning.” By March 16th, more than ten securities firms, including China International Capital Corporation and Huatai Securities, had held spring strategy meetings or corporate communication events. Meanwhile, major firms such as CITIC Securities and Guotai Huarong Securities also announced their schedules for strategy meetings.

Additionally, immediately after the Spring Festival holiday, securities firms began intensive research on listed companies. Wind data shows that from February 24th to March 16th, securities firms conducted over 1,600 research visits to 281 listed companies, with a focus on industries such as industrial machinery, electronic components, and chemical products.

By examining the themes of various securities firms’ spring strategy meetings, we can glimpse their core viewpoints and strategic directions. For example, Huatai Securities’ theme was “Starting Anew, Charting the Future,” China International Capital Corporation’s was “Riding the Wind and Breaking the Waves,” Guojin Securities’ was “Spring Awakening, Steady Progress,” GF Securities’ spring capital forum was “New Growth Opportunities, New Asset Narratives,” and Kaiyuan Securities’ theme was “Spring Forward.” These themes reflect the confidence of securities firms in the market outlook.

Notably, this year’s spring strategy meetings included more specialized deep-dive sub-forums covering cutting-edge hot topics. For example, Guojin Securities’ strategy meeting featured AI, cycle industries, and aerospace sub-forums; CITIC Securities set up sub-forums on commercial real estate, commodities, and AI education applications; Kaiyuan Securities organized 11 thematic forums including humanoid robots and intelligent driving.

Regarding this, Zheng Zhigang, Professor of Finance at the School of Finance and Economics at Renmin University of China, told Securities Daily: “The addition of more specialized sub-forums in spring strategy meetings reflects a profound adjustment in the business model of securities research institutes. Under the pressure of traditional revenue sources—such as public fund sub-account commissions—research institutes are seeking differentiation by providing in-depth insights into niche fields, meeting the specific needs of institutional investors, and creating more value through industry-finance integration and comprehensive services to enhance their core competitiveness.”

Looking ahead, securities firms generally remain optimistic about technology growth styles and resource-related industries.

Liang Hong, Chairman of the Institutional Business Committee at Huatai Securities, stated at the strategy meeting that China’s asset revaluation will deepen by 2026, with continued optimism for sectors such as technology, electricity, chemicals, and rare metals.

“In terms of allocation strategies, the top recommendation is physical assets with strategic resource value, such as crude oil, copper, aluminum, rare earths, coal, and rubber,” said Mu Yiling, Chief Strategist and Deputy Director of Research at Guojin Securities. He also suggested paying attention to Chinese manufacturing stocks with global leading advantages or those accelerating their overseas expansion, as well as structural opportunities in the consumer sector.

Wei Jixing, Chief Analyst at Kaiyuan Securities, recommended focusing on the following investment themes this year: first, AI technology, with industries like computing power and power infrastructure likely to be the core beneficiaries of this round of market trends; second, assets with stable “price increase capacity,” such as non-ferrous metals, insurance, and building materials; third, dividend-style investments.

(Source: Securities Daily)