Exploring New Investment Opportunities: Guojin Securities 2026 Spring Strategy Conference Sub-forum Focuses on Five Industries

On March 13, Guojin Securities’ 2026 Spring Strategy Conference entered its second day in Chengdu. Under the theme “Spring Initiates a New Journey, Steady Progress in a Slow Bull Market,” the conference featured five industry sub-forums: Cycles, Artificial Intelligence, Aerospace, Healthcare, and Embodied Intelligence. Many analysts with new wealth backgrounds, industry experts, and representatives from listed companies were invited to explore structural opportunities and analyze the investment logic for the opening year of the 14th Five-Year Plan.

In the Cycles Sub-Forum, Guojin Securities stated that, amid deep adjustments in the global economy and complex geopolitical developments, the investment logic for cyclical commodities is undergoing profound changes. In non-ferrous metals, the copper bull market logic has not yet ended, and the strategic replenishment cycle has begun strongly. U.S. grid investments continue to drive copper demand, while global copper mine growth remains limited, inventories are at historic lows, and copper prices are expected to continue rising.

In the chemical sector, by 2025, the global natural gas market will be characterized by “slower volume growth, higher prices, and structural tightness,” with trade patterns undergoing structural reshaping. In transportation, the shipping industry is expected to remain prosperous. Rapid growth in crude oil production in Latin America has extended shipping distances, while U.S. sanctions have accelerated the contraction of compliant market capacity, with VLCC (Very Large Crude Carrier) capacity in compliant markets decreasing by over 10%.

Regarding utilities and coal, the coal sector should seek demand elasticity and supply changes. The power sector presents undervalued opportunities, with AI-driven data center demand growth offering new dividend perspectives. Market value management and mergers and acquisitions involving central and state-owned enterprises are becoming alpha drivers.

In the Artificial Intelligence Sub-Forum, Gao Zhiwei, Chief Analyst of Financial Engineering at Guojin Securities, noted that large models are reshaping research and investment application paradigms, mainly in two directions: active research and investment decision-making. Active research benefits from large models capable of extracting information, processing it, and producing conclusions, significantly improving research efficiency. For investment decisions, large models analyze unstructured data such as news, announcements, and opinions from institutions and retail investors to construct alternative factors, reshaping quantitative investment patterns.

In the Aerospace Sub-Forum, analysts pointed out that 2026 will be a critical turning point for China’s commercial space sector, transitioning from policy incubation to industrial-scale development. Competition for space computing power overseas is accelerating, prompting domestic policies and capital to focus on core links. China’s G60 and GW satellite constellations face rigid windows for “frequency occupation and orbit protection” from the ITU. There is urgent demand for network deployment, and recyclable rocket technology is expected to break through within the year, significantly reducing launch costs.

In Healthcare, Guojin Securities indicated that global medical investment and financing are bottoming out and rebounding. Under patent cliff pressures, multinational pharmaceutical companies have strong BD (business development) demand. China’s innovative drugs, with global leading advantages in ADCs, bispecific antibodies, and cell therapies, are becoming key targets for overseas cooperation. Policy impacts from centralized procurement are weakening, with medical insurance increasingly favoring innovative drugs, and expanded drug catalogues creating a multi-channel payment system.

In the Embodied Intelligence Sub-Forum, Guojin Securities believed that breakthroughs such as Figure Helix 02 and Tesla’s shared world simulation models enable robots to perform long-term autonomous behaviors and cross-entity generalization. Chinese automakers, leveraging their experience in intelligent driving, have formed three core capabilities: integrated hardware and software, manufacturing strength, and physical AI practices, with products from companies like Li Auto and XPeng expected to be launched within the year. In vertical scenarios, tasks such as clothing sewing, healthcare, and logistics disassembly—characterized by high value and low repetition—are expected to be the first to break through.

While engaging in lively discussions, the progress of Guojin Securities Research Institute’s reforms also drew attention. In recent years, with strong company support, the institute nearly doubled its research staff, completed industry team additions, and achieved breakthroughs in market influence, with continuous increases in public fund market share. Going forward, Guojin Securities will continue to seize opportunities in digital transformation, actively promote the development of new digital products, deepen the integration of total, industry, and data research, strengthen industry chain and forward-looking research, and build a comprehensive research product system.