As the new year approaches, how can investors navigate short-term market fluctuations and capture long-term value? Sun Wei, Portfolio Manager of the HuaShang Health Life Flexible Allocation Mixed Fund, stated that China's pharmaceutical innovation industry has significantly enhanced its global standing, which is expected to propel a comprehensive recovery across the entire industrial chain. The non-ferrous metals sector, benefiting from multiple positive factors, is likely to maintain its high growth momentum. Meanwhile, the AI industry has entered a critical phase where computing power and applications are synergistically exploding, and performance is being realized. She will focus on tracking these areas to grasp evolving industrial trends and seize era-defining opportunities for investors.
Sun Wei, who has a background in financial auditing, joined HuaShang Fund in January 2016. She specializes in deep research within core sectors like healthcare and consumer goods, with extensive coverage of sub-sectors such as innovative drugs, medical devices, and premium consumption. Her investment capability has evolved from deep focus on single sectors to flexible management across multiple strategies and styles. She now manages several products, including the HuaShang Health Life Flexible Allocation Mixed Fund and the HuaShang盛世成长混合基金.
Sun Wei excels at "uncovering assets at cyclical lows and finding high-quality companies at attractive valuations," balancing pro-cyclical and counter-cyclical assets to identify targets with strong growth potential. In pro-cyclical investments, she selects highly competitive companies within rising industries—those whose earnings growth often outpaces sector averages, leading to faster valuation increases. For counter-cyclical investments, she seeks assets showing early signs of improvement whose performance has not yet fully reflected their value. These assets are typically high-quality and possess significant rebound potential, offering substantial returns during economic or sector recoveries.
Reflecting on the market, Sun Wei noted in recent periodic reports that structural opportunities were prominent in the fourth quarter of 2025. Sectors such as non-ferrous metals, chemicals, AI applications, defense, the innovative drug industrial chain, and new consumption led the gains, forming the core profit drivers, while some traditional heavyweight sectors performed modestly.
Looking ahead, Sun Wei believes the anticipated inflection point for the healthcare sector in 2025 has been fully validated. Innovative drugs, as the core theme of the recent rebound, demonstrated outstanding annual performance. Despite a pullback in the fourth quarter, the sector's upward trend remains intact. For 2026, the sector is expected to continue its ascent, driving synergistic follow-through across the innovative drug industrial chain and guiding the entire sector into a recovery phase.
In non-ferrous metals, the sector showed resilient growth against market trends in Q4 2025, cementing its status as a key profit driver. This strength was fueled by improved supply-demand dynamics, policy support, and new demand growth. The sector's high activity is projected to persist. Investment strategies should focus on leading companies with clear upward trends in copper prices and capitalize on structural opportunities in rare metals like aluminum, rare earths, and lithium, driven by demand from new energy and AI data centers.
In Q4 2025, the AI industry reached a critical inflection point characterized by the synergistic explosion of computing power and applications, with the sector's driving logic shifting fully from "conceptual speculation" to "performance realization." As core engines of the tech sector, both AI computing power and AI application sub-sectors experienced rapid growth, attracting significantly stronger capital allocation interest.
The Year of the Horse symbolizes dynamism and progress, representing vitality and opportunity. The HuaShang Health Life Flexible Allocation Mixed Fund, managed by Sun Wei, will continue to monitor sector trends, capture core opportunities, mitigate potential risks, and optimize portfolio allocation, striving to deliver steady long-term returns for investors.
Data indicates that as of December 31, 2025, Sun Wei has 9.7 years of experience in securities, including 6.8 years in research and 2.9 years in investment. Her fund management history includes: HuaShang盛世成长混合基金 from January 4, 2023, to present; HuaShang医药消费精选混合基金 from January 10, 2023, to present; HuaShang Health Life Flexible Allocation Mixed Fund from December 29, 2023, to present; and HuaShang甄选回报混合基金 from December 29, 2023, to present. The views expressed represent the fund manager's investment philosophy. Detailed investment strategies are available in the fund's legal documents. Fee information can be found in the fund prospectus and related legal documents.
Risk Disclosure: The fund manager is committed to managing and utilizing fund assets with integrity, diligence, and prudence but does not guarantee profit or minimum returns. Investors should carefully read the fund contract, prospectus, and product summary before investing. The opinions above are not investment advice. Market risks exist, and fund investments require caution. Investors should choose products aligned with their risk tolerance and investment objectives.