Against the backdrop of the Shanghai Composite Index consecutively reaching new 10-year highs, which assets still hold allocation value and what future investment opportunities can be explored? Chen Xiaqiong, fund manager of Hua Shang High-End Equipment Manufacturing Stock Fund, stated that the domestic market is expected to maintain an upward trend with volatility, and three categories of assets may deserve key attention: growth companies that can capitalize on industrial trends, quality individual stocks with outstanding alpha, and industries and enterprises in bottom reversal zones. She also emphasized that she will dynamically balance the allocation ratios of these three asset categories to balance both portfolio sharpness and holding experience.
Chen Xiaqiong Master's degree from Peking University Fund Manager of Hua Shang Competitive Advantage Mixed Fund Fund Manager of Hua Shang High-End Equipment Manufacturing Stock Fund Fund Manager of Hua Shang New Energy Vehicle Mixed Fund
Chen Xiaqiong graduated from Peking University and joined Hua Shang Fund in 2015. She has served as industry researcher, assistant fund manager, and fund manager, with her competency circle concentrated in manufacturing and new energy-related upstream and downstream industries. Chen Xiaqiong firmly believes that "in-depth research is the cornerstone for navigating market volatility" and has deeply integrated this philosophy into her investment management.
Chen Xiaqiong believes that the domestic market is expected to maintain an upward trend with volatility, and opportunities in the following three asset categories may be actively pursued:
First, grasping industrial trends and positioning in high-growth sectors. Chen Xiaqiong pointed out that industrial trends represented by AI are still strengthening, with key focus on upstream materials, AI power equipment, and AI downstream applications including robots and autonomous driving. In terms of specific investments, she compares current industrial trends with similar major industrial trend markets in history, utilizing historical experience to determine trading phases. She believes that upstream materials segments benefit from concentrated demand explosions from overseas chains, domestic chains, and edge-side downstream demand, representing key areas of both volume and price increases, and are expected to show greater stock price elasticity after the mid-stage of industrial trends. Meanwhile, core segments in AI power equipment such as diesel generators and HVDC, as well as core supply chain companies in robotics, are all important directions for year-round attention.
Second, grasping quality factors and mining ultimate alpha from individual stocks. Chen Xiaqiong stated that she will focus on individual stocks with global competitiveness, high earnings certainty, and cost-effective valuations, such as automakers with product cycles and autonomous driving capabilities, and leading motorcycle companies. These enterprises are less affected by industry beta, have business models similar to consumer goods, and are expected to have some valuation repair space in the future.
Third, capturing bottom reversal opportunities and finding industries and companies at bottom reversal points. Chen Xiaqiong believes that although the Shanghai Composite Index has reached new 10-year highs, some asset prices are still far below their peaks, presenting reversal potential. She is optimistic about domestic and overseas energy storage demand, believing that as new energy accounts for an increasingly higher proportion in the energy structure, domestic energy storage serves as an important regulatory resource in the power system, and its costs in electricity prices have begun to gradually rationalize. Meanwhile, overseas negative electricity prices and power outage issues are prominent, and industrial and commercial energy storage is essentially an spillover of grid investment, with demand expected to enter an explosive stage from 0 to 1. In the wind power direction, domestic and overseas demand is expected to exceed expectations, with offshore wind components and wind turbines potentially having significant room for growth. Under the backdrop of power market liberalization, demand for power forecasting is also expected to explode.
Looking ahead, Chen Xiaqiong believes that the domestic market is expected to maintain an upward trend with volatility, and expects continued progress in industrial directions represented by AI models and hardware, AI downstream applications including robots and autonomous driving, energy storage and power trading, and solid-state batteries. She will continue to actively seize investment opportunities around these directions while continuously exploring high-certainty quality companies.
Data Note: The investment directions that the fund manager focuses on in this article are judgments made in combination with current market conditions and may be adjusted according to market conditions. They do not serve as guarantees for future investments. For detailed fund investment strategies and operations, please refer to fund legal documents and the latest periodic reports. As of June 30, 2025, Chen Xiaqiong has 9.8 years of securities industry experience (including 9.4 years of securities research experience and 0.4 years of securities investment experience). Chen Xiaqiong's fund management history: Fund Manager of Hua Shang High-End Equipment Manufacturing Stock Fund from January 6, 2025 to present, Fund Manager of Hua Shang Competitive Advantage Mixed Fund from January 6, 2025 to present, Fund Manager of Hua Shang New Energy Vehicle Mixed Fund from July 16, 2025 to present.
Risk Warning: The above views do not constitute investment advice. Markets carry risks, and fund investment requires caution. When purchasing funds, investors should carefully read fund legal documents such as fund contracts, prospectuses, and fund product summaries. Investors are advised to select products that match their risk tolerance and investment objectives.
MACD golden cross signal formed, these stocks show good upward momentum!