Yangtze River Asset Management's Zhang Jianxin: Seize the Long-term Growth Opportunities in Emerging Industries and Future Industries

Ask AI · How can Zhang Jianxin optimize emerging industry investments through mid-level industry comparisons?

The 2026 Government Work Report clearly identifies emerging industries and future industries as core deployment directions, providing a clear and actionable guide for innovative development. Zhang Jianxin, a fund manager at Changjiang Asset Management, stated that policy signals point towards industrial upgrading and the cultivation of new driving forces, suggesting that related fields may welcome long-term growth opportunities.

From New Energy to Future Energy

Zhang Jianxin has a decade of experience as an industry researcher in fields such as new energy, currently managing two funds focused on new energy and emerging industries, with the former concentrating on the A-share new energy sector and the latter encompassing multiple emerging industry directions including new energy and information technology.

As a fund manager focused on growth tracks, Zhang Jianxin has established an investment system centered on “top-down grasping of trends, mid-level filtering of tracks, and bottom-up selection of individual stocks.” In Zhang Jianxin’s view, the development of energy transformation is at a critical juncture from “quantity” to “quality.” On one hand, fields such as electric vehicles, photovoltaics, and wind power are moving from scaling up to high-quality development; on the other hand, future energy sources like hydrogen, biomass energy, and nuclear fusion have been clearly included in the cultivation direction of future industries.

In the new energy sector, Zhang Jianxin pays particular attention to lithium resources and solid-state battery segments. He believes that the lithium battery industry will perform strongly starting in the second half of 2025, with core drivers likely stemming from unexpectedly high growth in storage demand, which the market anticipates will be sustainable, potentially initiating a new upward cycle for the industry. At the same time, in the solid-state battery sector, the demand for energy storage safety in electric vehicles and the push in overseas markets will accelerate the advancement of related technologies, which may have limited short-term contributions to related companies’ performance but significant long-term growth potential.

Transitioning from new energy to future energy may require a deeper and elevated understanding of energy strategies. Zhang Jianxin stated that he will continue to track changes in the industry while maintaining attention, diligence, and sensitivity to the market, seeking truth and realism to strive for grasping new industrial opportunities.

Prioritize Screening for Sub-industries Entering Growth Cycles

The development of emerging industries and future industries cannot happen overnight. Specifically regarding investments, Zhang Jianxin emphasizes avoiding blind following of trends, stating, “It is essential to thoroughly research a company’s core competitiveness, profit certainty, and change trends, and to combine these with valuation, market expectations, and other factors for judgment.”

According to industry cycle theory, an industry typically goes through four stages: “introduction, growth, maturity, and decline.” Currently, most emerging industries are still in the first two stages. In Zhang Jianxin’s practical logic, he prefers to enter sub-sectors within a 3-5 year growth cycle, dynamically optimizing within the industry chain while balancing industry prosperity and valuation rationality.

Specifically, in terms of industry allocation, AI computing power upgrades and the export of electrical equipment are areas of particular interest for Zhang Jianxin. He believes that the current market has sufficiently explored hardware in the AI field, and will focus more on the value enhancement brought about by structural upgrades in 2026; regarding the export of electrical equipment, relevant listed companies have formed important profit growth points by leveraging better pricing and profit margin levels in overseas markets, and can sustainably focus on profit growth opportunities brought about by increasing overseas business revenue shares.

Zhang Jianxin firmly believes that the market is a “voting machine” in the short term and a “weighing machine” in the long term. In this first year of the 14th Five-Year Plan, his core investment philosophy is to continuously seek opportunities in sub-industries, striving to uncover more growth targets with technological barriers, global competitiveness, and performance realization capabilities, thereby sharing in the long-term development dividends of emerging and future industries.