On September 11th, the interim report for Great Wall Digital Economy 2026 revealed that Han Lin harbors a cautiously optimistic outlook on the future market. From the perspective of industry trends, he is confident about the medium- to long-term productivity enhancements driven by AI. However, he believes that the pricing rationale in the upcoming phase will shift more towards the tangible realization of orders, revenue, and profits, rather than being solely dependent on thematic storytelling and valuation growth.

Han Lin highlighted that apprehensions regarding the sustainability of capital expenditures should be addressed through financial disclosures and guidance on capital expenditures from cloud service providers and leading chip manufacturers, along with improvements in AI business revenue and return on investment.

Regarding industry direction, he underscored that AI infrastructure remains a paramount focus, with a special emphasis on segments offering high earnings visibility. These include advanced computing chips, ASICs (Application-Specific Integrated Circuits), optical communications, PCBs (Printed Circuit Boards), server power supplies, liquid cooling solutions, and storage systems. Simultaneously, he advocates for a balanced allocation between overseas and domestic computing power supply chains.

As investment strategies diversify, he will scrutinize customer structure, order quality, production capacity scheduling, and the congruence between cash flow and valuations more closely. Furthermore, within the semiconductor sector, he deems the outlook for the storage market, advancements in advanced manufacturing processes and packaging, and self-sufficiency as pivotal. He suggests paying attention to companies within the equipment, materials, components, and storage supply chain that possess technological barriers and potential for market share expansion.