After CITIC Securities held its 2027 capital market strategy meeting in Wuhan on November 3, Shenwan Hongyuan Securities, China Securities, and Kaiyuan Securities successively held their own strategy meetings on November 10. Looking ahead to next year, many brokerages remain optimistic about the AI industry chain, but they place greater emphasis on the actual returns on investment. As cloud vendors ramp up spending, which applications can generate sustained revenue and which hardware companies can turn orders into profits have become the focus of analysts. Analysts pointed out that whether domestic computing power chips can be delivered reliably, whether demand for high-speed optical modules can be sustained, and whether power supply can keep pace with cabinet installation will all affect the performance of each link in the computing power industry chain. In addition, the better-than-expected third-quarter results of some medical device companies, along with low inventory levels and slowing capital expenditure in the textile and apparel industry chain, also offer clues for observing changes in industry conditions.