2026 Investment Main Line Impacts on A-share Hard Tech Sectors

This analysis is based on an event timestamped 2025-12-22 08:09:57 (UTC+8), focusing on A-share institutional research trends as of December 18, 2025.

As of December 18, 2025, A-share institutional research has concentrated on the hard tech track, with electronics, mechanical equipment, and pharmaceutical biotech as the top three sectors in research heat. A “head institutions leading, small- and medium-sized institutions following” pattern is evident, with large-scale private equity showing high activity—reflecting capital’s focus on real economy transformation.

• Electronics Sector
  : Global semiconductor leader TSMC (TSM) has gained 47.31% YTD in 2025, driven by AI chip demand. Reuters reports chipmaking equipment sales are expected to rise 9% to $126 billion in 2026, signaling sustained industry growth [1].
• Mechanical Equipment Sector
  : Global engineering machinery leader Caterpillar (CAT) has seen 61.89% YTD growth in 2025. Deloitte projects 1.8% growth in 2026 AI data center-related construction investment, driving demand for construction machinery [2].
• Pharmaceutical Biotech Sector
  : Eli Lilly (LLY) has risen 37.73% YTD in 2025. PitchBook data shows VC deals in the pharma biotools sector reached record highs in 2025, indicating strong innovation investment [3].

Note: The specific claim of 454 researched A-share companies could not be verified via used tools, but three-sector research heat aligns with industry trends.

1. Cross-sector AI Integration
   : AI drives core growth across all three sectors—AI chips (electronics), AI data center infrastructure (machinery), and digital tech-integrated biotools (pharmaceuticals).
2. Tiered Research Confidence
   : The “head-led, small-follow” pattern indicates growing long-term confidence among professional investors in hard tech’s transformative potential.
3. Global Trend Alignment
   : Overseas leaders’ strong performance (TSM, CAT, LLY) reflects a global hard tech investment trend, providing a reference for A-share related companies.

• Electronics: AI chip design, semiconductor manufacturing, and equipment production
• Mechanical Equipment: AI data center construction machinery and high-end precision tools
• Pharmaceutical Biotech: Biotech research tools, innovative drugs, and digital healthcare

• Industry growth may be impacted by macroeconomic policies, technological breakthrough delays, and global supply chain dynamics
• The unverified 454 researched companies figure could lead to misinterpretation of research heat if proven inaccurate
• Overseas leader data may not directly correlate with A-share performance, requiring local market context analysis

End-of-year A-share institutional research identifies hard tech as the core track, with electronics, mechanical equipment, and pharmaceutical biotech as primary focuses. The tiered research pattern and global leader performance reflect bullish sentiment, with 2026 investment likely centered on AI-integrated hard tech. Investors should consider sector-specific drivers and local market conditions while monitoring macro risks and data limitations.