"in the future, there will be three definite tracks in the field of science and technology, the Sinicization of the automobile industry chain, the deep informationization of various industries driven by the Internet of things, and a new round of consumer electronics experience driven by AR and VR."

"in recent years, outstanding enterprises in emerging industries have focused on their main business, more and more enterprise business has begun to shift from model innovation to core scientific and technological innovation, and the quality of entrepreneurs is getting higher and higher."

"at present, there are 4000 A-share listed companies, and 30 per cent of them will successfully come out and achieve sustained returns in the future."

These are the latest views of Zhao Xiaoguang, vice president and director of the research institute of Tianfeng Securities.

Recently, at the special sharing meeting of "investing in the Ten-year Story of Morgan's emerging Power Hybrid Fund 2011-2021" organized by SIC Morgan, deputy general manager and investment director du Meng of SSIC invested Sun Fang, deputy general manager and deputy investment director of Morgan, and Zhao Xiaoguang, vice president and director of the Research Institute of Tianfeng Securities. Guests shared their views on the investment of JPMorgan emerging hybrid fund in the trump card fund managed by du Meng for 10 years, as well as the future development of the market.

Sina Finance has sorted out Zhao Xiaoguang's general wonderful views and shared them with you. View video

Zhao Xiaoguang focused on the three established tracks in the field of science and technology in the future.

One is the Sinicization of the automobile industry chain. The logic and methodology of the new energy automobile industry can be calibrated for smartphones. With the intelligent development of automobile, the supply chain of the whole automobile industry will meet the demand of stock replacement. At present, the combined revenue of the top 100 auto parts manufacturers in the world is US $7 trillion, while Chinese companies account for less than three points of revenue. He believes that the remaining 97% of the market will be gradually conquered by Chinese companies in the future.

The second is the deep informatization of various industries driven by the Internet of things. He said that many upstream companies tracked by his team reported that the amount of purchases in the Internet of things industry grew by 200% in the first half of this year, and the growth rate will continue. So there will be very good opportunities in this field in the future.

The third is the new wave of consumer electronics experience driven by AR and VR. At present, the five largest technology giants in the world have made a layout in the field of AR and VR. Facebook's VR devices continue to grow rapidly, and Apple's smart devices will be released next year. This track can replicate the logic and channels of the mobile phone industry and achieve rapid expansion.

And in terms of product features, wireless Bluetooth headsets have expanded people's hearing function in the past few years, driving a number of companies with a market capitalization of tens of billions of dollars. In contrast, AR and VR satisfy the visual function, and the market size will be several times larger than the auditory market.

He says he can see 100 to 200 directors of listed companies a year, and there are three things he feels most deeply about the changes in the industry in recent years.

The first is that excellent enterprises are focused on their main business. For example, five years ago, there were entrepreneurs who wanted to do extension mergers and acquisitions, hoping to have good M & An assets recommendations. Now excellent enterprises are focusing on their main business instead.

The second is that the quality of entrepreneurs is getting higher and higher. Ten years ago, there were all kinds of people who had not read books to become outstanding entrepreneurs, and these years there are more and more highly educated entrepreneurs from large multinational corporations.

The third is that more and more enterprises shift from model innovation to core science and technology. With the continuous improvement of the quality level and technical content of enterprises, there are more and more enterprises that can become the global leader in the subdivision track.

He believes that at present, there are 4000 A-share listed companies, and 30% of them will successfully come out and achieve sustained returns in the future.