On May 28th, Changjiang Securities' 2026 Mid term Strategy Meeting was held in Wuhan Optics Valley. Liu Yuanrui, Deputy Secretary of the Party Committee and President of Changjiang Securities, stated in his opening speech that the strategy meeting was held in Optics Valley, with the theme of "Following the Light to See the Far", which is more natural than ever. In the current capital market, there is nothing more eye-catching than 'light'. At present, there are few places in China where technology is more popular than Wuhan Optics Valley.

In Liu Yuanrui's view, the capital market has never lacked opportunities, but it is indeed rare for a market like "Guang" to have such a dramatic increase, wide coverage of the industrial chain, and long duration. And behind it lies a tangible industrial logic.

In the 1970s, China's first practical optical fiber was born in Wuhan Optics Valley. Since then, Optics Valley has gone through nearly half a century - from a few rudimentary production lines to today's closed-loop full industry chain covering chips, devices, modules, and systems, with over 800 artificial intelligence companies rooted here. This year, the accumulated momentum of 50 years has finally ushered in a concentrated outbreak, and the annual output value of Guanggu Optoelectronics Information Industry has exceeded 660 billion yuan.

In Liu Yuanrui's view, the concentrated outbreak of the technology industry in Optics Valley is precisely due to the long-term scientific research value concept of "doing valuable things, time will give answers" upheld by the technology entrepreneurs in Optics Valley.

Since the 1970s, Wuhan Optics Valley has developed from optical modules to compound semiconductors, from the "Six Little Dragons" to national laboratories. What it is doing is not chasing one or two trends, but building a complete innovation network from basic research to industrial implementation.

The development of Optics Valley reflects the epitome of China's technology industry's commitment to long-term innovation.

Quantum computing, controllable nuclear fusion, semiconductors, artificial intelligence, the new energy industry chain, and commercial aerospace - are not breakthroughs at a single point, but a whole line and a whole surface are unfolding simultaneously. This is not a single enterprise or field fighting alone. This is an era of blooming flowers and wildflowers. "In Liu Yuanrui's view, these breakthroughs did not emerge suddenly - they were slowly built brick by brick, day by night, in the most difficult years. Behind all these breakthroughs, there is a common story: in the beginning, no one saw the 'light'.

Today's Chinese technology is using wave after wave of breakthroughs to tell everyone: as long as you follow that beam of light, time will eventually give you the answer.

This also applies to the capital market, where there are ups and downs in the market and industries, and short-term investments may not immediately yield returns. But as long as the direction is right and the methods are right, time will eventually give you the answer. "In Liu Yuanrui's view," The returns that ultimately cross the cycle never come from chasing after the rise and killing the fall, but from identifying the direction before others have seen it, and then patiently waiting

Returning to the capital market, in a favorable situation, the troubled sector is the high prosperity sector, whose valuation is no longer cheap; Undervalued sectors, whose prosperity has not yet been verified. This is also a situation that almost every industry wave will face. Some people reap great rewards in the trend, while others occasionally feel disappointed while waiting. Every strategy has its own reasons.

The technology sector with a high valuation may not have reached its brightest light yet; the consumer sector with a low valuation may be in the darkest period before dawn, "Liu Yuanrui believes." Which one is more worth pursuing and which one is more worth waiting for, each has its own logic and choices. We cannot judge, and if we leave it to time and the market, there will naturally be an answer

The things that ultimately change the world are often ignored at the beginning, "Liu Yuanrui said in his speech." Many of the stories we talked about today have different protagonists and paths, but behind them is the same thing: "What is truly valuable is worth watering with time

(Cheng Jiulong/Text)