Observing the performance of popular themes in the current A-share market, there is an interesting pattern worth noting—the peak trading share of the first wave of a breakout theme can typically reach about twice the previous high. This provides a reference for us to judge the potential for subsequent growth.

Specifically, looking at the current status of major themes: the media sector currently accounts for 4.6%, compared to a peak of 11% during the ChatGPT boom in 2023, and 7% during the DeepSeek craze last year. The computer sector is even more promising, with a current share of 9.8%, compared to 17.7% in 2023 and 18.2% during DeepSeek last year, indicating room for further growth.

The emerging field of humanoid robots is currently at 5.5%, having exceeded 7.2% earlier this year, and surged to 9.3% in September. The intelligent driving sector is at 3.5%, with a historical high around 7.5%. Other emerging tracks like nuclear fusion, power grid equipment, brain-computer interfaces, and commercial aerospace are mostly still at relatively low levels—nuclear fusion at 2.2% compared to a high of 2.7%, power grid equipment at 2.3% versus 4.6%, brain-computer interfaces at 1.6% still above the previous high of 1.1%, and commercial aerospace recently reached 6%, but previously had a foundation of 3.5%-4%.

From the perspective of share proportions, many themes still have room for imagination, and the key is whether the subsequent enthusiasm can continue to ferment.