Fangzheng Securities Research Report pointed out that the market since this year has seen a major structural change since July. In the financial sector, where excess earnings were previously evident, excess earnings declined significantly after July. Along with the acceleration of the index's upward trend, the technology stock information technology sector became the market-leading sector after July. Looking at the sector's profit cycle, as of the 2025 interim report, there are clear signs that ROE in the information technology sector has bottomed out and rebounded. In the current overall economic and market environment, growth dominance is still the main direction of the market, and we can focus on market proliferation opportunities within technological growth.

Fangzheng Securities Research Report pointed out that the market since this year has seen a major structural change since July. In the financial sector, where excess earnings were previously evident, excess earnings declined significantly after July. Along with the acceleration of the index's upward trend, the technology stock information technology sector became the market-leading sector after July. Looking at the sector's profit cycle, as of the 2025 interim report, there are clear signs that ROE in the information technology sector has bottomed out and rebounded. In the current overall economic and market environment, growth dominance is still the main direction of the market, and we can focus on market proliferation opportunities within technological growth.