According to the Huatai Securities Research Report, A-shares have been adjusted due to the deleveraging of global technology assets, but the structural differentiation of the market is obvious, sentiment cleared up quickly, and it is closer to clearing crowded transactions of high-ranking technology rather than systemic risk. Looking at the medium term, the mid-term forecast and steady growth expectations have not been falsified, and sentiment has fallen back to an all-time low. If there is a catalytic rise in the probability of a short-term rebound, it will still take time to absorb congestion and leverage. Overseas technological fluctuations are still disturbing, and trends have yet to be confirmed. Allocation continues to be balanced. The technology side can continue to hold dividends in terms of low absorption storage, semiconductor equipment and materials, etc., taking into account resource products, offshore chains, and non-bank structural opportunities.

According to the Huatai Securities Research Report, A-shares have been adjusted due to the deleveraging of global technology assets, but the structural differentiation of the market is obvious, sentiment cleared up quickly, and it is closer to clearing crowded transactions of high-ranking technology rather than systemic risk. Looking at the medium term, the mid-term forecast and steady growth expectations have not been falsified, and sentiment has fallen back to an all-time low. If there is a catalytic rise in the probability of a short-term rebound, it will still take time to absorb congestion and leverage. Overseas technological fluctuations are still disturbing, and trends have yet to be confirmed. Allocation continues to be balanced. The technology side can continue to hold dividends in terms of low absorption storage, semiconductor equipment and materials, etc., taking into account resource products, offshore chains, and non-bank structural opportunities.