According to the CITIC Securities Research Report, looking ahead to 2026Q3, we believe that the adjusted index is already in the bottom range, and the main market position of the technology sector has not wavered, but it is difficult to repeat the general rise and spread similar to the first half of the year. We expect the investment logic in the second half of the year to be highly focused, and we are optimistic about core links and core new material targets.

According to the CITIC Securities Research Report, looking ahead to 2026Q3, we believe that the adjusted index is already in the bottom range, and the main market position of the technology sector has not wavered, but it is difficult to repeat the general rise and spread similar to the first half of the year. We expect the investment logic in the second half of the year to be highly focused, and we are optimistic about core links and core new material targets.