According to the CITIC Securities Research Report, the technology sector has been drastically adjusted since July, and valuations of related targets have clearly declined, but fundamentals in the direction of autonomy and control, AI components, price increase chains, and consumer electronics have not been reversed. The current valuations of some segments have not fully reflected subsequent order growth, continued price increases, and performance delivery expectations, and there is strong room for recovery from the sharp decline. The upward inflection point in the performance of domestic semiconductor equipment and domestic computing power has been further clarified. Driven by global AI demand, the supply and demand boom in PCBs, storage, and AI power supplies will remain high. At the same time, the AI industry chain market is expected to gradually spread to consumer electronics, and it continues to be optimistic about this direction.

According to the CITIC Securities Research Report, the technology sector has been drastically adjusted since July, and valuations of related targets have clearly declined, but fundamentals in the direction of autonomy and control, AI components, price increase chains, and consumer electronics have not been reversed. The current valuations of some segments have not fully reflected subsequent order growth, continued price increases, and performance delivery expectations, and there is strong room for recovery from the sharp decline. The upward inflection point in the performance of domestic semiconductor equipment and domestic computing power has been further clarified. Driven by global AI demand, the supply and demand boom in PCBs, storage, and AI power supplies will remain high. At the same time, the AI industry chain market is expected to gradually spread to consumer electronics, and it continues to be optimistic about this direction.