The tech cluster remains intact, with public offerings showing portfolio adjustments

The technology sector, which performed brightly in the first half, showed adjustments in the third quarter. The public investment ratio in the electronics and telecommunications industry remains high, but fund managers' operations towards the AI computing power industry chain are diversifying. Adherents are adjusting sub-tracks, pioneers are shifting to the AI application end, cautious ones are balancing allocations, and defensive ones are liquidating and switching tracks. Fund managers' long-term optimism for the AI industry remains unchanged, but their judgments on valuation and structural directions are becoming more refined.