In the first half of this year, the technology sector was a well-deserved “leader” in the A-share market, and the yield of many equity funds heavily invested in the technology circuit was impressive. Recently, however, the technology sector has continued to fluctuate, and many investors are puzzled: can the technology sector continue in the second half of the year? The newly disclosed second-quarter public fund report shows that although most fund managers still maintain a high level of enthusiasm for the technology sector, significant differences have arisen over sector rotation and valuation logic within technology stocks. As the global AI wave continues, the technology sector has shown a high level of prosperity. Judging from the recently disclosed second-quarter fund reports, many high-performing public funds, such as the China-Europe Fund, Ping An Fund, Financing Fund, Red Clay Innovation Fund, and Jinxin Fund, have maintained high positions on technology stocks, and many products have achieved extremely high returns in a single quarter. At a time when technology stocks have continued to rise, questions about the technology “bubble” have also arisen from time to time. At a time when sector valuations have reached a high level, fund managers have shown a cautious attitude in terms of operation. Take Rongtong Advanced Manufacturing as an example. At the end of the first quarter, the fund had heavy holdings in 8 stocks, including Xinyisheng, Changfei Optical Cable, Industrial Fulian, Yingliu Co., Ltd., Jiang Feng Electronics, and Changfei Optical Fiber, which collectively withdrew from the fund's top ten heavy-held stocks in the second quarter.

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