Wang Sheng, chief strategy analyst at Shen Wan Hongyuan, pointed out that the selling pressure has been concentrated and released, and the rebound is not far away. First, the negative cycle between absolute income capital and small and medium-sized investors is limited. Microstructural stability is expected to recover naturally. Steady and far-reaching policies are easy to achieve results, and the listing of leading storage companies poses an opportunity for a rebound. Second, the AI industry chain is about to rebound, but heavy catalysis is needed to start the mid-term market. The computing power market is already divided, valuations of those with loose supply bottlenecks have been lowered, storage price increases are blocked, profit transmission is poor, and the subsequent market will have to go through a “slow pace” phase. Finally, in the rebound phase, AI dominates. In the medium term, it needs to catalyze the challenge to the previous high level, leading the rise in broad-band technology; there are more sources of fundamental improvements, more incremental capital, the structure is in full bloom, opportunities within technology have increased, non-tech banks are preferred, and the focus is on strategic resources, new consumption, and the alpha of the export/overseas chain. Wang Sheng also said that after the correction of technology stocks, the overall market is prone to a resonant rebound. The profit resilience of the A-share market is very obvious, and there is huge room for imagination in the future for domestic production to replace autonomous and controlled technology.

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