According to the CITIC Securities Research Report, in the first half of 2026, the technology sector experienced high performance and profit growth rate significantly outperformed revenue. The core driving force was the sharp rise in volume and price in the entire industry chain due to the explosion in demand for AI computing power, and the areas with the highest degree of performance delivery were concentrated in semiconductors, communication equipment, and computer equipment. After the July pullback, congestion in the technology sector and valuation pressure eased marginally. The high increase in semi-annual reports continued to absorb valuations, and the market changed from valuation-driven to profit-driven. By industry, performance is divided. The electronics and computer industries lead the way in revenue and profit growth, the communications and media industry as a whole remains steady, and negative profit growth in the automotive industry is under relative pressure. The AI computing power chain contributed most of the increase, and domestic computing power, semiconductor equipment, AI applications, and AI terminals can be expected to grow.

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