“红利资产+科技成长”折射A股市场投资新趋势，业内人士解读→

Group 1 - The A-share market is experiencing a rebound with increased trading activity, driven by expectations of synchronized interest rate cuts in China and the US in the fourth quarter, highlighting the importance of "dividend assets" and "technology growth" sectors as key drivers of structural opportunities in the market [1] - "Dividend assets" refer to stocks of listed companies with stable cash flows, consistent dividend-paying capabilities, and high dividend yields. As of August 8, 2023, the total scale of dividend funds reached 528.836 billion yuan, and the ETF shares linked to dividend indices increased from 72.180 billion shares at the end of 2024 to 92.549 billion shares currently, marking a growth of approximately 28.2% [1] - In the current low-interest-rate environment, the advantages of dividend assets are more pronounced, attracting long-term institutional investors who naturally prefer high-yield assets, while the stability and high dividend yield of the dividend sector provide a good defensive choice amid market fluctuations [1] Group 2 - Dividend assets provide a certain "safety cushion," while technology assets offer "higher elasticity," with the two asset types complementing each other and exhibiting rotation characteristics. Recently, several technology-themed funds have seen enthusiastic subscriptions from investors, completing their fundraising ahead of schedule [2] - Leading technology stocks are showing strong growth momentum in their 2025 semi-annual reports or forecasts, particularly in sectors such as AI, optical modules, servers, and semiconductors, with core indicators like net profit, revenue, gross margin, and ROE showing varying degrees of growth or improvement [2] - The rapid iteration of AI large models and the acceleration of semiconductor localization trends have made technology funds a hot spot for market capital allocation, with policy support for the technology sector and market enthusiasm for tech stocks creating positive feedback that drives the expansion of technology fund issuance [2]