Mei Ri Jing Ji Xin Wen·2025-08-28 02:43Group 1 - The semiconductor sector in Hong Kong is experiencing a strong rally, with SMIC (中芯国际) seeing a price increase of over 7.5%, contributing to a nearly 90% rise year-to-date [1] - The rise in semiconductor stocks such as SMIC, Hua Hong Semiconductor, and ASMPT has led to a narrowing decline in the Hang Seng Technology Index ETF (513180) [1] - According to First Capital Securities, the DeepSeek-V3.1 is expected to enhance the compatibility of domestic AI computing power chips with the upcoming domestic chip design UE8M0 FP8, facilitating a transition from "usable" to "highly usable" [1] Group 2 - The domestic AI computing power chip industry chain is viewed positively, with key players including Cambricon (寒武纪-U), Haiguang Information, and SMIC [1] - As of August 27, the latest valuation (PETTM) of the Hang Seng Technology Index ETF (513180) is 22.3 times, which is below 74% of the time since the index was launched on July 27, 2020, indicating a relative undervaluation [1] - The Hang Seng Technology Index is currently in a historically undervalued range, with expectations of improved external liquidity and a potential interest rate cut by the Federal Reserve, suggesting greater upward momentum for high-growth stocks [1]