港股互联网板块估值优势凸显，AI重塑价值逻辑

Core Viewpoint - The valuation of the Hong Kong internet sector has reached an attractive level after a long adjustment period, with the Hang Seng Internet Technology Index's latest price-to-earnings (PE) ratio at 21.73, which is at the 16.67% historical low over the past decade [1] Group 1: Valuation Insights - The current PE ratio of 21.73 indicates that the sector's valuation is at a historically low level [1] - The shift in focus from user growth and business models to "AI empowerment" is expected to create a new growth curve for the sector [1] Group 2: Industry Dynamics - Recent developments, such as Alibaba's establishment of a "Robotics and Embodied AI Group" and Tencent's mixed Yuan image model achieving first place in global blind tests, demonstrate the transition of AI from concept to practical application [1] - These advancements are likely to reshape the market value of internet giants [1] Group 3: Investment Trends - The Hang Seng Internet ETF (513330) has seen over 1 billion yuan inflow in just three trading days, with a total of over 1.7 billion yuan accumulated in the first five trading days of October, indicating strong confidence from large investors in the Hong Kong tech sector [1] - The focus on leading internet companies is exemplified by the Hang Seng Internet ETF (513330) and the comprehensive coverage of the tech industry chain by the Hong Kong Stock Connect Technology ETF Fund (159101) [1]