Group 1 - The core viewpoint of the article emphasizes the current market focus on the dual growth of "technology and cyclical sectors" [1] - The recent net inflow of over 11.2 billion yuan into the CSI A500 ETF (159338) over the past 20 days indicates strong investor interest [1] - In the technology sector, the rise of AI hardware, particularly in optical communication, is compared to the previous peak during the 5G base station construction, driven by rapid structural demand for AI computing power [1] Group 2 - The CSI A500 index highlights industry balance and leading companies in specific sectors, offering a more diversified and growth-oriented investment style compared to the CSI 300 [1] - Historical performance shows that the CSI A500 index has increased by 464.28% since its base date, outperforming the CSI 300 index, which has risen by 361.15%, resulting in an excess return of 103.13% [1] - The core factor for the sustained strength of AI hardware is the marginal change in profit growth (ΔG), which has not shown a significant turning point, suggesting a continuation of the bullish environment for valuations [1]