Group 1 - A-shares experienced a collective decline on September 26, with significant drops in sectors such as gaming, liquid cooling servers, robotics, and copper cable high-speed connections [1] - The Sci-Tech Innovation and Growth Enterprise 50 ETF (159783) followed the downward trend, with leading stocks like Lens Technology, Runze Technology, Sanhuan Group, and Transsion Holdings declining, while Jinghe Integrated surged by 18% [1] - The Cloud Computing 50 ETF (516630) faced a sharp drop of over 2.5% at one point, with most holdings, including Shenzhou Taiyue, Dawn Information, Yuntian Lifeng, and Unisplendour, also experiencing declines [1] Group 2 - Galaxy Securities identified four main investment lines in the AI industry: 1) Computing infrastructure, including domestic AI chips and servers; 2) AI Agent and MaaS services, covering industry-specific software; 3) Intelligent terminals and embodied intelligent robots; 4) AI and green low-carbon initiatives [2] - The Cloud Computing 50 ETF (516630) tracks an index with a high AI computing content, covering popular concepts such as optical modules, computing leasing, data centers, and AI servers [2] - The Cloud Computing 50 ETF (516630) is noted for having the lowest fee rate among ETFs tracking this index [2]

Group 1 - The core viewpoint of the report indicates a significant structural shift in the market since July, with the financial sector, particularly banks, experiencing a notable decline in excess returns after July [1] - Following the acceleration of the index, the technology sector, specifically the information technology segment, has emerged as the leading sector in the market rally since July [1] - By mid-2025, the information technology sector is expected to show a clear rebound in return on equity (ROE), indicating a recovery phase [1] Group 2 - The report emphasizes that in the current economic and market environment, growth-oriented investments remain the primary focus, highlighting opportunities within the technology growth sector [1]