Core Insights - The overseas Sora2's popularity and major companies accelerating their computing power layout continue to strengthen the leading role of the technology sector, highlighting the value of allocating Hong Kong stock technology-weighted assets [1] - Significant advancements in AI video model technology have notably lowered content production barriers, driving an increase in copyright protection demand and enhancing efficiency in advertising materials, short videos, mid-to-long videos, and gaming sectors [1] - Domestic self-developed video models are rapidly iterating, with Alibaba Cloud leveraging its "full-stack AI capabilities" in computing power, models, and applications to form a closed-loop advantage, while Tencent's mixed Yuan visual model leads domestically [1] - The gaming sector's third-quarter report shows high prosperity, and although the film industry performed flat during the National Day holiday, a clear supply turning point is evident, with quality content reserves expected to drive recovery [1] - The evolution of AI applications is ongoing, with three development stages comprising the reshaping of public cloud value, B-end SaaS empowerment, and C-end scenario implementation [1] Index and Fund Insights - The Hong Kong Technology ETF (513020) tracks the Hong Kong Stock Connect Technology Index (931573), which selects securities from technology-related industries among companies listed on the Hong Kong Stock Exchange, focusing on the top 30 constituents by market capitalization [1] - This index emphasizes TMT (Technology, Media, and Telecommunications) and internet sectors to reflect the overall performance of technology sector listed companies in the Hong Kong market, characterized by high technological content and growth potential [1]