Group 1 - The Hong Kong stock market has shown remarkable trading activity in 2025, with an average daily turnover of HKD 242.7 billion in Q1, marking a historical high and a year-on-year increase of 144% [1] - The financing scale of the Hong Kong IPO market has significantly increased, with hard technology and new consumption sectors becoming the focal points for capital [1] - The average daily inflow into the Hong Kong technology sector reached HKD 14.99 billion since the beginning of 2025, with the Hang Seng Tech Index rising by 20.74% in Q1, making it a core area for attracting funds [1] Group 2 - The current market environment has led to a "technology + dividend" dual strategy that demonstrates strong synergy, with the technology sector being active due to the AI industry chain explosion [2] - Southbound funds in 2025 exhibit a clear barbell allocation strategy, focusing on consumer demand sectors with clear policy expectations and innovative fields like innovative drugs and medical devices under the import substitution logic, while also paying attention to high dividend strategies [2] - This strategy captures the long-term growth potential of technological innovation while using dividend assets to hedge against short-term market volatility, showcasing strong adaptability in the complex market environment of 2025 [2]