Group 1 - The Hong Kong internet sector is experiencing downward pressure, with several popular stocks, including Hezhima Intelligent, Meitu, Suton Ju Chuang, and Kingsoft Cloud, showing significant adjustments, leading to a drop of over 2% in the Hang Seng Internet ETF (513330) during intraday trading [1] - By the first half of 2025, the market size of China's AI infrastructure service is expected to reach 19.87 billion yuan, representing a substantial year-on-year growth of 122.4%, with generative AI infrastructure accounting for over 80% of the market, becoming the core driving force [1] - Alibaba Cloud ranks first in both the overall and segmented markets, holding approximately 25% market share, with its Aegaeon GPU pooling system significantly enhancing resource utilization efficiency by serving seven models simultaneously on a single GPU [1] - Tencent's "Honor of Kings" has achieved a global monthly active user count of over 260 million, setting a new industry record and demonstrating China's dual breakthroughs in AI infrastructure and content application [1] - OpenAI's annual revenue is nearing 20 billion USD, and it has initiated the process for an IPO, indicating a continued acceleration in AI commercialization [1] - The narrowing performance gap between Chinese and American models, along with the open-source path promoting the development of a domestic ecosystem, suggests that capital investment and commercialization progress in the AI industry are consistently exceeding expectations, positioning leading Hong Kong internet companies for new development opportunities driven by technological evolution and capital aggregation [1] Group 2 - The long-term growth logic of the Hang Seng Internet sector is clear, driven by the widespread adoption of artificial intelligence technology, the improvement of the digital ecosystem, and continuous policy support [2] - The Hang Seng Internet ETF (513330) closely tracks the Hang Seng Internet Technology Index, providing comprehensive coverage of leading companies in the Hong Kong internet technology sector, serving as an efficient tool for capitalizing on the benefits of digital economy development and technological iteration [2]