Public offering focuses on underlying assets such as electricity and mineral resources that rely on AI.

Against the backdrop of the continuous emergence of structural opportunities in the A-share market, some fund managers reduced their positions in Hong Kong stocks in the first quarter, redirecting more capital towards traditional industries in the A-share market, embracing bottom-level assets such as electricity and minerals which are dependent on AI. Recently, many public funds including Ping An Fund, Qianhai Kaiyuan Fund, Huafu Fund, and Rongtong Fund have disclosed their first quarter reports for 2026. Overall, the trend of increasing positions in infrastructure sectors such as electricity and hardware that rely on the development of the artificial intelligence industry has become the core direction for public funds. Additionally, traditional resource stocks have also become an important direction for fund reallocation.