Shenwan Hongyuan Strategy: A diversity of opportunities are emerging, with short-term volatility in technology sector intensifying, but there are still long-term trend opportunities.

Shenwan Hongyuan's strategy report stated that technology is currently experiencing short-term adjustment waves with high implied volatility. However, they remain optimistic about the long-term trend of AI, which continues to be the main battlefield of big market movements. They recommend keeping an eye on the following sectors: optical communication, PCB, storage, energy storage, gas turbine, and synergistic computation and electricity. In terms of industry focus, they suggest selecting segments based on performance growth and reasonable valuation, with a focus on new consumption, export chain Alpha, and economic cycles. Additionally, non-banking financial institutions are the only first-tier industry with "high ROE, low PB" ratios. As a new market uptrend approaches, non-banking financial institutions may no longer be absent from the market.