GUO-TAI HAI-TUNG MANAGEMENT: THE UNCERTAINTY OF THE ACIC FORWARD IS WIDENING

ACCORDING TO QUETAI HAITUNG, THE CURRENT TMT INDEX VALUATION HAS RISEN TO AN ALL-TIME HIGH, THE OVERALL POTENTIAL RISKS OF THE PLATE ARE ACCUMULATING AND INVESTMENT OPERATIONS NEED TO BE MORE RISK-SENSITIVE. AS SOME OF THE POPULAR TRACKS ARE EXPECTED TO FILL, FUTURE INVESTMENT STRATEGIES SHOULD BE MORE PRUDENT, FOCUSING ON THE BOTTOM-END ASSETS WITH A SUFFICIENT RATE OF COMPENSATION AND ON STRUCTURAL OPPORTUNITIES DRIVEN BY CUTTING-EDGE TECHNOLOGICAL INNOVATIONS. WITH THE DRAMATIC INCREASE IN THE EARLY STAGES OF THE ACIC CHAIN, THE MARKET'S EXPECTATIONS FOR GROWTH IN 2027 HAVE GRADUALLY BEEN FILLED, AND SUBSEQUENT PERFORMANCE GROWTH WILL BE HEAVILY DEPENDENT ON ADEQUATE ACCP CASH AND CONTINUED FINANCING SUPPORT, AND LONG-TERM UNCERTAINTY IS INCREASING. THEREFORE, FUTURE POSITIONS IN THE COMPUTATIONAL DIRECTION NEED TO BE HANDLED MORE CAUTIOUSLY, WITH RISK-CONTROL BENEFITS BEING STRICTLY HIGHER THAN, AND NOT BLINDLY PURSUED。