Caitong Securities pointed out that the valuation of Hong Kong's tech industry remains at a low level. If foreign capital flows in, the sector is expected to benefit from valuation repair in the medium to long term. Currently, the Hong Kong tech sector is just entering the initial phase of earnings release, and market expectations have not fully reflected the industry's growth potential. The theoretical valuation level should be lower than the current actual value. The AI industry is still in its early stages, with performance in the computing infrastructure segment already beginning to surge. However, the prosperity of downstream application layers has not yet fully spread, and expectations for the industry's ceiling have not peaked. Subsequent performance may continue to exceed expectations. Overall, the Hong Kong tech sector possesses medium- to long-term allocation value, but attention should be paid to the pace of foreign capital liquidity and the diffusion of industry prosperity.

The Hong Kong Tech ETF (513020) tracks the Hong Kong Stock Connect Tech Index (931573), which focuses on Hong Kong-listed companies in the tech sector traded through the Hong Kong Stock Connect channel. It selects the top 30 securities by market capitalization from industries such as information technology, electronic components, interactive media, and services as components. The index compilation centrally reflects the overall performance of tech growth enterprises in the Hong Kong market.