According to the latest data from Simuwang, the Simuwang·China Hedge Fund Managers' A-Share Confidence Index soared to 125.74 in September, marking a second consecutive monthly increase. Meanwhile, as of the end of August, the average position of private equity funds employing a subjective long-stock strategy climbed by 1 percentage point on a month-on-month basis. Furthermore, the proportion of private equity institutions with positions exceeding 50% continued to rise. Presently, leading private equity firms remain optimistic about the sustainability of structural market trends in A-shares and Hong Kong stocks, although they have made adjustments to their offensive strategies. They acknowledge that following the initial surge in the technology sector, particularly in AI, there is now short-term valuation pressure. Nevertheless, as expectations for economic recovery grow stronger and policy impacts become more apparent, market opportunities are likely to pivot towards traditional consumer sectors and the real estate industry chain.