Data sourced from Simuwang reveals that, as of September 12, the average equity position of private stock - investment institutions across the market has surged past 78%. This marks an increase of nearly 3 percentage points compared to September 5, reaching the highest level observed throughout this year. Several private equity firms, each managing assets exceeding RMB 10 billion, have maintained medium - to - high equity positions. Moreover, they have taken advantage of low prices to increase their stakes in high - quality stocks within sectors such as technology and innovative pharmaceuticals. Industry insiders are of the opinion that, although the rapid rise in technology and related sectors has expedited short - term market sector rotation and the reallocation of capital between high - and low - valuation positions, in the long run, the competitive edge of China's advantageous industries and the trajectory of economic recovery remain intact. It is anticipated that the structural market trends in both the A - share and Hong Kong stock markets will persist.