The research report issued by CITIC Securities indicates that during the first half of 2026, the technology sector is set to witness substantial growth, with profit expansion significantly outstripping revenue growth. This surge is largely fueled by the soaring demand for AI computing power, which has propelled increases in both volume and prices throughout the entire industry chain. Notably, the semiconductor, communication equipment, and computer equipment sectors have showcased the most remarkable performance achievements. Following the market correction in July, the technology sector has seen a certain degree of relief from overcrowding and valuation pressures. The robust growth reflected in the semi-annual reports continues to justify current valuations, and the market is gradually transitioning from being valuation-driven to earnings-driven. When examining individual industries, a divergence in performance becomes evident. The electronics and computer industries are leading the pack in terms of revenue and profit growth, while the communication and media sectors remain resilient (stable). In contrast, the automotive industry is grappling with negative profit growth and is under significant pressure. The AI computing power chain (encompassing storage, PCB/CCL, optical communication, AI servers, etc.) has been the primary contributor to the incremental growth, with promising growth prospects anticipated in domestic computing power, semiconductor equipment, AI applications, AI terminals, and other related segments.