Propelled by the thriving tech growth sector, public funds have reaped substantial performance gains. Data indicates that the majority of funds across the market have delivered positive returns over the past two years, with over a thousand funds witnessing their returns double, and certain products even achieving returns in excess of 500%. Over this two-year span, the primary driver of market pricing has transitioned from valuation fixation (valuation recovery) to profit-driven growth. The AI industry chain has emerged as the linchpin of market trends, with tech growth assets entering a phase of profit realization. Funds with significant investments in areas such as optical communications and semiconductors have showcased exceptional net asset value performance. As the market trend unfolds, the ETF sector has expanded, and the public offering industry is undergoing a transformation from a star-product-centric model to a platform-based, 'shelf'-style product system.