Recently, the technology sector, having already delivered substantial profits, has been grappling with heightened volatility. On May 21, the sector witnessed a notable sell-off. The Science and Technology Innovation Board Semiconductor Equipment Index initially climbed around 3% in the morning trading session, only to plummet nearly 7% by the close, marking a single-day fluctuation range of nearly 10%. The following day, the market underwent a rotation within the technology sector, with the spotlight shifting from optical modules and semiconductor equipment to PCBs (Printed Circuit Boards) and consumer electronics. Kingboard Laminates, listed in Hong Kong, and A-share Shenghong Technology experienced significant surges, soaring 15.09% and 13.31%, respectively.

Several public fund managers are of the opinion that the current sharp market fluctuations do not indicate the conclusion of the rally. Instead, they view it as a resonance between profit-taking activities and fund reallocation strategies. As the market's microstructure approaches a sensitive juncture, it is actively seeking out potential assets to fuel a 'second surge'. The rotation between high- and low-value segments within the technology sector is gathering momentum for the next phase of the rally, with the growth-oriented investment style remaining at the heart of market speculation.