Recently, the ongoing correction in the technology sector within the A-share market has become a key focus of attention. Liang Hong, founder of Hainan Xiwa, disclosed in his latest weekly report that "certain insurance asset management giants" purchased tech stocks at elevated prices in July but significantly reduced their holdings in late September to mitigate losses. He noted that the short-term trading behavior of long-term funds, which are expected to act as stabilizers in the market, has instead exacerbated the downturn. This perspective has sparked intense debate among institutional investors. A senior executive from a leading insurance asset management firm emphasized that, bolstered by policy support, the company is steadily increasing its equity allocation ratio to provide long-term and stable capital for the capital market. Meanwhile, an anonymous securities analyst observed that while insurance outsourcing (public funds) reduced their positions at the end of the third quarter, the overall impact on the market remained limited.