Recent bullish policies in the capital markets have been frequent, and market sentiment has significantly rebounded. Huaan analyst Jin Rong mentioned that the resilience of Hong Kong's internet sector performance continues to be confirmed. What is worth paying attention to now is the opportunity for valuation recovery. Especially with major e-commerce platforms adjusting their low stock price strategies, competition is expected to ease in the second half of the year, leading to potential improvement in operational efficiency. As market expectations gradually warm up, internet companies' earnings per share (EPS) may have greater elasticity. In the field of generative ai, major domestic internet companies are also actively expanding. Since Tencent established AILab in 2016, it has continuously driven basic research in artificial intelligence, and its multimodal large model has been applied in multiple scenarios. Alibaba's Damo Academy's continuous exploration in the fields of AI, machine learning, natural language processing, and computer vision also demonstrates its leading position, with AI product revenue achieving triple-digit growth. Other companies such as Kuaishou, Meitu, Xiaomi, etc., have also strategically positioned themselves in AI large models or applications, and are expected to benefit from this new technology cycle in the future.