Focusing on the overall technology sector, it has benefited from the return to easing of global liquidity, combined with stronger domestic financial and capital market policies, a marked increase in market risk appetite, and a marked recovery in the technology growth sector over a long period of time. From a strategic perspective, BOC Securities said profits are recovering weakly, valuations are strongly supported, technological growth is at the starting point, and A-shares are expected to be supported by resonant profit valuations in 2025. The agency said that the country will be in a macroeconomic environment of broad monetary and fiscal leniency, and whether fiscal strength can bring about substantial stabilization of demand is a key variable. Under the benchmark assumption, the domestic credit environment and A-share profits are expected to bottom out and recover. In terms of style, the growth style is at the starting point of three major level dominance, and the probability of emerging growth prevails in 2025.