[Technology hardware is still an important investment main line in the market outlook] September 23rd, recently, enterprise-level AI infrastructure service provider Xinghuan Technology landed on the Hong Kong stock market, and another A-share listed company completed its listing in Hong Kong under the "A+H" model. Wind data shows that as of September 22, 35 A-share listed companies have successfully listed in Hong Kong this year, raising more than HK$240 billion, contributing more than 30% of the number of new shares and more than 60% of the total funds raised, becoming the "main force" in the Hong Kong IPO market this year. Judging from the performance of the secondary market, the Hong Kong stock market has shown a trend of fluctuation and adjustment since the beginning of this year, and the market's major stock indexes have rebounded in recent trading days. According to industry insiders, Hong Kong stocks may maintain a range-bound trend in the short term. Structural opportunities are still concentrated in technology hardware and high-dividend assets. Among them, the industrial prosperity of AI infrastructure, semiconductors and hardware equipment is still relatively high. However, the subsequent market may further shift from "the beneficiary of capital expenditure expansion" to "the direction where capital expenditure returns can actually be realized." (China Securities Journal)