Eliza Wong
Tech Sector Momentum Reaches Fever Pitch Across Global Markets
The technology sector’s remarkable rally continues to defy expectations, creating unprecedented wealth generation opportunities across global equity markets. Oracle’s staggering 36% single-day surge, adding approximately $200 billion in market value, propelled founder Larry Ellison to become the world’s wealthiest person with $393 billion. This spectacular performance underscores the accelerating momentum behind artificial intelligence-driven technological transformation.
Chinese markets have demonstrated particularly impressive participation in this global tech renaissance. The STAR Composite Index (科创综指, 000680) has delivered exceptional returns, gaining 42.7% year-to-date through September 11, 2025, significantly outperforming the CSI 300’s 15.58% and SSE 50’s 11.11% gains. This outperformance positions technology as the dominant sector within Chinese equity markets.
Hong Kong’s technology segment has maintained strong momentum, with the Hang Seng Tech Index advancing 31.8% in 2025 following a 19% gain in 2024. This sustained recovery reflects improving valuations and fundamental performance among China’s leading technology companies listed in Hong Kong.
Puyin AMC Emerges as Standout Performer
Puyin AMC (浦银安盛基金) has distinguished itself through exceptional fund performance during this technology bull market. The company’s Puyin AMC High-End Equipment Fund (浦银安盛高端装备, A类019864; C类019865) achieved record net values of 2.0984 and 2.0781 respectively on September 11, 2025. Remarkably, this fund has doubled its net asset value since its inception on March 28, 2024, ranking among the top performers in its category.
The Puyin AMC Global Intelligent Technology Fund (浦银安盛全球智能科技, A类006555; C类014002) has demonstrated equally impressive results. Since its launch on January 29, 2019, the Fund’s A-share class has delivered 133.87% cumulative returns, navigating multiple technology cycles while maintaining steady growth through both corrections and AI-driven rallies.
Investment Philosophy: Focusing on Implementable AI Opportunities
Puyin AMC’s success stems from a disciplined investment approach that prioritizes practical, revenue-generating technology applications over speculative concepts. Fund Manager Li Haoxuan (李浩玄) exemplifies this philosophy through his focus on “implementable opportunities with measurable performance.”
Li’s background as a mechanical researcher provides unique insight into robotics and automation technologies. His 2015 joining of Puyin AMC’s research team coincided with China’s technology sector evolution, creating valuable perspective on sustainable growth patterns within the industry.
The Five-Dimensional Investment Framework
Li employs a sophisticated analytical model examining volume, pricing, market share, net profit margins, and valuation multiples. “Multiplying these five dimensions calculates market capitalization potential,” Li explains, “though volume estimates create significant outcome variations among analysts.” This framework requires continuous calibration as industry dynamics evolve.
During the initial ChatGPT excitement in 2023, many investors chased speculative AI concepts. Li maintained discipline, avoiding “pseudo-AI” stocks while concentrating on robotics supply chain components and original equipment manufacturers. This strategic positioning proved prescient as only upstream computing power beneficiaries maintained momentum.
The convergence of large language models with robotics has created embodied intelligence opportunities, forming complete industry ecosystems. Li identified component manufacturers as primary beneficiaries, recognizing that regardless of which robotics companies succeed, component suppliers would experience demand growth.
This thesis validated dramatically during 2025’s humanoid robot production initiation, with component manufacturers reporting substantial year-over-year earnings growth. Li’s fund captured these gains, delivering 56.47% year-to-date returns through September 11, 2025.
Global Innovators Strategy: Comprehensive Technology Exposure
Puyin AMC’s Global Innovators (全球科创家) platform represents a strategic initiative aggregating premium technology assets across A-shares, Hong Kong listings, and American markets. This comprehensive approach enables investors to participate in robotics, computing power, and AI application developments globally.
The strategy constructs a technology investment matrix spanning multiple geographic markets. The High-End Equipment Fund concentrates on robotics and semiconductor sectors, while the Science and Technology Innovation Optimal Fund (浦银安盛科技创新优选, 009048) emphasizes artificial intelligence and computing infrastructure.
International Perspective Enhances Investment Decisions
Fund Manager Yu Jin (俞瑾) emphasizes that “technology investment requires global perspective due to industry specialization and collaboration patterns.” Her international investment team recognized early that AI infrastructure development would drive GPU demand, benefiting NVIDIA and other advanced chip designers.
Puyin AMC’s QDII products established positions in world-leading AI companies during early development phases, demonstrating exceptional timing and research capability. This global outlook distinguishes the firm’s approach from domestically-focused competitors.
Sustainable Growth Drivers in Chinese Technology
China’s technology sector demonstrates increasingly competitive positioning across multiple advanced industries. Electric vehicle production accounted for over 60% of global output during 2024, while photovoltaic components represented exceeding 90% of worldwide market share.
Emerging sectors including AI large language models and humanoid robotics show accelerating development, narrowing historical gaps with international leaders. These fundamental industry trends provide structural support for continued technology investment outperformance.
Risk Management Considerations
Technology sector investments inherently involve elevated volatility requiring appropriate risk tolerance. Investors should avoid performance chasing and maintain long-term perspectives aligned with industry evolution cycles.
As Li Haoxuan notes, “Technology development follows cyclical patterns rather than linear progression. Maintaining investment discipline through fluctuations requires confidence in underlying industry trends.”
Strategic Implications for Institutional Investors
Puyin AMC’s success reflects deeper organizational capabilities beyond individual fund manager expertise. The firm combines intensive industry research, global market access, and specialized portfolio management teams creating sustainable competitive advantages.
For investors seeking technology exposure, firms with demonstrated research capabilities and trend identification proficiency offer superior risk-adjusted return potential. The Global Innovators strategy provides diversified access to China’s technology transformation across multiple sub-sectors and geographic markets.
Forward-Looking Market Assessment
Technology innovation cycles typically unfold over multi-year periods rather than quarterly increments. Current AI infrastructure development likely represents early-stage investment opportunities similar to internet infrastructure during the late 1990s.
Robotics and automation adoption appears positioned for accelerated enterprise implementation following technological maturation and cost reductions. Semiconductor industry dynamics continue evolving amid geopolitical considerations and manufacturing capacity expansion.
Investment Conclusion and Implementation Guidance
The technology sector’s strong performance reflects fundamental transformation across global economies. Artificial intelligence, robotics, and automation technologies are reshaping productivity patterns and creating new growth opportunities.
Puyin AMC’s Global Innovators strategy has demonstrated exceptional ability to identify and capitalize on these trends through disciplined investment processes and global perspective. The firm’s focus on implementable technologies with measurable business impacts distinguishes its approach from speculative competitors.
Investors should consider allocating to technology strategies managed by firms with demonstrated research capabilities and long-term orientation. Maintaining appropriate portfolio diversification while participating in structural growth trends remains essential for sustainable wealth creation.
Monitor technology sector valuations relative to growth prospects, focusing on companies with sustainable competitive advantages and scalable business models. The ongoing AI revolution likely represents a multi-year investment opportunity requiring patience and discipline for optimal results.
