[Galaxy Securities: Recommend Continuing to Focus on Low-Valuation Opportunities in Hang Seng Internet Technology Giants] Galaxy Securities' research report states that as the capabilities of domestic large models continue to improve, the 'hundred-model battle' has entered the elimination stage and may lead to token inflation. Native large model companies, due to the purity of their business, have an advantage over traditional internet giants and are likely to attract short-term capital attention and enthusiasm. However, the competition for traffic entry points among traditional internet giants in the AI era is necessary, as traffic remains one of the most important assets in the AI era. In the long term, internet companies are expected to leverage their traffic advantages to regain their position in the AI era, with native large model companies potentially becoming an important part of their industrial chain. It is recommended to continue focusing on low-valuation opportunities in Hang Seng internet technology giants. Recommended focus areas and companies include: 1. Domestic computing power industry chain; 2. IDC service providers and computing power leasing; 3. Large model manufacturers; 4. Domestic information innovation manufacturers; 5. AI agents and applications; 6. Cloud computing providers; 7. Integrated machines and edge AI; 8. Companies involved in the supply, circulation, and application within the data element industry chain; 9. Industrial software. (People's Financial News)