[According to reports, Chinese regulators require listed companies to explain AI relevance, funds must disclose valuation methods] Golden Finance reported on May 22 that the recent artificial intelligence boom has driven the A-share market upward. Bloomberg, citing informed sources, stated that Chinese regulators have requested some listed companies and funds to provide information related to their AI connections. The Shanghai and Shenzhen stock exchanges have recently asked several listed companies to clarify whether their core businesses have substantial links to AI and whether their disclosures to investors are sufficiently clear. Regulators have also inquired with some ETFs heavily invested in AI-related sectors, as well as other fund managers, requiring them to disclose valuation methods and justify the reasonableness of their held assets. Reports indicate that regulators further questioned these funds on how they plan to address the risks arising from the growing disconnect between high valuations and corporate earnings. The STAR 50 Index, which has a high proportion of technology stocks in the A-share market, has been soaring since early April, with cumulative gains of approximately 50% to date.