Central China Securities stated that while some real estate data reductions have narrowed and the effects of the real estate loose policy are beginning to show, the industry is still relatively sluggish in absolute terms, undergoing an adjustment process; the August building materials and furniture market continues the traditional off-season trend, with a widening decrease in the growth rate of furniture retail sales that month, indicating that the retail demand for furniture is still weak; the growth rate of furniture exports accumulated from double digits has decreased to single digits, with the export amount for the month narrowing the decline, and the export sentiment being moderate; the country's intensified release of real estate policies is expected to restore market confidence and drive the stabilization of real estate sales; with the support of the consumer goods replacement policy, furniture consumption is expected to grow; the Fed's rate cut has begun, and the export sentiment of China's furniture industry is expected to improve; due to the dual impact of real estate and consumer constraints in the early stage, the valuation of the furniture sector has been historically low, and with the current policy exceeding expectations, it is expected to boost the valuation of the furniture sector, with further expectations for sector valuation recovery driven by improved domestic and external demand for furniture.