Sinolink's research reports indicate: ①Domestic demand: Policy logic shifting, countercyclical adjustments intensified, fundamentals expected to see a turnaround. ②Exports: USA economy showing resilience, export prosperity expected to continue. Focus on three main themes: 1) Domestic demand direction: Significant pressure on domestic demand in the previous period, policy intensification by the end of September, fundamentals expected to bottom out and rebound, leading valuation to return from absolute bottom to the mean; 2) Export targets in the alpha chain: USA in a rate-cutting cycle and with economic resilience, recommended to pay attention to targets benefiting from overseas liquidity relaxation, continue to focus on companies with good apparent growth rates and solid mid- to long-term logic; 3) Dividend growth opportunities: Continuously monitor companies with sustainable operations and excellent cash flow, as well as good interest-bearing assets.