China Securities Co., Ltd.'s Chen Guo stated that recently the market has shown signs of improvement in terms of profit expectations, liquidity expectations, and risk preferences. He believes that the areas where policies were previously implemented are beginning to show results, and it is expected that the policy deployment of the important December meeting will be expanded and strengthened. Regarding overseas developments, the market's focus on the theme of trade "Trump 2.0 trade" is gradually stabilizing, with the US dollar and US bond interest rates peaking and falling back, the Renminbi exchange rate against the US dollar stabilizing, Trump's announcement of a 10% tariff increase better than the market's pessimistic expectations, from a seasonal allocation perspective, the inflow of insurance funds and other medium to long-term funds by the end of the year and the beginning of the year is also worth looking forward to. Overall, the year-end market trend continues to look promising. In the short term, if the market experiences volatility and corrections, investors may consider active layouts. Key industries to focus on: non-bank financial institutions, real estate chains, consumer electronics, machinery, construction, building materials, steel, social services, etc. Key themes to focus on: new quality productivity, "two reductions and two additions," supply-side optimization, state-owned enterprise market cap management, etc.