Fuguo Fund believes that, from the current perspective, in terms of style, short-term market trades still tend to follow liquidity logic, and the switch between Small Cap and Large Cap styles does not yet have sufficient conditions. Subsequently, as the cost-performance ratio of Small Cap stocks declines after a rebound and expectations improve under incremental policy guidance, market style may marginally tilt towards Large Cap blue chips. In terms of industry, Technology growth is expected to remain active, but attention should be paid to the volatility risks after the previous gains. At the same time, under the catalytic effect of policy guidance, Consumer and Real Estate sectors also have opportunities for valuation uplift.