According to the Research Reports from CITIC SEC, with long-term interest rates declining and the year-end market in focus, dividend assets are receiving considerable attention. As of December 20, the scale of dividend-related ETFs in the A-share market reached 79.2 billion yuan, with continued net inflow since December; the adjusted dividend yield and ROE of the CSI Dividend Index samples have rebounded to varying degrees. In terms of insurance capital configuration, based on the top ten circulating shareholders in all A-shares for Q3 2024, the proportion of high-dividend stocks held by insurance companies has decreased, while there is still significant configuration space for high-dividend stocks under OCI. For Hong Kong stocks, as of the end of November 2024, the total dividend amount has exceeded one trillion, maintaining a clear advantage over A-shares in terms of dividend yield. Companies that have implemented dividends have shown certain excess returns compared to those that have not, but caution is needed for companies with excessively high dividend yields as they may come with 'undervaluation traps'. The Hong Kong Dividend Index generally outperforms broad-based indices and offers higher yield stability.