China Galaxy Securities stated that the current valuation of the A-share market is at a historically moderate level. Looking ahead, the A-shares are expected to fluctuate upward. In terms of allocation, key areas of focus include the following: 1. Technology innovation themes based on self-controllable logic and the requirements of developing new quality productive forces. 2. The "two new" themes related to large-scale equipment updates and consumer goods trade-ins. As the trade-in program for consumer goods continues to advance, it is expected to drive rapid growth in sales of key consumer goods such as Autos, home appliances, and home decoration, which will help boost performance recovery. Additionally, the CSI Consumer 360 index is currently valued at a historically low level, making it a high investment value. 3. Continuing to be Bullish on the dividend sector with strong risk-averse properties, with a focus on central state-owned enterprises.