On September 20th, Gelonghui reported that weibo (9898.HK) rose more than 4% again, with a 2-day consecutive increase of nearly 10%, reaching HK$61.4 to set a new high in nearly a month, with a total market value of HK$14.9 billion. China Securities Co., Ltd. recently maintained a "buy" rating on weibo, pointing out that it has made positive progress in the vertical ecological field. Since 2021, the scale of vertical content has continued to grow and accounts for 40% of the total. In addition, the industry is paying close attention to the situation of FMCG and e-commerce sectors during the bottoming out of the advertising cycle. This is essentially a cycle of clearing inventory of existing products, and it is bullish on the overall upward trend of weibo advertising after the clearance of inventory.