On March 17, Financial Association reported that last Friday the market fluctuated and rose, with the Chinext Price Index leading the gains and the Shanghai Composite Index returning to 3,400 points, setting a new high for the year. The total trading volume in the Shanghai and Shenzhen markets that day was 1.79 trillion, an increase of 185.1 billion compared to the previous trading day. In terms of sectors, Insurance, Baijiu(Chinese Liquor), Baby and Child, and Deep Sea Technology were among the top gainers, while only a few sectors like Military Industry saw declines. By the close of last Friday, the Shanghai Composite Index rose by 1.81%, the Shenzhen Composite Index rose by 2.26%, and the Chinext Price Index rose by 2.8%.

At today's Brokerage morning meeting, HTSC stated that the special plan to promote Consumer spending is being implemented, and they are Bullish about the opportunities in Consumer reevaluation; GTJA believes that Consumer expectations are Diffusing, highlighting the growth value of Snack Food; China Securities Co.,Ltd. pointed out the importance of focusing on the direction of first-quarter report prosperity, with "AI+" remaining the core main line in the medium term.

HTSC: Implementation of special plan to promote consumption, Bullish on opportunities for consumer revaluation.

HTSC pointed out that on March 16, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued the 'Special Action Plan to Boost Consumption', which lays out the plan from eight major aspects including increasing income for urban and rural residents, ensuring consumption capacity, enhancing the quality of service consumption, upgrading large-scale consumption, and improving consumption quality. Among these, service consumption such as elderly and children's services/cultural and tourism, large-scale consumption like the replacement of old home appliances/home decoration, and new consumption such as IP+/AI+ are highlighted, which are expected to drive consumption from 'recovery growth' to 'endogenous expansion'. There is a positive outlook for the configuration opportunities in the CSI Consumer 360 index in 2025, as emotional consumption, the rise of domestic products, AI+ consumption, and the silver economy are likely to become structural investment main lines, with continued Bullish sentiment on the fundamental improvement in consumption as well as the revaluation of leading consumer stocks.

GTJA: Consumer expectations are spreading, highlighting the growth value of Snack Food.

GTJA pointed out that consumption is likely to show a trend of recovery in 2025. Under policy stimulation, the boosting of consumption expectations will aid the value restoration of the Food & Beverage sector. Currently, the sector's valuation restoration is Diffusing, with the trading expectations of Snack Food in the peak season being relatively sufficient. Benefiting from channel and category dividends, it is still in the performance release stage, and its growth value is emerging.

China Securities Co.,Ltd.: Focus on the direction of the first quarter report's prosperity, with "AI+" remaining the core main line in the medium term.

China Securities Co.,Ltd. pointed out that last week the Shanghai Composite Index surpassed 3,400 points, with total market value reaching a new high, and A-shares demonstrating an independent market trend during the significant decline in the U.S. stock market, reflecting a reassessment of market confidence. In the short term, attention should be paid to the fact that the current spring market's time and space have reached historical average levels. Structurally, technology growth has room for slight variations when referencing traditional cyclical highs and lows, but the current domestic demand recovery remains primarily structural. In the short term, a further appropriate rebalancing can continue, emphasizing the direction of first-quarter report prosperity. In the medium term, 'AI+' remains the core mainline. Sectors to focus on include: Non-ferrous metals, building materials, real estate, electronics, Communications, media, Computer, and Machinery equipment, among others. Themes to pay attention to include deep-sea technology.