CICC pointed out that recently, the 2023 reports of listed companies have been released, and the increase in the level of dividends has become a prominent highlight in the financial report. At the structural level, the food and drink/communication/textile and apparel dividend ratio is at the top. Specifically, most of the high-dividend sectors are in traditional undervalued industries that are biased in value; industries with high dividend ratios are mainly concentrated in the consumer industry, communications, and coal. Specifically, in the second-tier industry segment, the dividend rate and dividend rate are in the top 20% (that is, the dividend rate is greater than 2.8%, and the dividend rate is greater than 50%). The only industries that meet the requirements are coal mining, refining and trade, kitchen and bathroom appliances, communication services, white goods, clothing and home textiles, food processing, railway highways, accessories, beverages, dairy products, and lighting equipment. The trend of increasing the level of A-share dividends will continue, bringing more investment opportunities.