Zhongjin: Grasping the turning point of the fundamentals and the possibility of repairing elasticity may be an important investment idea at present.

CICC pointed out that April is about to usher in a period of concentrated disclosure of quarterly reports. Combining first-quarter performance, the following investment themes are worth paying attention to: The current market is affected by external uncertainties and is volatile. Grasping the turning point of the fundamentals and the potential for recovery may be an important investment strategy at present. Key areas to focus on during the performance disclosure phase include: 1) Highlight areas in the first-quarter performance, such as the upstream resource sector, the TMT sector benefiting from the AI boom, export chains, and non-banking financial institutions. 2) Economic growth: With the rapid development of the AI industry, industrial trends continue to support demand growth. Focus on optical communications directly benefiting from AI technology landing, as well as batteries and energy storage that benefit from energy security and industrial chain security. 3) Cyclical resource stocks: Taking into account the position of the production cycle, focus on sub-sectors that are supported by the supply-demand pattern for price increases and performance certainty, such as electricity grids, and the chemical industry. 4) High dividend stocks: During a period when market risk preferences have not fully recovered, high dividend stocks have a relative income advantage. However, their performance may show periodic and structural characteristics over the entire year.