Gelonghui May 13| Huatai Securities Research News said that the financial data in April was weak, the M1 turned negative year-on-year, and the slowdown in the M1-M2 scissors spread indicated that the dumbbell configuration still has certain sustainability and necessity. Considering the repair of risk appetite or setbacks, the medium-term dimensional dividend is still a bottom-position choice, and marginally attach importance to the first quarter of 2024 financial reportsweetbonanzabuyfeatureIncremental information of: 1) Switch high and low within the dividend sector and between the A/Hong Kong stock dividend sectors, consider cost performance, positions, etc., and pay attention to banking, transportation, Hong Kong stock utilities, Hong Kong stock banking and other sectors. 2) Consider exports and supply pressure reduction, two high-rate prosperity strategies this year, and select middle and lower reaches export chains where ROE has stopped falling or improved and there are opportunities from the perspective of inventory/production cycle (Home appliances, textiles and clothing, commercial vehicles, automation equipment), biological products, optics and optoelectronic, agriculture, etc., 3) The theme section may still have interpretations, focusing on synthetic biology/Shun CPI/equipment updates, etc.
