Institutional investors' research is focused on the TMT field, with foreign investors such as Morgan Stanley and Citigroup conducting intensive research on Lanqi Technology, and CICC and Sequoia Capital conducting intensive research on Juglans Technology. Yifangda Fund and Gaoyi Asset are conducting intensive research on Crystal Optoelectronics, with a focus on the AR field.

CICC's research report pointed out that investors should follow the sectors with better-than-expected or quarter-on-quarter improvement in performance, as well as the TMT industry with gradually recovering performance and industries achieving supply-side reforms. In addition, they should grasp the inflection point of the fundamentals and the resilience of the recovery, and grasp the current investment strategy.

Golden Ten Data reported on December 27 that CITIC Securities Research reported that 2024 is the first year of the new A-share delisting regulations, and the trigger conditions for delisting risk warning (ST) involve four main directions: financial, transactional, standardized, and major violations. In response to the small and micro market market that the market is concerned about recently, CITIC Securities has analyzed all the penalties imposed on listed companies by the regulator since the beginning of this year, and has not found that there has been a rapid tightening of supervision for small and medium-sized market cap companies in the near future. Since late November, the A-share trading loss index has continued to deteriorate, and the proportion of TMTzone transactions in all A transactions has returned to a high level, which may lead to the spontaneous "closing circle" behavior in the rotation of market hot themes, bringing a small Market Cap style

The A-share market outlook is positive, mainly due to the bottoming out and recovery of the corporate profit cycle, the high-quality development of the Capital Market, and the historical low market valuation. Currently, dividend strategies and technology growth zone are worth focusing on for allocation.