Galaxy Securities: We remain optimistic about the technology sector's industry-driven and cyclical sector price clues in the medium to long term.

A research report from Galaxy Securities of China indicates that the global equity market is likely to continue its high volatility trend, with the A-share market mainly digesting the volatility through fluctuations. However, amidst external uncertainties, the advantages of domestic certainty are highlighted, providing strong support for the resilience of the A-share market. The certainty of domestic manufacturing advantages is prominent, relying on a complete industrial chain system and continuously upgrading competitive advantages, forming an endogenous foundation to cope with external fluctuations. Energy security, self-reliance and industrial upgrading are clear main themes, possessing stronger defensive attributes and cost-effectiveness. As annual and first quarter financial reports are released, sectors with high earnings certainty and continuously improving business conditions will become the core focus of funds. In the medium to long term, the technology sector's industry drive and the cycle sector's price increase clues are still considered promising growth drivers.