[CITIC Construction Investment: The post-holiday market is expected to usher in a recovery market after the short-term factors are digested] On October 7, CITIC Construction Investment believes that the pre-holiday A-share decline is driven by the concentrated resonance of multiple short-term factors, and the post-holiday market is expected to usher in a recovery market after the short-term factors are digested. Looking at profits in the short term: A-shares will enter a performance verification period in October; mid-term policies: a new round of policy may be coming; long-term focus on liquidity: the probability of an interest rate hike in October has dropped, but the 30-year U.S. bond interest rate is still high. CITIC Construction Investment expects that after the market recovers after the holiday, A-shares will continue to fluctuate as a whole and continue to have a balanced allocation of both offense and defense. Offensive end: Focusing on AI computing power (PCB, CCL, electronic cloth, etc.) and innovative drugs. Defensive end: Take dividend sectors such as banks, non-banks, coal, and public utilities as bottom positions.