[CITIC Construction Investment: It is recommended to increase the allocation proportion of high-quality central enterprises in the fields of coal, electricity, real estate, banking and other fields] On October 13th, CITIC Construction Investment Research Report pointed out that the Party Central Committee and the State Council issued the "Opinions on Developing New Quality Productivity", and the top-level system design for the development of new quality productivity was completed. The State-owned Assets Supervision and Administration Commission actively implemented the arrangements of the Party Central Committee, and central state-owned enterprises intensively adjusted their business layout. The State-owned Assets Supervision and Administration Commission made it clear that central enterprises are planning ahead for the construction of "six networks" including water networks, new power grids, computing power networks, new generation communication networks, urban underground pipe networks, and logistics networks, with annual planned investments of approximately 2 trillion yuan. In the fourth quarter of 2026, we recommend that investors adopt a balanced investment strategy to construct an investment portfolio. In the first half of 2026, the technology sector rose sharply and the traditional sector fell sharply, resulting in a huge valuation gap. The upgrading and transformation of traditional industries, the professional integration of traditional industries, and the correction of involution competition will bring opportunities to reverse the plight of low-valued sectors. We recommend increasing the allocation proportion of high-quality central enterprises in coal, electricity, real estate, banking and other fields.