Haitong Securities: During the market's consolidation phase, the follow-up dividend of the market's shaking and rest phase, the main line is medium-term technology manufacturing and high-end manufacturing.

On December 22nd, Jin10 Data reported that the recent poor performance of dividend assets is mainly due to the increase in market risk appetite and the change in incremental capital structure. From the perspective of representative indexes, industries, and individual stocks, the overall valuation and trading heat of the current dividend zone is not high, but there are also structural differences. In the short term, the economic recovery process is slow, and the market is temporarily following the dividend during the shock consolidation phase, while in the medium term, technology manufacturing and high-end manufacturing are the main themes.