[CICC: growth style is expected to re-dominate and focus on three main lines]-CICC believes that market sentiment has moderated slightly recently, major indices have initially shown signs of stabilizing, trading volume has rebounded, the RMB has risen slightly, and northward capital has returned to net inflows. In the future, we believe that the short-term performance of the market may still be repeated, but the fastest period of adjustment may be over, and domestic factors, especially the vivid and repairable progress in the economy, will still be the main contradiction that determines market performance. If the policy is properly addressed, it is expected to gradually improve the current pessimistic expectations of investors. Industry advice: growth style is expected to regain dominance. Investors are advised to pay attention to the following three main lines: 1) the science and technology growth track that conforms to the trend of the emerging artificial intelligence industry and the domestic policy direction of vigorously developing the digital economy, such as semiconductors, media games, etc.; 2) the consumer industries which are negatively affected by the epidemic in the early stage, the current cost pressure continues to ease, and the room for follow-up demand repair is relatively certain, such as liquor, household appliances, medical services, etc. 3) benefit from thematic opportunities such as Belt and Road Initiative and the reform of state-owned enterprises.