A recent research report by CITIC Securities highlights that Sino-US trade negotiations may remain constrained unless the United States lifts all unilateral tariffs imposed on China. Currently, domestic policies are geared towards bolstering support and responsive measures, with April's policy initiatives serving as initial tests and precautionary steps. The market is currently dominated by themes centered around comprehensive chip supply chain clearing and those relatively insensitive to immediate performance fluctuations. Despite an overall buoyant market sentiment, the technology sector has underperformed compared to pharmaceuticals and consumer goods, making it more susceptible to shifts in risk appetite. In May, investors should closely monitor the rotation among emerging technology and industrial themes, the recovery of global technology supply chains, and the implementation of policies aimed at stimulating domestic demand within the service industry.