In May, TF Securities issued a research report outlining strategies to navigate market uncertainties. Considering economic rebound and market liquidity, the key investment themes can be distilled into three primary areas: firstly, technology advancements spearheaded by AI+ Deepseek breakthroughs and open-source initiatives; secondly, the valuation realignment and tiered recovery of consumer stocks; and thirdly, the persistent surge in undervalued dividends. Drawdowns in dividends are typically tied to robust industry trends, while the magnitude of undervalued dividends is influenced by the trajectory of the AI industry, which is contingent upon breakthroughs in both application and consumer domains. The crux of investing in the consumer sector lies in valuation. Presently, the consumer sector finds itself within a cycle characterized by low valuation, declining interest rates, and a policy-driven recovery. Excessive pessimism towards consumption presents risks, necessitating close monitoring of Hang Seng Internet.