Since the turn of the year, the A-share market has experienced notable structural opportunities, shaped by a confluence of factors including the resurgence of economic fundamentals, the burgeoning growth of domestic technology industries, and fluctuations in market sentiment. Since the start of April, additional volatility in global stock markets has further swayed investor expectations. As we look ahead to the second quarter, numerous prominent private equity firms share a common view: despite lingering external uncertainties, domestic policy support and favorable market valuations will underpin the A-share market. The market is anticipated to differentiate amidst volatility, offering opportunities for investors to capitalize on these distinctions. Overall, expectations lean neutral to positive. Within this landscape, the consumption and technology sectors, bolstered by policy incentives and industrial upgrading trends, are poised to become the cornerstone of institutional layouts. Conversely, high-dividend assets and risk-averse investments are viewed as crucial hedges against market volatility.