The research report of Cinda Securities pointed out that over the past two months, the value style has significantly strengthened and shown a diffusion trend, with financial, cyclical, and consumer sectors taking turns to perform. This is primarily because the period around the year-end marks a Performance gap period (performance lull, translated as 'a period with no earnings announcements' for clarity in context), during which sectors lack quarterly high-frequency data to support their performance, and fluctuations mostly stem from valuation and expectations. The current market style diffusion is still in the stage driven by valuation, expectations, and capital, and is expected to last for at least 1-2 quarters. However, for the style diffusion to transform into an annual market trend, the fulfillment of the earnings logic for value stocks needs to be observed. Prior to this, the technology-driven mainline with stronger long-term industrial logic is expected to make a comeback.