As the year draws to a close, the A-share market has undergone a style transformation. The "steady bull" market has pivoted from the technology sector to the consumer and retail sectors. Following the interim peaks achieved by tech stocks, the consumer sector, which had previously lagged behind, is now experiencing a catch-up surge. A distinctive feature of this surge is the conspicuous absence of heavily weighted public funds among the leading stocks. Meanwhile, sectors like liquor, which are institutional favorites, continue to underperform. After enduring a prolonged period of adjustment, traditional consumer sectors such as liquor and dairy are now being regarded by numerous fund managers as "safe havens" in turbulent market conditions. On the other hand, the new consumer sector is characterized by both high growth potential and elevated valuations, rendering the selection of stocks with enduring "competitive moats" of paramount importance. Moreover, the capacity to "go global," especially in terms of penetrating the European and U.S. markets, is increasingly becoming a critical consideration for institutional investors when evaluating consumer stocks.