Xin Lang Cai Jing·2026-01-12 00:26Group 1 - The core viewpoint is that the A-share market continues to rise with increased trading volume, driven by heightened risk appetite and the ongoing spring rally [1] - The strong momentum effect suggests that there may still be room for the spring market to grow, but the trading structure is becoming concentrated, indicating a potential shift towards rotation in the market [1] - As the earnings forecast window approaches, it is recommended to focus on high cost-performance sectors, particularly those benefiting from improvements in external demand and themes with relatively low crowding [1] Group 2 - Specific industries to watch include gaming, duty-free, batteries, construction machinery, and agrochemicals [1] - The mid-term allocation strategy remains unchanged, with a focus on accumulating upstream resource stocks in the power chain during dips [1]