成本支撑+需求稳增，行业价格底部反弹

Group 1 - The A-share market is experiencing significant volatility driven by geopolitical risks, market structure differentiation, and capital competition, transitioning from an index-driven market to a structure-driven market focused on earnings and capital [1] - The upcoming "Two Sessions" is expected to create a favorable policy environment, while the RMB remains strong, enhancing the attractiveness of Chinese equity assets [1] - Investment opportunities are suggested in sectors with short-term certainty such as oil and gas, petrochemicals, coal, and non-ferrous metals, as well as in industries with improving supply-demand dynamics like basic chemicals, steel, construction materials, and finance [1] Group 2 - The global supply of vitamins A, E, and methionine is under pressure due to a drone attack on Qatar's energy facilities, which has significant implications for the European chemical industry [2][3] - Current prices for methionine and vitamins are at historically low levels, with methionine prices at 2.7% and vitamin E prices at 10.4% of their historical percentiles [2] - The decline in industry inventory since January indicates a transition from price bottoming to profit recovery, with key price increases noted for various products in February [3]