Market Outlook - The current market is approaching a bull market phase, with 4500 points seen as the true starting point for a bull market, while the current level around 3700 points is considered low and a potential "floor price" [1][3][4] - Systematic risks in the market are currently low, and investors are encouraged to adopt a "do not sell" strategy as the market trends towards a bull phase [4][5] Investment Strategy - Investors should focus on high-certainty stocks within their understanding, emphasizing long-term holding to mitigate market volatility [1][4] - The consumption sector, particularly leading companies in food and beverage, is expected to perform well due to their ability to navigate economic cycles and maintain controllable inventory levels [2][4][12] Sector Insights - The pharmaceutical sector, including innovative drugs and traditional Chinese medicine, is viewed as having significant growth potential driven by an aging population and increasing demand for chronic disease medications [9][11] - The valuation of consumer stocks is considered reasonable, with dividend yields surpassing those of some bank stocks, indicating a favorable entry point for investors [10][12] Cultural Factors - The white liquor sector is perceived as undervalued, with the enduring cultural significance of alcohol consumption suggesting continued demand [13][14] Market Comparisons - The Hong Kong stock market has shown stronger performance than the A-share market over the past year, indicating a synchronized upward trend towards a bull market [14] Technology Sector Perspective - While the technology sector, particularly in AI and robotics, is recognized as a significant growth area, the uncertainty and rapid changes in this field lead to a cautious investment stance, as it conflicts with a long-term holding strategy [15][16]