According to AI News, CICC's research report shows that after summarizing the performance of nearly 400 overseas Chinese stocks in the fourth quarter and annual reports, the profits of overseas Chinese stocks increased by 1% in 2023, with low profits and high profits. Downstream consumer sectors have improved, while upstream sectors such as raw materials and energy have performed poorly, and the technology sector has differentiated. In the first quarter of 2024, the prosperity of the non-ferrous metal, energy, education and training, and telecommunications sectors has increased, and the performance of technology and hardware may still be under pressure. Based on the actual growth situation in the first quarter, the institution has slightly raised its 2024 profit forecast from 4.5% to 5% under the benchmark scenario, but it is still lower than the current market consensus expectation of 10%. This is mainly due to the recovery of profits for the whole year of 2024 but insufficient endogenous momentum, and the progress of subsequent policy implementation is still crucial. In the second quarter, the market may turn volatile, and the re inflation trading represented by the pro cycle may cool down. Dumbbell allocation and high dividends may make a comeback.