CITIC Securities says market style is entering a phase test and capital flows may produce a 'high-to-low' rotation. It flags the consumer sector as underweight, lowly valued, relatively high-yielding and sensitive to potential policy support, making sector rebalancing attractive. Recommended allocation themes: supply-side reversal in agriculture (livestock), structurally expanding service consumption, valuation-driven defensive staples, and new consumption as a long-term structural opportunity.