【Citic Securities: There Is Still Room For Allocation Of Dividend Assets In A Low Interest Rate Environment】According To The Citic Securities Research Report, Dividend Assets Have Attracted Much Attention Due To The Decline In Long-Term Interest Rates And The New Year'S Eve Market. In Terms Of A-Shares, As Of December 20, The Size Of Dividend-Related ETFs Reached 79.2 Billion Yuan, And Has Maintained A Net Inflow Since December; Dividend Rates And Roe Have All Rebounded To Varying Degrees After The China Securities Dividend Index Sample Was Adjusted. Looking At The Insurance Capital Allocation Situation, Based On Statistics From The Top Ten Tradable Shareholders Of All A-Shares In 2024Q3, The Share Of High Dividends In Key Stocks Held By Insurance Companies Has Declined, While Insurance Capital Under Oci Still Has A Lot Of Room To Allocate To High-Dividend Stocks. In Terms Of Hong Kong Stocks, As Of The End Of November 2024, The Dividend Amount Of Hong Kong Stocks Has Exceeded Trillion Dollars, And Has Continued To Maintain A Clear Advantage Over A-Shares In Terms Of Dividends. Implemented Dividends Have A Certain Amount Of Excess Income Compared To Companies That Have Not Implemented Dividends, But We Still Need To Be Wary Of The “Undervaluation Trap” In Companies With Excessive Dividend Rates. The Hong Kong Stock Dividend Index Can Generally Outperform The Broad-Based Index And Have Higher Return Stability