Mei Ri Jing Ji Xin Wen·2025-05-30 14:49Group 1 - The core viewpoint is that the Chinese capital market is expected to enter a long bull market, driven by improved ROE returns and the increasing influence of leading brands, even if GDP growth slows to a medium-high rate [3][4]. - Wang Sheng has been appointed as the new General Manager of Shenwan Hongyuan Research, succeeding Zhou Haichen, and aims to explore a more flexible and agile organizational structure to empower analysts [1][5]. - The research institute will focus on intelligent investment research, leveraging big data, algorithms, and computing power to enhance its research methodologies and frameworks [6]. Group 2 - The Chinese capital market is characterized by a well-designed top-level structure, improved corporate governance, and a rising awareness of shareholder returns, with dividends and buybacks exceeding financing for three consecutive years [3][4]. - The emergence of Chinese technology companies, such as Huawei and ByteDance, is creating a unique opportunity for growth in the new economy sector, coinciding with the global advancement of artificial intelligence [4]. - Wang Sheng emphasizes the importance of stable teams, solid research styles, and systematic frameworks in building client trust within the sell-side research sector [5].