培育长线牛股 需下硬功夫

Group 1 - The core viewpoint of the articles emphasizes the cyclical and structural characteristics of the A-share market, highlighting the increasing scarcity of long-term bull stocks as institutional investors rise and market regulation strengthens [1] - As of June 13, 2023, there are 127 stocks that have increased by over 500% since 2015, which represents a low proportion of the entire A-share market [1] - The formation of long-term bull stocks reflects the market's discovery and recognition of corporate value, leading to resource allocation towards high-quality companies [1] Group 2 - To become a long-term bull stock, companies should focus on enhancing their business capabilities and ensuring sustainable operations rather than relying solely on short-term valuation increases [2] - The average diluted return on equity (ROE) for the 127 long-term bull stocks was 13.18% in 2015, which was 4.6 percentage points higher than the A-share average; this difference increased to 9.72 percentage points by 2024, with the ROE reaching 16.23% [2] - Long-term bull stocks exhibit unique advantages in profitability metrics such as gross profit margin, net profit margin, and return on equity [2] Group 3 - The presence of long-term bull stocks may attract more investors to focus on long-term value investment, encouraging a valuation system that emphasizes long-term growth potential and intrinsic value [3] - Investors are advised to develop a keen business insight to identify high-quality companies with long-term growth potential, rather than relying on market trends or subjective judgments [3] - The dynamic nature of market capitalization reflects a company's profitability, and high growth with high valuation carries risks; thus, selecting the best companies is crucial for risk management [3]