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牛市就到这了?
Sou Hu Cai Jing·2025-07-17 00:54

Group 1 - The core viewpoint is that the recent decline in bank stocks is influenced by changes in insurance company assessment periods, encouraging long-term investment strategies rather than short-term risk aversion [2][4][11] - The adjustment in bank stocks began on July 11, coinciding with a government policy announcement [3][4] - The banking sector is experiencing a historical shift, with non-performing loan rates expected to exceed net interest margins for the first time, indicating potential underlying issues [7][8] Group 2 - In the first quarter of this year, bank profits saw a decline for the first time in years, with the six major banks averaging a 2% decrease [9] - The banking sector has historically been conservative in profit reporting, with banks releasing hidden profits during economic downturns to stabilize the market [11] - Current valuations of bank stocks are considered average, but they still outperform other investment options like deposits, bonds, and real estate [12][13] Group 3 - Pop Mart reported a significant increase in revenue and profit for the first half of the year, yet its stock price fell due to market dynamics [14][15] - The high degree of market crowding in sectors like new consumption, pharmaceuticals, and non-bank financials is noted, which can lead to short-term adjustments [19][20] - Despite high growth expectations, Pop Mart's current valuation appears reasonable compared to historical standards, with a projected PE ratio of 34 based on anticipated growth [22][23][29]