侃股：核心资产价值重估促A股屡创新高

Group 1 - The core viewpoint is that the A-share market is experiencing a slow bull trend driven by the revaluation of core assets, leading to new highs in the Shanghai Composite Index, although some investors are not benefiting due to market style differentiation [1][2] - In 2024, A-share core assets have undergone two rounds of value revaluation, first driven by the concept of "Chinese characteristics" focusing on state-owned enterprises, and second led by technology stocks such as AI and humanoid robots [1][3] - The revaluation of core assets is characterized by rational pricing of assets with certain returns, where the valuation premium becomes a market choice when core assets exhibit both growth and safety [1][3] Group 2 - The previous market trend of all stocks rising together has shifted to a more differentiated investment environment, where quality companies are on a slow upward trend while poor-performing companies face downward pressure [2] - The increasing scale of quantitative trading and high-frequency trading strategies has led to rapid style switching in the market, making it difficult for ordinary investors to navigate without falling into traps [2] - Institutional funds, including insurance capital, are increasingly favoring quality A-share assets, indicating a shift in the funding structure towards a more rational institutional-led market [3]