优质优价是未来的主线逻辑

Group 1 - The core viewpoint is that both Kweichow Moutai and Cambricon have reached significant stock price milestones, reflecting the "quality and price" logic in the A-share market [1][2] - Kweichow Moutai's high stock price is supported by brand scarcity, product demand exceeding supply, and stable performance, leading to high valuation and investor recognition [1][2] - Cambricon's rise showcases the premium pricing logic in the technology sector, driven by strong product performance and high investor expectations for future earnings growth [1][2] Group 2 - The deepening of the "quality and price" logic is expected to drive three major trends in the A-share market: restructuring of valuation systems, reshaping of industry dynamics, and upgrading of investment philosophies [2] - The traditional price-to-earnings (P/E) valuation method will be replaced by quality premiums, with companies possessing core technologies and brand barriers enjoying higher valuation premiums [2] - Quality companies will enhance market concentration through mergers and acquisitions, while inferior companies will be eliminated, leading to a concentration of market resources towards high-quality firms [2] Group 3 - The concept of "quality and price" is not limited to high-priced stocks; companies that build core advantages in quality, technology, and brand have the opportunity to gain long-term investment value in the capital market [3] - Identifying and holding such quality assets can provide investors with opportunities for profit amid long-term market fluctuations, as most quality stocks tend to exhibit a slow bull market trend [3]