Zheng Quan Shi Bao Wang·2025-09-01 05:36Group 1 - Current A-share market trading sentiment has entered an overheating stage, with a noticeable tendency for collective trading, necessitating attention to deteriorating trading structure [1] - The TMT sector's congestion level is approaching a warning line, while low-heat sectors like consumption and cyclical industries may offer better cost-performance in the next market phase [1] - By the first half of 2025, revenue and net profit are expected to turn positive year-on-year, indicating a clear turning point in the profit cycle and a mild recovery path for enterprises [1] Group 2 - After significant fluctuations in the index last week, the A-share market's chip structure has improved, further solidifying the foundation for market strength [2] - The "anti-involution" policy and demand-side policies will be crucial factors influencing the height of the A-share market in the medium term, with increased household savings entering the market as a key support for index strength [2] - The current abundant liquidity remains the main foundation for the market trend, with a good holding experience and profit effect continuously attracting incremental funds into the market [2]