这孙子，兵法用得真溜

Market Overview - The recent decline in stocks such as SMIC, Alibaba, JD, and CATL occurred precisely at 3 PM last Friday, indicating a normal correction in a bull market [1] - Since September, only the Sci-Tech 50 ETF, ChiNext ETF, and Hang Seng Tech have continued to rise, while major indices like the Shanghai 50 and CSI 1000 have seen declines [1] - The M1 growth rate has been improving since last year, which historically leads to corporate profit growth by 0.5-1 year [1] - As of September 24, the valuation of the CSI All Share Index increased from 14.7 times to a peak of 21.5 times, a nearly 50% rise, with 1,435 stocks in A-shares doubling in price [1] Investment Trends - The technology sector's market capitalization has surpassed 25% of the total A-share market, exceeding the combined total of the banking and real estate sectors for the first time [7] - Notable companies like CATL have seen a nearly 50% increase in their stock price this year, surpassing Kweichow Moutai in market capitalization [7] - The successful IPO of Moore Threads, raising 8 billion, marks the largest semiconductor IPO in A-shares this year [7] Company Insights - In the Hong Kong IPO market, companies like Zijin, Sipni, and Botai Che Lian are being closely monitored, with Zijin expected to yield small profits due to rising gold prices [3] - Oracle's investment in Nvidia and OpenAI, each amounting to 100 billion, highlights a closed-loop investment strategy among these tech giants [4] Dividend Trends - Over the past five years, A-share listed companies have distributed a total of 10.6 trillion yuan through dividends and buybacks, which is 2.07 times the amount raised through IPOs and refinancing during the same period [7]