Core Viewpoint - The Chinese stock market is entering a new growth cycle driven by artificial intelligence (AI), the "anti-involution" trend, and the expansion of Chinese companies overseas [1] Group 1: Market Predictions - Goldman Sachs predicts a potential return of approximately 30% for A-shares and H-shares by the end of 2027, based on a 12% annual compound earnings growth rate and a price-to-earnings (PE) expansion of 5% to 10% [1] Group 2: Sector Performance - Chinese technology stocks have seen significant gains this year, particularly in AI-related sectors, driven by improved market expectations and sentiment-led valuation increases [1] - The overall valuation of the technology sector remains attractive, but the focus may shift from sentiment and expectations to actual corporate performance in the coming year [1] Group 3: Future Outlook - The ability for valuations to rise further will depend on the realization of actual earnings [1]
高盛：看好中国股市迈入增长周期 预计A、H股至2027年底取得约30%潜在回报
Zhi Tong Cai Jing·2025-11-03 02:21