Sou Hu Cai Jing·2025-12-09 04:39Group 1 - The core viewpoint of the article emphasizes the anticipation of a year-end market rally in A-shares, analyzed from five perspectives: fundamentals, policies, capital, valuations, and technicals [1] Group 2 - Fundamentals have not shown significant improvement yet [1] - Policy measures continue to be implemented, with a focus on maintaining stability and enhancing quality and efficiency in economic work, alongside more proactive fiscal and moderately loose monetary policies [1] - Incremental capital is gradually entering the market, with participation from various sources including individual investors, state-owned enterprises, and northbound funds [1] Group 3 - Valuations indicate that there may still be upward potential, with the risk premium of the entire A-share market at 54.01% as of December 8, 2025, remaining above the opportunity threshold [1] - The technical analysis shows that the Shanghai Composite Index has broken through the resistance line formed by the highs of 2007 and 2015, which may now serve as a support line for the current market trend [1] Group 4 - Investment strategies suggested include: (1) focusing on growth over dividends; (2) prioritizing sectors such as technology (overseas computing power, consumer electronics, edge computing, robotics, gaming, domestic computing power), lithium batteries (solid-state batteries, energy storage), non-ferrous metals, and innovative pharmaceuticals; (3) considering counter-cyclical buying in the aforementioned sectors during significant market declines [1]