Group 1 - The A-share market has shown strong performance in 2025, with major indices experiencing upward fluctuations, indicating sustained market resilience characterized by "low volatility and stable growth" [1] - The A-share market possesses multi-dimensional valuation advantages, and with the macroeconomic stabilization and continuous policy benefits in China, a value reassessment process based on fundamentals is expected to commence [1] - Long-term capital inflow is reshaping the market ecosystem, supported by policies aimed at fostering a "long money, long investment" framework, leading to a stable trend of long-term capital entering the market [1] Group 2 - Despite the market having risen for over a year, the outlook remains positive from multiple dimensions including valuation, fundamentals, and capital flow [2] - The current valuation of the CSI 300 index is around 14 times earnings, significantly lower than the over 20 times earnings of major overseas indices, highlighting the valuation gap in the A-share market [2] - The net profit of listed companies in China grew by 5.5% year-on-year in the first three quarters of this year, with a quarterly growth rate of 11.45% in Q3, indicating a solid foundation for future market performance [2]
稳中有进 未来可期
Jing Ji Ri Bao·2025-12-09 22:14