投资有数｜有色金属年内涨幅超70%，超级周期或已起步

Group 1 - The core viewpoint of the article highlights that the leading sector in the A-share market is not the thriving TMT (Technology, Media, and Telecommunications) sector, but rather the traditionally viewed sector of non-ferrous metals [1] - The industry is expected to achieve good revenue growth in 2025, indicating that strong fundamentals will support stock price stability [2] - The global commodity resource market has reached a rolling yield bottom in 2020, suggesting a historical cycle of mean reversion is likely to occur [4] Group 2 - The issuance of fiat currency globally has become a central factor influencing industrial metal prices, emphasizing the importance of economic development fundamentals [6] - In the domestic market, the "anti-involution" trend has initiated a new inflation cycle, with cyclical resource companies in the A-share market expected to benefit from both global and domestic cycles, leading to a recovery in prosperity [9] - Investment opportunities in the current A-share resource sector can be captured through actively managed equity funds, with a specific focus on global commodity resources [11]