朝闻国盛：2025年度金融工程策略展望

• The report highlights the macroeconomic outlook for 2025, suggesting a high probability of entering a credit expansion phase, which is favorable for equity asset performance[3] - The GK model indicates that large-cap broad-based indices are expected to deliver higher returns, supporting a preference for quality over growth, value, and small-cap styles in the upcoming year[3] - The "left-side inventory reversal model" identifies opportunities in industries such as electronics, automobiles, home appliances, and non-ferrous metals, as these sectors are likely at the end of an active destocking phase[4] - The "right-side trend model" demonstrated robust performance as of November 2024, achieving an absolute return of 16.4% and an excess return of 4.4% relative to the Wind All-A Index[4] - The "left-side inventory reversal strategy" achieved an absolute return of 24.9% and an excess return of 13.5% relative to the equal-weighted industry benchmark[4]