融资与投资，在市场周期中有什么不同？｜投资小知识

Group 1 - The core viewpoint of the article emphasizes that during bear markets, the valuation of stocks is low, leading to limited IPOs and refinancing activities. In 2024, the lowest point for A-shares was 5.9, with total IPO financing only reaching 67.3 billion and total financing, including additional issuances, around 288 billion [2] - In 2024, the total dividend payout for A-shares is projected to reach 2.4 trillion, indicating that the market is characterized as a dividend market where total dividends significantly exceed total financing [2] - The article suggests that when the market reaches a bull phase, stock valuations will increase substantially, and the investment value of stock assets will decline as prices rise, necessitating profit-taking strategies [2]