Core Viewpoint - The article discusses the 2025 research framework training organized by Guotai Junan Securities, emphasizing the importance of understanding macroeconomic trends and investment strategies for future opportunities [8]. Group 1: Research Framework - The training sessions are scheduled for August 18, 19, 25, and 26, from 9:00 AM to 5:40 PM, focusing on total volume and strategic analysis [1]. - The framework includes discussions on capital, return on equity (ROE), and risk assessment methodologies [1][4]. Group 2: Market Insights - The article highlights the significance of cyclical asset allocation and macro momentum in investment strategies [4]. - It mentions the inclusion of unprofitable companies in the A-share placement range, indicating a shift in market dynamics since the launch of the Sci-Tech Innovation Board and the registration system for the Growth Enterprise Market [4].