Core Viewpoint - The trend of A-share listed companies seeking to list on the Hong Kong stock market (H-shares) is increasing due to favorable policies, leading to more A+H stock options for investors [1][2]. Group 1: A-share vs H-share Investment Analysis - A-shares have strong liquidity and advantages in trading costs and taxes, but they tend to have relatively high valuations [2][4]. - H-shares generally trade at a discount compared to A-shares, influenced by factors such as investor structure, liquidity, market regulations, and exchange rates [2][3]. - The trading mechanism of H-shares is mature and more internationalized, with some companies having lower valuations compared to their A-share counterparts, presenting a price advantage [2][4]. Group 2: Investment Considerations - The AH premium rate (the price difference between A-shares and H-shares) is a crucial indicator for investors, with a premium rate above 130% indicating that H-shares may be more attractive, while below 120% suggests A-shares could be more appealing [3][4]. - For mainland individual investors, investing in H-shares through the Hong Kong Stock Connect incurs a 20% dividend tax, which can diminish the dividend yield advantage of H-shares compared to A-shares [4].