Core Viewpoint - The article discusses the significant losses faced by retail investors in the A-share market, highlighting that 81% of retail investors incurred losses with an average loss of 21,000 yuan, while only 19% achieved positive returns, indicating a scarcity of profitable investment opportunities [4]. Summary by Sections Retail Investor Performance - According to data from the China Securities Association, 81% of retail investors lost money in the first ten months of 2025, with an average loss of 21,000 yuan. The loss rate for investors with less than 100,000 yuan is as high as 98.7%. In contrast, only 19% of retail investors achieved positive returns, with less than 5% earning an annualized return exceeding 15% [4]. - The article emphasizes that in the A-share market of 2025, investors achieving annualized returns above 30% are less than 0.5% [4]. Data Credibility and Analysis - There are claims that the statistics presented by the China Securities Association are questionable, as the association does not have access to comprehensive market data and relies on reports from securities firms [12][14]. - The article mentions that while long-term trends indicate retail investors often incur losses, the current market conditions may differ, as some reports suggest that around 50% of retail investors are profitable this year [16]. Comparative Statistics - The article presents statistics from various trading competitions, showing that the percentage of profitable participants ranges from approximately 38.8% to 56.84% across different contests, suggesting a more optimistic view of retail investor performance than the earlier statistics [17]. - It also discusses the distribution of account sizes and their corresponding loss rates, indicating that accounts under 10,000 yuan have a loss rate of nearly 99.9%, while larger accounts show a higher percentage of profitability [20].