Recently, Jing Jianwen, a macro strategy analyst at Datong Securities, said in an interview with a Taurus reporter from China Securities News and China Securities that the Chinese economy has shown strong resilience. In the medium to long term, the A-share market still has a foundation for recovery. Economic resilience, comparative valuation advantages, and growth potential of high-quality listed companies are important expressions of the current market investment value. “Structurally, the technology sector still showed some impressive performance.” Jing Jianwen said that some leading companies in the semiconductor and communications fields have continued their outstanding performance. The increase in performance is still high, net profit has increased year over year and month over month, and the degree of performance delivery is high, and there is strong performance support. Regarding industry valuations, Jing Jianwen believes that most industry valuations have not moved significantly upward. The last round of the market was more driven by the performance of the technology sector, and the increase in other sectors was relatively low. Recent adjustments in the technology sector are mainly related to market concerns about overvalued valuations and a possible bubble in the future. After a period of decline, valuations in the technology sector have declined somewhat from the previous high level without a widespread decline in performance. Regarding the current A-share market, Jing Jianwen said that short-term fluctuations are affected by emotional factors, and investors' sensitivity to bearish news has increased, amplifying the impact of some bearish factors. However, at the same time, many positive factors are being built up, regulations are being actively voiced, and companies with outstanding performance are also frequently appearing during the disclosure phase of the three quarterly reports, which helps ease market concerns. “In the medium to long term, the market still has a basis for recovery.” Jing Jianwen believes that domestic economic performance is stable and that economic resilience can provide strong support for the medium- to long-term stable development of the market. From a structural point of view, although the technology sector has experienced a major correction, valuations have declined somewhat, global technology competition continues, AI applications drive a closed loop of operations to gradually stabilize, and the medium- to long-term development trend is still positive.

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