On October 29, Zhang Deli, chief macro analyst at Zhongtai Securities, said that the Double Innovation Index has been adjusted since the fourth quarter. Currently, it seems more about rebalancing valuations, not a reversal in industry trends and policy environments. On the one hand, industry fundamentals are improving in the medium to long term, and policies will continue to strongly support technological independence, but the market will fluctuate in the short term due to sentiment and other factors; on the other hand, there are many industries included in the index, and fluctuations in some industries with large increases in the previous period led to an overall index adjustment. In the future, we should pay attention to changes in profit expectations, progress in valuation repair, and whether more industries are becoming more popular for transactions.

On October 29, Zhang Deli, chief macro analyst at Zhongtai Securities, said that the Double Innovation Index has been adjusted since the fourth quarter. Currently, it seems more about rebalancing valuations, not a reversal in industry trends and policy environments. On the one hand, industry fundamentals are improving in the medium to long term, and policies will continue to strongly support technological independence, but the market will fluctuate in the short term due to sentiment and other factors; on the other hand, there are many industries included in the index, and fluctuations in some industries with large increases in the previous period led to an overall index adjustment. In the future, we should pay attention to changes in profit expectations, progress in valuation repair, and whether more industries are becoming more popular for transactions.