I won't say riddles outside the wall either. After the departure of Yi Huiman from the original faction, the A-share market as a whole showed a stable and long-term upward trend. And the junk IPOs brought by the registration system in the past will also be cleared, and A-shares have emerged from the cash out vortex —————— Goldman Sachs also pointed out in its 11/21 research report that A-shares have entered a five-year slow bull cycle The key index is expected to rise by 30% -40%, despite the MSCI China Index rebounding 80% from its low point in 2022. But from the perspectives of policies, profits, valuations, funds, and personnel changes at the China Securities Regulatory Commission, the subsequent upward trend is more sustainable Water release has also shifted from the real estate market to the stock market —————— What is worth paying attention to? 1. AI、 Anti internal competition and overseas driving EPS growth to 12% -The overall expenditure on AI has increased, the profit margin of high volume industries has rebounded, and high-end manufacturing accounts for 16% (13.6% in 2021), significantly enhancing global competitiveness. At the same time, the drag of real estate has significantly slowed down, and institutional risks have slowed down 2. Top 10 Leading Companies, 15th Five Year Plan Revenue Stocks AI、 Leading the way overseas becomes a future growth opportunity -Despite performing exceptionally well this year, Goldman Sachs still maintains its over allocation 3. The market is turning from "hope" to "growth", and policies have become a stronger and more stable driving force