This week, the three major A-share indexes collectively **, of which the Shanghai Composite Index rose 206%, the Shenzhen Component Index rose 329%, the GEM index rose 359%。In the first-class industry of Shenwan, electrical equipment and electronics performed strongly, and the former rose by 522%, the latter rose 443%。The latest PE of electrical equipment (excluding negative values, TTM, the same below) is 1664 times, with a P/E percentile of 119%。The latest PE for electronics is 3126x, with a P/E percentile of 2348%。
Haitong International believes that in the context of the construction of new power systems, with the large increase of new energy, the coordinated development of microgrids, active distribution networks and other forms of power grids and large power grids is conducive to the consumption of new energy, and at the same time puts forward new requirements for the development of distribution networks. In addition, under the new power system, new loads such as charging piles and user-side energy storage have increased significantly, and the control complexity has increased significantly, which puts forward higher requirements for strengthening the intelligence and informatization of the distribution and consumption side. Grid automation, digitalization and intelligence are key investment areas for future power grids. As for electronics, CICC said that looking forward to 2024, the smartphone market is expected to recover moderately, and the PC market may usher in bright growth. In addition, AR VR, AIPC AI mobile phones and other terminals are also expected to drive consumer electronics into a new round of product innovation cycle. In terms of the valuation of popular indexes in the market, the latest valuations of the CNI 2000, CSI 1000 and CSI 300 are 2527 times, 2374 times, 1055 times, the P/E percentile is. 44% and 1515%。The price-to-earnings ratios of the company, semiconductors and CNI food are among the top three, respectively. 31% and 3113%, and the valuation is 2044 times, 6125 times and 2533 times. 
Article**: Oriental Wealth Research Center).