The "2023 World Economic and Investment Summit Forum" was held in Shanghai on February 14. Wu Kaida, deputy director of Debang ** Research Institute and chief analyst of strategy, said that the current domestic Pringer cycle has entered the stage of recovery, and "decisive recovery" is the theme of the market in the first half of the year. But after the second half of the year, we need to pay attention to changes in the external environment, as well as the real recovery of the domestic economy.
Regarding the income of A-shares, Wu Kaida believes that the company's financial report can be noted at present. In the fourth quarter of 2022, the profit growth rate of the midstream manufacturing industry will accelerate marginally, and for the improvement of epidemic prevention and control measures, the feedback effect of consumption will be limited in the fourth quarter of 2022, while the midstream manufacturing enterprises will have greater profit surprises. Looking back at overseas markets, countries, regions and industries lack commonalities in the process of the epidemic subsided, the market has returned to its own fundamentals, and there are still uncertainties in the recovery of consumption. In the post-epidemic recovery, it mainly focuses on the allocation of industries, the theme of recovery, prosperity and policy benefits, and the technology + manufacturing sector is the focus.
After the comprehensive registration-based reform, the pricing of new shares on the Main Board has become more market-oriented. With the dilution of total income, the distribution method of income is no longer the level of the entry rate, the pricing method of light research and heavy game will be effectively improved, and the income distribution will return to the research ability, and professional investors will increase the new thickness, which will bring incremental growth to the overall new strategy of A-shares.
In terms of industry configuration, Wu Kaida is optimistic about the growth of technologies including photovoltaics, information and innovation, industrial machine tools, industrial robots, and new energy vehicles.