This week, the three major A-share indexes collectively **, of which the Shanghai Composite Index fell 094%, the Shenzhen Component Index fell 175%, the GEM index fell 123%。In the primary industry of Shenwan, mining and food and beverage performed strongly, with the former rising by 15%, the latter rose 09%。The latest PE (excluding negative values, TTM, the same below) is 895 times, with a P/E percentile of 1023%。The latest PE for food and beverage is 2425 times, with a P/E percentile of 2516%。
Dongfang ** believes that from the perspective of historical data, the recovery of oil service prosperity will generally lag behind the recovery of oil prices, and the performance of the oil service sector has a strong correlation with the scale of the oil service industry. Driven by high oil prices, the profits of downstream oil and gas service companies will usher in a greater recovery. As for food and beverages, China Galaxy ** recently gave it a recommended rating. The agency said that due to the weak recovery of consumption, the valuation of the food and beverage sector will decline in 2023. Looking forward to 2024, the contradiction between supply and demand in the sector will be significantly eased, and the total demand of the sector will be better than that in 2023, of which the recovery in the second half of the year may be better than that in the first half of the year. In terms of the valuation of popular indices in the market, the latest valuations of the CNI 2000, CSI 1000 and CSI 300 are 2459 times, 2313 times, 1029 times, the P/E percentile is. 75% and 1273%。The price-to-earnings ratios of the company, semiconductors and CNI food are among the top three, respectively. 88% and 2707%, and the valuation is 2018 times, 6189 times and 2438 times. 
Article**: Oriental Wealth Research Center).