: From a valuation perspective, overall A-share market valuation may have rebounded from a low level.

Lianbo Fund stated that from a valuation perspective, the overall valuation of the A-share market may have rebounded from a low level, with the current dynamic price-to-earnings ratio of the Shanghai and Shenzhen 300 Index rising from around 10 times in September 2024 to about 13.4 times. Although the overall market valuation is still below the levels of above 16 times seen in periods such as 2015 and 2021, it is already higher than the historical long-term average of about 12 times. However, from the perspective of stock risk premium, interest rate environment, institutional fund flows, and corporate earnings, the current valuation level does not yet show signs of overheating.